Sunday, 12 April 2015

How to sell a used car safely

Planning to sell the old car. Some useful advice to make the best deal.

Selling a used car is a not an easy task. So, before selling a car some homework is required and then he/she should enter the market for finding prospective buyers for their cars. Here are some steps that can help to sell their car.

Tips to be taken care off before selling

Make your car look great: We all know that First impression is last impression. Keeping this line in your mind bring your car in good form so that it gives a good value. Here are some steps to be kept in mind:
Take your car to a car wash.
Pay some amount to change the mats of the car.
Send your car to any trusted servicing center and tell them to give it full servicing and bring changes like torn upholstery, broken lights, blown fuses, etc., if needed. Take out all your belongings in car before sending it to car wash or servicing or on test drive.

Sell your car on your own: If you want that your car should pay you off some good amount then trust yourself for selling it. As agents charge high brokerage fees and dealers will offer you a low price. Use online, newspaper classified ads.

Maintain a service history of car: Try to maintain all the service details of your car in well and neatly organized file. As buyers are willing to pay a premium towards these well documented service histories, also include miscellany like valid battery warranty cards and PUC certificate etc.

Add photographs and detailed information: Adding recently taken photographs of your car and mentioning the details with its advantages upfront e.g. single owner, good mileage, original paint, high fuel efficiency, valid extended warranty cover, accident free, garaged parking etc. is a great thing to do. Prefer to give your cell number instead of giving home or office phone numbers.

Asking about the price: Always set realistic prices only (not too high and not too low) that a buyer will be ready to pay which can complete sale quickly. For this research is a helpful tool which can tell you the price of similar cars (in model, location, age, trim and mileage) available for sale. Leave a room for bargaining (looking from Indian perspective). Try using American style of mentioning the price like 5,49,000 instead of 5,50,000 which can give you better result.

Tips to be taken care off while having an interaction with the buyer

Be straight forward: While dealing with the prospective buyer try and be straight forward in your interactions. Remain to the point and don’t get overly aggressive or show your eagerness to sell.
Value your time: Do not waste your time. Stay focused on serious enquirers only.

Setting the place for meeting: Always prefer to meet the prospective buyer in your office or at some public place, as this is safer and better. Stay punctual and request the same from buyer.

Test drive: If the buyer wants to take a test ride of car then accompany them yourself or with a representative of yours (driver, friend, any relative).

Do not hurry for selling the car: Never hurry to sell your car or become pressurized while selling your car. Take your time for thinking.

Request by the buyer for an evaluation of car by the mechanic: If the buyer wants to have an evaluation of your car by mechanic then consider it as a reasonable request. Arrange some trusted mechanic at your place or either the garage should be nearby your home.

Tips to be taken care of while selling the car and after sale

Arrange all the necessary documents: All the RTO forms and delivery note that are signed by both the parties (buyer and seller) or all other necessary forms that are required to be kept with either buyer or seller after the sale. Offer to visit the RTO office together for completing the transfer.

Signing documents that are necessary:  Take some time before jumping to sign any document. Check all the language written in document and if necessary take help from a person having sound knowledge of law.

Informing RTO: Inform RTO from where the car was registered within 14 days of sale. Send all the necessary documents to RTO via registered post. Requesting the buyer to send you a copy of updated RC book (transferred to his/her name)
 
Discuss with buyer payment issue: Request the buyer to clear all payments to be made in your favor ASAP (If he/she needs time to arrange money then keep some reasonable deposit of 20,000 or 50,000 with you and tell them to pay the remaining amount within a time limit of 8-10 days. Mention your clarity on timeframe that if amount would not be paid within the decided time limit then it will be your belonging and you will search for other buyer.