Setting the car price
Friday 16 July 2010
Setting the right price is vital for a quick sale – too high and you won’t get much interest, too low and you’re giving money away.
There are several ways to set the right price:
• Try our Recommended Sale price tool, which is free and tells you how much similar cars to yours sell for on Auto Trader
• CAP Auto Trader valuation will give you the right price taking into account the car’s condition and extra features
• Search Auto Trader for cars of the same age, condition, mileage and those with similar extras
There are many things that affect a car’s value, including:
• Make and model
• Equipment, such as air-conditioning and alloy wheels
• Overall condition
• Rarity of model
Remember, dealers price their cars higher as they need to cover their costs and make a profit. Private sellers don’t have the same overheads, so make sure you price yours in-line with other private sellers.
The key is to price your car just above what you expect to receive, leaving room to haggle – everyone likes to think they’re getting a bargain.
Think about where you want your advert to appear in the search listings. Setting your price at, say, £995 means your advert is unlikely to appear top in the listing of cars for £1,000 and under.
Take into account the price segments but be realistic and don’t overinflate your price – potential buyers will lose interest.
• Get a car valuation to find out its market value
• Compare your car by looking at the price other people are asking for similarly equipped cars on Auto Trader
• Car price guides can give you an indication of your car’s value
• Visit a dealer to get an idea of your car’s trade-in value – anything you get over this will be a bonus
More in-depth selling advice: