You may think that just because your car has a luxury brand attached, it will be all the easier to sell. While there is some truth in that – for instance, niche buyers on the hunt for an exotic vehicle to add to their collection – it can often be the opposite case. There are five big mistakes that every exotic vehicle owner should avoid if they want to secure the best deal for their car, and this guide explains all below.
Not Providing Enough Details
Anyone interested in buying your exotic vehicle will want to know its history. If you fail to provide enough details on the initial listing, then you will face a lack of interest. It is a smart move, therefore, to state the condition, age, history, and faults of a car when you come to sell it. Expect questions, and make sure you have the answers if you want to drum up genuine inquiries.
Falling for a Scammer
There is a big risk with exotic vehicle sales that the person replying to your ad is a scammer. These cars come with a higher price tag and therefore have a higher appeal to scam artists looking to make money illegally. Yet, although you are at risk, there are lots of ways to stay vigilant and verify genuine buyers too.
Putting Your Faith in the Wrong Dealership
One option to avoid scammers is to allow a dealership to buy your Lamborghini Gallardo outright and sell it on to a third party. However, if you are going to opt for this route, ensure that the place you do business with knows what they’re talking about and specializes in exotic cars. This is the best way to secure a reasonable sale price and make sure your car is going to be in good hands.
Not Researching the Average Selling Price
However you decide to proceed, it is always a smart idea to do some research before you make a commitment. Luxury vehicles vary in terms of price bracket and factors such as age depreciation, condition, and mileage all play a role. Go online and get a better sense of what similar vehicles to yours are being sold for and this will give you a great starting point for the negotiations to come.
Failing to Follow Up on the Documentation
Finally, make sure you have all the correct documentation for the sale. Things like service history, proof of ownership, and financial implications are all relevant and should be presented upfront. If you can’t find something, now is the time to tie up loose ends and get the admin side of selling your car completely sorted. If you don’t, there will be barriers that delay the exchange.
These five mistakes will only lead to poor sales and even a loss of money. Avoid them like the plague, and instead, make smart moves that ensure a viable transaction. Be wary of scammers, as exotic car owners are a key target for that kind of thing, and most of all, don’t agree to anything if it doesn’t feel right.