How to Sell Used Car. Process, Tips with 4 Step Guide for Best Price

Selling Used Car to Direct Individuals or Dealer is now Fairly Easy. 4 Steps Guide with Process to Sell Old Car at Best Price  with Car Care, Negotiation Tips

 

Used Car Sale Process

"There comes a time in everyone's life when good-byes must be said"

So you decided to Sell your Existing Car and either Keen on

• Exchanging with New Car
• Simply Dispose your Yester Year Old Car

Here is Simplified Process to sell your Used Car

 

Step 1 - Assess your Old Car Condition and Valuation Price

Remember - you are selling your Old Car and not scrapping same, so the car you parting will be bought by someone as his dream car for him and his family.

Do Assess in 

• Condition of Car as that plays the most important role in valuation price
• Collate in Car Service History Bills 
• Check and Ensure that Original Documents - RC, Valid Insurance, PUC are there in Car
• What are the Strengths of the car and what all are Issued in Car (make a Note of Same)
• Dont be afraid if any Accidental Repair / Replacements are done (Like Bonnet, Door, Windshield et)

Explore in Used Car Valuation Calculator

If any Minor Repair, Polishing Work, Dent Repair to improvise Car Condition is needed by spending rs 2000 to 5000 - dont hesitate to do same as such work can increase car value and probability of quicker resale multi Fold.

 

Step 2 - Identifying Medium of Sale (Selling through Broker or Directly on Own)

Although it looks easy and Convenient to Speak to a Broker or Dealership Used Car Team

But - Convenience comes at a cost and if you plan to sell your Used Car through any

• Used Car Dealer or Broker
• Exchange against New Car at Dealer Showroom

Your Used Car will only fetch a lower value.

A Used Car Dealer or Exchange Team at Car Dealership Business is to Make Profit by

• Buying Car at Lower Price
• Selling Car at Higher Price by refurbishing Same

We recommend Selling through Dealer or Broker in only cases

A) When Your Car is Good 10 Year+ Old and getting Good Additional Exchange Bonus (in consideration of New Car) under Manufacturer Scheme - Total Value turns out to be as good as Market Value of Car

or

B) If you want Instant Liquidation Price of Old Car and cares lesser about losing 5% to 10% of Fair Value (A Good Dealer will Offer you upto 80% of the Fair Value in 1st Meeting and can negotiate from 90% to even upto 95% on High Selling Models like Wagon R, Swift, Honda City, Innova etc)

A Certain round of negotiation and if happy with it may proceed to sell car at dealership, you should read on process note :- Process to Exchange Car at Dealership

 

Selling to Direct Individual

It is the best way to fetch best value on your used car. 

Though required bit of legwork - but in some cases immediate transaction or deal is also possible

Below are Tips to get Best Price from Direct Seller or rather say End User.

 

Step - 1: Initial Preparation 

Service History: Think yourself in shoes of buyer, its best to give confidence to buyer by having ready set of documents :- Service History (Bills), RC, Insurance, Tyre Bills (if replaced in last 2 yrs), Battery Bill or any Accessories Added

 

Its important to note that a Used Car with Service History (i.e. Bills) documented is like one of the Key USP Selling Point of Transaction. It inspires a confidence in buyer about :- No Odometer Tampering (as Kms mentioned in Bill) and also let buyer know that Servicing done with Authorized Center. 

Price it Competitively : Its Very Important to Self Assess the Vehicle, Maintenance and Price it Competitively. Check Used Car Valuation Matrix and Assess Vehicle Condition so as to put a Sticker Price. Have also a Reserve Price - below which you will not go  

If require check Prices as given of similar car Model in Various Websites.

Preparing Car : Think of Day - 1 when you went to buy car in Showroom Condition - It was Well Washed with Clean Interiors

A Car is physical product which the buyer would be buying. Having a Good First Impression goes on through Looks, Clean Interior and for a Car it matters the most. Its a Good Idea to get Interiors Cleaned including Seat Upholstery from food items, Foot Mats and add Mild Perfume in Car - so that the first impression goes positive. If required get small touch up done on Exterior paint, Get Car Seat Cleaned from food items. These small things helps only in getting your demanded price from buyer.

If you looking for a Best Price of your Used Car - you need to Invest on Car cleaning and Polishing - it all costs in around Rs 2000 to 3000 - but can help you jacking in prices by even as high as 5%.

Knowledge is Power:- Be aware of documents, RC Transfer Process, Transfer Charges and RTO Forms - so as to remain informed in front of seller. If your car is financed - do have repayment schedule obtained from bank. It all helps:- Know RC Transfer Process

 

Step - 2: Pitch & Promotion

Create Ad that Sell - Who Else knows the Condition of the Car, Take up 4 to 6 Snaps including Interiors, Exteriors. Put up Well Documented USP of Car including Service History, Condition, Pickup, Niggles and Craft an Ad with a Price which will let Buyer Interest Add up.

Spread the Word - Whats there in the product or a good price - if you cant find enough buyer for the product. Time to Spread the Word by Posting Ads

Ensure that the car going to sell - reaches all medium of communication. Put Up Online Classified Ads which are 100% Free and Effective to sell car - Mycarhelpline, Quikr, Olx. 

Spread it to your workplace about selling car - Share Same through Social Media on Twitter / Facebook or Whatsapp to your Friends. Speak to Parking Person / Driver / or even your Trusted Mechanic too - These old ways still work much effectively to get you a buyer at a good price

Perseverance - Prepare in Advance about the car to be sold - ideally 45 days in advance. A buyer can strike any time, but its a sufficient time to meet multiple buyer for your car and at a Value Price. Let be honest of any technical snags and Plus Points to put yourself as honest face in front of buyer.

There is never a fixed price when one look for selling an old product. However, lets be firm too on the price looking to sell. 

 

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Step - 3: Preparing for Final Transaction Deal

Customer Leads - Ad you will have will have Inquiries coming in. One thing important is Patience - Customers will Often tend to ask Same Questions of whose information is already mentioned in Advertisement

Its important to be Inviting - rather than showing reluctancy in sharing information. If a buyer is unknown, he will try to Satisfy himself and then only will fix up time to meet

Face to Face - Its a Make or Break Time 

Put the buyer at ease by answering their questions. Tell them about key features, who drives the car and any basic reason why you selling it.

A Buyer will try to Inspect Vehicle, take a Test Drive or Inspect from his Mechanic. While - its important to accept request but also simultaneously be vigilant to do all same within your premise (home or office). Reject any uncomfortable requests (if it does not suit) like letting the Person take away the Car on his Own for a Test Drive - even if he asks him companion to be standing along with you for surety.

Negotiation: While Negotiating for Price - never be in hurry or show over enthusiasm. At times - the buyer let know about small issues or problem in car to put a pressure for bringing down price - but its important to be firm and relaxed by stating that - "Car drives well and its a used car, and not a new car which you are selling. General Wear & Tear is always a part of Used Car Ownership".

Also if buyer looks serious and in need of car he will only jack up the price - provided seller remain firm on Merits of Car including Condition, Mileage along with Service History (if available). However, when you get a - "Take it or Leave it" offer leaves very little for counter offer - Borrow time for couple of days (if offer is still at your desired price) to give a cooling off period to raise demand (very marginally) or accept same.

Also - have the form of Payment, Transaction Terms, RC Transfer Fees & Responsibility with Agreement etc clearly discussed. Do check Original ID & Address Proof and retain a copy of ID & Address Proof before executing the transaction. Do not sell your car on address proof documents like Rent Agreement or on photocopy or unclear documents. It may well be possible that your car will never get transferred in name of seller.

 

Step - 4: Post Sale of Used Car

Follow up for Transferred RC. Do note that in event of RC not transferred - vehicle will show off in name of original owner in RTO Records and any unfortunate event or misuse of vehicle will make the original owner of the vehicle as First Person Responsible.

Its best to not to take this casually and ensure that RC Transfer Documents should be submitted in RTO and Transferred RC is received by Buyer before calling transaction as completed. Rather - is the most important aspect for ensuring that you are out of any future hassle of traffic offence or mishap of road accident.

Along with RC, Insurance, PUC, ID Proof and Address Proof - RTO Form 29, 30 needs to be signed by seller and buyer.

For info - If documents are completed and RTO Forms are submitted in RTO - it does not take more than 2 weeks for transfer with new smart card issuance in regular scenario.

Happy Selling !!!