In a perfect world, we could simply put a “For Sale” sign on our used cars and someone would pay whatever we ask. Realistically though, that’s not the kind of world we live in. Unless your vehicle was featured in the “Fast and The Furious” series, the odds of you getting a large amount of money for it aren’t high.
However, there’s still hope! Since 2008, Big Valley Auto Auction has helped sellers get the most out of their vehicles. We know that the goal for any business is to make a profit. But that’s pretty hard to do if you can’t sell your product.
While making a sale at an auto auction isn’t a guarantee, it’s not impossible. In this article, we’ll cover 5 tips you can use to increase your vehicle’s chance of selling. With this information, you’ll be able to attend your next auto auction with the knowledge needed to maximize your vehicle’s worth.
Here are 5 tips you can use to potentially increase the chance of your vehicle selling.
Not all sellers are honest about their vehicle’s conditions. As much as you’d like to make a profit, being dishonest about any issues your vehicle may have could end up costing you a sale.
Hiding any issues, such as not mentioning your vehicle has broken headlights, is a situation that could ruin your chance of selling, and can also lead to an arbitration case. (Lying could also set your pants on fire, which would scare buyers away.) Just be honest and let buyers know if your vehicle has any problems.
We know you might want to save money by not paying to have your vehicles cleaned. However, a cleaner vehicle is much more likely to get you more bang for your buck.
Cleaning your vehicle beforehand, whether it be a simple wash or completely removing trash from the interior and vacuuming, shows that you care about it, and that will reflect to buyers. Investing in reconditioning your vehicle is a great way to help make your car look shiny and new. Past instances have proven that something as simple as a car wash can get you an extra $300 - $400.
Selling too high might push customers away, and selling too low could lead to a loss. But selling at market value will help build trust with your potential buyers.
Apps like Manheim Market Report (MMR) give you the current market value of vehicles and what vehicles are currently in demand. You can also ask an auto auction for a copy of a market report to see how the price of similar vehicles sold.
A condition report is a visual inspection of the interior and exterior of a vehicle. Getting a condition report protects you from missing any undisclosed visual issues with your vehicle, as well as letting potential buyers know the condition your vehicle is in. This can also help you with your online sales.
Condition reports grade vehicles on a scale of 0-5, similar to restaurant ratings. A restaurant is rated 5 stars when it has great food and atmosphere. However, a 0 star restaurant may have terrible food, rude employees, and rats in the kitchen.
The same applies to your vehicle. A condition report rating of 5 is good and a rating of 0 is bad. Making this information available for buyers to see shows the confidence you have in your vehicle.
Below is an example of a recent vehicle that had a condition report run. This vehicle's report score was a 1.3.
Supply and Demand of a certain vehicle type is important to keep in mind. Supply and Demand is the relationship between the price of a product, its availability and the buyers' demand for it. If the demand for a product is high, but the supply is low, the price will be higher.
Auto auctions also have a variety of customers with different interests, and not all buyers are interested in one specific model. A type of vehicle that might be in demand for one group of buyers could be totally different from what another group is looking for.
If your vehicle was featured in the “Fast and the Furious” movies, then these tips may not be useful to you. You’d be better off selling it to the Smithsonian Museum or some place in Hollywood. However, if you own a simple used vehicle and want to get the most money out of it, Big Valley Auto Auction can help you out. (Although it would be cool if you brought in a famous vehicle.)
As mentioned before, there’s no guarantee that these tips will help you make a sale. You have to consider the risks and rewards before making the decision to sell.
If you've decided that you'd like to sell your vehicle at Big Valley Auto Auction, click the button below to speak with our dealer registration specialist to get you registered.
Not ready to talk? That’s okay! First, learn more about what it’s like to buy and sell at Big Valley Auto Auction by clicking the image below: