Selling Your Car? Avoid These Mistakes
If you are thinking about selling your car, you will no doubt want a quick sale at the highest possible price. If you are to achieve this, you need to approach the selling process carefully. In this post, we take a look at some of the most common mistakes people make when selling a vehicle, so that you can avoid them.
Accepting a cheque – You need to be careful regarding the payment methods you accept when selling your vehicle. Cheques are never a good idea for a number of different reasons. Not only could they be forged, but by the time you cash the cheque, the person may have already driven off with your vehicle, only for you to discover that the cheque has actually bounced. These situations can be very difficult and stressful, which is why they are best avoided.
Agreeing to a private instalment plan – This is another form of payment that you should never accept, even if the person in question agrees to pay you a larger amount overall. Chasing payments can be a nightmare, especially if the person starts to default. How can you be certain that they are going to pay you on time each and every month? Plus, if they are asking for such a payment plan, you have to question whether they can afford the car in the first place.
Selling your vehicle without washing it thoroughly – Nothing looks worse than a dirty car! Do you think buyers are going to be impressed if the bodywork is dirty and dusty? Plus, do they really want to see what you had for lunch in the glove compartment? Your car should sparkle inside and out. You may think that this is a waste of money because the car isn’t going to be your responsibility soon, but that could not be further from the truth. A professional clean will make your car more enticing all around, which can lead to a much quicker sale.
Not doing your homework – It can be very tempting to dive right in with little consideration. After all, you want a quick sale, and surely there’s not much to the whole process? Unfortunately, this attitude can land you in a lot of trouble. There are many factors you need to consider before you put your car on the market, including notification regarding a change of ownership, service history, outstanding finance, and current proof of ownership.
Failing to conduct due diligence when determining what online platforms to sell your vehicle on – You need to be cautious regarding the platforms you use to advertise and sell your vehicle. After all, you want to ensure that the website has a good reputation, and that they appeal to your target audience. Check out our post where we put online services to the test: bangastang.com. This will help you to determine the best platforms for marketing your vehicle over the Internet.
Being naïve fraud – A lot of people have the “it won’t happen to me” approach. But, unfortunately, fraud is rife at the moment, and it could very easily happen to you. There are a number of steps you can take to reduce the chances of you being the victim of fraud. This includes avoiding cheques, as mentioned early in the post, as well as monthly payments. In addition to this, you should also meet in a public location for test drives. Make sure you always ask for their driver’s license. If you are nervous or concerned for your safety, bring someone you know with you.
Not getting the paperwork together – Before you list your vehicle on any websites, it is imperative that you get all of the paperwork together. Make sure you know where everything is and that you have copies made. This includes the Release of Liability document, which will protect you from any violations or damages incurred by the new owner, as well as the Bill of Sale.
Getting the price wrong – This is one of the big ones! A lot of people make this mistake. They simply put any price on their vehicle – usually, the price they want to achieve. However, you need to consider pricing a lot more carefully than this. You need to be aware of the various factors that influence the price of a vehicle, including the age of it, the condition it is in, how many miles it has done, and whether you have made any adaptations to the vehicle. It is important to note that personalisation does not always go down well in terms of the car’s value. You may think that the changes you have made to the car have improved it, but in a lot of cases, these modifications can actually drive the price down. There are a number of steps you can take to get a good understanding regarding how much your car is worth and, therefore, how much you should advertise it for. This includes using the numerous free valuation tools that are available online today. You should also do your research to find out what similar cars are priced at. Make sure the cars you are looking at are the same make, model, year, and in a similar condition with similar mileage.
Overlooking the prospect of selling your car to a business – Selling your vehicle directly to another driver is not the only approach that is available to you if you want to maximise profit. There are plenty of other companies that will be happy to take your vehicle off your hands for a good price. If you have a luxury car, you should check out ibuylc.com for more information. Opting for a specialist company tends to be the best approach, as you can be sure they have the demand for your type of vehicle and that you will get a fair price.
Forgetting service records – This is another mistake that we see a lot of the time. It will increase the value of your car if you have kept up to date with scheduled maintenance. Don’t forget to show potential buyers the receipts of your service records. Nonetheless, please be careful when providing these records. Make sure you blackout any personal details in an attempt to reduce the chances of identity fraud.
A bad sales pitch – How do you expect to sell your vehicle for a good price if your sales pitch is awful? Sadly, a lot of people are missing out on a good chunk of money because they don’t know how to market their car effectively. Before you prepare your sales pitch, you need to do your research so that you know as much as possible about your vehicle, ensuring you are prepared for any questions that are thrown your way. You need to know about the vehicle’s safety features and reliability features, as well as the engine’s performance specifications. Aside from this, find out about the affordability of replacement parts, whether there have been any recalls associated with the car, the fuel economy, and the benefits that are associated with your specific car. Armed with this information, you will be able to put together a winning sales pitch.
Incomplete or unflattering photographs – As soon as you have cleaned your vehicle, you should take photographs of it. Remember, good photos are essential for attracting buyers. Make sure you take numerous shots from a variety of angles. There is nothing more frustrating than stumbling across an advert with only one photograph of the vehicle. It’s advisable to include photos of the car from all sides, as well as photos of the engine, wheels, trunk, and the interior of the back and front seats.
Selling a vehicle that is in poor condition – As mentioned earlier, you do need to make sure that you clean your vehicle before you sell it, but that is not all. You can also increase the value of your car by washing or replacing floor mats, and giving the exterior of your vehicle a new coat of wax.
Allowing the potential buyer to test drive the vehicle wherever they want – It can be tempting to let the potential buyer test drive the vehicle wherever they want because you want to please them. Nonetheless, this is not advised. It is better to stick to roads whereby traffic is minimal and the route is pretty straightforward. If you allow the driver to select the route to use, you are increasing the risk of an accident occurring. The last thing you want is an expensive repair bill to foot while you are trying to sell your vehicle.
Hopefully, you now have a better understanding regarding some of the most common mistakes people make when selling their car. If you can avoid the errors that have been mentioned above, you will be halfway there to a successful car sale.