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Get an inspection and ask for mechanic's opinion |
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Dust all surfaces |
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Vacuum |
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Empty ashtrays |
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Clean trunk |
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Clean glove box |
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Clean storage compartments |
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Wash floor mats |
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Spot-clean upholstery |
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Wash windows inside and out |
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Polish chrome |
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Wash tire sidewalls |
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Wax exterior |
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Wipe engine with degreaser |
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Check oil (top off or replace) |
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Check coolants (top off or replace) |
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Check transmission fluid (top off or replace) |
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Check power-steering and brake fluids (top off or replace) |
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Gather service records and receipts |
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Obtain title (or find out how much is still owed on loan) |
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Place ads |
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| When selling your car privately, take a cue from dealers and make the car as attractive as possible. Use these guidelines: |
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Start by cleaning your car thoroughly. Wash and wax the exterior, remove all interior and trunk clutter, vacuum and wipe down all interior surfaces, and clean all the windows. You could have it detailed by a professional to save time. This can range from Rs 200 to Rs 500 for a simple clean and wash (shampoo, wax, etc.) |
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Replace burnt-out lights or fuses and top off all fluid levels |
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Get a vehicle history report to present to potential buyers; this provides credibility and builds trust (if available) |
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If you have detailed inspection records, prepare itemized copies (with service receipts) for prospective buyers. This shows you've kept up with maintenance and suggests you're selling a reliable vehicle |
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Many buyers will want to have your car inspected by a mechanic of their choice. You may want to have your own mechanic inspect the car prior to placing the ad in order to avoid potential surprises closer to sale |
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If you are going to sell such a car that you have bought from bank, then make a report about advance and installments of loans and insurance etc. If you don't have the detail, call your lending institution and request they send it to you |
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| The key to selling your car is pricing it wisely. A common problem among private-party sellers is overpricing. Avoid this mistake by doing some initial research: |
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Provide an honest evaluation of your car's condition to get a true idea of its worth. Remember: A potential buyer will tend to be more critical of the car's condition |
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Search used-car listings to see how similar models are priced in your area |
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Research dealer pricing, but don't expect to get the same amount in your sale. Dealer sales provide some benefits that private-party sales do not, such as return/exchange policies, limited warranties, etc |
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Factor in likely repair work. If your car is worth R.S. 400,000 but needs a new clutch, then don't expect to receive full value. Reduce the price in accordance with necessary repairs |
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You may want to consider adding "or best offer" language to your asking price. Including OBO could result in more leads, but it may also result in lower initial offers |
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Be realistic: Is your used car still a popular and viable model, or are you driving a relic of an earlier age? Be honest with yourself and price it accordingly |
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| You've prepared your car and have an asking price - now you need to sell it. A well-written ad will draw buyers' attention and can help to sell the car quickly. |
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Photos, photos, photos. Use as many photos of your clean, well-maintained car as possible. Include a variety of shots, such as exterior front, rear and side angles; interior front/rear seats; the dashboard; trunk/cargo space; wheels and tires; engine block; and other special features (e.g., if the stick shift is a key selling point in your sports car, show pictures of it.) |
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Mention amenities that you enjoyed most: a high-end stereo, a V-8 engine, all-wheel drive, a sunroof, an electronic stability system, other safety features, creature comforts, etc. What features were attractive to you when you purchased the car? |
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Are you the car's only owner/driver? Has it been stored indoors during all seasons? These items may be worth mentioning |
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Avoid generalities such as "Loaded!" or "Like new!" Instead, be specific: loaded with what? How is it "like new"? Does it have relatively low mileage for its age? Is the interior immaculate? |
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| It's possible to sell a car even if you still have an outstanding loan balance on the vehicle. This just adds a step to the transaction: closing the loan with your lender. |
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Call your lending institution to determine the best way to close out the loan. At the same time, ask about obtaining a lien release, which states that there are no outstanding loan obligations on your car |
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If you owe more on your loan than you can readily pay prior to a sale, it's possible to close the loan and transfer ownership at the same time |
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If neither of these options is satisfactory, conduct the sale at the bank or credit union that holds the title or lien on your car. Just pay off the loan balance with the sale proceeds and sign over the title to the new owner. Call the lending institution beforehand to facilitate this transaction. If the lien holder is out of state, take the bill of sale to your state's Department of Motor Vehicles to obtain a temporary operating permit for the buyer. Then, once you've paid off the loan, you can send the signed title to the new owner. While this option involves more faith on the part of the buyer, you can tell the buyer that it's also in your best interest to transfer the title as soon as possible to eliminate your personal liability |
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Leased cars represent a different situation. If you want to transfer your current lease to a new owner, you're better off using a lease-transfer service |
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| Few people would buy a car from a dealer without test-driving it first, and the same is true when dealing with a private-party seller. It may seem odd to hand your keys to a stranger, but the process should run smoothly if you follow these tips: |
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It's best to meet potential buyers somewhere other than at your home. When possible, bring along a friend for peace of mind, and make sure family or friends know of your plans |
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You should accompany prospective buyers on the test drive. This is crucial; It gives you more selling time, and it spares you the distress of watching a stranger drive away in your car. When riding along, point out all the features you love about your car, including things you didn't have room to mention in your ad. You've got a captive audience - make the most of your time |
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If the buyer makes a special request to go it alone - and you feel comfortable with that - make a copy of his or her driver's license (assuming you don't have quick access to a copy machine, simply write down the name, address and driver's license number). Set a time limit on the test drive, and exchange cell phone numbers. Also, confirm that the driver's license information matches with what you were told when you first made contact |
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Pre-plan a general route that allows the buyer to experience a variety of driving situations during the test drive. Give the buyer the opportunity to drive on the highway and in local traffic |
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| Whether you're dealing with a buyer in person, via email or over the telephone, always be careful when accepting payment. Scam artists are good at what they do; remember these steps to make yourself less vulnerable: |
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Never wire money to a potential buyer under any circumstances. If a buyer pays via a check or money order, accept only the exact amount of the sales price |
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Confirm with the issuing bank that the check is valid. Look up contact information for the bank on your own, as a forged check likely will include a phony bank address and phone number |
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When possible, go to the bank with the buyer to verify the check's authenticity. In addition, it's a good idea to request a cashier's check drawn from a local branch |
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Stick to your timeline and don't rush the transaction. If the bank is closed when the buyer wants to pay you, hold off until you can verify the check's validity. If possible, wait until the check clears the bank before handing over ownership of the vehicle. How long that takes will depend on your bank, but it should be less than a week |
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If the buyer chooses to pay by money order, follow the same safe-payment guidelines for accepting checks. Verify the name and amount with the issuing bank, and request a money order from a local bank whenever possible |
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| Transferring ownership to the buyer is easy. We list a few guidelines regarding this part of the transaction, but check with your local Department of Motor Vehicles for location-specific details: |
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Before potential buyers take their first look at your car, make sure you have the title in your possession - provided the car is paid off. You'll need to sign this over to the new owner. If you don't know where your title is or how to obtain one, see Preparing Your Car for Sale |
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It's a good idea to fill out a sale invoice, even though it doesn't legally transfer ownership. A sale invoice lists the car's vehicle identification number, a description of the car, the date of sale, the purchase price, and the names and signatures of both parties in the transaction |
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Make copies of all paperwork |
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| You decided to post an ad and you found a buyer - now it's time to say goodbye to your car. A few last-minute reminders: |
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Don't jump the gun; make sure the sale is secure. If you accepted payment via a cashier's check, follow the steps in the Securing Safe Payment section to ensure it's valid before you sign over the title. If you used an escrow service, wait until it tells you that payment has been received |
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If you're dealing with an out-of-town buyer, arrange for that person to pick up the vehicle, or consider employing a professional delivery service. Delivery services transport vehicles on large hauling trucks. Prices vary depending on the length of the transport and the vehicle's weight |
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Call your insurance company and have the vehicle removed from your policy |
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