How to sell your car: 7-point guide
Selling a car is as tedious and complicated as buying one, maybe even more. You encounter a lot of problems and it can get frustrating after a point of time. There are so many ways to go about it that one can get confused. Should you give it to a dealer? Exchange it? Post an advertisement on the internet?
Fret not, here are a few tips that can help you convert your car to cash.
First and foremost, check the history of the car and collect all important documents related to the car. This will include the registration, pollution, insurance and other necessary documents. Check the history of the car, if it has any traffic violations, unpaid challan (penalty/ticket), loan, mortgages et cetera. Procure these documents and arrange them in a file where you can access it immedietly when needed. Also, get the car checked nd maintain a report of the current condition of the car so that when any potential buyer asks about the condition, you can show the report and you are prepared with an answer as well.
Set the price
Now, since the paper work is in place and ready. It is time to set the price, you would want your advertisement to stand out from the rest of the posts. The ideal way would be to understand the buyer's perspective. Take a look at other ads and oberve how they have priced their vehicles and post your selling price a little higher than the current market rate. This would give you some room for negotiation.
It is not about fixing each and every dent or scratch on the car but just giving it the basic treatment. Get the car washed and clean the insides, remove all the garbage and clutter from the cabin and if possible keep a car freshener inside. If a potential buyer comes and sits in the car, he or she should want to own it. It should not look new but it should not look like it has not been maintained.
Pictures and information
If you build confidence in the buyer, more than half of the job is done. Take good pictures of the car, parked in the garage and also somewhere parked outside. Move it around and take pictures, you can be creative but just don't miss out the car. The album should have, side view, front view, rear view, drivers cabin, back seats and the trunk space. Along with these pictures, you can include information like the year, make, model and mileage. You can also add information about additional features that you think are rare in the price range to make a better case.
Segregate the buyers
This is the most important part, a lot of people are going to call you and there are types of people. Callers who might be interested in buying the car from you and selling it right away for profit, callers who are just browsing in the sellers' market, callers who are not interested and a very low percentage of people who are actually interested in buying. First, maintain a separate account and phone number and secondly, you don't have to attend all the calls. Let them go to voice mail, review the calls later when you get the time. You will eventually sense when a guy is genuinely interested in buying your car. And, lower the price, the more calls you will receive.
You can arrange a meet at a nearby location that both the buyer and seller is comfortable with. You can also take a friend along, let the potential buyer test ride the car. But, do not let the buyer drive alone, tag along and only respond to questions. Do not seem eager to sell your car, rather just enjoy the drive. If the buyer insists on the car to be checked by a mechanic then demand that he or she will have to pay the mechanic. You may have to negotiate on the price according to the new list of problems that may surface, but only pay importance to major concerns.
Seal the deal
Once the test drive is over, the buyer will start negotiating the price. It would be better if the byer makes the opening offer, it gives you an advantage of making a counter offer and also it gives you an idea of how serious the buyers is about your car. Make sure that there are no misunderstandings during the entire conversation. Settle on a mutually beneficial deal and seal it with the exchange of appropriate documents and keys along with notifying the transport department of the state.
What next? Start looking for a new car!
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