How To Sell Your Car
If you are selling your car yourself it can be a minefield for the uninitiated, and if you are buying another car you will want the most money possible. Getting the best price for your car is actually much easier than you think, and all you have to do is to follow the steps and the money will come.
Be sure to have the Paperwork
The documentation must be in order or no one will buy the vehicle, and the papers you will need are:
- Purchase papers that establish your ownership of the car and that it has actually been paid in full. You can’t sell the car if you still owe money on it.
- Maintenance and service record, receipts for new tires, or anything else new, to show that you have taken care of it.
- Exchange of Owner form (bill of sale). Where you pay stamp duty to transfer to a new owner, download the form. This is a government tax to swap the vehicle to a new owner and is usually only a small amount a percentage of the value of the car.
How to Sell Your Car Privately
Once you have established a fair price, and this is done by looking up a specialized website where prices are set by your local Automobile Association or a similar private valuation online company. This is in the public domain and everyone has access to the sites based on the make and model of the car and how much mileage it has done. Then you can do one of a couple of things assuming you want to sell it yourself, put your car on social media with your phone number (not your address), or alternatively advertise your car on a specialized car sale website. You are not taking it to the dealer, as you will get more money selling it yourself. Use this tool to get a free online appraisal, you will get an answer in just a few minutes.
Preparing Your Car for Sale
Take your car to the specialized car wash where it will be vacuumed inside, waxed and polished outside. Make sure that the weather is dry, you don’t want it all muddy again before the buyers turn up.
If you feel unsafe on social media, post your car on one of the many specialized sites like eBay motors or Autotrader. Post some photos of your car along with the advertisement, and rather than give your phone number you can always set up a short-term email for the purposes of achieving a sale. If you do put it on Facebook it will probably sell fast, as word gets around quickly, and now is a very good time to sell a car privately, as not many cars are coming into the country due to a shortage of microchips. Get all the contacts of people who want to see the car and set up test drives accordingly.
The Test Drive
Meet the prospective purchaser in a public place and take a friend with you. Set up the test drives for one day convenient to all at hourly intervals as in most cases you will sell fast. You will need to go along on the test drive, but your friend can wait in the car park to greet the next prospective customer. Knowing that more purchasers are lined up to do a test drive incentivizes the purchaser to make an offer.
Hopefully, you can close the deal quite quickly, and you will need a bank cheque or cash. Try to wrap up the deal in one day, as you are taking a lot of your friend’s time. The negotiation process can sometimes be tricky, but if it does not go well tell the negotiating party that you have another offer who may take the car immediately.
Finalizing How to Sell Your Car Fast
If an online dealer comes to buy the car they will want a vehicle inspection, but not everyone wants to go through this process, and the average buyer probably won’t worry about an inspection and will just want to take the car away.
Once the money has changed hands, sign over the title to the new owner of the car. Cancel your registration and car insurance immediately to complete the transaction fast.
Let the experts at Sell My Car Long Island take you by hand on this process.