With the average car on Australian roads being more than a decade old, chances are it’s been a while since you last had to sell a car.
A lot can change in a few short years – let alone a decade – so if you’re taking the same old approach to selling your car, chances are you’re a bit behind the times.
So we’ve compiled a list of the top 6 things to remember if you haven’t sold a car in a while.
1. Prepare for the long haul
It takes roughly 45 days on average to sell a car privately in NSW. That’s a helluva long time to be dealing with text messages at all hours of the day and night, constant timewasters and buyers that ask to see your car and never show up.
Holding out for the ‘right’ price is rarely the best option as your car will cost you a lot more than you might expect over 45 days, even if it never leaves your driveway. The registration and service clock is still ticking away so consider just how worthwhile it is to wait for the ‘right’ buyer.
2. The first offers are usually the best offers
It’s a fact that most car owners tend to overestimate the value of their car and often start by advertising it for far more than it’s actually worth – it’s known as the endowment effect, look it up!
It’s also a fact that the first few offers you receive are likely to be your best offers. This is because there are buyers that have been in the market for weeks or even months just waiting for the right car to pop up, and when it finally does they know exactly what a reasonable offer looks like.
3. An offer isn’t really an offer
Prepare yourself for dozens of “offers” to hit your inbox with very few of them backed by any genuine interest to buy.
Holding out for the right price because someone texted you a higher number a few weeks ago then disappeared is not the same as the person standing in front of you with cash in hand ready to go.
Spotting a fake offer is simple – if they haven’t asked to inspect the car, then chances are it’s not a geunine offer.
4. Prepare for trawlers
The anonymity of online classifieds websites have given rise to a new type of buyer that trawls through car listings making dozens of lowball offers, hoping some poor desperate soul will take the bait.
If you receive an offer for half of what you’re asking or even less, then chances are you’ve just been trawled. The best way to handle a trawler is to resist the urge to reply, because just like a fish on a hook they will do their best to slowly reel you in.
5. There are smarter ways to sell your car
Uber changed the way we caught taxis, Airbnb changed the way we booked hotels and now HelloCars is changing the way Australians sell their car.
Before you try selling your car on your own, get an obligation-free offer from HelloCars to sell your car easily and without the hassle.