Step 4: Where to Advertise Your Car

Now that your car is looking great and running well, it's time to advertise it for sale. In the past, people advertised in expensive newspaper classified ads. But now, on-line classified ads are the preferred method, not only for convenience, but also because they have a wider geographical reach.

Social media: Use Facebook and Twitter to let your circle know you are selling your car. Ask your contacts to spread the word.
Message boards: Many online car forums have classified sections in which you can list your car.
Word of mouth: Tell your friends, co-workers and family.
The car itself: It's old-fashioned, but putting a "For Sale" sign in the car window can be an effective way to sell it.

One last word of advice about advertising: if you run a classified ad, be sure you are available to take phone calls from possible buyers. Many people won't leave a message for a return call. So answer the phone — and be polite. Creating a good first impression is the first step in getting buyers to see the car in person.

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Step 5: Create Ads That Sell

Think about what you are telling people when you write your ad. Little words convey a lot. Besides the price, your ad should also include the year, make, model and trim level of the car you are selling along with the mileage, color, condition and popular options.

When creating "For Sale" signs or putting an ad online, you have an opportunity to show how eager you are to sell the car. Do this with the following abbreviations and phrases:

Must Sell!: This often means the seller is leaving town and needs to dump the car at a fire sale price.

OBO: This stands for "or best offer" and it indicates that you are willing to entertain offers below the stated price. This usually means you are eager to sell the car.

Asking price: This also communicates the feeling that you will negotiate, but it is one notch below OBO on the eagerness scale.

Firm: This word is used to rebuff attempts to negotiate. It indicates that you aren't in a hurry to sell the car — you are most interested in getting your price.

Step 6: Showing Your Car (part 1)

There are many unexpected bumps in the road that can arise while selling a used car. These will be handled easily if you are dealing with a reasonable person. So, as you are contacted by prospective buyers, use your intuition to evaluate them. If they seem difficult, pushy or even shady, wait for another buyer. With the right person, selling a used car should be simple.

Some sellers feel uncomfortable about having buyers come to their house to see the car. However, you can generally screen buyers on the phone. If they sound suspicious, don't do business with them. If you don't want people knowing where you live, arrange to show the car at a park or shopping center near your home. However, keep in mind that people will eventually see your address when you sign the title over to them.

Keep in mind that when you sell your car, people will also be evaluating you. They will be thinking, "Here's the person who's owned this car for the past few years. Do I trust him or her?" Buyers will probably be uneasy about making a big decision and spending money. Put them at ease and answer their questions openly.

Step 6: Showing Your Car (part 2)

Potential buyers will want to test-drive the car. If in doubt, check to make sure they have a driver license. Ride along with them so you can answer any questions about the car's history and performance. Also, they may not know the area, so you might have to guide them.

Some buyers will want to take the car to a mechanic to have it inspected. If you have an inspection report from your mechanic, this might put their doubts to rest. However, if they still want to take the car to their mechanic, this is a reasonable request. By now, you should have a feeling for the person's trustworthiness. If you feel uncomfortable or have reason to think they will steal the car, decline the offer or go along with them.

Be ready for trick questions such as, "So, what's really wrong with the car?" If you get this, refer them to the mechanic's report or invite them to look over the car more carefully.

Step 7: Negotiate for Your Best Price

If a person comes to look at the car and it passes their approval after a test-drive, you can expect them to make an offer. Most people are uncomfortable negotiating, so their opening offer might take several forms.

"I like the car, but…." This is the softest way to negotiate on the price. They may not even state that the price seems too high. If they say, "I like the car, but…" and then lapse into uncomfortable silence, you might consider an appropriate response. If you really want to move the car, you could say, "How much would you be willing to pay?"

"What's your best price?" This is a more direct way to probe the seller to find out how much he or she will come down. If you get this from a prospective buyer, don't seem too eager to reduce your price.

"Would you accept…?" Now we're getting somewhere. This buyer has thought it over and is making an offer. But the offer is being presented in a polite manner designed to allow for a counter offer.

"Take it or leave it." This buyer is making an offer that supposedly leaves no room for a counter offer. In reality, this buyer might be bluffing. Still, they are sending a message that they are close to their final price. The only way to know for sure whether it really is a "take it or leave it" offer is to leave it — and let them leave. They may return tomorrow ready to pay your price.

The above are just a few of the openers you might encounter. Think of your responses ahead of time so you won't be caught unprepared. In general, it's a good idea to hold to your price when your car first goes up for sale. If you don't get any buyers right away, you'll know you have to be flexible about the price.

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Step 8: Handling Complications

In some cases, you might reach an agreement with a buyer that is contingent on performing repair work on the car. This can lead to misunderstandings down the line, so avoid this if you can. The best thing to do is have your car in good running order while being fully aware of any necessary repairs. If you state clearly in your ads that the car is being sold "as is," you can refer to this statement when it's time to close the deal.

Still, a trip to the prospective buyer's mechanic might turn up a new question about the car's condition. What to do?

This must be handled on a case-by-case basis. If the repair is needed and you trust the mechanic's assessment, you could propose reducing the agreed-upon price by all, or part, of the amount for the repair. If the repair is questionable but the buyer is insistent, split the difference, or have the car taken to your mechanic for further evaluation.

Remember, the older the car, the more a mechanic is likely to find. At some point, you have to draw the line. You may have to say to the buyer, "True, this work could be done. But the car drives well as it is. And the proposed repair isn't addressing a safety concern." After all, a used car — particularly an old one — isn't expected to be perfect.

Step 9: Finalize the Sale

When selling your car, it's important to limit your liability. If someone drives away in the car you just sold and they get into an accident, can you be held responsible? There are two ways to deal with this concern.

Once you have the money from the sale (it's customary to request either cash or a cashier's check), record the odometer reading and sign the car's title over to the buyer.

But what if you still owe money on the car, and the bank is holding the title? One way to deal with this is to conclude the sale at the bank where the title is held. Call ahead and have the title ready. Then, once money has changed hands and the bank has been paid the balance of the loan, sign the title over to the buyer.

Finally, remember to contact your insurance agent to cancel your policy on the vehicle you have sold (or transfer the coverage to your new car).

Step 10: After the Sale

In most states, the condition of a used car for sale is considered "as is" and no warranty is provided or implied. Therefore, if the car breaks down after you have sold it, you are under no obligation to refund the buyer's money or pay to have it repaired. If you have sold a car to someone who took it for inspection at a garage and the mechanic found nothing wrong with it, you have done all you can to protect yourself and the buyer.

When done correctly, selling a used car can be a win-win situation. You have turned your used car into cash and provided reliable transportation for the next owner. Focus on the benefits to both parties and you are likely to have a smooth and profitable experience.

Checklist

- Consider market factors affecting the sale of your car (don't try to sell a convertible in the winter), for example.
- Check online classified ads to see what others in your area are asking for your type of vehicle.
- Determine a selling price for your car
- Give your car "curb appeal" by cleaning and detailing it. Fix any problems or drop the price and sell it "as is."
- Consider buying an Autocheck.com vehicle history report, or getting a mechanic's inspection report to show prospective buyers.
- Create a "For Sale" sign for your car window.
- Post an eye-catching online classified advertisement.
- Make yourself available to answer calls from potential buyers.
- Arrange to show the car to prospective buyers.
- Negotiate your best selling price by knowing the market and not dropping your price too quickly. Be patient. Don't let yourself be pressured.
- Collect payment for the car by getting a cashier's check or cash.
- Finalize the sale by fulfilling all state motor vehicles department paperwork to transfer ownership and limit your liability.
- Remove all personal items from your car before the new owner drives it away.

Good luck!

If you are planning on selling a car in Nigeria, you probably already know of the difficulties in selling domestic cars in the country. This is because the import of cars from dealers based in the United States is very popular in the country. In order to counter this, you need to make sure that you are marketing your products rightly in the market and showcasing a reliable and trustworthy picture to prospective customers. One of the best and easiest ways to sell a car in Nigeria is by registering online and selling your cars via the Internet. Carxus.com is one of the best websites for the same.

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