If you’re wondering how to sell a classic car that needs work, then you’ve come to the right place.
Selling a classic car that isn’t exactly in top-notch condition isn’t a lost cause. As long as you take the time to prepare for the eventual transaction, you can — and likely will — sell your car at full value.
Let’s break down the 5 key elements you should take into consideration when selling your classic car.
Know your car inside and out — literally
If you’re selling a classic car that needs work, then you’ll most likely be talking with a lot of mechanically-inclined individuals who are looking to buy the car as a project.
Because of this, you need to make sure that you do your research and that you’re prepared to discuss the details of the car with any potential buyer. This includes everything from the make and model to the engine and transmission. If you aren’t fully prepared, you could look dumb and the buyer may become frustrated (or even try to take advantage of you).
Be up front with the problems
The more honest you are with the car and its condition, the more likely it is that you’ll get in front of a serious buyer.
This means that you should also know when it last worked (if it doesn’t currently work), and you should also be prepared to provide interested parties with an estimation of repair work needed. In the estimate, make sure to include rebuilding the interior, as well as repainting the car.
If you come to the table prepared with a full and accurate estimate, you can save everyone time and only speak to serious buyers.
Figure out the value of the car
Once you get an estimate of what repairs are needed, then it’s time to figure out how much you want to sell your car for.
If you have put any work into the vehicle, then do the math and determine how much this work is valued at. You’ll also want to do your due diligence and find out how much similar cars are priced at, as well as the current supply and demand.
To do this, you can check out sites like Bring A Trailer, eBay, Craigslist, and Facebook Marketplace. These sites can provide you with a more accurate overview of valuation. We recommend saving any recent listings that can work in your favor. This way, you’ll be able to prove the value to a potential buyer.
Need help estimating the value of your car? Reach out to the Do U Have team. We can give you a free estimation.
Know your lowest amount
Speaking of selling price, you’ll also want to know how low you’re willing to sell the car for. This is incredibly important to know before you get into a situation with a potential buyer.
If you haven’t done the math and identified your absolute lowest price, you could end up settling at too low of a selling point — and then end up paying for it later.
Find the right platform
After all is said and done — you know the value, the car, the repairs, and your absolute lowest price — it’s time to figure out where you want to sell your classic car.
There are a ton of platforms that allow you to sell a classic car — but they all have their pros and cons. You’ll want to determine if you need to sell it locally or if you’re able to reach out nationally, and you’ll also want to determine if paying a commission or percentage of the total selling price is doable for you. One tip is that you set a price, add a few thousand, and hold for about 2 weeks. If you havent had one person reach out, you can adjust from there but sometimes there is a unique buyer that will pay over your listing price, you just have to wait it out if you want the most bang for your buck!
You can also look into sites like Do U Have that allow people to post for what they’re looking for — including classic cars. This means, you can search to identify a potential buyer and then message them directly.
Interested in seeing if others are looking for your classic car?
If so, we’ve got you covered! At Do U Have, we’re a platform for buyers and sellers looking for collectibles, classic cars, and vintage items. Hop onto our site and start a search to see if anyone in your area (or even nationally) is interested in buying your classic car.