How to Value Your Car and Come Up with a Selling Price

How to Value Your Car and Come Up with a Selling Price

If you want to sell your car, how do you determine what price to put on it? There’s no “RIGHT” price, but there are some things you should consider:

Key Topics:
00:00 Intro
00:25 Sell a used Car is an Art
00:41 How to set a Competitive Price for a used Car
01:25 Quick Guide to Set a Price for a used Car
02:15 Market Considerations to set the price
02:35 Determine the Fair Value of your Car
04:10 How to Review the Price
04:45 Negotiating Room is important
04:55 Psychological Aspects to set the Price
05:30 Trust your Gut
05:55 Do your Homework
06:10 Driveo is here for you

👉 Consider the Current Market
If you know you have a high-demand car, you can set a higher price, but if you have a car no one wants, then you’ll have to put a lower price.

👉 Check the Pricing Guides
You can get a quick, rough idea of your car’s value from sites like Kelley Blue Book or Edmunds, but those are only a starting point.

👉 Check out Your Competition
What are cars like yours selling for in your area? This is your best source of information for setting a price.

👉 Price Your Car Competitively
Set your price slightly lower than your research revealed if you want to sell fast.

👉 Trust your Intuition
Generally speaking, it’s better to start on the high side and then drop the price from there if you’re not getting a lot of interest.

👉 Research Equals Reward
The more time you research what similar cars are selling for in your market, the better your initial asking price will be.

👉 Books Can Value Your Car Too Low
The pricing guides are only that, guides. If they’ve missed the mark and are too low for your local market, you’re leaving money on the table.

👉 Books Can Value Your Car Too High
The book price for your car might also be too high for your local market, in which case you won’t have many buyers contacting you.

Lesson Learned?
Selling your car privately on your own can be a lot of work to do it right. A reputable car-buying service like Driveo can save you a lot of time and hassles while putting more money in your pocket than you’d get at a dealership.

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When selling your car privately on your own, you have to figure out what your car is worth to set an initial asking price. You can get a rough idea of your car’s value from sites like Kelley Blue Book or Edmunds but consider those as only a starting point. You need to find out what comparable vehicles are selling for in your area to fine-tune your asking price to your local market, which is something book values don’t really give you. If you set your price on the high side, you can always lower it if you’re not seeing much interest.

Read More: https://www.driveo.com/blog/value-you...

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