Friday, July 8, 2016
There is usually a lot of thought and research that goes into buying a new car. But what
happens when you reverse roles and you become the seller? We share a few expert tips for a smooth sale at a great price.
Let’s break down the otherwise complicated process of selling your car into stages for better understanding.
Having a good product for the sale
Just as you would check a potential new purchase to ensure it is in good condition and
attractive, expect the same for your old car too. No doubt a car that has been well
maintained, neat, clean and tidy is far more appealing to the prospective buyer.
Whether it is the exterior or the interiors, a spotless vehicle is more desirable than
one that is shabby in appearance. Where required, paint work or dents need to be
repaired before advertising the car. The upholstery should be tended to and the
dashboard given a shine.
Apart from the cosmetic treatment, the real test your car will be put to will be during
the test drive, it needs to Start, Steer and Stop. So make sure obvious mechanical,
electrical and electronic parts operate. The vehicle needs to go through a thorough
check, any parts to be replaced needs to be done, like globes and fuses.
If the tyres are worn and battery is low, get them replaced, even if exchanged for
second hand .This will make for lighter scrutiny by a potential buyer.
Having a product in good shape is well worth all the effort you put in. The extra
expenses you have to incur will, anyway, help in effecting a quicker sale and give the
buyer confidence , also giving you more bargaining power too.
Finally, the car’s papers are just as important as the car. Ensure you have all relevant documents ready and updated. Besides the service records, ownership proof,
roadworthy certificate and any Finance Company Pay out figure if required must be
Preparing for the sale
Now that you have done some groundwork, there is still some amount of preparation you need to do before putting it on the market.
For starters, you will need to establish an asking price , this can be tricky as the
tendency to overprice or under quote should be avoided. The true worth of your car
depends on two factors: 1) the average price at which the make and model sells for
needs to be ascertained, 2) the condition of the specific vehicle you have for sale.
You can refer to the prices for your make and model online or among dealers. Settle
for what you think will be the most appropriate in line with the market place.
Then there is the question of the platform you want to reach out to potential buyers
on. There are options like going to a dealer, publishing it in the classified sections in
newspapers or listing it online. Dealers have overheads and will give you less but
effect a sale faster. Newspaper classifieds are losing their share of the market to online
mediums. The online option can be cheaper and may produce more enquiries.
Lastly, how you present the ad is critical. It should be straight forward giving all information about the vehicle. Be honest without exaggeration about the car’s condition. Photos help increase interest in potential buyers.
Conducting the sale
Once the advertisement is placed, the inquires should start to come in. Watch out for those who come across as serious and committed and arrange for a meeting with them.
It is best to invite them over to your place, for safety reasons. Offer a test drive after verifying their credentials mainly their photo driving licence. You must accompany them on these drives. The buyer would need to also inspect the vehicle thoroughly. Remember to take their feedback and note their intent so that you can decide if other potential buyers need to be entertained.
Closing the sale
The last step of selling your car is arriving at an agreement. Unless you have chosen to list your car at a higher price to provide room for negotiation, Try to advertise your vehicle competitively and stick to a near offer. Any concerns raised by the buyer should be answered confidently.
Once an agreement is reached, a deposit should be collected, a receipt given for the deposit. till such time the outright sale proceeds are received and car is picked up.
Selling a car privately will gain you a slightly higher price than if you were to go through the trade. However many people don't want to go through the dramas of selling their vehicle privately.
At Cash For Cars Now, we understand how the motor industry works ,we have the knowledge and expertise to make sure your car selling experience goes smoothly without you having to sell to the private market yourself. All you need to do is contact us on 1300 78 12 78 or visit our website www.cashforcarsnow.com.au and we will do the rest , an obligation free quote, free mobile service within Sydney Metropolitan area, instant settlement, simply hassle free and immediately.