Things to Know While Selling a Used Car
Many of us plan to sell their used cars first and then use the profit made to plan for the next car purchase. Now while selling a used car, it must be kept in mind, that, vehicles come with safety regulations which must be validated before we can transfer the ownership and for the car to be licensed for use by the new owner. The seller can let the car buyer check for themselves but if one wants to get maximum profit by selling their old car, the following simple tips can help to sell off the used car smoothly and quickly.
1. Do solid homework - check the specific year, make and model of the car on various sites and classified ads to see how much those are selling for. Consider your car’s mileage, overall condition, model, special modifications made if any. Research will also show you how many cars like yours are up for sale in any location. If the price you quote is popular, you can expect your car to sell off quickly.
2. Make your car presentable – Whether you trade in your car or sell it in private, if you plan to make maximum profit, take time to religiously clean and mend your car. This way it will look attractive in photos. It makes a big difference when a prospective car buyer comes to look at the car and it looks sparkling and presentable.
3. Know your car’s service history – Knowing the mechanical history of your car helps to confidently handle questions that are likely to come up during the negotiation. Questions from potential buyers are inevitable, and being able to confidently tackle their enquiries will gain their trust and confidence
4. Make mechanical inspections - If your car is no more covered under a warranty program it is good to get it inspected by a mechanic to advise you of any issues that may be present or come into scene during the selling process.
5. Keep mandatory papers ready – Keeping the required documents ready also makes for a smooth selling experience
6. Asking price – It is always wise to fix an asking price in mind to allow scope for price negotiation. Also, keep in mind that the car buyer has to pay tax when they transfer ownership.
7. Advertise for sale – Nowadays, people advertise online for selling their cars, so it is recommended to include detail information about your car and post pictures of the interior, engine, boot and exterior. This will reduce the number of unqualified questions and help to sell off your car quickly and smoothly.
If you plan to trade in your car, that is likely to fetch less profit than by selling it privately. This is because the dealership needs to spend money for the car to service it and also allow room for their profit.