5 Mistakes To Avoid When Selling Your Car

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Written By Online Figure

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When it is time to sell the car, owners can make mistakes that might make them settle for a lower sales price for the vehicle. This usually occurs due to an inability to bargain and a general lack of knowledge of what to do to get a good price. In this post, we will look at a few mistakes that you should avoid when selling your car.

1) Beware Of Fraudulent Dealers

When trying to sell to dealers, be sure to double-check their credibility. There are a lot of fraudulent dealers in the market who will try to confuse you and get you to sell off your car to them at the lowest price.  As such, it is important that you do a background check on the dealer and make sure that they have been in operation for several years. Their customers must also be happy with the service. And if you are looking for a trustworthy dealer to sell your car, visit Top Deals 4 Wheels.

2) Never Estimate The Car’s Value-Based On Gut Feeling

Make sure that you know the correct value of the car. Do not estimate the value based on your ‘gut feeling’ alone. More often than not, you will overprice or underprice the vehicle. To get an accurate price of the vehicle, do consider the depreciation over several years, the repairs and modifications that have been made, the demand for the vehicle, and so on.

3) Always Do Repairs Before Sale

Your car will probably have something malfunctioning here and there. Make sure that you look for such malfunctions and get it fully repaired before offering the car for sale. If you do not do this and the prospective buyers were to discover the fault, then it would have dissuaded them from making a good offer. So, do the necessary repairs as long as it will enable you to sell the car at a higher price.

4) Allow Test Driving Only After Signing Indemnity Form

It is normal for a potential buyer to ask for a test drive of your car. However, before you allow it, make sure that you get them to sign an indemnity form. If they refuse to do so, then never let them test drive the vehicle. If they were to get into an accident and injure other people, then you could be made financially liable for such injuries since you own the car. An indemnity form helps you avoid such possibilities and protects you from having to pay for any damages caused by the driver.

5) Stay Away From Installment Payments

It is possible that the buyer might request you to accept the payment in installments. They may also offer a higher amount for such an arrangement. However, it is recommended that you don’t accept such offers since you may end up having to chase them around just to get the money you are already entitled to. In the worst-case scenario, they might also refuse later payments, which can put you in a time-consuming legal mess.