A luxury car is different from an ordinary car. Nowhere is this more obvious than when it comes to selling your vehicle in the second-hand market. We provide seven tips for a luxury car sale.
The Market for Second-Hand Luxury Cars
Luxury cars are only available to buyers with the money to afford them and a liking for the attached lifestyle. This means that you have a relatively small market to sell to and you need to be judicious about where you advertise. You are likely to waste time and money using the normal channels for second-hand vehicles.
Online auctions are worth considering as a sales channel. As potential buyers bid against one another, the selling price may keep rising beyond what you were expecting to get. Other channels may not get you the desired amount.
Arrange for a third-party valuation to get an idea of how much you should get out of selling your luxury car. This is especially useful if you go through a dealership as they are inclined to offer less than the real market value of vehicles. After all, they need leeway to add to the price to make a profit when they resell your car to a private client. Your vehicle may also have depreciated, which is helpful to know before engaging with potential buyers.
You will want to conduct some market research to see the price tags of cars of the same make and model. This will help you justify your selling price to prospective buyers.
Get a Full Valet Service
Make sure your car is spotless by having a full valet done. An impeccably cleaned car suggests that it has been taken care of and should be in good condition. Ask the valet service to make a list of any items that are broken or missing.
After the car has been valeted is the best time to take photographs of the exterior and interior for advertising. You may gain the interest of an international buyer who would rely on these pictures and a mechanic’s report to reach a decision as they will not travel to your country to view the car.
Negotiate the Price
You should have a fair understanding by now (after your research) about what your luxury car is worth. Start quite a bit higher with your asking price but be prepared to drop this figure. However, don’t go below the minimum you have determined. Instead, wait for another buyer who will pay a fair price.
Places to Sell Your Luxury Car
Look for a specialist who is a professional buyer and seller of luxury cars. Such a company will have a good idea of ballpark figures for a model and make. They will know what cars such as yours are currently fetching and won’t haggle to cheat you out of a fair price. You can explore traditional brick-and-mortar businesses, but you can even find reputable online companies if you are looking to ‘sell my Porsche’ for example.
How to Treat Potential Buyers
Be friendly and answer any questions from a potential buyer. Offer additional, unsolicited information as this builds trust and rapport. Throw in any accessories that came with the car for free.
Following this guide will take the stress out of selling your luxury vehicle.