Now Could Be A Good Time To Sell Your Used Car In Colorado Experts Say
DENVER Car sales in Colorado appear to be up, according to the latest state data. Auto experts say it could be a great time to trade in a used vehicle.
There is a huge supply chain shortage causing inventories to be really low, Tim Jackson, CEO of the Colorado Automobile Dealers Association said.
Industry leaders say a shortage of microchips globally continues to impact the auto industry.
A car could have as many as 200, 300 or even 400 chips, Jackson said.
Jackson says in October, used car sales were up anywhere from 30% to 50%, adding in some cases, car owners could even make a profit.
According to the most recent data from the state, motor vehicle and parts sales were up 25% this September, compared to September 2018.
Do Research Before Selling
Before you go into a dealership or reach out to online buyers you have to do your research. Never put your trust in a buyers offer without knowing the value of your vehicle. So, the first step is to educate yourself on the trade in and sale value of your used vehicle.
Get onto Kelly Blue Book to find out what your cars price range is. Depending on the value of your car it might be a good idea to invest in some mechanical work. In general, mechanical work raises the worth of your car beyond the labor expense.
Read to see the common issues that your car experiences. Look on Facebook Marketplace and Craigslist to see what your car is selling for in your area.
If you begin negotiation with a dealership or private buyer without knowing the value of your vehicle you lose money on the sale. The more you know about the state and quality of your car, the better your negotiation tactics.
No matter what you want to get for your used car you have to price it higher. But, if the price is out of a reasonable range it dissuades potential buyers. Determine the value of your car by researching and doing your homework before the negotiation.
You may also want to consider getting a vehicle history report for your car to show buyers your confidence with your offer. Most buyers would purchase a car report which may not have complete vehicle data. You can run a free VIN check, for example, so buyers can compare the market value, title history, lien records, salvage records, and other results.
Don’t Sell To A Dealer
If you are considering trading-in your current car on a new one purchased at a dealer, think twice. It’s a well-established fact that you can get more money for your used vehicle by selling it privately. Car dealers need to make money on the used cars they take in trade they buy low and sell high. They’ll give you as little money as they can for your used vehicle, and since they negotiate every day, they’re probably better at it than you are. There may be exceptionsespecially if you have a relatively new car that’s coming off-lease. But the biggest thing a dealer has to offer is convenienceone-stop shopping that enables you to trade-in your old vehicle on the spot and avoid the work of selling it yourself. But that extra effort will be worth it.
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Selling A Car To A Dealership Vs Private Buyer: Which Is Better
If you have been thinking about selling your car, now is the best time. Since there is low production and high demand, you can be sure to get the best price for your vehicle, which means selling your vehicle is a great idea in the current market. In other words, if you are wondering, Should I sell my car? the answer is a resounding yes! Plus, if you sell your car to Land Rover Palm Beach, you can rest assured youre getting the best possible price for your used vehicle.
When selling to a private buyer, you potentially have to deal with low-ball offers from individuals who maybe arent that serious about buying your car in the first place, whereas here at Land Rover Palm Beach, we are very motivated to buy your used car. Not only does selling your used car to us streamline the negotiation process, you can easily trade up for a new Land Rover should you decide to go that route as opposed to selling outright. Finally, when you sell your car to Land Rover Palm Beach, you know youre dealing with a trusted name in the community we will do all we can to ensure your satisfaction!
How Do I Conduct A Secure Transaction
Transferring the title also calls for a secure environment. When youre ready to make the sale official, follow the below tips.
- Take payment inside the walls of a bank – The safest place to exchange payment is at the buyer’s bank. Do not agree to drive the potential buyer to another location, especially if its to pick up the payment.
- Trade the title for the payment – Don’t sign or hand over the vehicle title to the buyer until youve received the agreed-upon payment in full. If the payment is not cash, make sure the check or money order is legitimate, or wait for the Venmo payment to deposit in your checking account. If the buyer is paying with a check, go to the Federal Deposit Insurance Corporation website, FakeChecks.org, to verify it is not fraudulent.
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Assure Yourself Of Proper Payment
If you decide to sell your vehicle to an individual, accept only cash or a cashier’s check in payment. You are wise to close the transaction at the bank that issued the cashier’s check. Never accept a personal check under any circumstances. Once you have made certain that the cashier’s check is good, you can sign over the title of the car to the buyer and let them take possession of the car.
Six Top Tips For Selling Your Car
Before you start drafting up an ad, there are a few things you can do maximise the appeal of your car. Here are our top tips on preparing a car for sale.
1. Get the price right
You dont want to undersell your car. So before you agree to any part-exchange deal or put your car up for sale, search for similar models advertised online. Try to find cars that are of a similar trim level and age. It will give you a better idea of what your car will sell for.
2. Consider an MOT
A car that has recently had an MOT is more appealing than one that hasnt. Not only does it mean the buyer doesnt have to pay for a new MOT straightaway, but your buyer can be more confident that the car is in a good state.
You also want to make sure you have all the relevant documentation to hand. Heres a quick paperwork checklist:
- Significant invoices and receipts for work done or parts purchased.
If relevant, ensure you can prove any outstanding loans have been paid off and that the car is yours to sell.
3. Find all the keys and accessories
Collect together all the keys for your car, including the special socket-style tool for unlocking alloy wheels. Also re-fit any parts or accessories you might have removed, such as a parcel shelf for the boot or a tool kit.
A built-in sat nav may have the addresses of your home, work and friends all stored in its memory – delete that data before you sell.
4. Spick and span
5. Important: delete your sensitive, stored data
Heres how its done:
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Top Dollar Paid For All Cars We Pay More
You may want to sell your car for several reasons. Even if youre not thinking about selling your car, you should consider some wise reasons to get rid of your old car. You may want to get a new car to avoid the increased maintenance cost of your older model. It also makes sense to sell your car before the last quarter of every calendar year because year change impacts the resale value of your car. Some car owners also sell their vehicles before their warranty period expires. Other obvious reasons to sell your car include moving to a new city for a new career or planning to get a better, bigger car that suits your changing family. There can be many reasons to sell your car but often people are wary of selling their car because of the prevalent fraudulent activities.
Call us today at 888-819-9795 for a no obligation quote or fill out the form and well get back to you with an offer within a few business hours.
Selling Your Car Directly To A Dealer
Selling your car to a dealer can be an easy option, especially if the right dealer for you is based nearby.
Youll need to make sure you find the right one, however. Some franchised dealerships might buy cars of all makes, but if its not one of the same brand, they arent going to offer you the best price as theyre unlikely to retail it directly themselves.
Make sure to bring your A-game to the negotiations. Dealers are out to make a profit, and while that isnt necessarily the worst thing in the world, it does mean they know all the tricks of the trade.
This means they will look to find flaws in your car, and chip down the price. Youll need to make sure you have a clear understanding of your cars value, in order to get a good deal. Haggling is likely.
Think selling to a dealer is your best bet? Check out our handy guide to selling to dealers.
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How Much Can I Sell My Car For
How much you can get for your car depends on a number of factors. The make and model are probably the most important – some brands and cars are more desirable than others, therefore they hold on to more of their value and command a higher price.
Your car’s age and mileage will also have a big effect on how much you can sell your car for. The older the car and the higher the mileage, generally the lower the valuation.
Equally important is your car’s condition – scuffed alloy wheels and bumps and scratches will lower the value of your car, because well need to sort them before we move it on again.
Another factor on how much you can sell your car for is its service history. This is the record of the car’s annual services. A car with a full service history – where youve had it serviced every year or within its set mileage – will have a higher value than one with bits of its service history missing.
Finally, the number of previous owners affects a cars value – you can find out this information on your V5 document. A rough rule of thumb is the more owners a car has had the lower the cars valuation will be.
How To Sell Your Used Car
There are many reasons you may decide its time to sell your used car. Maybe your family is growing and you need something bigger, or maybe you want to celebrate that new job with something sportier. Whatever the reason, selling your used car should be a pleasant experience for you and the buyer. Here are some tips to help you prepare for a smooth transaction.
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How Much Is My Car Worth
The first step in getting the most value when you sell your car is understanding its approximate worth. The vehicle’s model year, brand, model, mileage, and overall condition are key factors in determining what it is worth.
Happily, there is a free resource that takes all the necessary factors into account. By visiting NADAGuides.com and entering a few pertinent facts about your current car, you will be presented with an array of useful price/value information. Included among them are rough, average, and clean trade-in values , the “clean retail” value, and a certified pre-owned value.
If you plan to trade your car in as you purchase a new vehicle you can expect to receive the appropriate trade-in value. Similarly, if you sell your car to a dealer you can expect to receive something close to the trade-in value. These are essentially wholesale prices that provide a margin of profit to the dealer when they retail the used car.
If you plan to sell your car to a private party you can expect to get a price like the “clean retail” value, since you are selling to the end-user.
What Is The Condition Of Your Car
Is your car in good mechanical condition or was it involved in an accident and had serious structural damage done to it? Whatever the condition of the car, you should always be transparent when advertising and selling it. There are people out there who try to sell a car that isnt roadworthy as in mint condition and while you could press your luck, do yourself a favor and always be transparent and have the service record of the vehicle available for prospective buyers.
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What Is The Fastest Way To Sell Your Car
Cash Cars Buyer offers sellers a three-step method that is fast, quick and convenient. Here’s what you do:
1. Enter your used car’s specs and get an instant offer.
2. Call us so we can ask you some additional questions about your car. Then we will make you a cash offer. Like what you hear? Great! We’ll come to you, to inspect your car!
3. Once we get to your location, we will appraise your car. When all looks good, we’ll put cash in your hands, FAST!
Best Ways To Sell A Car
When the time comes to sell a vehicle, most people will list the car in some form of classified ad and hope for the best. But theres more than one way to skin a cat, so to speak. Gone are the days of buying an inch-long text block in the local papers classified section. The Internet has transformed car sales into a multi-dimensional universe. Even so, there are other ways, and the one you choose will have a lot to do with your individual circumstances. If youre selling a 12-year-old Honda Civic, for example, you might choose a different sales venue than you would if you were trying to unload a mint condition 1956 Lincoln Continental Mark II. Either way, youll want to establish the cars Kelley Blue Book value as a baseline.
Here are a few of the best ways to sell a car:
1. Word of mouth
This can be one of the best, easiest ways to sell a car or truck. Bring the car to work, drive your kids to school in it, park it at your gym festooned with neatly-printed for-sale signs. Ask around at work or school or church or whatever and see if anyone is looking to buy a car. The plus side of this scenario is that you wont have to deal with any of the weirdos and flakes youre somewhat likely to encounter by throwing a listing up on Craigslist.
2. Instant Cash Offer
4. Sell to CarMax or another Dealership
5. Sell privately
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There Is A New Way To Sell A Used Car Hassle
Update: August 31, to include limits on accepted model years.
If you are thinking of selling your used car, now might be a good time. There is a shortage of vehicles and you could get a good price. However, if you do not want to go through the trouble of doing it yourself, a Vancouver-based company is offering a hassle-free way to do it and get a good price.
Boris Bolshem of Port Coquitlam did it.
“Oh, the best selling experience ever,” he said.
However, it did not start out that way when he first tried to sell his used 2015 Toyota Sienna.
He had tried selling it on his own by posting an ad on Facebook Marketplace and in Auto Trader.
He had hoped to get around $19,000 for it and although there were plenty of offers, he could not reach his price. Bolshem says most of the offers he got fell in the range of $15,000. He says he did get one offer for $17,500 but the potential buyer disappeared.
“I’m not very good in negotiating,” he added. In addition, he was not happy with the lowball offer he got from a dealer when he tried trading in the vehicle just $13,000.
Then he got a message on Facebook from a company called Autozen.
“You at least get a fair price, not the standard lowball offer that most people will give you,” said Olivier Vincent, Autozen CEO.
And the market is hot right now because the computer chip shortage that has limited new vehicle production has also driven up used car prices with dealers hungry for inventory.
In two days, he had sold his car for $17,600.
Instant Offers And Trade
If you need to sell your car quickly, upload a few documents and some basic information about your vehicle to get an offer in just a few minutes. If youre interested in buying a new car, Carvana also offers the ability to trade in your vehicle. Youll have a week to make sure you like your new car Carvana holds onto your trade for seven days in case you decide to return your new Carvana vehicle and get your old car back.
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