Whether you need extra cash or you want to buy a new vehicle, there are various things to note when selling a car. Aside from ensuring your car is in tiptop condition and having your paperwork ready, you’ll need to determine the best possible way to sell it.
Although selling to a dealership is more convenient, it may not give you the best price for your car. If you want to get more cash, you need to find an independent buyer to purchase your vehicle.
Regardless of your preferences when selling a car, make sure to take note of the following things:
- Determine How To Sell
First and foremost, know who your purchasers are. Do you want to sell to a third-party service, dealer, or private-party buyer? As mentioned above, the easiest way to sell a car is through a dealer. However, you’ll get less money from this option. So, to get a bigger payment, you might want to sell the car online or via classifieds, which requires more effort.
Another way to sell a car is through an instant cash offer. With this method, you have to give your car’s details, and buyers will provide estimates for what they’re willing to pay based on that. It’s also a hassle-free way of selling your car.
If you don’t like to interact with buyers or dealers, you can consider third-party services. Such businesses make the selling process easier and take a cut of proceeds as their fee.
- Get Your Car Insurance Right
Car insurance is a must-have for drivers. Often, your car insurance policy comes with a no claims bonus (NCB). The credit goes to you for handling your vehicle well. If you’re selling your car, make sure to inform your insurance provider.
If you want to retain NCB for two years, it’s possible to ask for an NCB preserve letter from your car insurance provider. Then, transfer the NCB to your new car. Depending on your preferences, your car insurance won’t be transferred to the new owner of your vehicle unless you wish to do so.
- Know The Value
When selling a car, another thing to consider is its value. As the owner, you should identify its real value. To do that, you can consult a car trader or do your own research. Take note that the market works differently for various cars.
For example, vintage cars are priced differently from luxury vehicles or economy cars. So, having information regarding the market trends may also help you know the best possible deal for your cart.
- Clear Out Your Personal Information
If you have an older model, getting rid of personal information often involves emptying the glove compartment. For newer cars, you need to take more steps.
Other than removing the documents from your vehicle, you have to clear out your electronic footprint. It means you need to delete your personal information from the car’s navigation system and cancel subscriptions. Most navigation systems have a command to remove all your personal information and previous destinations.
- Prepare The Documents
Having the necessary documents in place is an essential aspect of selling a car as it proves that the seller has cleared the liabilities before selling the car. Other crucial documents to prepare are the tax details from the Regional Transport Office (RTO), emission or pollution certificate, service history documents, registration certification, and more.
- Get Your Car Ready
More often than not, most prospective buyers are interested in taking a test drive before making their final decision. For this reason, you should get your car ready by ensuring that there are no minor or small faults in your car. It’s because any type of cosmetic or mechanical abnormality may dissuade your potential buyer from purchasing your car.
To present your car in its best state, take it to the nearest auto shop and get it examined or inspected to check defects. If needed, you may need to make some cosmetic changes to give your car an appealing and fresh look.
It’s also essential to top up your car’s engine with lubricants, oils, and coolant other than balancing or aligning the tires. Servicing your vehicle before selling might mean an extra expense, but it can make a difference to your credibility as a seller. You may also ask for service reports from your dealership as some buyers prefer cars with good maintenance history. Plus, other buyers are willing to spend extra on vehicles that are timely upkeep.
Selling a car may vary from one person to another. Regardless of the reasons you have in mind, as long as you’re determined to sell your vehicle, you should be ready for the selling process to get the best results. In this way, you won’t only experience convenience, but you’ll also be able to attract trustworthy and rightful buyers.