What good is a value on my used vehicle if nobody will pay it?

WOODSTOCK, Ga. - Oct. 19, 2023 - PRLog -- Unless you live under a rock, you can't avoid hearing countless claims on every channel of conventional and digital media that your vehicle is worth the most money ever, right now! "Sell your car today and you can retire early" is what you hear on every news channel and blogger site on the net! "How to get the most for your used car" postings every day since COVID 19 hit the US. Fear, panic and consumer reaction created a hyper inflated market for used vehicles.

A look at wholesale vehicle valuations

People almost exclusively corollate a vehicle value with a "retail" valuation. The illustration above represents vehicles traded at auction at the wholesale level by dealers. As you can see, all segments are in decline except pickup trucks which are the most resilient as they are used for work. People can't stop working and the truck is just another tool that's needed for the job. When it breaks, it gets fixed or replaced!

There are a multitude of factors that will affect the ultimate transaction price of a vehicle including: Configuration, Color, Condition, Geography and Retail Demand (is it popular). Remember that this is the starting point for the valuation and factors like accident(s), maintenance, vehicle recalls, title brands, country of origin and mileage will have a significant impact on the vehicle valuation. What today's blog is more about…"how do I get paid?". Great question! The answer is simple, when somebody buys the vehicle and writes the check, sends the wire, transfers the cash or hands over the greenbacks!

Finding a buyer isn't easy.

So, what are you selling? How much is it? Where did you get the vehicle value from? Is there a lien on the vehicle? How do I find potential buyers, on a website? Which ones are the best? What about Facebook Marketplace? There is a lot to consider and a lot of work to be done if you want to sell the vehicle privately. The price point will really determine how difficult it will be to sell your vehicle privately, but before you embark on that journey let's take a look at why… Is it your goal to take on the assignment of cleaning the vehicle, talking images, listing it for sale, sifting through leads to weed out scams, meeting and negotiating with buyers on off hours? Probably not.

https://www.carbuyerusa.com/sell-your-car-blog/what-good-...