If your car has extra options and there are no cars with those options you should add extra money on top. You must do extra research to find out how much to add.
Keep looking at online classifieds, local classifieds until you find cars like yours. Call a dealer and ask him how much extra would these options be worth.
Go with the higher price but keep it realistic. Don’t worry about your sales skills at this point – I will cover that later in the book.
Ignore your doubts
Disregard all doubts and negativity that you can’t get this price – you are doing everything right and you deserve it – you are not deceiving anyone and you have a valuable item for sale that someone is going to get good use of.
Example of setting the price – simplified
Say after doing some research you have found some similar cars to yours. You have checked online and also the local classifieds. This is what you found.
Your Car – 2001 Automatic 40000 miles $15500 Your Car – 2001 Automatic 37000 miles $20000 – XYZ Auto Dealers. Your Car - 2001 Automatic 60000 miles $ 14000 Your Car – 2001 Automatic 35000 miles $18000 Your Car – 2001 Automatic 34000 miles $ 17999
Additionally Kelly’s Blue Book gives your car a private sale range of $14000 - $18000 for an automatic.
You have established that your car is complete and mechanically perfect.
Step 1 Ignore the dealer price
Step 2 Disregard the bottom price
Step 3 Aim at or slightly below the top price for cars of your type and condition.
“The better your research - the more confident you can be of your price”
I would set the price at $17700. If you advertise it higher than that you may not get any calls. Now I am not saying this is a hard and fast rule but time is also money. You can bring down the price gradually if you do not get any quality inquiries.
Instead of lowering your price to get calls – distinguish your car from the pack by mentioning a feature or condition that makes it worth the higher price.
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