How to Price Your Car For Sale
Setting the right price for a used car is an art — a mixture of research and science. Set the right price and you’ll sell your car quickly. Set the price wrong and you’ll be waiting weeks for an email from a buyer.
We’re going to focus on setting the right price in private-party transaction. It takes a bit of due diligence but you will be armed with the knowledge to make an informed decision during the negotiating process. Let’s see the best tools to determine how to price it right.
How Much is My Car Worth?
Know Your Market
Each city is different and there are a lot of factors that can affect the price of your car. For example, trucks and SUV’s more demand during the winter months versus convertible. You know your city and neighbourhood the best, so factor that in when your price your car for sale online.
Research Local Listings
Consider the price of other similar listings in your area. Kijiji is one of the bigger marketplaces in Canada. Compare listings and see how your car stacks up to the others, that way you can set up a competitive private listing and to get more responses.
It is also useful to research what similar cars are selling for at a dealership. Most private party buyers are price conscious and are looking for a car that is priced fair and competitive. So if you price your car for more than a dealership your responses will be low and there would be little reason people will contact you at all. Thanks for various car sites, you can easily check used car prices at from local dealership through services such as Canadian Black Book or VMR
Sell it yourself and get thousands $$$ more than a dealer trade-in. List your car on CarBerri today.
How To Price a Used Car For Private Sale
What Condition Is My Car In?
Cars that sell fast are priced fair and are in good condition. Take a walk around your car and make note of any dings or scratches. Get your car inspected and check if everything is working the way it should. Private party buyers are looking to see if your car is mechanically reliable and in good condition and can impact the final price of your car. By having this information available ahead of time your listings stands out among the rest and you can avoid tire-kickers and low-ballers that will try to convince you otherwise.
Canadian Black Book
Around for 50 years CBB is a trusted resource when it comes to providing a value for your car. The site is easy to use and gives you information such as trade-in price at a dealership and a private-party price for your car based on its condition.
VMR Canada
VMR is a great resource to help you price your car. You can add in your specific car options like heated seats and navigation to get a accurate price for your car. The site is very simple to use and takes less than 30 seconds to get a value for your car.
CarBerri
If you want to simplify the process, CarBerri’s platform tracks millions of data points on past and current prices. This data is used to suggest listing prices to sellers, resulting in an honest and informed price for buyers.
The Bottom Line
Now that you’ve done you’re research you probably have a good idea of how to price your car if you were to sell it yourself or how much you’d get at a dealership trade-in. If you decide to move forward and do it yourself understand that buyers will most likely try to negotiate. Set a price floor for yourself during the process — know that an offer below a trade-in isn’t worth your time. If you’re looking to sell it quickly, price it competitively against similar cars for sale to make your listing stand out. It helps to create an effective listing, too. We’ve learned that including nice photos and a detailed, honest description goes a long way. If you’re ever confused or need help navigating through the process, chat with one of the CarBerri Car Experts by emailing hello@carberri.com
If you don’t have the time or want to deal with the hassle — get your listing managed by CarBerri. Just by listing on CarBerri, we handle all the frustrating parts (inspection, correspondence, showings) and help you get a competitive, private-party price, which is often thousands of dollars more than a dealer trade-in. For more car advice and tips visit our website: carberri.com.
