SELL APPEAL
Just another step on the road to a buy. One of the most important steps is to determine whether it makes more sense to trade, or to sell your vehicle on your own. In this case you may want to take the seller beware approach. The used car market is on fire right now and with a short supply a good quality trades your vehicle has never been worth more. Dealers are scrambling as consumers trends are shifting towards certified used cars. With the manufactures certified pre-owned programs, consumers are choosing to buy dealer direct and the trend of searching “post houses” an insider term for companies such as Auto trader, are in some cases dwindling. This means less expose for the individual attempting to sell their used car. And with the flashy certified logos, and special financing on these manufacture backed products, being placed on these competitive sites your may get passed by, or maybe even completely over looked. Manufactures are endorsing and getting behind this market shift to pre-owned vehicles. In some cases providing additional protection for the consumer, the Certified used car market is hot. This means there are some things you should consider before you rush out in an attempt to become “your own used car dealer.”
CONSIDER THIS: Your local neighborhood dealership is open, in most cases 8am-9pm Monday thru Saturday, and 10am to 7pm Sunday. They employ a full time trained and professional sales and management staff. A receptionist answers the phone when the prospect calls to inquire about the availability of the car they would like to purchase. There is a Manager with the specific responsibility of buying, and selling pre-owned, or (used) vehicles. They spend in most cases in excess of $20,000., with the specific focus on selling used cars. They provide financing, and send millions of dollars in contracts which provides then leverage and helps on the tougher or credit challenged consumer allowing them to get approved. They have a reconditioning department to check the car out from top to bottom and stringent safety check procedure on every pre-owned vehicle they sell. With all of the staff, advertising, on the spot financing, reconditioning, and focus the average used vehicle still manages to stay in inventory between 20-60 days in some cases. So often the guide values change and the values drop making it even more difficult to sell.
CONSIDER THIS: You will place a tiny little twenty dollar add in the newspaper next to hundreds of others just like yours, park your car on a busy street corner with a sign you can barely read while driving buy. And no doubt someone will park a beat up jalopy next to your “Perfect Car” driving the value down and killing your cars “Sell appeal”. You may place an online ad where the dealers spend thousands to out rank you when an individual is searching for that one of a kind used vehicle. After all there is a trained automotive marketing expert who does this day, after day. You will have to be there when your prospect calls, arrange a time for a “demo” test drive. You will have to make sure their check does not bounce, and pray they can obtain financing. Then the big factor do you want a stranger meeting you in the middle of the night for a test drive?, do you want to let them know your work hours so they can break into your home or ‘Buy your trade for free?” Basically, steal it and I do not mean for less than it is worth. Oh and gentlemen, do not just send some stranger to your house to have your wife take care of it.
CONSIDER THIS: There are also some tax benefits you should consider when trading in your vehicle. Some states Arizona being one, tax only the difference between the sale price and the value of the trade. Here is an example you agree to purchase a vehicle for $20,000. You have a trade which is worth $10,000. You would only pay tax on the difference of $10,000. or approx $800., as opposed to paying tax on the full amount of the purchase price or $1,600.When you use that” Perfect Car” as a trade you are really getting $10,800 of value with the applied tax savings. So when considering becoming your “own used car dealer’ remember if the dealer is offering you a less then you think your trade is worth, you may actually be getting more than you think. How much easier can it be? You do not have to sit on your car waiting for it to sell either, possibly missing the rebate or the 0% financing that started the whole buying process in the first place. To make a smart decision whether it is as a buyer or seller you need to first become a student of the business and take advantage of the information provided for your consideration. The only safe consumer is an educated consumer, take into consideration, time, effort, money, exposure and in some unfortunate situations even safety.
Consider contacting the Dealer to streamline your buying and or selling process.
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