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5 things to keep in mind before selling your car

5 things to keep in mind before selling your car

Snapshot: Here're 5 things you have to keep in mind before you set out to sell your car and get the maximum value for the vehicle!

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There comes a point in life of every car owner where they have to sell their beloved car and the reason can be innumerous. But one thing is very common  among all the sellers apart from the emotions attached to the car, and it's the 'value' you receive after selling the vehicle. Everyone wants the best price for their car and this requires a certain amount of efforts to be put in by the seller.

Why is car insurance so important?

Here're 5 things you have to keep in mind before you set out to sell your car and get the maximum value for the vehicle!

Good looks always sell

As they say, first impression is the last impression and what you see makes a deep impact on buying. Basically, the looks will make or break your deal. To fetch a good amount for the car, keep your car clean and well-maintained. A clean car immediately attracts the buyer and also says a lot about the seller. Not only the exteriors, but also the interiors should be neatly polished and well kept. Keep all the necessary accessories like the AUX cables and car chargers to make the central console look tidy.

Do the Refurbishing

No matter how well-maintained you have kept your car, a minor problem in the car can depreciate the value of the car to a great extent. It's always advisable to take the car to a good service station and get it fixed for small and big problems. Who would pay those 5000 bucks extra for a chipped bumper or a broken tail light? Here are some areas to cover while getting your car furbished before selling it-

·         Topping up (changing) the engine oil

·         Windscreen washer fluids

·         AC coolant and brake fluids

·         New steering wheel cover

·         A new set of wiper blades

·         Car electricals

·         Faulty bulb or speaker

·         Fully functional spare wheel and tool

·         First-aid kit and hazard triangle

·         Soothing air freshener

·         Fixing minor scratches

·         Missing body trimmings or badges

Always remember, a prospective buyer will bring a trusted mechanic with him to check the car mechanically and so, only cosmetic changes won't help a lot. It's best to keep the car mechanically sound to get a favorable price during the sale.

Documents are the basic

It goes without saying that the documents of the car are of utmost necessity and are needed for a clean transaction. The necessary paperwork includes -

·         Insurance

·         Registration

·         PUC

·         Bank NOC (If any loan)

A fully insured car has higher resale value as compared to the one with a basic insurance or an insurance about to finish.

Evaluation and Advertising

The used car market is evolving rapidly in India and for every 2 new cars sold, there are 3 used cars sold simultaneously. This means, the competition is intense and the customer attrition rate is equally higher. In order to close the deal quickly and without any hassle, it is necessary to do the homework and find the best value of the car based on market survey. A buyer could misinterpret the value of the car based on the emotions and might be asking higher value, which can elongate the process.

Always put up your car for sale on trusted websites or dealers. Ask around for market prices of the cars like yours and decide value accordingly. Click proper images of the car inside-out and publish them on websites with a good track record. Make sure you click pictures of the documentation as a proof that the data given by you is authentic. This improves your chances of getting shortlisted.

Negotiation Round

This is where things get real interesting and real. Once you start receiving the calls, always say you are open for negotiations, but first the customer needs to take the test drive. Remember, a good car will leave the buyer split for negotiations. Maintain a firm ground while negotiating and it's ok to let go 1-2 customers if you are not getting the desired price.

As said above, your USP for the car should be a well maintained and better advertised car. The used car market is highly competitive and some lower priced cars similar to yours may be available for sale. Show your good and friendly side to the customer as they can shell an extra amount if they are comfortable with you and your behaviour. For the ones who have just bought a new one, maintain and service it regularly to get the best out later.  

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