How Best to Sell a Car With Installments
- Shoppers often use online appraisal guides to determine a fair price for a vehicle before purchasing, such as Edmunds.com or the Kelley Blue Book website. Despite the extra installments on your car, these sites set the value for buyers and sellers alike. Appraise your vehicle's private sale value to determine a price without installments. Then, try to figure out a fair value with your installments included. You may want to check classified advertisements to find out how much specific aftermarket items are selling for. When advertising, ensure you list all aftermarket installments so buyers know why you're asking more for your vehicle than other sellers in the market.
- Rather than list your vehicle for sale in your newspaper or local classifieds, try to target a market of potential buyers who have similar interests as your own. Internet forums exist for various makes and models of cars. Vehicle forums often catch the attention of thousands of enthusiasts across the county and many of these websites offer a classified section. Review forums to better determine a fair asking price for your car; check the classified advertisements to find out if models like yours exist.
- If you can't find a buyer for your vehicle, consider selling it for its suggested retail price and selling your aftermarket items separately. You may also find that returning your vehicle to its stock state, otherwise considered unmodified, yields you a faster sale. Some buyers are cautious to purchase modified vehicles. Many installments are small enough to ship, so you can advertise nationally on a website like eBay Motors. Do not remove items from your vehicle that leave body or interior damage behind, such as visible screw holes, as doing so decreases the value of your car.
- Asking more for your vehicle than its market value causes lending issues, another reason you may not be successful when selling your vehicle with aftermarket parts and a higher price than average. While some aftermarket items may increase vehicle value, such as a sunroof, alloy wheels or leather seats, many do not. Items like engine, exhaust or computer modifications do not increase value. Unless you can find a buyer who wants to pay cash for your car, this is another issue you might encounter.