When your teenager turned 16, you likely bought them their first car. Some parents require their adolescents to save up for their vehicles. People eventually want to upgrade their cars no matter how they got them. You can teach your teenagers how to sell them for the highest possible price, which will become a beautiful learning opportunity for the real world. Allow your children to keep the money they receive from the sale, putting it towards the down payment or cost of the new car. Consider the guide below to learn more about teaching your teenager how to sell their first vehicle.
If your teenager decides to sell their vehicle, they may ask you, "what is my car worth?" They can use an excellent valuation tool to look up the value of their vehicle. Teach your teenagers how to find the VIN on their vehicles, which allows them to input the necessary information automatically. Ask them to be honest about the condition of the vehicle, including the interior and exterior builds. After you and your teenagers make these selections on these websites, you will see the numbers. Look for the price associated with the condition of your car. Determine if your teenager wants to sell it privately or at a dealership.
If your teenager decides to sell their vehicle privately, they will likely encounter scams. Your child will get a higher price when posting the car, but it takes more work. Teach your teenager to look out for emails or text messages that offer a price much higher than the asking price. These scammers will offer to send a check in the mail if your child delivers the vehicle. If your teenager falls for this trick, they will lose thousands of dollars.
Your teenager should be ready to negotiate at dealerships if they decide to go this route. Remember, your child will know the valuation of their car after doing their research. Encourage your teenager to go to the dealership only expressing interest in selling their vehicle. If they reference a trade-in or desire to purchase, they will receive a smaller payout. The salesperson wants to buy the car for the lowest possible price. Encourage your teenager to work just as hard as the associates at the dealership to get the best price.
You should teach your child to post their vehicle online if they decide to sell it privately. Tell them about the benefits of Facebook Marketplace or Craigslist, and let them decide which platform they want to use for the selling process. Encourage your teenager to hide extensive personal details to avoid potential scammers. Your child should also post detailed photos that show the interior and exterior of the car. They should also be as honest as possible in the posting to get the fairest possible price.
Finally, encourage your teenager to clean up both the interior and exterior of the vehicle. They will get a higher price from a buyer if the car looks attractive. You can help your teenager use touch-up paint to hide scratches on the body. Bring a vacuum into the cabin space to remove debris from the floor or the seating. Purchase seat covers if there are extensive stains, and use floor mats if the carpet is ragged. You and your teenager can also go to a professional detailer if you do not have the time.
This guide should help your child sell their first car. You can start by looking up the valuation of your vehicle. After, help your child determine if they want to sell the car privately or at a dealership. If they decide on the latter option, do not talk about a trade-in. If you choose to sell privately, do not fall for buyer scams. Encourage your teenager to keep the vehicle as clean as possible to get the highest possible price, no matter the selling method.