So, you have an old car at your home or a car you just don’t use anymore. Maybe, you want an upgrade or a downgrade. But you need to sell your vehicle to get money.
Many agents can help you sell your car, and they charge a lot of money. If you want to sell your vehicle privately without any hassle, then this article is just for you. We created some simple steps for you to follow so you can get hard cash for your vehicle without hiring an agent.
Have all of your Documents in Order
Whenever a used car is up for sale, many doubts and suspicions come to the buyer’s mind, “Is the car stolen,” or “Is it a damaged car.”
Basically, they have a fear of being scammed. For the buyer to trust you, you will need to have all of the vehicle’s documents present and in order. These are the documents you need
- Pink slip
The pink slip is a legal document that certifies that you are the legitimate owner of the vehicle and have the right to sell it.
- Bill of Sale
Before buying or selling a car, you should try to have a Bill of sale. The Bill of sale is required to record the transaction of money between you and the seller or buyer. You can get the Bill of Sale from your local department of motor vehicles.
It includes the date of the sale, followed by a brief description of the car. The model, warranties, signatures, and addresses of the buyer and seller are all listed on the Bill of sale.
- Liability Notice
This Notice is also available at your local department of motor vehicles, it is a notice which guarantees the transfer of the car from the seller to the buyer and is not the responsibility of the seller after the transaction of money.
Let’s say that the buyer gets into a car accident right after purchasing the car, the previous owner of the vehicle will have no responsibility in the matter.
- Vehicle history report
The history report of a vehicle includes all of the stats of the car. The number of previous owners, accidents, and the replacement of parts. This is a complete report of the vehicle and helps gain the trust of the buyer.
Setting the Right Price
You should always do your research before selling your vehicle, study your car, and acquire information about it. You should know your car’s model, year of manufacture, mileage, engine size and keep an eye on the condition of your vehicle.
There are also many sites and tools which will help you learn about your car. After that, you need to learn about the market value of your vehicle, how much it is going for in the market.
Just learn the price of your car and put it for sale with an amount slightly higher than that of the market. This will help you sell your vehicle for a reasonable price with plenty of room for negotiation.
Make your car look Appealing
If you want to sell your vehicle for the right price quickly, you will need to put a bit of work into the car. You will know your vehicle the best, so try to pick every flaw and fix it. Most importantly, you’ll need to clean your car and get rid of all the filth and dirt.
A new paint job will be the best option. Take your vehicle to a professional mechanic and if it has some internal problems, get them fixed. In the end, you want a clean and smooth car that offers an excellent drive.
Put yourself in the place of the buyer and try to think with the mind of the buyer so you can check everything and eliminate every single flaw.
Attractive cars with significant performance stand out the most, make your vehicle look so appealing that the buyer decides that he wants it just by laying eyes on the car.
Attractive Ads on Multiple sites
When selling a car, always try to post your ad on multiple websites. The most important thing to keep in mind is to post quality pictures.
Appealing photos will attract the audience and will attract buyers. Remember to post photos from different angles, post photos of the interior and the exterior so that the buyer can review your vehicle just by looking at the pictures.
Try to show the mileage of the car by posting a picture of the meter. Now, all you need is to publish the ad. There are many ways you can advertise your car
- For sale poster
- Word of mouth
- Autotrader Magazines
And many other social media sites can also act as a platform for your ad.
Only Talk to Potential Buyers
After you are done posting your ad, you will get a lot of phone calls and emails from many buyers related to your vehicle. Some of them will be low ballers, these people offer a meager amount for your car and have no interest in buying the vehicle.
They just try to negotiate for fun and never give a serious offer. You will recognize a potential buyer only by talking to them. So, try not to waste your time on these fake buyers and just ignore them. Only discuss further details with the person who you think could be a potential buyer.
The most significant step in selling your vehicle is the negotiation part. Try not to get overwhelmed while selling your car; just stick to your price and demand a slightly higher amount than what you want for the car.
For example, you want to sell your vehicle for $5600, then ask $6000 for it. The buyer will try to negotiate with you and will most probably set on a price you are comfortable with. Just try not to go lower than the amount you want for the car.
Stay strong and confident while bargaining with the buyer and don’t act desperate because if you do so, the buyer will overwhelm you quickly. If the buyer wants a test drive, you have to accompany him, as he is a complete stranger after all.
Finalizing the Deal
The negotiation is complete, and you and the buyer have settled on a price. Now, its time for the payment and the essential paperwork. The buyer can pay with cash or a cheque, these are the safest methods of payment.
Take the money and hand over the car to its new owner with the signed paperwork. Keep in mind that if your car has a loan on it, you will have to clear it before selling the vehicle. After you have handed over the car and signed the legal documents, you have officially sold your vehicle.
If your car has an insurance policy, call your agent and cancel it as you have to do with the vehicle now.
Now, you can also sell your car. Just follow these simple steps and empty your garage or make space for a new car.