Selling A Car? 7 Negotiation Tips That Will Never Fail You

When you decide to put up your beloved car for sale, you can either sell it privately, sell it to a used car dealer or trade it in for a new car at a dealership. When selling a car, there’s a market value for the car that’s decided based on the car’s demand, age, mileage, condition and number of previous owners.

The reality is that potential buyers of your car will likely make you offers below the market value. Your negotiation skills can make all the difference in getting the price your car is truly worth, or even beyond, for your used car. This article will give you the negotiation tips for the best chances at a success story when selling your car. Or, can use the CARS24 online used car valuation tool for a fair price, sell your car to us and buy your next car all on one platform.

Join the CARS24 official car community, AUTOVERSE for more insights, discussions and more. 

Why Negotiation is Crucial When Selling a Used Car

India’s used car market at $34 billion is only 3 percent of the global $900 billion market (as of 2023) but is projected to experience big growth in the coming years. Like in other markets, India’s second hand car market is surging forward with continually decreasing age of used cars available, better quality used cars and the rise of organised players, such as CARS24. Organised players streamline both the selling and buying process, along with value-add services such as detailed technical checks, financing and insurance all in-house. 

For those still wanting to sell their used cars privately, the unfortunate truth is that bargaining will be a part of it. Currently, there’s a demand for “young” used cars (between 3-5 years old) and not enough supply, which is driving prices up. This can be seen as an opportunity if you’re thinking of selling your car within that age. Otherwise, as a seller, you can expect challenges such as low offers, time-wasters, fake offers and generally an experience that can test your patience. 

However, you can always put your negotiation skills to good use to get the price you want for your car. The goal with negotiation is always to get a better deal for both parties. In the case of selling a used car, negotiation is the key to a successful sale. 

7 Negotiation Tips That Will Never Fail You 

The first step in selling your precious car is to properly research its market value so that you don’t end up undervaluing your car, or even worse, overvaluing it. An undervalued car may actually be the key to a quick sale if you are in a hurry. However, overvaluing your car could lead to a very slow sale or no sale at all. 

Research the Market Value of Your Car

The correct way to research the market value of your car is to keep an eye on the used car market and watch for cars similar to yours in terms of age, mileage and condition. Speak to used car dealers, online private sellers, and other people in your social circles who have bought/sold a similar model — you should get an idea of what price these cars actually end up selling for. 

Present Your Car in the Best Condition

The best way to ensure your car’s resale value years later is to take care of it. But even a well-cared-for car could use some help to bring it to its best condition. Be sure your car is clean inside and out, at the very minimum. A car that’s been thoroughly detailed and polished will be as close to new as possible. The cost of detailing a used car usually pays off in a better selling price. 

Be Clear and Transparent About Your Car's Condition

Traditional wisdom would say a car that’s too clean or shiny is suspicious, as a seller might be trying to hide its previous rough use. We would say clean your car and shine it up anyway but be transparent about your car’s condition. Be honest about any issues you’ve faced with the car and what corrective actions you’ve taken, if any. It’ll help build trust with potential buyers. 

Start with a Slightly Higher Asking Price

Everyone loves a good bargain, or at least the idea that they’ve got a good bargain. As a seller, that entails deciding on your ideal price for your car and the lowest price you will accept. Start with a slightly higher asking price than your ideal price and let prospective buyers bargain down to it, within reason of course. 

Highlight Unique Selling Points

If your car has never been parked on the street and garaged its entire life, make sure you point out how good the condition of the paint is, how there’s no rust or sunlight UV oxidation on the plastics and such. Similarly, if your car has always been driven by a single driver carefully, encourage the buyer to take a test drive with you and feel how smooth the engine and gearbox is, how there are no rattles or squeaks from the body/suspension and so on. If the car has special features that add value to it, provide evidence of the same. Highlight low mileage, and service records as they will add value. 

Stay Calm and Confident

While any used car ad is bound to attract fake offers, lowballers and time wasters, remember that there are also genuine buyers out there; people who are tired of dealing with shady used car dealers and misrepresented cars from online ads. Stay calm in dealing with the time waster, the right buyer could be the next one. Be confident in the value your beloved car can bring to its new owner.

Be Ready to Walk Away

The golden rule when selling your car is to be ready to walk away and not just sell to the first buyer who shows interest. It’s a good negotiation tactic to also have a few buyers on hand, as long as they are genuine. This will allow you to negotiate a better price and have a successful sale.

Mistakes to Avoid During Negotiation

When selling your car, some mistakes are easy to make during negotiation and it can end up costing you. Some of these mistakes to avoid during negotiation include: 
 

• Not knowing the market value of your car 
   
• Being inflexible when it comes to your selling price 
   
• Being too emotional about your car and wanting it to go to only the “right” buyer
   
• Not having a detailed service history 
   
• Not allowing proper inspection through the buyer’s mechanic 
   
• Not allowing test drives 
   

A genuine buyer comes to check out your used car for sale, with their family. They end up loving the car but can only offer just short of what your ideal price is but still above the lowest price that you set for yourself. Being inflexible on price here can cost you the chance of having your loved car go to a good home. 

Negotiation Tips for Selling Your Car Online

Online platforms such as Facebook Marketplace can be a valuable tool when selling your car online, both in helping your car reach prospective buyers and in determining the correct market value of your car. At the same time, online platforms have also led to several fake ads, from sellers or dealers merely looking to inflate the prices of used cars — online pricing is not always accurate. Roughly speaking, online used car ads are anywhere between 20-35 percent higher than actual market value. 

You can use this to your advantage while selling your car online. Post your used car ad with high-quality clear pictures showing the condition of the car from all angles and write a description that covers all details. One thing to remember is to leave negotiations till after the buyer has had a chance to inspect the car in person. Never disclose personal financial information till you establish trust in a buyer — never scan any QR code any potential buyer may send you.

Conclusion

Armed with these negotiation tips to sell your car, you should have a successful sale. If all goes according to plan, your cherished car will go to another buyer who will get as much joy out of it as you did.