One of the most important aspect of selling your used car in the UAE is to price your car to sell it properly. Knowing the value of your used car is becoming popular among car owners, regardless of whether they are car sellers or not. This is because there have been multiple cases of fraudulent activities from the buyers, especially when it comes to negotiating the price and settling the payment method.
In order to avoid such possible incidences, it’s important for car sellers to know how to set the car prices. But the process of setting the price of your used vehicle may be different for each car selling method. Therefore, you need to make sure that the method you choose fits your criteria.
Here are some of the step that you can take in order to set an appropriate price for your used car before you put it up for sale.
Research first in order to Price your car to sell
If you are someone who is going to sell their used car for the first time, it’s better to have some prior knowledge of what you are getting yourself into and how much you are possibly going to earn against your used car.
The first and foremost thing that you need to do is to find out what reliable methods are available in the used car. These methods are online as well as offline. Some of the major methods used by majority car owners including car sellers are online car valuation website, certain car dealerships or individual car experts as well as specialist car buying companies.
It’s important that you research about the current trends of the used car market, which type of cars are in most demand and what is the prevailing price of these vehicles. Once you know this, you can price your car to sell in the right way. Ask around in the market regarding that outlets that have a reliable reputation. Surf the internet for such places, how do they work and how much time they take to figure out car prices is also a good option.
Get an Online Car Valuation
With everything going online, it makes sense to have an easy access to knowing the value of your used car through the internet. That’s where these websites have emerged. They have a dedicated calculators that are used to figure out value of a used car within seconds. With these websites, you can easily price your car to sell by using these free calculators.
How they work? The users just have to fill out a few required details regarding their used vehicle. These details mostly include the make, model and age of the car, the mileage, engine specification among other major information. It is through these details that the calculator filter out possible value of the car in question.
These websites are easy and convenient to use. Convenient in the sense that access to the internet is available in most of the places now in the UAE area. So, car sellers can visit these website conveniently and even on the go and get a quote against their used car. Easy in the sense that there is not much technical information needed in these calculators. Only a hand full of major details are needed, which can be filled in few minutes only. Even a car owner, who is a layman when it comes to cars, can easily use these websites and get an instant figure against their used automobile.
On the other hand, these websites give an estimated figure of the value of your used car based on the lack of information required. It is mostly an overestimated figure that is quoted and these figures may be used misleadingly in order to set the price. So it is advisable not to use these figures to set a sell car price as they may be not realistic and too overprices for grabbing buyers attention.
Know the Car’s worth through car dealerships
Another option for car sellers to use in order to know the car’s worth is through car dealerships. There are certain car dealerships that provide the service of giving a car valuation. Being a car dealerships, they are aware of the prevailing trends in the used car market as well as which type of cars are in demand. Therefore, they are much experienced in figuring out a realistic price for the used car. This can also be taken as a true value of the car, but they often give you a low price of your car to maximize their own profit.
Nevertheless, these car dealerships are mostly profit oriented businesses. Their sales representatives are also hired on commission who may try to use fraudulent activities in order to devalue the used car or rip off the car sellers.
Price your Car Competitively
When you are selling your used car privately then you will surely have to set the price of the car yourself. When you are researching, make sure that you take into account the prices that other sellers have set for a similarly used car.
Setting the price of a used car by yourself may be a tricky business, as you have to be careful to set just the right price that may attract the buyers while keeping your afloat in terms of a handsome and worthy return. Therefore, every car price should contain its true value as well as the profit margin that the car owner needs to earn.
You can use the psychological pricing strategy whereby you set the car price just below the benchmark. If the car price is coming out to be AED 100,000 then keep it as AED 99,980 in order to give the buyers an illusion of it being priced lower. As a private seller, they can also take a simpler approach by using round figures.
Specialist Car Buying Companies are a Better Option
Last but not the least, car sellers can always go to specialist car buying companies to get a free physical car inspection and know the true value of the used vehicle. Potential car sellers can book an appointment online for an inspection in one of their service centres. Their professional car experts will take a few minutes to inspect the condition of the car, put it up for an automated car auctioning system and select the best offer from among them.
This is the most efficient and convenient way of knowing a realistic price for your used car. There is no such research required and the whole procedure takes just a few minutes only to complete. The car sellers also have the option of refusing the offer that is presented and try again.
These are some of the steps that you can use in order to price your car to sell in a realistic manner in the UAE.
If you want to sell your used car then remember that we buy any car in just 30 minutes. Try our free online valuation to sell your used car.