Time to Sell Your Classic Car
There is a time and season for all things and the day you have dreaded for so long is finally here. You have to sell your Classic Car. We understand how hard this decision can be for you, so we want to help make the selling process as pain-free as possible. So dry your eyes, we have work to do.
The Sale is in the Details
Your first step is to prepare the car for sale. Detailing is a no brainer for a Classic Car owner. Make your car “show ready” for potential buyers by giving it a good cleaning inside and out. If your car is still in the “diamond in the rough” stage, avoid hiding any rust spots under a coat of paint and list your car “as is”. Typically, enthusiasts are looking for cars that need a little TLC. You’ll still need to clean it up to let the next owner see its potential.
(Photo courtesy of www.corbisimages.com)
Let Them Kick the Tires
Complete any necessary mechanical work that could prevent the car from being test driven. If you need to fix the brakes, now is a good time to get’er done. If doing the work isn’t something you want to tackle right now, make sure the buyer can have complete access to the car. They should be able to roll up under the car for a better look or sit behind the wheel to get a feel for it. In other words, let them kick the tires.
Get Your Papers in Order
If you’ve made a number of aftermarket modifications, have the originals parts available in case the buyer wants those instead of your changes. Gather all paperwork that goes with the car such as owner’s manuals, maintenance log, and receipts for modifications and repairs. This gives a person taking a look-see a better glimpse at the car’s history, not to mention insight into how much you really care for your car.
Can You Say Selfie?
Photos show your car’s best side. Ten to one you have tons of photos readily available. Choose the best ones that feature the car in a wide variety of angles. Take pictures of the engine, the interior and the inside of the trunk. If your Classic has any damage or abnormal wear, document this as well. Be upfront with would-be buyers and tell them about any flaws rather than trying to hide them. This goes a long way in showing you’re a seller they can trust.
Set Your Asking Price
Do your research and determine a fair asking price for your Classic Car. If you are still not sure about a price then consult a professional Classic Car broker. Realize that recouping the money you have put into your car’s aftermarket upgrades is likely not a priority. Once you have decided on a fair asking price, be sure to leave a little wiggle room for negotiations.
Get That Ad Out There
Now that you have your car ready, papers together, and photos assembled, set up a marketing plan. Certainly you can list your car ad with Autotrader, ClassicCars.com, Craigslist, Ebay, and Hemmings Classifieds; listing with car enthusiasts groups and clubs will get the word out there to a specific audience. You can also list with Classic Auto Insurance at ClassicIns.com. Many owners choose to list with a Classic Car Broker, who can sell their car for them. Another traditional option is to be a part of a larger car auction like Barrett-Jackson. Just know that their commission will cut into your profit margin.
State the Price to Potential Buyers
Include your fair asking price in all of your advertisements and marketing materials up front, to narrow inquiries down considerably. Besides listing all of your Classic Car’s wonderful features in your ad, include your contact info. Many a would-be seller has listed their car without a way for sellers to contact them. Avoid using phrases like “Best Offer”, “Negotiable” or “Firm”. Unless you are Tony Soprano, all sales are negotiable.
Be Prepared for Bargain Hunters
Once your Classic Car is listed make it a point to promptly answer inquiries, so no potential sale is left hanging. Chances are, you are going to receive offers below asking price. Face it, everyone wants a bargain. Politely respond that you can’t sell the car for that price. Who knows, the person may come back with an offer closer to your asking price.
Be Safe, Not Paranoid
Beware of scammers. Meet potential buyers in a public place rather than at your home. Having a buddy there with you may not be a bad idea. Test drives are part of the selling process so take steps to avoid theft. Before handing the keys to your Classic over for a “solo” test drive, ask for their car keys in return. Don’t let your paranoia get the best of you though, because the buyer may be a fellow Classic Car lover just like you.
Goodbyes Are Never Easy
The hardest part of selling your Classic Car (besides actually parting with it) is the waiting. Hopefully if you have priced your car right, the bids will roll in. Finding the right home for your four wheeled friend is often more important than getting the highest dollar amount. Saying goodbye is never easy but handing the keys over to another Classic car buff makes parting just a little more bearable.
Collector and Classic Car Insurance for Less
Classic Car collecting is a passion, which is why you need an insurance company that understands the love you have for your wheels. Let our friendly staff at Classic Auto Insurance help you find the right policy for your needs. Visit our website at www.classicins.com and see how we can help safeguard the dream cars you still own.