Tuesday, August 12, 2014

Is your used vehicle priced competitively?

Ok, it's time to sell that vehicle that's been sitting in your driveway for the past few years. You've got it clean and shiny, with no toys or trash in the cup holder. Wow, it's almost making you second guess selling it, except for the fact that you have a new car sitting in the drive beside it. Now you ask yourself  "How much do I want to ask for it?" This is where many people get into trouble.

There are right ways and wrong ways to price a vehicle. Some of the wrong ways are:

- I want what I owe on the loan.  (WRONG)
- I want what that dealership is asking for one on their Used Car lot (WRONG)
- I want $10,000 because that's what it's worth to me. (WRONG)

In order to sell a vehicle (especially online), you need to price it so that it's competitive in your marketplace.  The best place to start is to price it with some of the nationally recognized services such as Kelley Blue Book (kbb.com) or NADA (nadaguides.com). They have pricing tools that allow you to enter mileage, condition, location and a myriad of other options your vehicle may have.

Secondly, you should search for vehicles similar to yours that are for sale in your area. If there are 5 other Honda Accords for sale in your town, you need to be priced competitively with those. Determine why your vehicle may be a better choice for a buyer. Is it clean, well-kept, low mileage, regularly serviced or is it a specialty package with leather, premium wheels, etc.  All of these little factors will stand out when shoppers look at your vehicle. If your price is higher than average, you have to be the one to help justify this in buyers minds.

Lastly, don't bank on pricing it high and negotiating down to the number you really want. It's easier to have someone call and justify what you are asking than having no one call at all.  THIS IS ONE OF THE BIGGEST MISTAKES USED CAR SELLERS MAKE.

If you need any assistance selling or pricing, give Once Driven a call 888-941-6515. Our friendly representative will not only give you some great options for helping get it sold, but we perform a pricing analysis on all of our customer's vehicles.

Good luck and happy selling!

1 comment:

  1. Oncedriven.com is a TOTAL SCAM!

    Once Driven contacted us to sell our scooter in Nov 2014 stating they had "buyers lined up". It's almost February and we still have yet to receive even 1 call from from their efforts! They're eager to take your money, but then go MIA when they get your money. My rep Jennifer Williams is constantly dodging my calls and is completely unresponsive. I called on the 45th day to get my refund for their ineffective marketing and they said the scooter would have had to been sold (by other means) in order to get it.

    Beware if you should ever get a call from @OnceDriven wanting your money! They are a completely unprofessional, unresponsive, unmotivated and unsatisfactory!

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