While states across the country issued stay-at-home orders to combat the spread of COVID-19, the used-car market shuddered as the flow of used vehicles to dealer lots was disrupted. Wholesale used-car values, or the prices paid by dealers, fell 11.3 percent from March To April, according to the Manheim Used Vehicle Value Index. Yet, after hitting a low in April, values have recovered 13.9 percent through mid-June, producing, in effect, the fabled V-shaped recovery. On top of that, according to research from J.D. Power, the value of used cars on the wholesale market has surpassed the analytics firm’s pre-pandemic forecast.
It is a sign of the changing and challenging used- vehicle landscape, as new-vehicle sales cool off and both new and lightly used vehicles become more expensive. Dealers having a more difficult time getting inventory from their wholesalers, they are turning to the public to source their used vehicles. Many dealers are hungry for inventory and are advertises that it will buy cars and trucks from consumers, even if they are not shopping for a replacement.
The used car market is HOT, HOT, HOT right now. Dealers are offering top dollar for your used vehicle, so here are some basic tips to sell your car.
Keep your car clean. This goes without saying, but we’re mentioning this not, because you don’t know to keep your car clean, but keep it extraordinarily clean. Don’t forget to wipe your interior down with disinfecting wipes and perhaps a splash of bleach on hard surfaces. For cloth seats and the carpet, a good vacuum of the areas will do, followed by a disinfectant aerosol spray of the area. For example, after you vacuum the mats of the car, let them catch some air and spray them with a disinfectant aerosol of your choice.
Be sure that your car is in good condition. Not only do you want to focus on the mechanical condition of your car, but cosmetic condition of your car is important too. This plays a big role in a buyer purchasing the car.
Get your car assessed. This may have to wait until the pandemic is over, because lots of businesses are closed. But if there is a mechanic in the family that can come to look at your car, allow him or her to do so. Sure, you may have to physically distance yourself from him or her, but get your car looked at. Even during this time, you want to make sure that you know what your car has and is.
Get those minor things fixed. During this time of the Coronavirus disease (COVID-19) pandemic, you can use it to fix up those minor imperfections on your car. For example, if there is some hood damage to your car, you can see if that mechanic friend or family member can fix it. They will certainly welcome the income during this time of uncertainty.
Decide on a price. Once you have things fixed to your satisfaction and the car is looking great, decide on a price for the car. You may want to be negotiable about the price.
Make sure that you have your car title. We are stressed enough. So, you want to be a seller who has it all together. Don’t forget to have your car title and all other paperwork that you need to sell your car.
Be sure you know how to do a title transfer in your state. Once you have the car title, be sure that you know how to transfer it to the new owner. You have to think like a car seller and believe that you will sell your car. The way to do this, is to prepare and have things in order, such as the title transfer.
Make no mistake about it. The Corona-virus Pandemic has affected just about all of our lives. From our daily habits seeing interruption, to having to change the way we do business, we are all working toward a new reality. When it comes to selling your car, you do have some things working for you. Visit CARite.com and see what we can offer you for your vehicle!
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