Are you looking for the best way to sell your car privately?
Selling your car privately seems easy. You list your car, meet the buyer and exchange the money for the car. However, several mistakes could be made that can cause big problems later on.
There are a few incredibly important things you need to know before taking the plunge. if you are not careful, it could be an expensive mistake.
We want to make sure that doesn’t happen! Here are four mistakes to avoid when selling a car privately:
Not Inspecting The Car
Most people know they should fully inspect their vehicle before buying it themselves, but may forget to do the same when they’re trying to sell their cars. You need to know exactly what you’re selling before you finalize any deal with another individual.
This is true whether you’re trading in your current vehicle or selling it outright. Make sure all fluids are topped off (including oil, coolant, and brake fluid), check tire pressure and tread, and even go through the interior to make sure it has all of its parts.
You can see how simple the process of selling your car privately with Carmax is here.
Not Doing Enough Research On The Market
When selling your car privately, you need to know how much it’s worth in today’s market. Sites like Kelley Blue Book and NADA Guides provide simple tools which allow you to see an estimated value for your vehicle within minutes.
Using this information, you can then adjust the price of your vehicle up or down accordingly so that potential buyers will be interested in purchasing from you instead of someone else.
If you simply list the vehicle at a price that is too high, no one will want to buy it and you’ll have wasted time with little success; if the is too low, someone may take advantage of you and try to get a deal without revealing what they’re truly willing to pay.
Not Doing A Background Check On The Buyer
When selling a car, always do some sort of background check on the buyer before allowing them access to your vehicle. You can even ask for their driver’s license number so that you can perform an instant background check which will reveal any criminal activity in their past.
If they balk at giving you their license info, it could be for good reason; see if any other warning signs make you feel uncomfortable with this person before handing over your keys.
Not Asking A Deposit
If someone shows interest in your vehicle, insist on getting a deposit before making any type of exchange. At the very least, you should get their name and phone number so that you can contact them later if they’re no longer interested; this will allow you to bring the car back on the market where it belongs.
Regardless of how eager someone may be to buy your car, do not make any type of transaction until you have some type of guarantee that they are serious about purchasing your vehicle!
Need More Help Selling Your Car Privately?
When selling your car privately, if you choose to sell it privately, following these four tips can prevent costly mistakes which could cause unnecessary problems for yourself down the road. Selling your car is always easier with help from sites like eBay Motors or Craigslist; no matter what route you decide to take, do your research before finalizing any deal.
Don’t forget to check out our blog for more articles just like this on how to sell your car privately.