Selling a used car can be quite cumbersome. There is a lot to do, and to not do, so as to avoid running into any unwanted trouble or hold-up while you try to get rid of your used car. This is especially true for private buyers. You will have to do few things to put modalities in place for a smooth sell your car. Below are some tips to make certain of that.
1. Get Your Car and Materials Ready
Before you even think of putting your car up for sale, it is necessary to make certain that your car is ready to be sold. Below are some of the important steps to get your car ready for sale.
- Give it a nice, clean look: It is certain that you don’t want the buyer to see your car in its worst state. It is therefore important to get your car to the car wash to give it a thorough cleanup and vacuum cleaner.
- Get your paper works sorted: Some documents are required for the sale of a used car. Including the title which gives you the rights to sell the car and a bill of sale. Get them all ready before you proceed to meet with potential buyers.
- Take Some Pictures: You would want your buyers to see the beauty of your car so as to give them a good glimpse of what they are getting. Snap some cool pictures from different angles to get a good shot that should be cool enough to make your car stand out from others.
- Find the Car’s Value: It will do you a world of good to be certain of your car’s valuation before you set out to put it up for sale. This will enable you to set a price and negotiate properly while dealing with a buyer. You can check your car’s valuation on Edmunds or Bluebook value.
- Make a good ad: Create a good ad that should properly describe every detail about the car you’re selling. It is important to be very clear, and honest about the details so the buyers are certain of what they’ll be getting.
2. Meeting Up With a Prospective Buyer
After you may have prepared your car and all the necessary documents required for its sale, the next move is to wait for potentials buyers to indicate their intention to buy. Chances are that you will be receiving quite a few offers, and so it is paramount to make sure you’re not at any risk when meeting with a prospective buyer. Below are a few precautions to take while meeting a prospective buyer.
- Don’t go alone: It is generally sensible to go along with a friend while meeting a prospective buyer. You do not know who you’ll be meeting up with. Remember that two good heads are better than one. So, you should be looking to bringing someone along with you to the meeting point.
- Set the meeting in your terrain: Obviously for security reasons, it is good to get the meeting point somewhere close to your home. This will no doubt please the buyer too, as he is reassured you’re not going to sell him a piece of crap just to run off.
- Join in the car for a test drive: You don’t want to have to see a buyer taking your car for a test drive, and never bringing it back, right? Then insist on being inside the car while he tests it.
- He’s liable: So what if the prospective buyer crashes your car while taking it for a test drive? You should do well to Inform him beforehand that he is liable for whatever damage that may arise when he is test driving the car.
- Hold your keys: After every test drive, do not forget to always hold onto your car keys. It’s yours until the buyer agrees to buy, and then pay for it.
- Be a good negotiator: Everyone loves a good bargain so be prepared for a tough negotiation when you meet with a buyer. They will try to get the best possible deal and that’s normal. You should be certain about the least amount you’d want for your car so as to avoid getting a bad deal.
3. Closing The Deal
When you have found a satisfied buyer, who is serious about getting the car and what’s left is to get the deal over the line. Here’s what to do next.
- Hold onto your paperwork: Unless you have your money in your hands, do not hand over the car’s paperwork. This is a precaution to be on the safe side. When the transaction is completed and you have your money, then and only then should you hand over the paperwork to the buyer.
- Be sure to know who the buyer is: You never know when you’ll have to defend yourself before the authorities because of a car you sold. Make sure you get the personal details of a buyer, and possibly a proof of identity. There is also the option of a seller’s contract should the buyer be unwilling to provide any of the former means of identification.
- Don’t be quick to hand over the keys: Make sure you have your money in your account before you hand over the keys and the car to the buyer. There are plenty of scammers out there and you most definitely do not want to be a victim so do not give the buyer the car until you’re certain that you have been paid. If the buyer pays you the money in cash, be sure to properly count, and be certain you’re being paid in the correct amount. If you don’t want to go through all that stress, make the buyer go through the bank to deposit the money in your account.
- Finalize the sale: Notify the DVLA of the sale of your car, cancel the car’s insurance policy too. Make receipts, preferably two, showing the car’s price, details, date of purchase and get it signed by you and the buyer.
As you can see, it takes quite the effort to get your car sold, but with the above tips, you should be able to get it done without much hassle.