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Tips for Selling
How much you get for a car depends on how fast you want to sell it.
Most people sell their car to buy another newer and better one. The
seller usually wants to sell and use the money for partly financing his
new car. Just like many other car owners, you probably cannot live without
the convenience of having a car at your disposal. You have made up your
mind on which new car to buy and are getting impatient to own it. Selling
your car in this manner would be as bad as any other distress sale....you
always end up getting lesser.
The car market has seen a lot of flux and you have to realize that your
car sheds a good amount of Rupees even as you roll out of the showroom.
You need to research a bit on the market value of car and work-up what
you feel is a fair amount that you should get.
What's a fair price for your Car :
 Apart
from depreciation (wear and tear) your cars resale value depends upon
a lot of other factors. Today, those in business have uncertain cash flows
and the salaried folks have limited resources. Most buyers are looking
for smaller budget cars or bigger cars that are at a very good bargain.
So as a seller you will have to shed a huge amount to sell a bigger expensive
car.
Your cars value also depend upon the price of new cars. Competition in
the new car market is driving car manufacturers and dealers to offer more
to their customers. New cars are coming with discounts, freebies and even
extended warranties to lure car buyers.
Geographical location also matters, your Mahindra Commander or a Sumo
are more sought after in smaller towns than in urban metros.
Policy and regulations play an important part. The government is tightening
emission norms and even this could affect your cars resale value.
You can get an idea of how much you car will fetch you by talking to your
workshop or garage owner. You can also call up a used cars dealer pretending
you want to buy a car similar to yours. Looking up classified advertisements
on newspapers and on the Internet can help you get an idea of market prices.
Where
can you Sell your Car
-
Used Car Dealer
- Most used car dealers offer you 'Spot Payment' for your car, however
these deals are good only for those who want immediate liquidity. You
get money on spot - but at a cost. The Dealer discounts your cars value
by a substantial amount and you get much lesser than what you could
have got if you had more patience.
Used Car dealers account for major share of the used car market today.
Dealers of repute add a lot of value to the transaction. Some dealers
get a third party evaluation for estimating your cars value and offer
you to keep the car with them for display and inspection by prospective
car buyers. They buy-n-sell cars on a fixed commission and make money
by having a bigger turnover.
If you cannot leave your car with the dealer, they contact you and organize
to display the car to the buyer.
New Car Dealers - Many 'New Car' Dealers offer to buyback your
car under their exchange schemes. They offer free evaluation of your
cars price. They conduct 'exchange melas' where they keep your
car on display and invite buyers by advertising the event. As the deals
can happen face to face you can probably get a good deal. Usually buyers
are fussy and take longer to decide and exchange melas thus don't see
many deals happening.
New car dealers also make spot offers for buying your car, but this
deal is again one-sided obviously favoring the dealer. More and more
New Car dealers are taking to this business. They refurbish and sell
used cars with a limited warranty to buyers who don't mind paying extra
for the reassurance they get.
Classified Advertisement - Newspaper classifieds are quite popular.
Pick up any newspaper and check out. Although most advertisements are
by dealers who sometimes even pose as individual sellers you can find
a lot of sellers advertising in newspapers. Advertising your car is
a good way to sell your car as the buyer can contact you directly and
you save on the cost of an intermediary. The process can be longer and
cumbersome as the responses are mostly by telephone. You also have to
be patient and understanding as the buyer may want to make a thorough
inspection.
www.cybersteering.com Used Car Classifieds
 The
Internet could help you advertise your car to potential buyers all over
the country. It is the reach and convenience of the Internet that could
help you get a great deal. You have the convenience of checking out
offers by E-mail which buyers could mail to you directly. People worldover
are using the Internet in the used-car buying process: research and
purchasing. Since you are reading this, you have probably already realised
that the Internet is a great way to do some pre-buying research.
The car advertisement you have posted is probably being read by a potential
buyer just next door or someone in another city, and this buyer knows
that he could now get a great deal - Better communication leads to better
transactions.
Preparation
can help you sell and close a good deal
Before you put your car up for sale ensure the following :
Papers and Documents - Get your cars papers organised. As most
buyers would usually want to know about the cars documents - the registration
book, the insurance policy, the taxation document need to be kept ready.
You can keep the photocopies of all important documents as a buyer may
want them for verification. Many car owners maintain a log of their
cars service and even bills for parts replaced. Having records like
this adds value to your cars price. Maintaining regular service records
indicates that you have actually cared for the vehicle.
Get you car ready - There’s nothing more likely to ruin your
chances of getting a decent price than showing up in an unwashed car.
Here’s a list of things to do in preparation for a trade or sale:
- Wash and wax the exterior
- Thoroughly clean the interior fabrics, vacuum the carpet, and remove
any debris such as food wrappers, coins, aluminum cans, etc.
- Change the oil and oil filter. The buyer will check the dipstick to
make sure the car’s engine has been properly cared for.
- If any repair work needs to be done, get an estimate on the cost.
The value of your car is lessened with every tiny flaw, so know exactly
how much repairs will cost. This will help you arrive at a fair value.
If you make a deal and are selling your car, make sure you complete
the documentation and paperwork that will indemnify you of all future
responsibilities of owning the car. The car has to be transferred to
the buyers name and necessary changes in the RTO and Insurance documents
have to be made. We can tell you about a not-so-cautious seller who
never bothered to complete these formalities and was in a real soup
when the same car was caught by the police for transporting narcotics.
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