7 tips on setting the right asking price for your vehicleBy Kijiji Autos
We’re often so attached to our old car that we overestimate its dollar value. But the used car market doesn’t care much about our feelings, nor for the vehicle’s backstory, unless it’s a vintage car.
Here are 7 tips to help you set the right price for your used vehicle:
1. Age and mileage
Unlike wine, cars don’t gain value as they age. On the contrary. It’s common knowledge that within its first year a vehicle’s worth drops by 30%. And while in subsequent years the decline is less extreme, there are still a few things you should try to avoid. For example, if your vehicle has been overused and driven tens of thousands of kilometres every year, it will lose its value faster. Remember that most vehicles are driven an average of 20,000 kilometres per year or even less.
2. Market prices
You can thank Kijiji Autos for this one! Unless you’re selling a rare gem, Kijiji’s search tools will enable you to find one or more models similar to yours. You’ll therefore get a very good idea of the commercial value of your vehicle. But remember, not everyone has read our sage advice before pricing their car.
3. Make and model
You don’t need a crystal ball to understand that the vehicle model has the biggest impact on its base price. But you also have to consider the model version as well as the on-board equipment. If you opted for the fully loaded model with a high-end sound system and electric sunroof, you can add a few hundred dollars to your asking price. However, if you bought the pared down version with manual crank windows and no air conditioning, you may have to lower your price. An automatic transition is also likely to give you a financial edge—unless you’re selling a sports car!
4. Additional features
Did you add a roof rack, bike rack, trailer hitch or even decorative eyelashes to the front of your car? Don’t forget these add-ons when setting your price (the eyelashes may be less of a draw). You might also want to think about adding the cost of your winter tires, if possible.
5. Rust, wear and tear
Your car has survived the worst of winter, but has its paint job? Are your floor mats showing the effects of years of salt stains and kids’ snacks? Have your pup’s claws left telltale marks on the back seat? Unfortunately, your price will have to reflect this.
Nothing too mysterious here. If your car has been in three accidents or had two open-engine surgeries, you’ll have to bring your price down.
7. Needed repairs
You know your vehicle well, and you realize it needs a little TLC. Keep in mind that its future owner will have to spend a few dollars to restore it to tip-top shape, so it’s your job to adjust the price accordingly.
By following these tips, you should be able to set the right price for your beloved car and attract a host of potential buyers!
Easily find your next ride on Kijiji AutosSearch now
4 ways to tell it's time to change your car
One thing to keep in mind is the immediate depreciation that new cars suffer from. Unless you’ve bought a very rare sports car, count on your car losing around 20% in the first 12 months after you drive it off the lot. Every year after that could knock another 10% off, so keep that in mind when...
Short guide to the perfect car photo
The same rule applies when advertising your used vehicle. You want it to stand apart from the crowd. By displaying high-quality, realistic photos of your vehicle, you’re sure to grab the attention of buyers. Above all, you’ll proudly present it in its best light! Our short guide to the perfect...
How do I write an ad for selling my car?
If you’ve already asked yourself “how do I write an ad for my car?” chances are you’re already motivated and anxious to sell your vehicle to the right buyer. Whether you’re ready for an upgrade or want to trade in your sports car for a family-friendly vehicle, you need to you sell your current...
Here's how to sell your car easily
Sell your car at a reasonable price If you’re wondering, “How much should I sell my car for?” remember that most buyers are filtering their searches by price. That means that your car’s year, make and model are often not the most important things on a buyer’s list of priorities. Make an honest...
How to take great pictures that will help sell your car
One of the biggest benefits of using Kijiji Autos is the sheer amount of choice. Buyers can browse a wide selection of makes, models and trims – and it's easy to make comparisons between them, for price and a variety of other factors. Your well-being remains our top priority. Please seriously...
Don’t make a lame car ad
With plenty of classifieds postings for vehicles out there, you can't afford to post a car ad that doesn't stand out in a good way. Ads with no photos and barely any useful information are a turn-off for serious buyers who simply don't have the time to email each ad asking for more details and...
Our tips for writing your used car Ad
You’d love to sell your car. It’s still in great shape, but you’re ready for a change. There’s no better time to place an ad and find it a new home. Beware: writing an ad that will catch the eye of the right buyer can’t be done on the fly. You don’t need to be Shakespeare, but you should take...
10 things to highlight when selling your used car
Even if you still love it, your tastes or needs have changed, and someone else might enjoy the vehicle more. It’s time to put your car up for sale at a reasonable asking price.Keep in mind, however, there are thousands of used vehicles on the market. Why would a serious buyer look at yours in...
Making the most of your contact with a potential buyer
Your ad has attracted the attention of dozens of potential buyers, some more serious than others. Of course, your used vehicle looks amazing, it’s a model that buyers desperately want, and its popularity is undeniable. And yet… You’ve been receiving emails from interested buyers, but the...
Everything you need to know about trading in your car
If you think it's time to upgrade your everyday vehicle, but you don't want to bother with selling it privately, then trading your car in is likely the option for you. Trading in refers to the process of applying the value of your current car towards a new or gently used option at a dealership.