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Selling a used car is an excellent way to make some money and free up space for the new vehicle you have been eyeing. However, it can be difficult to convince prospective buyers that the car is worth their money. But if you follow the correct procedure, you can make it happen.
When selling pre owned cars, it is good to start with an honest estimate of how much your vehicle is worth in its current condition. So, to ensure that you sell your car without any hitches, follow these 10 simple steps.
To put the best show in front of the potential buyers, give your car a cleanup:
-Get all the scratches and dents repaired
-Check the upholstery of the car and fix any wear and tear
-Take it for the wash to ensure no stains and dust
-Make sure its accessories are in good working condition
-Get its service done if it is due
Another primary step while selling second hand car is determining its current market value. You can use the car price calculator for free on different auto classified portals to evaluate the estimated market price of your utilized car.
-Enter the required car details, including brand, model, variant, year of registration, km driven, etc.
-Get the approximate value of your vehicle
-Remember estimated selling price of the car should not be too high or too low
The third step is a car photo shoot. Of course, you do not need a professional photographer to shoot; you can use your mobile camera. But certain things you need to take care of:
-Park the car either at the parking lot or clutter-free area
-Take 20 good photographs of the car from different angles
– If there is an exciting feature or accessory in the car, capture it
-Make sure that the pictures are clear
Next comes the advertisement. An appealing ad is always helpful to attract massive buyers. Check below how to create an advertisement to sell your car:
-Use the best photographs that show the interior and exterior of the car
– Mentioned the details, including a year of buying and registration, km driven, additional accessories, best features, etc.
-Quote the expected selling price of the car
-Mention your contact details with mobile number and email id
Once you have the ad handy, you must post it on various mediums to reach prospective buyers. See the right way to post the ad:
-Do thorough research to find out the best online/offline platforms for posting the ad
-Choose auto classifieds or social media platforms to sell used car online
-Opting for traditional ways such as contacting local dealers, notice boards, or the local newspaper to sell second hand car is also not a bad idea.
Soon after your car advertisement goes on air, prospective buyers will try to reach you. Therefore, your communication with the potential buyers plays a vital role in making or breaking the deal. Things you should do:
-Set a list of some basic questions for buyers and proceed with ones who meet your expectations.
After screening, send the scanned copies of the related documents to the potential buyer to save time and effort.
-Fix an appointment for physical inspection only once you are convinced with the buyer’s offer.
Once you start interacting with the prospective clients, the next thing they can ask for is a test drive. In order to make a test drive successful:
– Answer the buyer’s questions politely even if you are overwhelmed
-Be prepared with answers about the car’s performance, mileage, the reason for selling, safety features, past history, accidents, etc.
-Accompany the prospective buyers during the test drive to clear their doubts.
Once you have finalized the next owner of your car, settle on the amount after considering your profit margins. Further, setting an upfront payment guarantee is essential when negotiating the price with a buyer. To close the deal, consider these points:
-Possible payment options include either immediate payment or a deposit before you sell your car
-Lock the time frame by which you will receive the whole amount
-Decide over the payment mode, whether cheque/bank transfer/cash
-Inability to pay within the stipulated time would lead to forfeiting the deposit and allowing you to offer the car to a new buyer.
You will need documents for selling pre owned car online, collate these below-listed documents and handover them to the new buyer:
However, please note that if there is an outstanding loan on the car, you have to foreclose it to get the NOC and remove Hypothecation from the RC before handing it over to the buyer.
Check out: How to Transfer Insurance of a Used Car
So, once you close the deal, below are a few more tasks that you need to do as a seller:
-Inform the RTO about the ownership transfer
-Submit the required documents, and collect the receipt for the same
-Notify the vehicle insurance company if the transfer of car insurance is part of the contract
-Ask for the updated Registration Certificate from the buyer later on
-List of the documents you need to keep with you:
The sale of used cars has been a booming business for many years now. This industry has not only retained its mystique, but it’s also grown to new heights in recent years. So, to maximize your profit potential and contend in this highly competitive market, you should know how to sell a car in the easiest way possible. Go through the steps mentioned above to quickly make good money out of your old vehicle.