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3 Common Mistakes Made By Amateur Car Sellers
If you are selling a used car for the first time, or if you have never had success with this venture in the past, let me give you a few tips to help you out. These are some relatively simple techniques that will help you maximize the profit you make off of your used vehicle. Sadly, most amateur dealers do not utilize these tips, and make other common errors, that end up costing them money.
Here are 3 very valuable tips:
1. Get a professional window sticker. Contrary to popular belief, window stickers are not just for mega-dealerships. Why do you think dealerships all use them? Because they work! A professional window sticker will do wonders for your used car sale. They will make customers feel more comfortable with the car, and with you. They will be there, presenting your car to customers, at all hours of the day and night. And, they will present to the buyer what you are willing to take for the car, which saves time in the negotiating process.
2. Never qualify your price with “or best offer.” This is an extremely common mistake made by amateur sellers. Virtually every car you see for sale on the side of the road comes with these words on the sign. First of all, you should not be using a generic “For Sale” sign (see #1 above) but a professional window sticker. Secondly, the words “or best offer” instantly put you in a bad negotiating position. You might as well say, “I would like to get this much, but I’ll take whatever I can get.” Figure out how much you want for the car, and then put a price somewhat higher than that on the window sticker. Often, customers will be prepared to pay exactly that price, but even if they want to “wheel and deal” you will have the upper hand.
3. Be patient! The second most-common mistake made by amateur sellers is giving in too early. You will probably be tempted to sell your car to the first prospective buyer that comes to your door, even if they are offering less than you want. It is to your benefit to resist this temptation. Be firm with your asking price. Know the minimum amount you will accept, and do not go below that price. You can afford to watch a few customers walk away without a sale. It will be well worth it when you finally hand over the keys to someone who was willing to give you your price.
Selling a used car is a common task, but that does not mean you should make the common mistakes associated with it. Get a good, professional window sticker. Figure out how much you want for the car, price it slightly higher than that, and refuse to go below your minimum price. You will be pleasantly surprised with the results you can achieve with these simple tips. Remember to stay firm, and good luck with your sale!
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