Thinking about selling your car but online ads are too difficult to navigate?
Selling a car is more complicated than it looks: finding the perfect buyer, selling fast, finding someone reliable, then gathering all the paperwork and receiving payment.
Before getting started, read on and learn about the 5 most common mistakes people make when selling their cars and how to avoid them.
1. Messy Car
The problem: The vehicle is messy, dirty, or poorly maintained.
Quick fix: Try cleaning the interior of your car, fix minor damage, and make your vehicle as attractive as possible. The exterior is also important; a quick trip to the car wash is enough to improve the appearance of your car.
Before you sell your old vehicle, you will need to post an ad somewhere or sell it online. Your car should look good and you need to take some good shots. Poor maintenance can decrease the value of your car.
2. Incorrect Valuation of Your Vehicle
The problem: Improper research leading to an inaccurate prediction of the value of your car, either too high or too low.
Quick fix: Using an online valuation tool can help.
Determining the value of your car can be a complicated process. A high price will only attract a few potential buyers, while a low price will attract a horde of buyers interested in bargains.
Before determining a price, you need to take into account:
- Your mileage.
- The demand on the model.
- If the maintenance has been up to date.
- Sometimes, even the color of your vehicle.
If you don’t know what price to set, compare similar listings on the net or get a valuation, either online or through an auto expert.
3. Noninformative Ad
The problem: The advertisement for your car is too short or incomplete.
- Take pictures of the front, rear, interior, and engine.
- Specify all the necessary and useful information for potential buyers, such as the history of the vehicle, made replacements, and milage.
- Mention the discounted price
The purpose of ads is to show the vehicle as well as all necessary information.
If you show few photos or if the ad is incomplete, the potential buyer may not get a good overview of the condition of the vehicle and therefore, not resume their purchase.
4. Incomplete Documentation
The problem: you did not have the documents gathered fully, or on time.
Quick solution: prepare all the important documents regarding the sale beforehand.
Thanks to the internet, posting an ad now is quick and easy, and so must be selling your car.
Before the vehicle changes ownership, all documents must be ready.
If looking for a quick and smooth transaction, potential buyers don’t want to wait and may lose confidence thinking that you, the seller, are unreliable. Negligence is a mistake that turns most buyers away.
5. Inattention to Fraud Risks
- Not being careful while drive testing.
- Accepting cheques, cash, or third-party payment.
- Signing documents too early or too late.
- Stay in the vehicle during drive-testing.
- Once you and the buyer sign all the documents and complete the sale, only accept bank transfers.
Before the potential buyer shows up to sign the deal, ask them to bring in all necessary documents such as driver’s license, identity card, bank details and check again with everyone regarding the final price that you agreed on.
Once the buyer is there and it’s time to test your car, never leave it alone with someone else in it.
Another no-no is accepting checks (which may be bounced), receiving payments from third parties (a buyer can pay instead of someone in financial difficulty), and paying in cash (counterfeit money)
Selling a car on your own is a real challenge and a huge reason why many owners get ripped off. Of course, calling a professional for help will make things a lot easier for you, especially if you lack experience in car salesmanship.
I mean, if you take your precautions, there is no wrong in giving it a try. Who knows, you may turn out to have the natural traits of a salesman and not know about it!
Life is an open road, jump in and enjoy the ride.