Do you proudly own an exotic car that has been parked in your garage for too long? It could be time to think about selling it and purchasing something else. Perhaps you can sell a rare car that has appreciated over time—for example, who would have thought an initial flop like the Lexus LFA would be appreciated the way it has today, reaching nearly a million dollars? Or perhaps a European exotic like the Ferrari 458 Speciale. Well, you don’t just have to get a good deal on some extremely rare supercars; you can also get rid of a GT car like the BMW M8—a twin-turbo V8 monster.
With the right steps, you can procure a reasonable price and find a buyer who can care for your vehicle like you did. According to Statista, the luxury auto industry is supposed to grow by 2.63% in 2023 and 2027. So, there are buyers out there, and if you know how to sell your vehicle properly, you can get a good deal.
So, here are some tips for selling your old exotic car.
- Consider Cash Buyers
A cash buyer intends to pay in whole for the vehicle upfront using cash or a check.
Convenience is one of the main advantages of selling to a cash buyer. Of course, the buyer will need to have all the money to pay your price, which can simplify finishing the deal. This option is great if you need to sell your vehicle quickly or want a large sum of money.
Investigating and recognizing a reliable purchaser is vital if you’re considering offering your exotic vehicle to a cash buyer. You can also sell your exotic through a platform like Driverra.com, where you can sell your exotic to a cash buyer.
For example, if you need to sell a BMW M8, you can consider this platform that buys cars on cash and specializes in purchasing exotic vehicles, including BMWs. It can make you an instant online offer for your vehicle. They also offer the same efficient service when you sell your Porsche. They have a simple procedure that requires filling out a concise online form, and they will give you a reasonable and competitive offer for your BMW M8.
- Determine the Market Value
Consider comparing your vehicle’s prices in your city or country for sale. Cleaner, lower-mileage models typically have better value than high-mileage ones. To obtain a precise assessment, you can also speak with industry professionals or use online tools for valuation. A low price may result in lost revenues; however, setting an excessively high asking price will discourage potential buyers. Therefore, finding a balance and establishing a fair price based on your car’s market value is essential.
- Get Your Car Inspected
Potential buyers will likely want to inspect the car themselves, and any issues found during their inspection could lead to a lower offer or deter them from purchasing altogether. Inspecting your car beforehand can proactively address any issues and give buyers peace of mind that they’re purchasing a well-maintained vehicle. In addition, having an inspection report to share with potential buyers can help you negotiate a fair price and provide evidence of your car’s condition.
- Clean Your Car
A clean vehicle looks better and inspires trust in the vehicle’s general condition in prospective purchasers. Start by thoroughly washing your car and paying close attention to the wheels and undercarriage. After washing, preserve the paint with a suitable wax or sealer. Ensure to hoover and wipe down all interior surfaces, including the dashboard, seats, and carpets.
- Take Great Photos
Pictures should feature your vehicle’s best qualities. Guarantee your vehicle is spotless and well-lit to feature its attributes and shoot photos from several perspectives to highlight its distinctive appearance. Think about utilizing an expert camera or a phone with a decent camera to take sharp and clear pictures. Photo your vehicle’s interior, exterior (including the profile and a three-quarter angle), and engine.
- Write a Detailed Description
Include information about the vehicle’s previous owners, mishaps, and service history. Be honest about the vehicle’s state, including any dings, scratches, or other damages. Give details about the motor, gearbox, and mileage. Highlight any upgrades or modifications you’ve made to the vehicle, such as performance improvements, unique paint jobs, or aftermarket equipment—a straight pipe, perhaps.
- List Your Car Online
Online markets with a big audience actively looking to buy cars. You may reach prospective buyers worldwide by advertising your automobile on these platforms, which is crucial if you sell a rare or remarkable car. It’s critical to give potential purchasers thorough and accurate information so they can better understand if your vehicle is worth your asking price.
- Be Willing to Negotiate
Remember that negotiation is about finding a mutually beneficial solution, so be prepared to give a little to get what you want. It might mean lowering your asking price slightly or being more flexible regarding payment or other terms of the sale. The goal is to sell your old exotic car in a way that works for you and the buyer, so be open, communicative, patient, persistent, and willing to negotiate as needed.
- Be Responsive
You can demonstrate that you’re a serious and trustworthy seller by promptly responding to inquiries and being available for test drives. It can build trust with potential buyers and increase the likelihood of a successful sale. So, check your email or phone frequently and respond to inquiries quickly to keep potential buyers engaged and interested in your car.
Selling an old exotic car can be tough because there are only a few buyers out there, but you can find a good deal with the right approach and mindset. You can improve your chances of finding a buyer who will value your car and offer a fair price by following the tips above, such as conducting research, setting a reasonable price, and using a variety of sales channels. Remember to be patient and flexible throughout the process, as finding the right buyer may take time.