Setting a selling price is obviously very important. A price too high warrants no interest. A price to low loses you money. So a good place to start is Kelley’s Blue Book. Remember this is only a starting price and not an end all. You need to remember that supply and demand plays a big part in the price also. If there are few vehicles in your market with the options available on your vehicle, then you could get a premium price.

You need to research your local market. Search through local classified vehicle ads found on sites like Chicagolandauto.com. Chicagolandauto.com is a local classified used car website for the Chicago area. If you are in a different market, look for a local website with used car classified ads. Search these ads and look for a vehicle with the same (or close to) miles, options and even color.

Once you come up with a selling price, the next important item is your low price. What is the lowest price you would be willing to take for this vehicle? Again remember supply and demand. If you start getting a lot of calls, you shouldn’t have to negotiate to your lowest price. If your not receiving a lot of inquiries, you might have to lower you rock bottom price when someone does make an offer.