Adaliz Clémence. Used Car. February 17th , 2020.
Depending on how long you have been driving, you will probably have had at least one car you have wanted to sell, and if you have ever tried to sell a car, you will certainly understand the minefield that is the used car market. There are many reasons why you may think to yourself ’I want to sell my car’; perhaps you want to buy a newer, or better, car; perhaps you have developed an environmental conscience and wish to ride a bike, or take public transport; or perhaps you simply need to raise a little capital in a short space of time, and think that selling your car would be the perfect way to do so. Selling a used car can take time and money. If selling privately, there are the associated costs of advertising, which can reach in excess of £150 if the car is advertised with a coloured photo. There is also the time involved, it is unlikely that the first person who views the car will take it, and so, more often than not, multiple viewings are necessary, these take up valuable free time and can be a great inconvenience. Alternatively, if selling with a dealership, it is unlikely that you will receive a good price for your car.
The days of spending hour after hour for days walking through car lots are all but gone. The modern car purchaser has many tools at his disposal. The chief tool is the internet. People can now watch videos to see reviews of cars from real owners and in some cases, they can see videos of the cars they are considering purchasing. The most popular use of the internet, however, is looking for cars for sale online. There are millions of searches monthly for cars for sale and specifically for no reserve cars. A no reserve auction means that the lowest current bid for the item wins. There is no reserve price that a bidder must bid above. People are looking for car auctions with no reserve pricing for two reasons. First, they are trying to get the best deal possible. If nobody else enters a bid, and the auction was listed for a very low initial bid, they can get great deals for potentially thousands below the value of a car. The other reason people look at no reserve car auctions is to establish a comparison price with other cars. They know that they shouldn’t just assume that a car has a great price because it is in a no reserve auction, but they can compare it to other cars for the best deal possible. It would be easy to assume that only private sellers are selling their cars online, but dealers are selling new and used cars online. Some of these dealers go the extra mile for the internet sale. For the modern car buyer, looking for best pricing on autos or looking for antique, classic, or exotic cars that are difficult to find locally, online auctions are a powerful tool.
Now pretend that you keep your 2003 Toyota Camry or that you are the buyer this year that bought it for $6,000. You have no car payments, so if you get laid off from your job or have other temporary financial setbacks, there is no stress from the possibility of the car being taken by the repo man. Granted it’s a used car so we might need a little extra for repairs, let’s say $100 a month. You still need to get the oil changed and regular maintenance done on the car like the new car, but you don’t need to sweat over a few coffee spills on the upholstery or scratches and dings on the paint since you know the car will be worth little when you are ready to get rid of it anyway. Where will you be in six years if you sock away the extra $220 dollars a month in a rather lousy investment CD with a rate of one percent? You will have $16,000 in savings. That is surely plenty of money to buy another nicer and newer car.
So who is the smarter consumer? Who is on their way to being able to always buy nice cars? Just from one or two times abstaining from borrowing money to buy a new car a consumer can have the money in the bank to buy all their cars new, if they so desire. Also, after a little time of driving an asset they own free and clear, consumers may find they like the way that feels, even if the car does not look showroom perfect. They say there is an air freshener you can buy for that new car smell. Also bear in mind that our calculations did not take into account the amount you can save every year on ad valorum taxes and insurance for less-than-new cars.
The available types of cars at an auction will very. No particular car is guaranteed to be there because depending on the auction, the cars will come from various places. Government agencies, like police or FBI, auctions will get their cars from law enforcement related deals like impounds or seizures, or other places. Government auctions sometimes come from selling old government vehicles. Bank related auctions get their properties from repossessions. So the places the property comes from will vary and thus the selection will vary. However thanks to websites like the one promoted here you can sign up and research what auctions are available, where and when they will take place, and you can browse the available stock to see what types of cars there are. Then you pick a few, go to the auction and check them out, then bid your price on them. The beauty of buying at an auction is the prices. Often times cars are sold for half their blue book value, or even less. The process to buy from an auction is a bit more involved, but to save that much money is worth the time and effort. So buying an older car can be economic saving you money in both costs and gas, and it can help the environment at the same time. Good luck with your auction pursuits!
4). Advertise- To get your car sold, you must get the attention of potential buyers. And the main way to do it is to advertise. A simple ”for sale” tag on your car is sure to get the attention of interested onlookers. You can also post your car at classified ads, both in print and online forms. When posting an ad, make sure to add as many photos and details as possible. You can also try some creative means to get buyers’ attention towards your car such as exhibition videos. 5). Seal the deal- This is the part that some sellers fail to execute. When presenting a car to a potential buyer, make sure to put your best foot forward. Also, be open for negotiations, but steer clear from those trying to lowball you. Establishing rapport and making the buyer want the car more will also help your chances. Once the buyer bites, seal the deal, and both of you will walk away happy.
Interior Points: Functionality of features and electrical components – There is nothing more irritating that trying to adjust a side mirror that has electronic controls and finding out that it does not work. The same goes for various lights in the dash and other important controls like the hazard lights. Evidence of Smoke or odors – For many of us a buying a car that was once smoked in is not a choice we would want to make. Same goes for other odors or spills. A car that has had a lot of food spilled or chemicals could cause health problems down the road. Under the Hood: Fluid levels and hoses and belts – While these may seem an easy thing to check yourself the question is whether or not you know where every belt, hose or fluid container is. Miss one and you might be walking home at some point or calling a tow truck!
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