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How to Price Your Car? | Helpful Guidelines

If you are looking to sell your car, the question of what is fair to ask from a potential buyer for it can be a really confusing question. Cars have a lot of things that need to be accounted for. So, what should you do to ensure you get the best price for your car…

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What does the Market say?

The very first thing you need to research before determining the value of your car is the market value. How much are people willing to pay for it by checking out how much they are going for? There are a few factors that can decide the market value for the car.

The very first thing you have to consider is the demand for your car you need to be very careful because there are so many worst extended auto warranty companies. And the next thing is how in-demand is your car? How much are they willing to pay for it? How many are other people selling the same make and model of your car? These are the very first basic questions you need to ask. You can very easily go online and look up the going rates for it and you will have a rough idea about the value of your car depending of course on the condition it is in.

Now there are also a few categories of cars and all have different values and wait time for them to be sold.

One of the most in-demand cars is usually the four-door sedans. They sell like hotcakes because everyone needs something that is reliable and can take them from point A to point B. People are always on the lookout for them and they are ready to pay good money for it if the condition is good.

Then there are Trucks and Vans, which are also a hot commodity and do go for good money as people always need something they can use for work.

The next category up for discussion are sports cars and convertibles which are pretty to look at but not everyone is looking to add them to their collection all year round. Winters are bad for these cars as they are not in demand that much and you might have to take a significant hit if you are looking to sell yours and as soon as possible.

The final category, which has a very niche market is collector cars. There are not many people who will buy them so patience is key for cars like these. If you wait a while and find the right buyer, a collector car will go for a lot of money.

The Blue Book Value

Another great way for determining the value of your car is to look at its blue book value. These values clearly define everything about your car’s value. They will give you a very good ballpark figure for your car depending on the mileage, condition, color, and region you wish to sell your car in. One thing that you need to note however is never listed your car at the exact blue book value as they are the final values for a car and you should keep your asking price higher than that so that you will not go under market value.

However, one thing that you need to consider is that there might be times that the bluebook might list your car for too low or sometimes too high. The market dynamic for cars is always changing in accordance with the time of the year or the fuel prices. So, it is very important that you do not trust the blue book value as the final word and keep digging to find the true market value.

Competitive Pricing

It is very important that you price your car competitively if you wish to sell it as soon as possible. Once you have a rough estimate about the price of your car, keep the asking price a little higher than what you are expecting, however, do keep your expectation in check. A car with a blue book value of 6000 dollars should not be listed at 7500 dollars which will ultimately drive buyers away from you. So, it is important to keep your expectations in check. An exorbitant higher than market price will also send a message to a potential buyer that you are not serious about selling your car.

Conclusion

So here was the advice we could give on pricing your car competitively. Once you are sure about the value you have put into the car, use your arguments in your negotiations. If you play your cards right and fully explain the whole logic behind your car, they will buy it and give you the price you have been looking for.

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