Three Tips for Selling a Used Car

A stagnant economy has caused a drop in new car sales, and made the used car market more competitive. If you're considering that old jalopy, here are some essential tips.

The stereotypical used car salesman is distinguished by his sharp tongue and distinctive lack of ethics. While there are many slippery hucksters on the market, the sales people who profit the most from used cars sales employ slightly different tactics. They research the competition, price their cars correctly, and market them effectively. Here are three proven tactics to help you sell your own used car.

1. Consider the market

First, think about the person who's likely to buy it. An old compact car, for example, might sell well on a college campus. A muscle car is likely to sell better in rural areas, or near a military base. And a larger family car will find a market out in the suburbs. Try to qualify your target group before you begin the selling process. It will streamline your decision-making process further down the road.

2. Price your car correctly

Pricing your car accurately is a critical part of the sale. After all, people will be paying from their own pockets, not using an auto loan. Slap a sky-high price on your car, and no one will touch it. Price it too low, and you risk losing money.

To determine the best price, spend some time doing research. Your first stop should be the Internet. Visit the multitude of car buying sites, and comparison shop identical makes and models. Then, stop by the website of Kelly's Blue Book (www.kbb.com), which features new and used prices on cars, all geared to the specific condition of the automobile. Finally, look at the classified ad section in your local newspaper. The market in your area may differ slightly from the information you find during your online research.

3. Clean up your act

If you roll out a dirty used car filled with garbage, don't count on a sale anytime soon. Put a little elbow grease into cleaning it up. If there are some scratches in the paint, find a local auto body repair specialist to do some spot touch-ups. Reach into your pocket, and fork out the money to have your car detailed. (A car detailing is an extensive cleaning process that includes a through washing and waxing of your automobile.) Once you have a pristine product, you're ready to sell.

Selling a used car requires a great deal of advanced preparation. Take the time to firmly establish your target market, do some digging to find an accurate price for your car, and have your car thoroughly cleaned. Then, you can begin marketing it, choosing advertising venues and messages that will appeal specifically to your target audience. With a solid product and a great promotional strategy, you should be able to sell your car faster than the most adept used car salesperson.