Making the decision to part ways with your car is almost always difficult to make. Knowing what price to sell your car at can be equally as difficult. If you have decided to put your vehicle on the market, we’ve got some handy tips to ensure you set a realistic price point for your car.
How to Set the Right Price
Setting the right price for your vehicle isn’t an exact science. But you can use the following guidelines to determine what a fair asking price for your vehicle is.
1. Understand the value of your vehicle. The type of car you drive might make it more interesting to buyers. For example, trucks and work-related vehicles often move faster on the market because of their usefulness. Also consult online pricing tools, such as Kelly Blue Book, to determine a fair market price for your vehicle.
2. Look at the competition. Go through Craigslist, online and print ads from dealerships or other private parties who are selling cars that are similar to yours. You’ll get a better idea about how much to ask a potential buyer to pay once you know what your competitors are asking.
3. Keep your price competitive. Once you know what your competitors are asking for your vehicle, and what the experts say your vehicle is worth, you can set a more competitive price. Try to keep your price similar to your competition’s, but be sure to highlight any extra features that your car might have, such as a sunroof or a new set of tires.
You can also get a sense for what people are expecting to pay for your vehicle after showing it to prospective buyers once or twice. Use your intuition to go through the negotiation process. Good luck!
Need a Title Transfer?
If you have recently bought a used car, you’ll need to get it titled in New Mexico as quickly as possible. Whether you need a simple title transfer or a more complicated one (think lost original title), a friendly customer service agent at MVD Express can help. We’ll get you in, done and on your way in no time at all! Visit your local MVD Express location today!