If you’ve ever sold a car privately through platforms like Craigslist or Facebook Marketplace, you’re probably familiar with the challenges involved.
You may encounter numerous potential “buyers” who make ridiculously low offers; some might try to justify these lowball bids before ghosting you or wasting your time.
Others may schedule a meeting to inspect the car, possibly even test drive it, and just when you think they’re ready to make a deal, they offer you a price that’s lower than your listed asking price.
As mentioned earlier, selling a car to a private buyer can be tough, especially when dealing with lowball offers—but it doesn’t have to be. Here’s how to handle them effectively.
What is a lowball offer?
For those unfamiliar, a lowball offer is an offer that significantly undercuts the asking price you’ve set for your car.
For instance, if you list a car for sale at $6,000 and a prospective buyer offers you $3,000, that’s a lowball offer. This type of offer is common, even when you’re selling car parts or other goods.
Get offers for the car you’re selling first
Before you even post your car for sale online, it’s wise to secure offers so you have a clearer idea of its market value.
While looking up the car’s worth on websites like Kelley Blue Book can be helpful, keep in mind that these values are just guidelines. The goal is to obtain an actual offer you can rely on if your private sale attempts fall short.
Jalopnik suggests using e-retailers like Carvana, Carmax, and Vroom, which offer quick online appraisals.
These platforms provide free estimates in just a few minutes. Once you’ve received these offers, you’ll have a rough idea of what price range to expect.
For example, if the best offer you receive is $6,800, you’ll know that any potential buyer will need to beat that offer. Otherwise, you may as well sell to the e-retailer and avoid any complications.
Post the car on online classifieds with a disclaimer
After determining your desired selling price, it’s time to list your car on online classifieds. Facebook Marketplace, Craigslist, and eBay are great platforms for local sales.
When you post your car, consider including a screenshot of the highest offer you received from an e-retailer like Carmax.
This lets potential buyers know what you’re expecting for the car and helps set expectations. You can also include a disclaimer that you’re unwilling to go below the listed price.
Keep in mind that offers from e-retailers are usually valid for only seven days, so make sure to get those appraisals when you’re ready to sell quickly.
Sell your car to the highest bidder
Once you start receiving offers from genuine buyers, you can choose to sell to the highest bidder.
By showcasing the offers you’ve received from the e-retailers, you’ll likely filter out many lowball proposals with minimal effort. Selling a car privately can be frustrating, but with the right research, it doesn’t have to be.
