What are the most important factors you need to consider when you plan on selling your car? Find out what are the important steps to ensure you get the best deal while selling a car.
You may have thought it over many times, but letting go of an old car is never easy. After all, the car has given you wonderful memories. Besides, the process of selling a car is not easy either. There are so many processes and protocols to consider. There are no shortcuts when selling an old car. So, here are some of the things you should consider.
- Do the PaperworkThe first step is to have all the documents in place. Start by making a list of the documents that the prospective buyer might need. These include the registration certificate, regional transport office (RTO) tax details, documents of service history, a ‘no objection’ certificate if you bought the car on loan, and any pollution or emissions certificate.
- Get the Insurance RightYour ride fared well on the road. As a result, your car insurance policy has a no claims bonus(NCB). The credit goes to you for handling your car well. If you are selling your car, inform your auto insurer.
You could ask for an NCB preserve letter to retain the bonus for up to two years. You can then transfer the NCB onto your new vehicle. Your auto insurance is not transferred to the new owner unless you wish to do so.
- Run the InspectionsYou may want to trade your present car because maintaining it is expensive. Before you sell, get the car checked thoroughly. If there are any small faults, fix them. Making sure that your car is well maintained will help you negotiate better.
- Know the ValueIf you plan to sell your car, you will need to evaluate it. The first step is to identify the real value of the car. You could do your own research or consult a car trader. Remember, the market works differently for different vehicles. A vintage car is priced differently from an economy car or a luxury vehicle.
- Get Your Car Ready for the ShowYour best strategy is to put your best foot forward. Start by giving your car a good wash. Clean the interiors as well. Finish off with some polish and wax to make the car gleaming like new. The local car wash can do this for you.
- Bring Out the PhotosHaving some good photos of the car could also aid the sale process. Use the photos when you post advertisements. Visual images attract more buyers.
Finally, you can choose to sell the car yourself or through car traders (dealers or online platforms). While opting to sell your car through online platforms will save you from all the hassle as they provide end to end solution, choosing to sell your car yourself will fetch you the best price.
###Read on to know what to consider when selling your prized possession
