How to deal with prospective car buyers

Selling your car on your own does not have to be a painstaking activity.

When it comes time to sell a car, the vast majority of the population is content with trading it in to a dealer and putting that money towards the purchase of a new vehicle. This is primarily because people want to avoid the inconvenience of dealing with potential buyers. A dealer will typically offer 10 to 20 percent less on a trade in than what you could sell the vehicle on your own. There are ways to make selling your car on your own an easy and lucrative experience.

Instructions

1. 

   Be prepared at all times to answer questions about your car.

   Keep a list of talking points about the vehicle near every phone in the house. Serious car shoppers want to know more about the vehicle than what is contained in the ad. Questions that callers typically might have are: When was the last oil change? Are the tires original? If not, how many miles are on the new tires? Has the car ever had a brake job? If so, when? Has the timing belt been replaced? Why are you selling the vehicle? Is the car still under warranty?

2. 

   Meeting with used car shoppers in secluded locations should be avoided.

   Always meet with the potential buyer in a public place. If possible try to avoid allowing strangers to come into your home. Parking lots of local malls or supermarkets are good meeting places.

3. 

   Be sure to disclose everything you know about your car.

   When describing your vehicle be sure to mention all known deficiencies; including scratches or dings, open recalls, and mechanical problems. If a person is seriously considering purchasing your vehicle he will likely discover the defect on his own so you might as well be upfront about any issue. Show them the vehicle history report (see additional resources). They will appreciate your honesty.

4. 

   Do not let anyone drive your vehicle before seeing identification and proof of insurance.

   Before allowing a potential buyer to test drive your vehicle request a driver's license and proof of insurance. It is imperative that anyone that wants to test drive the car be legally licensed to drive and fully insured.

5. 

   Car thieves often pose as car shoppers.

   Never let a person test drive your vehicle alone. Not only is the potential buyer more likely to drive the vehicle roughly, but there is also a chance the person is a car thief. In addition, if you ride with the potential buyer you can answer any questions that may arise during the test drive.

6. 

   Be firm but nonconfrontational when negotiating with potential buyers.

   Not everyone enjoys it, but haggling on price is a large part of the sale process. Prepare yourself for haggling by knowing what your absolute floor is before the negotiation begins. Do not use your floor as your first counteroffer. Do not be afraid to tell a potential buyer that the asking price is too low. If she tries to lowball you because of certain issues with the vehicle show her the Edmunds True Market Value pricing report and let her know that all problems are included in your asking price. If she will not budge on her price it is okay to let her walk away without a deal. You just need to sell the car once.

Tips & Warnings

• If you are unsure whether your car or truck has an open recall on it you can run a free recall check at Carfax.com (see additional resources).

References

• My Auto Tips: Selling a Vehicle
• Edmunds: Used Car Appraiser

Resources

• Carfax: Auto Recall Check
• Carfax: Vehicle History Reports
• Autocheck: Vehicle History Reports
• Edmunds: About TMV Prices