Both buyers and sellers should allow room for negotiations. It is advisable for sellers to list the price at least 10% above the price you’d settle for. However, note that pricing a vehicle to high may not attract buyers.
There are a lot of factors at play when assessing a car’s value. These include mileage and the general condition of the car. Often, low mileage sells more. However, that may not be the case if you haven’t used your vehicle for a significant amount of time, causing certain fluids to settle and dry up.
The following is used to assess your car’s condition:
- Poor: These vehicles have severe mechanical and cosmetic problems. You can drive them, but not well. A car with a history of a major accident or flood damage is also considered poor.
- Fair: The vehicle runs and has a clean title. However, there are obvious issues that need to be repaired.
- Good: The vehicle has no major defects. It starts, accelerates, turns, and brakes well. However, there may be some light problems. Secondary systems, like reading lights or parking sensor, may have slight issues.
- Excellent. The vehicle almost looks new and is mechanically perfect. It appears slightly used with faint scratches on the paint or wrinkles on the seats.
Antiques and Collectible Cars
Standard pricing guides do not generally apply to antique and collectible cars. But there are guides online that can give you an idea about pricing. Buyers must expect to pay premiums for convertibles and customized cars.
Timing May Be Significant
If you’re in a rush to sell your car, you should price it cheaper. But if you’re the one who’s buying a rush sale car, you’re in the perfect position to negotiate. That’s probably the reason why it is best to shop for a new car at the end of the month as dealers often have quotas to meet. During this time, they may cut off prices just to sell the units.
Other Factors to Consider
If a vehicle is still under the warranty period, note that it may or may not be transferrable. Either way, it doesn’t affect the sale price. If you’re not sure of the warranty type, better check with the provider. If you’re buying or selling a used car, it is important to have accurate service records as it can affect pricing.
In addition, some cars are also packaged with auto insurance. However, you have the option of not availing it if you have a preferred insurer.
Sungate Insurance is an independent agency that offers auto insurance products that can best suit your needs, whether you own a new or used car. We offer competitive prices that are friendly to your pocket. If you want to know more about the products we sell, call us at (407) 878-7979 or visit us today. Get a free car insurance quote from us by clicking here.