Used Car Selling Tips on the Internet

The internet has become a great place to buy and sell new and used automobiles. In a matter of minutes, you can advertise your vehicle for sale by posting your ad on various paid and free classified ad systems. Compared to traditional newspaper advertising, selling your car on the Internet can be easy, fast and can save you money as well.

The following are a few simple tips for selling your car on the Internet:

Research your selling price

Part of a successful sale involves a reasonable price which buyers will be interested in submitting an offer on. If your sale price is too high, buyers may not be interested in contacting you at all. Initially start by researching your local newspaper for prices for your used vehicle, you may be surprised to find a wide range in price for the particular make and model of your vehicle.

Create an email selling account

At times you may receive junk emails, you may want to separate your sales inquiries from your personal or business email account. Visit Google Mail, Yahoo Mail or Hotmail for a free email account where you can receiving inquiries and emails about the items you are selling.

Photo ads sell

People online want to see what they are buying. People look for color, condition and any additional accessories that your vehicle may have. Although you may not need to post all your car or truck photos, take as many pictures of your car in case a buyer wants to see more photos of your sales item.

Mention that it is a private sale or for sale by owner in your ad

Some people like to deal with people direct and may be apprehensive if they know they will be dealing with a dealership. Not to say anything about automotive dealerships, but it is simply a matter of personal choice.

Selling a car privetly also ensures that you will get the best possible price and the buyer will get the best possible deal.

Get your car ready

Thoroughly clean your car or truck inside and out. Buyers love a clean vehicle and it makes a great impression. Consider spending some money on having it professionally detailed.

Provide lot’s of information in your ad

Buyers want to know everything about your car: when was it built, are you the original owner, how many miles or kilometers on the vehicle, has the engine been rebuilt and more. Listing lot’s of information in your ad shows that you pay attention to detail and that you have nothing to hide when selling your car.

If you have photos of the vehicle posted on a website somewhere, provide a link to that site. Indicate to the potential buyer how to contact you; by email or by phone. Optional is to list where the car is located so that people can come and view it at their leisure. Some auto sellers even indicate what their viewing times are: mornings, evenings, weekends.

Don’t be affraid to put “OBO” (or best offer) in your ad. This tells car buyers that you are willing to negotiate the price of the vehicle and that you are ready to sell your car.

Advertise your car on internet car classified systems

There are many paid and free car classified ad system on the Internet where you can post your used car ad to. Some will accept photos while others simply offer a text ad. Initially start out by searching for local ads within your city or state. National ad systems will provide you with a larger coverage, but may also charge your for your listing.

3 Tips For Used Car Buying

Used car buying can be a fun experience. After all, the vehicles tend to cost much less than new cars, and one can find a great deal on any model of car with a little work. However, it is quite easy for an inexperienced buyer to be taken advantage of. Here are three quick tips that can help even a first time car buyer make the right choices.

Do Your Research

Perhaps the most important part of used car buying is knowing what to look for in a vehicle. A good shopper will not only have some idea of what a vehicle should look like cosmetically, but also the realistic life span of the car. For example, a Mercury Cougar with ninety thousand miles will be at the end of its lifespan, while a Dodge truck might have quite a ways to go.

Make sure that you know something about what the common features are on a vehicle, its realistic lifespan, and what common signs of wear and tear are. Coupled with an informed knowledge of the realistic price of the car, this can help a savvy buyer get quite a good deal.

Check Out The History

One major problem that many buyers have with used vehicles is the simple fact that one often does not know what the car has gone through before purchase. Fortunately, there are a number of ways to find out the history of a vehicle before making a down payment. First and foremost, one should ask for some kind of car history report – the most common is from CarFax, but there are several other reports available.

If one cannot find this sort of third party history, one should ask the salesperson directly about the car’s history. If the answer is “it is in perfect condition” or something equally as unrealistic, the salesperson may be hiding a major defect. This is a prime situation in which one should go with their gut instinct over a sales pitch.

Don’t Be Afraid To Walk Away

New car buying is generally a very careful game of give and take, but used car buying tends to benefit from dramatic gestures. Used vehicles tend to have quite a bit more markup than a new car, and thus the dealer tends to have a good bit more discretion in setting a price. If the price you have found is significantly higher than the blue book value of the vehicle, it is time to walk away.

In fact, any price that sounds suspiciously high should be discounted immediately. Dealers make their living off of buying low and selling high, and they rightfully try to get the most money possible for any given used vehicle. As a consumer, your job is to find a price that will work for both you and the dealer. If you cannot come to an acceptable compromise, be willing to walk away.

First Time Car-Buying Tips

Buying your first car is an exciting step – but it can also be overwhelming and stressful and is never filled with as much uncertainty as it is the first time. If you take the time to do a little research before visiting the dealerships, your first car-buying experience can be a lot less stressful and a lot more fun! Being a good first-time buyer won’t be easy, but if it’s worth doing – and it is – it’s worth doing well. We’ve come up with some tips to help with the process.

Establish a realistic budget. This figure is generally based on what you can afford per month. Look at your cost of living – mortgage or rent payments, food, insurance, social activities. Once those are calculated, the remainder could be spent on a car payment, fuel, car insurance and maintenance.

Visit your credit union to get pre-approved for financing. Before you fall in love with a car you may not be able to afford, go to your local credit union. Their lenders can get you pre-approved for financing at a great rate that fits your lifestyle and budget. You’ll also know exactly how much you can spend, which will give you added negotiating power at the dealership.

Do your research. Informed shoppers are smart shoppers, so gather some information before you start shopping. Resources like Consumer Reports, Edmunds and Kelley Blue Book offer helpful vehicle reviews and pricing information that can help you determine a fair price for the car you want.

Take a test drive. Nothing is more important in your decision process than how you feel behind the wheel. Take at least half an hour on your test drive, while trying stop-and-go, freeway merging and freeway speeds. If the sales person does not have time then take the time to find another dealership.

Bring a wingman or woman to the dealership. It’s always best to work with a partner. They can help you decide what car to buy and what to pay.

Negotiate your price. Price negotiation is probably the most overwhelming part of the car-buying process, but it is important for you to stick to your strategy. If you’ve done your research, you’ll have a good idea whether the dealer’s offer is fair. Keep in mind that the dealer’s first price is rarely their best price, so don’t be afraid to reject the initial offer. If the dealer can’t meet your target price, walk away. Buying a car is a big step and the transaction has to be right for you.

Buyer beware. Before signing the final contract, ask the dealer to explain each item. Dealers have been known to include extra charges for items like “fabric protection,” “paint sealant” or “rust proofing” that may not be necessary. If there are charges you’re not comfortable with, don’t be afraid to point them out.

First-time buyers should also be wary of financing deals that sound too good to be true. Offers like “0% dealer financing” may sound good, but as a first-time buyer you may not qualify for these attractive specials.

Most importantly, enjoy the process. We know the tips referenced above can make buying a car seem daunting, but with low financing rates, and hundred of cars and trucks to choose from, your options are amazing (especially in the first-time buyer category). So take your time as you move through the process and you’ll be astounded with the outcome.

With a little advanced planning, a solid negotiating strategy and appropriate financing, buying your first car can be a fun and a stress-free experience!

Tips For First Time Car Buyers to Get Online Auto Loans

What Are First Time Buyer Auto Loan Programs?

Whether you are buying your first new or used car or are planning to apply for online auto loans for the first time, understanding how automobile dealerships and lenders see you, and what you can do to improve that image, can help you to be prepared in advance of applying for online auto loans for the first time, so that you will be in a better position to get approved for an car loan with a lower interest rate and better terms. After all, you want your monthly auto loan payment to be the lowest it can possibly be, right?

Who might apply for first time buyer car loans? Some people that first time auto loan programs can help could be:

* Teenagers, personally buying their first car in their own name will need to apply for first time buyer auto loans as they have no credit history behind them

* College students living away from home for the first time frequently have not had time to build a credit history before leaving for school and so will often need to apply for first time buyer car loan programs

* People that have always paid cash for a vehicles in the past, but now want to upgrade to a newer one or are forced to take out automobile loan because they do not have the cash funds to buy a vehicle at present

* Immigrants that have moved here from other countries, and thus have left their credit histories behind, may need to apply for first time auto loan programs in order to start building a credit history

Not All First Time Auto Loan Borrowers are in the Same Boat

The first thing to realize is that not all first time borrowers are in the same boat. There can be a lot of differing factors that can either work in your favor, or against you when you are applying for online auto financing. For instance:

* Are you employed full or part time? If you are not employed, do you have an income? Not being employed is not necessarily a game stopper, but if you plan to have your name on the title of the car and on the auto finance, you will need to demonstrate that you have either a job, regular income, or other funds that you will be paying your monthly auto loan payment from. Of course, the higher that your income is, the easier it will be to qualify for lower interest rate first time buyer auto loan programs.

* Do you have no credit history, because you are just starting out your financial life, or do you have a bad credit history/low credit score because you have had a few credit slip-ups in the past? Dealerships will certainly work with you in either case. However, if you have a low credit score, depending on how bad your credit history is, the dealership may be inclined to offer you a higher rate of interest and a lower credit limit on first time buyer auto loans as opposed to someone that has not made any credit mistakes in their financial life yet.

Note, see our recent article entitled “How to Get Approved for an Auto Loan with Bad Credit if you have Low Income” to learn how to get unwanted items removed from your credit report to bring up your credit score.

* Will you have any funds available to make a down payment on your auto loan? Whether you are applying for first time buyer auto loans, or if you have had auto loans in the past and just need another one now, what every auto dealership or lender is going to take into consideration when assessing your application and the items on this list is; how much of a risk are they taking in making an auto loan to you and what if anything can they get you to do to mitigate that risk. Making a down payment is one thing that you can do to mitigate the dealership’s risk, making them more likely to quickly approve your automobile loan and to give you a more reasonable interest rate. In addition, a down payment will obviously bring down what you owe on the vehicle and so your monthly payments will be lower and more affordable. Down payments are usually not required to get online auto loans, but they can be very helpful when negotiating with a dealership. Even a small down payment can make a difference in how the dealership sees you.

* Is there someone that you know that would be willing to cosign for you on your auto loan? Cosigners are not required in order to get online auto loans, even if you have bad credit or no credit history at all. However, the use of a cosigner can save you a lot of money and make the application process go much more quickly and smoothly. A cosigner is someone that puts their name on your loan application along with yours, guaranteeing that the loan will be repaid. The limit and maximum amount of your automotive loan will be determined by the cosigner’s income and credit standing, not yours. So, if you choose to have a cosigner, make sure to pick one that has a high credit score. With a cosigner, there is really no need to look for first time buyer auto loans because you will be treated by the dealership as though the higher credit score and income were yours.

* What is the ratio of your monthly housing payment as compared to your income? A little known fact is that auto dealerships and lenders pay attention to this number. For instance, if you make $1,000 per month income, and your monthly housing cost is $300, then your housing cost takes 30% of your income. Anything over 40% will send up a red flag to the dealership/lender and they may need convincing that you can make your monthly payments on time. Take this into consideration when you complete your auto finance application.

Taking the above items into consideration, you should be able to get a clearer picture of how automotive dealerships and automotive loan lenders see you, and what you can do to control that image, at least to some extent. Once you have submitted your application, the die has been cast and you will see what the dealership offers you at that point.