Pricing Your Car
The key to selling your car is pricing it wisely. A common problem among private-party sellers is overpricing. Avoid that mistake by doing some initial research:
- Determine your car's value with Cars.com's pricing tool, or with some similar tool. The "Private Party Value" will be the most accurate for pricing your vehicle.
- Provide an honest evaluation of your car's condition to get a true idea of its worth. Remember: A potential buyer will tend to be more critical of the car's condition.
- Search used-car listings to see how similar models are priced in your area.
- Research dealer pricing, but don't expect to get the same amount in your sale. Dealer sales provide some benefits that private-party sales do not, such as return/exchange policies, limited warranties, etc.
- Factor in likely repair work. If your car is worth $10,000 but needs a new transmission, then don't expect to receive full value. Reduce the price in accordance with necessary repairs.
- You may want to consider adding "or best offer" language to your asking price. Including OBO could result in more leads, but it may also result in lower initial offers.
- Be realistic: Is your used car still a popular and viable model, or are you driving a relic of an earlier age? Be honest with yourself and price it accordingly.
© Cars.com 4/29/13