Transactions
At this point you have an idea of what your vehicle is worth, and you know what you're willing to accept. Be ready and prepared for any responses when a buyer begins to negotiate. For example:
- If a buyer mentions a scratch or ding, say it's normal wear and tear and that it's accounted for in the depreciated market value.
- If a buyer makes an offer lower than your asking price, counter offer. Never seem too eager to lower your price. And don't budge beyond your minimum.
- If a buyer shows you a mechanic's receipt for repairs needed on your vehicle, take a look at the repairs. If they're warranted, consider reducing the price based on the amount needed for the repairs. If you advertised that your vehicle is being sold "as is," then simply refer to your ad.
- Once you settle on a price, accept only cash or a cashier's check before you sign over the title. And make sure the check has cleared at the issuing bank. Be suspicious of any buyer who offers a complicated payment arrangement that involves overpayment with a refund. This is often a sign of fraud.