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Friday, January 6, 2012

Advanced Values and Prices

Now that you know The Difference Between The Value and The Asking Price of your car, you can go further into detail to get the most accurate estimate of how much you can sell your car for.

A lot of people keep in mind a bunch of different details to look for when checking out your car. If they see your tires need replacing soon, your A/C does not work, and one electric window does not work, they are going to wonder if your price is reasonable or worth it for the repairs they may want or need to do in the future. Let's say the car you have is worth $2,500. Consider the cost of the tires is about $200, the A/C approx $100, and a window repair approx $100. Added up the total is $400. Now the obvious buyer would want you to subtract that total from the asking price upon viewing the vehicle. If you were to subtract 50% of the total added repairs ($200) BEFORE you post your add, people will be more likely to purchase at your asking price ($2,300)

Consider this equation to help you determine a fair desired asking price.

+ Value of the car
-  Deductions (50% of cost for repairs or replacements)
= Desired asking price.

For example.

    2,500  - value
-     200  - deductions
= 2,300 - desired price

Recall what I said about adding on $200-$500 to your desired asking price, so that you can get that price because people will always try to talk you down! But don't add too much, or people will not bother!