Purchasing a high-end vehicle such as a Bentley is an investment. Beyond the pleasure of driving the car, an owner expects to sell it for a fair market price. If you received a lowball offer on your luxury car, don’t get offended. Take five smart steps instead.
Recognize a Lowball Offer
The first step is to recognize a lowball offer easily. When a potential buyer offers far less than the car is worth, counter the offer with facts. If the buyer gets emotional and refuses to negotiate, it’s time to recognize a potential tire kicker and move on to the next interested party. We Buy Exotics has it down to make legitimate offers sellers want to accept. While the Kelley Blue Book is a great place to start, estimating the value of a limited edition car is more complicated. Factors such as availability, demand, and customized features all play roles in the sales price of a Bentley. An educated seller should do research to substantiate his or her position.
Be Prepared to Negotiate
Often sellers ask for a price slightly above what they are willing to accept for the car. Doing this leaves room for the inevitable negotiation process. Be prepared to negotiate, as few buyers will agree to pay the asking price. Create a sense of urgency about the sale by telling the buyer other people are looking to purchase the vehicle. Don’t panic about counteroffers, as this is part of selling a car. Remain objective, and realize a serious buyer wants the car, not an endless negotiating session.
Have the Paperwork Accessible
Keep in mind the limited supply and demand for a car such as a Bentley. Have all necessary paperwork readily accessible during negotiations. Buyers try to get a better price by verifying the title is clear and the vehicle is ready to put on the road. Prove it by presenting the title, having the car inspected, and maintaining transparent maintenance records to show the vehicle was cared for properly. From warranties to authenticity certificates, show all the extra benefits that come with purchasing the car to prove it is worth the asking price.
Ask for the Reasons
If a qualified buyer continues to make lowball offers, be frank and ask why they feel the vehicle is worth less than the asking price. There are three typical reasons why someone makes a lowball offer. Some customers want the car but cannot afford it. Others feel the car does not entirely meet their criteria, such as the color or model. And some buyers get the wrong perception of the value of the vehicle. With the latter, there is room to negotiate more effectively by outlining why the car is worth the price. Be aware of how hagglers operate to counter their statements.
Work With a Professional
Selling an expensive car means there are limited buyers in this niche market. Often it is challenging to find these possible buyers and negotiate a fair price with them. Most dealers give you a lowball offer to ensure they make a profit in the future. Trying to sell the car online can attract the wrong prospects and, ultimately, not result in a sale. It can also be dangerous to meet a stranger when you’re selling an expensive car such as a Bentley. Turn to an exotic car specialist to get a cash offer that aligns with your asking price.
Keep safety and value in mind when you decide to sell your Bentley or another luxury vehicle. Be ready for lowball offers and know how to counter them. And, feel reassured knowing there are reputable cash buyers will are willing to pay what the car is worth.