Every market has buyers and sellers. As economic conditions change, the market will sometimes favor the buyer and sometimes the seller. Because of the oversupply of homes listed for sale, the housing market is currently benefiting the buyer, but that’s not the case in every market.
TUTORIAL: Reduce Your Carbon Tire Print
If you’re planning to sell your used car, the market is currently putting you in the driver’s seat when you sit down at the negotiating table. The New York Times reports that the value of used cars two to five years old has gone up as much as 20% in just one year. A fuel efficient compact car that would have fetched $8,798 in 2010 is now catching bids of as much as $10,500, but those prices are dependent on a variety of factors. Here’s what you can do to make sure your used car is ready to catch the highest offer. (For related reading, see Car Shopping: New Or Used? )
Clean It
This may seem a little obvious, but this shouldn’t be a typical trip through the gas station car wash. Spend the $150 to have it professionally detailed so it looks like it did when you first purchased it.
Make It Look Like His or Hers
A perspective buyer wants the car to look like his or hers, not yours. Remove all of those personal knick knacks that add a little bit of you to your vehicle. (For more advice on purchasing a car, see Car Shopping: New Or Used?)
Fix the Body
Small dents probably won’t be too expensive to fix and you’ll probably get a large portion of the money back when you sell it. The difference between “excellent” and “good” is substantial when somebody is assigning value to your car.
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