sanstoette

This thread may seem odd, but I'm trying to decide on the best way to sell a car. I know that everyone has a different opinion on the matter, but I'd like to see where others stand.

1. How much should I disclose in the ad? Recent Maintenance? Future Maintenance Required?

2. How much should be disclosed voluntarily? Known Problems? Undiagnosed Symptoms?

I tend to be honest, and if asked any questions related to the item I'm selling... I'm 100% honest. I also seem to notice squeaks, rattles, suspension issues, motor issues that most people do not as I am a backyard mechanic. Should I volunteer this information on a test drive, or leave that up to a buyer?

3. Should I ride along for the test drive, or is this a case-by-case basis?

4. How do you determine pricing?

In the past I looked for comparable cars on Craigslist primarily, and then compared KBB/NADA. When comparing do you only look at private owned cars, or dealerships as well?

5. How much do you start above bottom dollar price... constant, or percentage?

I look at anything on Craigslist as a place to start haggling, but on the same hand you always want to come out above bottom dollar.

I know there is not a 100% formula, but I figured it'd be interesting to see how others sell cars.

djsurfer

iTrader: (2)

Craigslist/other websites to check prices for the same car in similar condition that are not over priced. Compare that to your car and make slight price adjustments from there. That's the way Ive always sold my cars and I achieve a fair asking price.

sanstoette

With that in mind our local cl only has a few comparable vehicles... do you favor mileage or year? Does first year of a new model generally affect the price? What if a comparable vehicle has a salvage title, similar appearance, but about half the miles?

YoshiMan

I always post ALL the obvious issues the car has, that way when they show up they won't be surprised and inevitably offer you half of what you want and end up wasting your time. But just do it with things that are going to be noticable/safety issues. Like if the brake pads are low, but not grinding, i wouldn't nessisarily make it a point to make them aware of it!

sanstoette

Mine has a few minor issues that don't really affect drive-ability much. For instance...

It's high mileage, and on sharp bumps you can tell the trailing arm bushing need to be replaced.

I've blocked the power steering vacuum line into the intake, but I still leak about 1/8 quart every 5,000 miles.

The car smokes at start up if it sits for more than a week... probably valve seals.

Personally I wouldn't be concerned about taking a cross country trip, but I am aware of a few known issues.

Legender

All that taken into account...determine how much time/effort you want to put into the sale.
Do you want to recover as much money as possible or just get rid of it? Do you want to sell it in a week? or take as much 2 months? It's all about timing and meeting up with the right guy.

If you want to make as much money as possible... then you need to make it dealership new, take great pictures, flaunt the good...and disclose the not so good.
But people looking for perfection should be wiling to pay top dollar... knowing you've got some flaws you'll need to come down in price. Generally you should be aware of NADA trade in values and you should be able to sell close to the condition that it's in.

If the car drives and looks better than the numbers, then you need to get someone to see it first, then they'll buy based on what they see... at the same time... don't divulge too much online or you'll never get a looker... break the bad news in slowly...

Never buy or sell in a hurry if you want to make the most money... good luck. I'm sure you'll get plenty of advice from this site...

sanstoette

Well I think the car photographs well, and aesthetically I think its 98% especially compared to others of the same age/mileage. I think as far as I'm concerned the issues I've listed do not make sense when you look at cost vs. profit increase. I've had the car listed for 2 weeks at this point, and I've only had 2 calls so far. One person asked if he could see 26mpg mixed, and I let him know that Ive seen 20.5mpg since I purchased the car. The other caller asked if I would finance the purchase. From my research I listed mine at $3500.00 with my low end at $3,200.00. On the other hand I have a guy that's considering buying a plane ticket to purchase my car with cash from another forum. Any opinions on Firm vs. Best Offer? I just dropped my price to $3300, but I wonder if that's preferred over $3200 Firm.

sanstoette

Well I've got a guy on the way this afternoon to view my car, and I'm thinking it would be a good idea to know of a notary available. Are you guys aware of any chain stores that have notary's available later in the evening? Or do you basically sell the car, and meet up on a second occasion to have titles signed over?

LScowboyLS

- if he wants the car, just go down to the bank, they have notaries there, if you really think a notary is necessary and don't sign anything without seeing CASH - no checks, cashier's checks, money order's etc. - people who are serious either bring cash or bring some instrument they can cash at the bank - even a "cashier's check" that the bank accepts for deposit, can later "bounce" - leaving you holding the bag.

I would disclose everything I know about the car's history, but don't mention squeaks, rattles, etc. that is for the buyer to evaluate, perhaps he has hearing loss and would never even hear them or be bothered by them - what year is the car and how does the driver's seat look?

as far as how to price the car, most people like to get you down some, say 10%, so price accordingly, but there are exceptions, when I bought my 96, it looked like it just rolled off the showroom floor, so I didn't even try to talk the guy down, didn't want anyone else to get it out from under me!

1sWt2GS

iTrader: (6)

Post it up on clublexus

sanstoette

LSCowboy: The buyer has cash in hand, but he's only available to meet up after 630pm. NC requires the title to be notarized when the title is exchanged.

1sWt2GS: I don't have the required post count to post in the classified area.

Legender

While we don't require notaries in TX for title transfers/sales... you might do a search on mobile notaries...of course, that may cost some... but I think there are some in your state...