If you are ready to sell your car, you will no doubt want to make sure you secure a good price and a quick sale. However, when you are in a rush to do something, this is when mistakes can happen. The last thing you want to do is commit an error that can leave you with a nightmare scenario on your hands. With that in mind, read on to discover some of the most critical mistakes you need to avoid when selling your vehicle.
- Taking a cheque – You need to be careful regarding the payment methods you accept when selling a vehicle. Lots of things can go wrong when you accept a cheque. For example, the person could drive away with your car, which is now in their name, only for the cheque to bounce a few days later because they don’t have the money to fund it. Not only this, but the cheque could be forged, which would leave you with another disaster scenario on your hands.
- You don’t consider all of your options – There are so many different ways to sell vehicles today. Not only do you have the option of selling your vehicle directly to someone who is interested in owning it for him or herself, but you can also sell your car to companies that specifically buy vehicles. You can find out more information about this at https://ibuylc.com/. A lot of people prefer this approach because it feels more secure. It is all about determining the best option for you – the best type of sale and the best price.
- You fail to disclose important information about your car – You need to disclose everything about your used vehicle to the buyer. It can be tempting to paper over the cracks or avoid telling the interested party about certain aspects of your car. However, this will only come back to haunt you. If the buyer discovers this a few months down the line, they could come after you with a lawyer, which is the last thing you want. Even if the person making the claim cannot prove that you didn’t disclose the information, it is still going to cost you money in the form of legal fees.
- You accept private instalment payments – Another mistake involving the payment structure and method. There are a number of reasons why you should not accept private instalments. Firstly, it can be incredibly difficult to chase late or missed payments. What if the seller argues that they have made a payment when they haven’t? You can find yourself in an awful situation. Not only this, but a private arrangement like this requires extra effort, plus there is the potential financial worry that you need to consider too. After all, if the buyer is asking to make instalments, this is surely an indication that they don’t have the capacity to pay for the car at the moment? How do you know that their situation is going to improve or that they are going to be able to make the payments in the future?
- You allow potential buyers to drive any route they want during the test drive – This is another mistake that a lot of people make when selling their car. After all, there is nothing wrong with letting the buyer drive wherever they want, right? Wrong! It is important to reduce the risk of potential accidents, and this is why you should prepare the test drive route, rather than the potential buyer. If an accident does occur, you would have to pay for the repairs. So, what should you consider when preparing a test drive route for your buyers? You should avoid peak hours, do not drive into major motorways, avoid narrow streets with heavy pedestrian traffic, ensure there are minimal red lights in a row, and make certain that day-to-day traffic is light. If you follow these tips, you will increase the chances of your test drive being smooth and trouble-free. After all, your potential buyers aren’t going to be able to tell how well your car works if they are simply stuck in a traffic jam are they?
- You don’t provide an indemnity form for test drives – Failing to prepare the test route is bad enough, but not supplying an indemnity form is much worse. It is important to be strict because you will be liable for any damages or injuries that happen during the test drive if you have not gotten the buyer to sign an indemnity form.
- Missing paperwork – When you sell a car, signing over the title is not the only piece of paperwork you will need to complete. You can find more information on the paperwork that needs to be carried out here: https://www.autotrader.co.uk/sell-my-car/advice/what-paperwork-do-you-need-to-do-when-selling-a-car. If you do not provide all of the paperwork that is required, you could find yourself in a compromised position.
- A bad sales pitch – Last but not least, you will really struggle to make a sale if you have a bad sales pitch, or you don’t have a sales pitch at all. So, what do you need to do to ensure your sales pitch is on point? Firstly, make sure you have knowledge of the vehicle’s safety features and reliability. You also need to get the performance specifications of the engine, know the affordability of replacement parts, are aware of any recalls that are associated with the car, know the fuel economy, and research any advantages that are associated with your specific vehicle. This will ensure that you have all of the information that is required to sell your vehicle effectively and answer any questions that a potential buyer may have.
If you can avoid the mistakes that have been mentioned above, you will increase your chances of a much smoother and hassle-free sale. From providing an indemnity form for test drivers to being careful about the payment methods you accept, using the tips that have been discussed will make a massive difference.