7 Things To Do Before You Sell Your Car

Selling your car is never an easy task. It is not just an empty vehicle, just like your home is not an empty space. Just like your home, your car takes your personal memories with you. After selling it, you’ll be sure to get nostalgia. But apart from the emotional toll it takes to sell the vehicle, the processing of selling cars is not easy either. The first thing you need to be aware of is to sell it at a fair price. Before selling, you’ll have to get it inspected and cleaned. Getting its paperwork in order is another time-consuming affair.

The second thing you need to make up your mind on is how you’ll sell it. For instance, will you be selling it to a dealer, or advertise it on the media to get an independent buyer?

The third thing to think of is how you’ll take the payment- in cash or by cheque?

 While the process may be complicated, it shall unravel with the right amount of organization and research. The end result- your car’s sale will be profitable.

Here is a step-by-step guide to help you out with selling your vehicle.

1. Study the market: The first thing you need to be is to know the market conditions. You don’t want to start selling at a price too high or too low. Know what your car’s market value is. You can find out its current market value by deducting its depreciation from its original price. Ideally, have your car’s IDV. Selling your car at year’s end is a bad idea, and selling it in summer will get you the best prices.

2. Sort out your paperwork: Regardless of when you bought your car, you surely have its paperwork intact. These papers give proof of ownership, without which you can’t just sell your car, but can’t do anything. But in case you can’t find the papers, don’t worry. Request a copy from the RTO or Regional Transport Office. If you owe money on your car, you need to determine what amount is left to be paid. You need to pay this off first before selling.

3. Transfer No Claim Bonus: Have you been a diligent driver? If so, you may have already got No Claim Bonus on your existing car insurance policy. This is a reward for those who don’t raise claims for a certain amount of time, like 3 to 5 years continuously. While you are selling your car, you need to tell your insurance provider. Request an NCB retention letter. This shall save your bonus for 2 years. Within this time period, the NCB shall be used or another car you own. Unless you permit, your car’s insurance policy shall not be given to the buyer. Even then, NCB is not transferred.

4. Get your car inspected: This is mandatory before selling. Get a professional mechanic to check it out. This shall aid in finding out existing problems, and thus in repairing them. An inspected car commands higher prices on the market.

5. Clean it up: You don’t expect to sell it’s not cleaned up, right? Think about giving some cosmetic changes and decorating the interiors. This can bring higher prices too.

6. Determine the sale mode: There are many ways to sell your car. There are dealers, third-party services, and going to an independent buyer directly. Know that going through a dealer will bring you less money when compared to advertising on classifieds. However, the effort needed to make a sale is much less in the former, which makes it ideal if you want to sell fast without worrying about money.

7. Give an attractive ad: Chances are that you’ll have to advertise as well. To do so, write a captivating copy of the vehicle. Also add a good description, good photos and a catchy-headline.

When followed to the tee, these steps shall help you to sell your car faster, without less problems.