Selling a car can be a long, complex, and demanding process. There are many factors at play, which can quickly turn into roadblocks unless you prepare for them in advance:
#1 Organize Your Documents
The last thing you need after finding a buyer is not to have your vehicle’s documents in order. Get your car’s papers organized before you advertise your car for sale.
Potential buyers will want to see the original sales deed, vehicle history report, and service records. Please also pay your vehicle’s taxes and renew your license plates before the sale.
#2 Complete Cosmetic Repairs
Completing cosmetic repairs can help you set a great first impression. The first thing a potential customer will do is inspect the car’s body. Fix up dents, cracks, and blemishes at a top car shop.
For the best results, visit a trustworthy local business. For example, Canadian drivers looking for auto body repair in Toronto should try AutoOne Service. Their highly qualified team can quickly and competently repair issues and add value to a vehicle before a sale.
#3 Complete Mechanical Repairs
You’ll receive many lowball offers if you sell a vehicle with mechanical issues in “as is” condition. That’s why it’s best to complete basic cosmetic and mechanical repairs before selling a vehicle.
Basic mechanical repairs include repairing the engine, brakes, exhaust system, wipers, and lights, so they’re in operational condition. However, you don’t have to overdo it. For example, you don’t need to purchase new tires if the tires are safe to use for another year or so.
#4 Pick the Right Market Rate
It’s essential to set the right price for your vehicle. If your price is too high, you’ll wait a long time to sell your vehicle. And if your price is too low, you’ll lose money. When pricing your car, ignore any sentimental attachment you have to your ride, or you’ll overestimate its value.
Check online marketplaces for sold prices of cars of the same makes and models with similar mileage to get a fair idea of your vehicle’s value. You can also take your car to a few dealerships to see how much they offer. Typically, you can add 10 to 20% to a dealership’s price for a private sale.
#5 Market Your Car
With the car ready for sale, you can start marketing iton the appropriate channels. Give the car a thorough cleaning and take high-quality photographs of the interior and exterior of the vehicle.
Capture some video footage, too, if you want to. List your car on high-traffic online marketplaces with all the pertinent details.
#6 Play It Safe
While selling your car privately can help you pocket more cash, there are risks involved, such as fraud and theft. Keep the following tips in mind to mitigate your risks:
- Meet in a secure location, like a police parking lot.
- Never meet a potential buyer alone.
- Check with your insurance before offering a test drive.
- Only accept secure payment options such as escrow or a certified cheque.
- Keep a record of the title transfer, bill of sale, and other essential paperwork.
- Please take your license plates with you.
After reaching an agreement with the buyer, wait until the payment clears before retitling the car and handing over the keys. Please also check local laws for any taxes and transfer fees you may owe.