Don’t Make These Mistakes When Selling a Car, Says U.S. News
Usually, when buying a car, most people sell their old one, whether it’s via a trade-in at a dealership, an instant cash offer, or selling to a private party. To make the most money from the business transaction, U.S. News & World Report put together a list of the mistakes to avoid when selling a car.
How can I get the most money when selling a car?
Even though a car depreciates considerably over its lifespan, you can usually get a great deal of money back when selling it. The key is to avoid mistakes. U.S. News compiled a very long and comprehensive list of “33 mistakes people make when selling a car.”
- Not knowing the value of your car
- Letting your emotions do the pricing
- Not having a pricing strategy
- Making costly repairs before you sell
- Not looking at the car-selling options
- Not considering the tax advantages of a trade-in
- Not getting the title from your lender
- Not gathering your car maintenance records
- Not getting the car washed
- Advertising with lousy photos
- Not telling the truth or including enough information
- Not taking advantage of free selling tools
- Not advertising if there’s a warranty
- Not responding quickly to inquiries
- Accepting the opening offer
- Being bullied by buyers
- Falling for an emotional plea
- Listening to the lowballers
- Giving in at the last minute
- Fibbing about the car’s accident history
- Lying about other offers
- Not meeting in a safe space
- Not taking solo test drive precautions
- Not safeguarding your personal information
- Failing to clear your personal data
- Not letting a potential buyer get an inspection
- Not asking enough questions about the buyer
- Not reading the documents before you sign
- Not being clear that the sale is “as is”
- Falling prey to a payment scam
- Allowing a payment plan
- Failing to complete the paperwork
- Not walking away from a bad deal
Don’t let emotions influence you when selling your car
Many of the car-selling mistakes from U.S News deal with emotions. Selling your car can be stressful — and it’s easy to get overcome by emotions. However, getting overly emotional can affect your judgment and lead to mistakes. When selling your car, try to adhere to the adage, “It’s not personal. It’s business.”
Be well-prepared when selling your car
Another large chunk of the U.S. News car-selling mistakes pertain to preparation. This includes such things as “not knowing the value of your car,” “not getting the title from your lender,” and “not gathering your car maintenance records.” Also, you want to make sure that your car is presentable and as attractive as possible to potential buyers. Before selling your car, give it a car wash, and use high-quality photos when listing your car. Good preparation is one of the keys to success, and this holds true when selling your car.
Selling your car: Safety and security precautions
U.S News also lists many car-selling mistakes that pertain to safety and security. Examples include “not meeting in a safe space,” “not taking solo test drive precautions,” “not safeguarding your personal information,” and “failing to clear your personal data.” Like many other business transactions, there is an element of risk involved, so take the necessary safety and precautions.
As you can see from the very long list from U.S. News, there is an abundance of mistakes that you can make when selling your car. If you’re not careful, there are many things that can go wrong. However, if you avoid these mistakes, you’ll have a good chance of getting a decent amount of money from the sale of your car.
