Selling a used car privately can be simple. Reasons for selling a car vary. You might be getting a new car or you might be tired of paying for the mortgage. Either way, keep in mind that private owners are liable for any car or parts that they sell to another individual. If you want to protect your name, here are some of the checklists that you should follow:
Purchase a Protection Plan or Insurance
This will give you and your buyer peace of mind. Potential buyers are searching for cars that have insurance because it’s safer. They can get back the money that they have used in purchasing the car whenever accidents happen. Protection plans also enable you to increase your asking price and it can be considered as a sales feature when you sell.
Paperwork for Selling Vehicles
Make sure to prepare the necessary documents for the buyers. In the US, this can vary from one state to another. When buyers ask for the paperwork and they see that it is neat and complete, they will be able to think that you are serious about selling your car. Some documents can include a history of the vehicle. If you are not the original owner, you need to answer questions such as major repairs done in the past, if there were previous accidents and a V.I.N. number if they want to do their own background check.
Maintenance records tell you if there were filter replacements, hose inspections, oil filter changes, and a lot more. If the buyer can see that the car is well-maintained, you can also increase the asking price and make a small profit in the process.
Show documentation that the warranty is transferable. Nobody wants to purchase something that will break after a few months. When you are selling your car, make sure that it is still under warranty as the new owner might decide to take a visit to the mechanic because of battery problems. You should provide information such as contact numbers, the coverage, manufacturer warranty documents and more. You should also call the warranty provider and inform them that you are transferring ownership of the car and see if they have further requirements.
Provide odometer disclosures and “as is” documents. This just simply says that the buyer accepts full responsibility for the used vehicle when the purchase is completed. You don’t need to be bothered by owners who frequently come back to you just to complain or make you do the repairs just because they are not up to the job.
Be What Buyers are Looking For
Ask yourself if you would buy the car that you are selling when you are looking for one. Make sure to include any important features such as GPS system, security, stereo, air conditioning units, and leather chairs. You should also provide high – quality photos that can possibly entice online buyers.
When you have agreed to meet up with a potential buyer, you should do it wherever you feel comfortable. Do not include your address or any other important information on your ad. You don’t want strangers showing up in front of your house or other people stealing your information. Ask them to leave at least two IDs when making a test drive. Make sure that they have a valid driver’s license.
Not everything is fixed. If the buyer is aggressive, you have to know the value of your car. Don’t settle for anything less. You have to set a limit on the lowest price that you could accept. There are a lot of buyers out there. You just have to make sure that you are safe and you are getting a good deal when selling your car.