Important Things You Need to Know While Selling Used Cars

Different Ways to Sell Your Car

There are multiple ways to sell your old car today. With the advancement in technology and the internet giving us everything at our fingertips, car selling is more seamless these days. Car owners trying to sell their cars themselves will eventually bag more money in their pockets than those who go to dealers with the same task. Therefore, we will look at tips that can help you sell your old car effortlessly yourself

One of the ways of selling your used car is by listing it on online portals that can fetch you, genuine buyers, in your city. Another method is the traditional printed advertisements that you can post. This can cost you some money. Another way is to find dealers who can associate you with buyers who are looking to buy used or pre-owned cars themselves. However, you will have to pay the middleman for making the process a lot easier for you.

Selling Your Car Privately Vs Dealers

Selling a car privately can be a daunting and tiresome task, but it will pay off handsomely in the long run when the deal is closed. By following a few simple tips and tricks, you can make the process a lot easier.

While posting your advertisement on online portals, you must be aware that there are chances of spammers and lowballers on free websites while there are chances of finding genuine buyers on explicit portals dealing with the car selling and buying business, like Gaadi Bazaar.

Whereas, if you are finding a dealer to close the sale for you by bringing you a buyer, you will have to cut your profit as commission. Apart from that, all the effort put in the process of closing the deal shan’t be from your end.

Documents to Gather While Selling Your Car

One of the key things you must keep in mind while planning to sell your car is to keep the paperwork handy. What are the documents you need to keep? Let us take a look.

• Car title/RC book
• Service records– A well-maintained car is always the first choice for any used car buyer. Servicing your car regularly and maintaining the condition and performance of your car is crucial. These records reassure the buyer that your car is in good condition. These documents can help you obtain or negotiate a higher price, whether selling it to an individual or a dealer.
• Original sales report– You may be aware of the basics of your car like its year, model, make, mileage, and so on. However, you will need to know your car’s trim level which may include optional high-selling features like leather seats, keyless entry, or head-up display.
• Vehicle history report– A vehicle history report shows whether your vehicle was involved in any road accidents which is something the new buyer must be aware of.

Preparing Your Car for Sale

Prepping your car before showing it to potential buyers is a must! An unkempt car is not the first choice if the buyer is buying for self-use. A cracked windshield, a broken door lock lever, and the clattering of a noisy exhaust pipe are a few things that might disappoint the buyer. Fixing such minute details in your car can make it look and feel newer than it is for the buyer.

If not fixing the issues is the best option, addressing it to the buyer and allowing them to make a choice of buying the car from you at a reduced price and fixing them themselves can also be an option. However, always be clear and truthful about the faults in your car when you are selling it to someone.

Another step to prepping your car for sale is to simply wash it and maintain it clean. A clean and good-looking car can attract any buyer.

Check the Interiors Before Selling

• Remove debris and personal items from the car
• Shampoo and clean the carpets
• Clear out the dashboard and clean the seats, mirrors, and insides of the car
• Address and eliminate any odour from your car – use a car freshener if needed

Check the Exteriors Before Selling

• Remove stickers and magnets if any
• Repair dents, scratches, and dings if any, or address them to the buyer
• Replace faulty headlights or taillights
• Fix windshield if needed
• Check the brakes and repair them if needed
• Inspect the tyres and check if it needs replacement or addresses it to the buyer

Fixing the Selling/Asking Price

One of the most crucial steps in selling a car is in fixing the selling price. You might think that your car is as good as new but the reality is something else. The value of a car drops as soon as it is driven out of the showroom first. Then the value drops after one year of using the car. Setting your asking price too high can result in you experiencing trouble in selling it.

Here are a few things you can keep in mind while estimating the asking price for your car.

• Get a mechanic to check your car– A mechanic can assess your car for any faults and that can help you fix the issues as well as an asking price.
• Use valuation tools online – Check for the right value for your used car online with the help of a few portals that can give you an idea. You will have to fill in a few details about the car and the site will prompt you an estimated value for your used car.
• Pursue local listings – Another way of determining an asking price for your pre-owned car is to check what other sellers in your area/city are asking for their used cars. You can enhance the value of the car by adding to the list of additional features like leather seats, alloy wheels, and an improved infotainment system.

When to Price Your Car Higher?

• Warranty– You can ask for a better selling price if your car is under warranty or an extended warranty provided it can be transferred.
• Regular maintenance – If you have maintained your car well with regular servicing and you have all the paperwork intact, you can ask for a higher value for your car.
• New tyres or brakes– If you have recently changed or replaced the tyres or the brakes of your car, you can list that as an additional service rendered towards the car and ask for a better price.

When to Price Your Car Lower?

If you are intending to a quick sale – Lowering the price of your car can get you to sell the car quickly.

• If you are intending to a quick sale– Lowering the price of your car can get you to sell the car quickly.
• Maintenance – If your car needs major maintenance or a tyre/brake change, the asking price significantly comes down.
• Accident(s) – If your car was involved in any major/minor accidents, the value of the car comes down.

Safe Transactions are Always the Best

Here are a few things to keep in mind while dealing with potential buyers for your car.

Meet the buyer in a public area where they can take the car for a test drive.

Take a friend or a mechanic along with you while meeting with the buyers.

Choose only legitimate modes of payment.

Never accept money orders, certified or personal checks from someone’s bank account as a mode of payment for your car. If you encounter a concern, you may not find out until your car is long gone with its new owner.

Wrapping Up

When the buyer you met loves your car and is sure to buy it from you, the smartest step next is to finalize how you are going to get the payment for the car. There are online modes of payment apart from the cash-in-hand option. NEFT transactions and online portals like Gpay can be safe as these payment options keep your bank information hidden and your personal information safe. Any of these methods will help protect a seller against fraud.

Still, be cautious about cashier’s checks or money orders, as mentioned above. They can be counterfeit as they are drawn directly from a bank and not someone’s account. It is always best to be cautious and take precautions. Meet the buyer at their bank and verify the funds in person during daytime banking hours in such cases.

Selling your car can take up some of your time and energy. However, you will be satisfied with the result of handing over your beloved car to its new owner end of the day. You can also be happy with the fact that you gained everything you were thinking of in terms of finding a genuine buyer to getting the desired value for your used car.