Selling your car can turn out to be a daunting task especially if it is a used one. And unless it is a very rare car, it doesn’t have to be as complex especially if you have a guide to selling your car. This calls for preparation and some advertising if you are looking to get value for your money. Before you sell, make sure you get adequate information on the market, and have the required paperwork.
Below are a few guidelines to follow:
Step 1: Before you advertise the car:
Before selling your car, there are a few things you need to keep in mind. The first step is to check how much your competitors are selling your type of vehicle. Secondly,to determine the state of your car. Have your car fixed for any minor faults, do some paintwork if required and have your car waxed and cleaned. This will not only boost its market value but will help in selling your car quickly.
Step 2: Get the facts:
Once your car is in a good condition, you can visit online classified sites like OneShift to check for potential buyers. In order to attract buyers, it is important to accurately describe your type of car as well as taking pictures. When placing an ad, it is necessary to include the type, year, make of the car, the Vin number, mileage and your current location. Not forgetting put in the asking price as well.
Step 3: Documentation:
Ensure you have all the documents and paperwork ready to avoid scrambling for them during the transaction. Some of the documents to have ready include:
Have a record of all the receipts and maintenance records not forgetting MOT certificates. If you do not have them, arrange with your mechanic and have them collected.
You will need to have a title so that at the time of sale, it is signed and handed over to the buyer.
Bill of Sale
This is a document that lists the terms and conditions in case of a disagreement.
Release of Liability
This document will help avoid any disputes that may arise incase of any damages incurred by the new owner.
If the car was under a warranty, it is important to have them ready and kept for the next owner.
Negotiating Sale Price:
Before you get any interested buyers, it is important to screen for honest candidates before making any appointments to avoid fraudsters. Once you have gotten a potential candidate, be firm in your asking price and do not be scared in making a few offers. When negotiating, ask for a starting price that is a bit higher than you’re what you are willing to settle on. If possible, arrange to have the buyer test the car by driving it around. Ensure the buyer has a driver’s license before taking the drive.
Finalizing the Sale:
Once the buyer is happy with the car’s condition, it is advisable to settle on a price before handing over any documents. You can choose to accept cash, settle for a banker’s check or better yet a bank transfer that can be transacted over the phone. Once that is done, you can now hand over the necessary documents, and do not forget strip off your vehicle’s insurance policies when handing over the car.