Post: #1

Anyone have any tips for selling a used car? Its already on kijiji, autotrader and Craigslist. Put it in the local paper as well.. Have good pictures and a decent description that's short and to the point.

Post: #2

The basic "problem" with selling a used car lies in something called "information asymmetry". Famous economist Tim Harford has published a nice summary of this:
http://www.slate.com/articles/arts/the_u...mons_.html

You, the seller, know a lot more about the vehicle and its potential problems than the buyer. Therefore most buyers are only willing to pay an amount slightly lower than the actual value in order to compensate for "unknowns". They basically assume there are issues that are not obvious and which lead you to sell the vehicle. To overcome this you might want to be as transparent as possible or offer an unbiased inspection at a local shop.

Post: #3

here in calif i'm amazed at how few ppl smog their vehicles before sale. It's useless to the new owner without smog ( in most areas) . you can't register it.

it also provides some proof engine is running right.

Post: #4

1. Clean the fuck out of it.
2. If your area requires smog and/or safety inspection prior to title transfer or new owner registration get it done. It's the closest thing to a warranty you can offer, and people will be inclined to pay more if they know they can have it on the road without unexpected extra expenses.
3. Take decent pics.
4. I've had the best luck with e-bay.

Post: #5

I used Craigslist to sell my truck and buy a car last time around. Like porscheguy said, you want to detail the hell out of the car including the engine. One trick that works great, after you've cleaned out the engine is to spray it liberally with Armor All protectant and leave it on there, it will make things really shine. That's the biggest thing, you can have a piece of shit car but if the engine bay looks clean people will think you've taken good care of the vehicle. It may even be worth $100 to take it to a professional detail shop and have them give it the works. Also top off all the fluids so they're right where they should be, people will definitely check the oil, coolant, power steering etc...

Cash deal only, no checks, unless it's like a $20,000 deal? Have a friend with you when it goes down.

I was lucky, when I sold my truck it was a Toyota and everyone wanted it, my phone was ringing for a week after I sold it. I think it was the second caller who bought it. Depending on your make and model it might not go so quick. Pick a price and stick with it. When negotiating the deal don't drop down in big chunks. For instance, if the price is $5000 and the buyer offers $4000, your counteroffer should be around $4800 and stick to increments of $200 (or $100 or $50 or whatever increment you're comfortable with depending on the make, model, year and condition of the vehicle). If you take $500 off the top then the buyer will assume that you'll take another $500 off and another until you're selling your car for peanuts.

Trust your gut, if something seems fishy do not do the deal. It may take a few "practice" deals to actually sell it. Like I said, the best thing to do is pick your target price and stick to it and don't do the deal unless you're getting what you want. Then again, you might need a quick sale or the vehicle might not be in good condition, then all bets are off and some car buying shark may talk you into a bad deal.

When I sold my truck I priced it at $500 more than I wanted to get for it and "let" the guy negotiate me down to my target price and stood firm on that .

A long time ago I knew a guy who used to scour the For Sale ads, talk people into selling their cars for peanuts, give them a story about not being sure if they were putting the title in their name or their "younger brothers'" name so leaving that blank, taking the car home and detailing the fuck out of it, then turning around and selling the car at a tidy profit, making anywhere from $500 to $2000 for a few hours work. By leaving their name off the title the car appears to go from the original seller to the second buyer so there's no paper trail or taxes.

It's not really a scam but it's shady and gets you around the laws that limit how many cars you can sell per year without being a licensed and insured auto dealer. It's a great way to make money, cars are a great liquid asset and most people have no experience negotiating and buying cars, they think if they know the Blue Book value they won't get ripped off.

Post: #6

Definitely need to clean the carpets.. Going to do that tonight, have the car safetied and etested already. Posted it on a couple more sites.. Going to figure out a high traffic area I can leave it at for a day or two and throw a sign up in the window. Have a ride out to alberta on the 9th so I'm hoping to have it gone by then fingers crossed.. Would be nice cause it will save me some cash but ill probably end up flying out.

Does anyone have experience with selling cars to wholesalers or a dealership? Probably on the low end of what I'm asking but would make for a quick sale.

Edit* the detailing is definitely a good idea.. I have waxed it a few times already but won't hurt to do it again and try and get some perfect pictures.. Carpets definitely need cleaned. I've got it priced $500 above what I'm looking to get. The engine was spotless when I got it and I've only had it a few months so it shouldn't take too long - definitely made me feel reassured it was a good car when I bought it.

Someone hit me in a parking lot and it didn't go thru insurance -- nothing serious but I ended up getting a rusted quarter replaced and painted for free. Should I mention this or let the mint body speak for itself? I have a bill for $3300 of body work but I'm not sure if this is going to scare buyers or help the sale because it has fresh paint and metal, no bondo. Just spent $616 to get it safetied and I have 2 sets of mint rims and tires(winters and summers).. I'm asking $3500 lol this thing should be selling itself

Post: #7

Don't bother with a dealership unless you just want to get rid of it for nothing. If you need it to move quick price it $500 below Blue Book value and in your ad say "$xxxx or any reasonable offer will be considered". You may wind up selling it to a wholesaler or small time dealer but they sure as hell aren't going to tell you that they are.

Post: #8

A dealership will give generally give you wholesale for it. Definitely not nothing.

On the flip side, you can't snow a dealer like you can joe blow off the street. You'll do better selling it to a private buyer if you've got the skills.

Post: #9

Sold for 3k, just needed to give it some time. Buyer was skeptical but I don't blame him, buying used cars is always sketchy.. Let him get two separate opinions on it even after I had it safetied.. One from a transmission shop and one from a general shop. Figure I had it up for $3500, might have been able to get another 2-300 if I waited but that might have been another week or two.. Lost money at that point cause I'm trying to get to Alberta and start working ASAP. Thanks for the tips guys

Post: #10

(03-06-2013 09:32 PM)rdvirus Wrote:  Sold for 3k, just needed to give it some time. Buyer was skeptical but I don't blame him, buying used cars is always sketchy.. Let him get two separate opinions on it even after I had it safetied.. One from a transmission shop and one from a general shop. Figure I had it up for $3500, might have been able to get another 2-300 if I waited but that might have been another week or two.. Lost money at that point cause I'm trying to get to Alberta and start working ASAP. Thanks for the tips guys

You got just what you wanted. It's tough when the vehicle isn't a wickedly popular model with a great resale value like a Toyota or a Honda. You get lots of tire kickers who try to talk your vehicle down but from what you said it wasn't a piece of shit and it was mechanically sound. With the time factor it sounds like this worked out well. Good job!

Post: #11

carmax

Post: #12

I have sold nearly every car I have owned at a profit.

My rule has always been it only takes one person to buy a car.

Clean it good, have a sharp ad and wait.

When someone shows up to look don't even try that hard.

Let them convince themselves.

Post: #13

Send me a link to your ad on Criagslist