How to choose the best asking price for your carThursday 14 November 2019, by The Media Team
In the market for a new car, or simply want to make some extra cash? Selling your car is a great way to do both, and selling on Gumtree is made even easier with the convenience of finding interested buyers in your neighbourhood. From motors to everyday items, it’s easy to connect with your community and find buyers in your area for a quick and easy sale.
How fast you sell your motor, however, will depend on what the asking price is. Keep the following factors top of mind when establishing your car’s value for an easy and efficient sale:
Market value. Input your car details when posting on Gumtree, and you’ll automatically see what similar cars are selling for.
Mileage. The higher the mileage, the greater the reduction in the car’s value.
Service records. Buyers may look to the service history as an indication of how well the car’s been looked after.
Overall condition. Take into account the costs of repairing scratches and bumps, as conditions that will diminish the asking price.
Condition of consumables. Tyres, brake pads and disks that need replacing will increase the costs the buyer will have to foot down the road.
Factory-fitted features. Desirable features such as leather seats can increase the appeal – and price – of the car.
Transferable warranties. These provide peace of mind to the buyer and can increase the car’s asking price.
Accident and repair history. Even if it’s been repaired, any previous damage to the car could reduce its value. Be prepared to explain the reason for the car’s repairs.
Time of year. Demand will be higher for 4x4s in the autumn, and convertibles in the spring. It may be worth waiting to reap a higher price.
What else should I consider?
Pick a price that looks appealing by pricing your car slightly below the number you have in mind. If you want to sell your car for £2000, for example, price it at £1995 – in real terms, there’s not much behind it, other than the fact that it simply looks more appealing to potential buyers.
Another consideration to keep in mind is that interested buyers tend to make an initial offer below the asking price, so it’s a good idea to increase what you’re asking for to factor this in.
What should I do if the car doesn’t sell?
Consult Gumtree’s guide on posting a good motors ad, then review your advert again. Do your photos of the car cover all its angles, and did you take them during the day? Is the ad title accurate and typo-free? It pays to read all the tips carefully and take them into consideration with your own ad.
What else can I do for a quick sale?
To increase eyeballs on your ad, you may want to consider several different features you can buy to help boost your ad on Gumtree. These include keeping your ad at the top of listings, or featuring it on the Gumtree homepage. Read about the different options available here.