We look at some handy hints and tips for making a successful car sale. As it is very important to increase the price of the car as much as possible you have to make it presentable.
Before you put the car up for sale
Clean the car inside and out and ensure that it is generally tidy, make it look as good as you can and try to imagine what you would like a potential new car to look like. Rectify any minor damage to the paintwork and any simple mechanical faults. MOT the car, if you sell a car that is not roadworthy you may be breaking the law. A professional valet of the car can work wonders and make selling the car a lot easier. Little touches like new floor mats can also make all the difference.
Make sure that you price the car realistically, find an online car valuation guide and find out how much you should get for your vehicle. Don’t expect too much and be realistic with yourself about how much you are willing to take for the vehicle.
Describe the car accurately
Don’t make false claims about the vehicle and describe it accurately. Be honest when entering information into a car valuation guide as well. Remember to include the location of the car, how much MOT and tax is remaining and its year of registration.
You are not allowed to sell a car with any outstanding finance. You will need to settle any finance prior to selling or get written permission from the finance company.
Make sure that the condition of the car is fully explained and highlight any blemishes or faults. This saves a lot of hassle later on.
Dig out all the car’s documents before you put it on sale, you need the registration document, MOT certificate and service history. Never let a potential buyer make copies of documents.
The test drive
Make sure that the potential buyer is insured to drive the car; your insurance may be good enough. Always accompany the buyer on the test drive.
Room for negotiation
Build some leeway into the asking price, buyers will always try to knock a bit off the price so you need to start a little higher than the price you actually want.
Provide a receipt
Give your buyer a ‘sold as seen’ receipt which indemnifies you of any responsibility for future faults that may develop.
Get your money
Never let anyone drive the car away until you have been fully paid. Cash or online bank transfer are the best ways to get paid. If you take a cheque then be sure that it has properly cleared and cannot be cancelled by the buyer at a later date. Escrow, where a third-party handles the transfer of the money, can be a good idea but will incur a fee.
Selling a car can be a stressful business but you can make life a lot easier for yourself by following these few, simple steps. Remember that a car valuation guide is your friend and you will do yourself a huge favour by being as honest as possible in the description of your car.