Looking to sell your car? You don't want to end up pricing your car too high and not making the sale, but you also don't want to give it away and be out of pocket for something that you really want. How does one go about setting a price that is just right?
Check out the competition
For example, if you're selling your 2015 Toyota Etios Sprint with 50 000 km on the clock, have a look on the AutoTrader website to see what similar cars (the same model/variant, with more or less the same amount of options fitted) are selling for at dealerships, as well as privately. You should also use our handy Car Valuation tool here for an accurate and quick evaluation.
Take your car to a dealership or two, just to see what they would offer
At the dealership, qualified personnel will have a proper look at the car and the condition it's in, and will probably make you an offer straight away, and you can use this price as a guideline.
Remember that the dealer still has to make a profit when reselling your car, so the amount they are willing to give you will be a fair bit lower than what you'd get if you sold the car privately, usually by about 10-15 per cent, depending on the value and age of the car.
Then, there are various other factors that affect the price...
Apart from the obvious things such as the odometer reading, age, and overall condition, optionally fitted luxuries such as leather seats and satnav can also add value to your car.
Also, do you have your car's full-service history? Is the car still under warranty? Has anything recently been repaired or replaced? Having dents and dings removed and replacing consumables such as tyres and brake pads won't necessarily increase your car's value, but it will prevent potential buyers from haggling down the price unnecessarily.
Finally, a bit of well-known selling psychology
An asking price of R179 900 appears more attractive than R181 000, so adjust your price just a smidge so it appears like a good deal. Also post plenty of good quality photos when placing your ad, with a full description of everything your car has to offer to entice potential car-buyers. To make your car selling journey even easier, why don't you Sell Your Car on AutoTrader.
Also, read our top negotiation tips for selling your car privately here.
