7 things to do before selling your car
7 things to do before selling your car
Change can often be refreshing. A new haircut, a new pair of jeans, or a new car. Yup, a new car! Why not? You sometimes have to switch into high gear.
But before you can get behind the wheel of your new cruiser, you have to sell your current car. That’ll be easy peasy with these 7 tips!
1. Gather all your documents
Before embarking on any task, it’s always a good idea to gather any documents you may need.
If you can, locate your:
- Owner’s manual
- Repair invoices
- Purchase contract
These types of documents will allow potential buyers to make their decision based on accurate information.
They can also help you answer any questions they may have. You’ll have everything you need.
2. Cleaning
A clean car – now there’s a sparkling idea!
A well-maintained car definitely stands out from the rest. A car that looks neglected will likely not get noticed. So it’s time for a proper cleaning, both inside and outside of the car.
Your ride would also probably benefit from a few cosmetic touch-ups. For example, you may need to apply some paint in a few areas. What matters is increasing its value.
3. Determine a selling price
How do you set a sensible price? It’s vital not to miss the mark.
Start by consulting a few websites so you can get a good idea. Compare models that are similar to your car and:
- Are manufactured the same year
- Have approximately the same mileage
- Have approximately the same usage
You can use online tools to evaluate the average price and get an estimate for your vehicle.
Your mechanic can also help you establish a price. You have several options to help you with this one.
4. Be transparent
If you’re asked any questions, honesty is always the best policy.
If you don’t tell the truth, you risk putting the brakes on your sale. Also note that you are obligated by law to disclose any defects on your car, or anything else that may diminish its value.
It’s always best to be above board.
5. Ask for a deposit
If you want to know whether the person interested in your car is as serious as you are, it’s easy: Just ask for a deposit to speed up the process. You can move forward more confidently.
Ask for the rest of the money when you transfer the car over to the new owner. But take note! Only accept payments in cash, fund transfers or certified cheques.
In order for everything to go smoothly, say no to financing agreements. That’s what banks are for, after all. Not you.
6. Sign a contract
To avoid any misunderstandings, consider filling out a written contract between you and the buyer of your vehicle. Even though this step is not mandatory, it can come in handy in the event of any problems. Be sure to include:
- Your contact information
- The buyer’s contact information
- Date the contract is signed
- Information on the sold car (brand, year, model, etc.)
- The amount of the deposit
- The total transaction amount
Before calling it a day...
Do you need a legal warranty? The short answer is no.
It’s entirely up to you if you want to include one.
Making the repairs required for your car to run smoothly is not mandatory.
7. Contact your insurance company.
You did it, you sold your wheels. Congratulations!
Before considering it a done deal though, take one final step: Contact your car insurance company. This way you’ll make sure you don’t pay premiums for a car you no longer own! You’re now free as a bird!
Happy trails!
