5 Things to do Before You Sell Your Beloved Used Car

Jan 12, 2021
 We all love our cars but at some point in life we have to sell our beloved car and the reason can be numerous. But one thing is common among all the car owners apart from the love attached to the car, and it’s the selling price you receive after selling the car. Everyone wants the best price for their car and this requires a certain amount of efforts to be put in by the seller.

Here are 5 things to do before you sell your beloved used car:

Go for proper market research

You need to know the exact condition of the car you are going to sell off. You need to keep the mileage, specific features, overall condition or any development/changes or issues etc. Also, you need to check out cars from the specific year, make and model put up for sale on different dealer websites. Online classified ad websites tend to list all the old cars up for sale, a perusal of which can assist you in determining the average price range for a car that is similar to yours. Sellers can determine the number of vehicles available for sale in their area. Older or unique vehicles tend to take longer to find buyers.

Try to get an assessment of your used car done

Prior to selling your old car, you need to find out whether it is actually ready for sale. You need to sell a used vehicle with old tires, prominent scratches or dents, broken headlights or taillights to private individuals might be a bit counterproductive. Buyers tend to avoid a car with other flaws. A smart piece of advice might be to find someone who can give a genuine opinion about the condition and salability of your vehicle.

When you have identified the issues, make sure that you spend some time and money fixing them to prepare your car for sale. Though changing the clutch plate, fixing power windows and repairing the dents may be a costly proposition. However, they can help you make sure a proper price for your used car.

Assess the price range

As per available data, people are opening up to purchasing and selling used cars big time. In order to close the deal quickly, you need to do some swift homework. You are required to find the best value for your car.

Also, you can find help online in this regard. You can expect to get a detailed inspection report prepared on the basis of the car’s condition, mileage, number of kilometers driven, age etc. As per report, the fair value of any used car by looking into all the user-given inputs.

Try to keep all your documents in order

If you wish to get the price determined, do not forget the documentation part. When it comes to a clean transaction, every document of your used car is necessary when it comes to proving that the inputs given by you are authentic. The mandatory documents tend to include insurance papers, Pollution Under Control certificate, the registration certificate of your and a no-objection certificate from your if you had taken a loan to purchase the car.

Another vital thing to keep in mind is a fully insured car with no depreciation has a higher resale value than the one with a basic insurance. It enhances your overall chances of getting shortlisted.

Try to create a striking ad and publish it

Once you are ready for the deal, you can market your prized possession that you are going to part with. You are needed to put up an ad on sites for which you have to ensure that it stands out amid the sea of sellers out to lure your potential buyer.

Make sure that you click proper and clear images of the car, inside out. This is required if you wish to be posted along with a top headline. The photos needs to be accompanied with a proper description of your vehicle. The description should be complete with useful specifics and a proper summary.

Consider transferring the no claim bonus. In case you have been a diligent driver, you might have accumulated a No Claim Bonus (NCB) on your car insurance policy. This is the reward you get from the insurance company for not raising any set of claims.

In case you are selling your car, your insurance provider might have to be notified of the same. You can request for an NCB retention letter. This letter will preserve the bonus for up to two years. Within this period of time, the NCB needs to be attached to the insurance policy of another vehicle in your ownership. The current auto insurance policy of your car will not be transferred to the name of the new owner. Even if there is a transfer of insurance, the NCB will not be transferred.

Make sure that you get the car inspected. Prior to putting up the car for sale, make sure that you take it to an authorised service centre. Get it inspected by a professional mechanic. This way you will know about all the issues that need to be fixed. The inspection is likely to help you command a greater price for the car as prospective buyers will know that it has got a clean record of health.

Clean the car. You can do a good deal of cosmetic changes to the car. Consider replacing the floor mats. Spruce up the interiors. If required, you can get this done at an authorised service station. Providing the interiors a nice clean scent will make it highly appealing to the buyer.

Try to decide on the sales mode. In the current times, you can sell your car through several avenues. You need to first decide as to how you will be making the sale. This might be through a dealer, through a 3rd-party service, or to an independent buyer. You need to know that selling the vehicle through a dealer fetches you little amount of money. However, the effort needed is lesser as well. One other point to note is that pricing the car lower than the IDV will enable you to sell it faster. This is why you need to sort out your priorities prior to making a decision.

In case you are in possession of a vehicle, you will have the paperwork that you got at the time of purchase of the vehicle.

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