Like anything else, even the cars have expiry date. A car does not run on roads for several decades. At one point of time, it will not work well and you will decide to let it go. Selling your car may appear an easy task for you, but it needs more attention and time that what you have imagined. These days, when the competition in the automobile industry has increased many folds, car buyers have many options in their vicinity. You might face a stiff competition at the time of selling your car. Moreover, you might also come across various scammers who have no interest in buying your car. In the name of car buying, they might steal your money and valuable information. Below mentioned are a few key points, which you should keep in mind when you decide to sell your car:
Get your car ready for the sale
First, it is highly recommended to get in touch with a mechanic or take your car to the agency. The mechanic will assess it and let you know if any repair work is required. You may also get it washed, repainted and re-polished so that its lost shine comes back. By repairing it in this manner, you will increase the total value of your car. It is also a good idea to click the photos of your car from different angles so that you can send them to the potential buyer when the query arises.
Know the worth of your car
Before quoting any price to the buyer, it is suggested to perform a market research. You must get in touch with a few agencies as they can assess your car based on make, model and other factors such as condition of the car and its accessories. It has also been observed that some buyers may bring their mechanic with them. He will point out several issues in your car and quote much lower price than what you think. You should be proactive and research well about the car price from reliable sources.
Be cautious about test drive
Every buyer would like to take a test drive before saying ‘Yes’ or even ‘No’. When you are offering or allowing a test drive to the buyer, you have to be careful. This is because; he might harm your car and even steal it. It is highly recommended to take a friend with you when he drives the car. You should also take his driving license for the record. This way, you will be able to prevent from getting scammed.
One of the most important aspects of selling your car is the documents. It is suggested to get all your documents in place such as registration of car, insurance, invoice from the agencies, pollution certificate and any other papers related to car. Apart from that, you also need to check the documents the buyer such as license to know if he is a genuine buyer. It is also recommended that the seller ensure that the transfer of car occurs well on time. This is because if the car is involved in illegal activity, the seller is on the safe side. If you are selling your car, you should inform your auto car insurer about it. They can suggest you the best offers if you do so well on time. You will also win the trust of your insurer.
Finalizing the deal
When it comes to making a deal, you should sit and discuss with the buyer about transferring the papers, handling the car and payment terms. In order to make a great deal, both of you should agree on same things throughout the deal. It is highly recommended not to take payments through checks. This is because, the scammers can take away your car and you will be left with a bounced check. It will take forever to recover your car and file a complaint with a police station. It is suggested to take all money in cash or through a quick bank transfer. This way, you will enjoy a smooth car deal with your buyer. Even if you have to take a check in some unavoidable circumstances, you should call the bank and ask if the account holder has enough money in his account.
Don’t sign any documents before taking cash
If the buyer insists that he will pay in installment, you should ensure that not all the documents are signed. By signing all the documents can be misinterpreted that the car has completely been owned by the buyer. That’s why, you should not sign the documents unless the entire amount is paid off. The transfer paper should not be signed until you get all the money in your hand. If you have accepted DDs and checks, you should wait till the money is completely cleared. Moreover, the transfer paper has been signed; it means that you have relieved yourself and the car to the buyer and he will be able to use it without any obligation. The scammers may get away with your car without paying you any money. That’s why, it is strongly recommended to get your money before giving the buyer all the signed documents.
Write a letter to concerned department
Within a few weeks of selling your car, it is strongly recommended that you should write a letter to the concerned department about the deal between you and the buyer. This is a way to inform the legal authorities that you are no longer an owner of the car giving the details about the new buyer. This way, you will bring into their notice well on time. In case, the car is used for any illegal activities, you will not be held liable for it. The authorities are already aware of the deal and the new buyer of the vehicle.
By keeping in mind the above mentioned key points, you will be able to make the most of your car selling deal and stay a stress-free life.