MANILA: You want to buy a new car, that is great! But to raise the capital, you need to sell your used car. And as many of your friends have told you, it's a dreaded process. Well, fret not! Selling your used car is not as complicated as one presumes. Though it requires thorough planning to ensure you sell your car at a great deal. Every year, many used cars are sold – some are able to make hefty profits, some have to taste the losses. But if you wish to be making money from your used car, rather than losing it, read along and follow CarBay's tips to successfully sell your 'Used' car. Taking the cue from our in-depth knowledge of the Philipines auto market and insight of the used car business, we present to you an uncomplicated and simple guide that will make selling your used car a piece of cake.
Whenever you have to crack a rather complex test, don't you spend hours prepping yourself with the right moves. The same stands for your car too, after all its all about finding the perfect owner. To ace the selling test, you need to thoroughly and meticulously complete each step prior to the sale, to ensure you make the most out of your used car.
Indulge your car in some beauty treatments:
The first and foremost step is to ensure your car looks a million dollar. Even if you have been using the car for a while, it's imperative that you get it serviced before selling the car. Even if it's cost you extra bucks, shelling money now will guarantee soaring profits later. Ensure your car is spic and span inside out. Not only your car should look great, it should perform well too. A proper service will make sure that your car performance is great, opening doors to many potential buyers.
Sell it yourself:
Selling your used car through a dealer or a broker is definitely easier and saves you time – but it also means cutting in your share. It's always advisable to sell your car yourself. You know the best about your car, from every minute detail to all performance-enhancing tricks. You can also post your car's add at CarBay.com, just fill in all the details and have potential buyers contact you. All this for free.
Set the right price:
Before going in with your used car, get to know a little about the market first. This will help you setting a right price for your car, also will give you an insight of the selling process and best places to market your car. You can research online for similar brand's car or can visit the nearest showroom and dealer and get the quote. We would advise you to keep a little margin, for future bargaining purposes. Ensure that you ask the right price, neither too low or too high as this will limit your customers.
You decide to sell your used car, first buyer approach, you discuss and settle on a desirable price and hallelujah! But wait, how amazing the offer sounds don't settle for the first buyer that comes knocking on your door. Try getting more quotes on your car and then decide on which to take.
Before referring your car or posting ads online, alway’s make sure you have all the relevant information ready. That's the first thing any buyer would ask for. Year & Month of manufacture / registration . City of registration . Number of owners . Insurance type (comprehensive / third party) . Car Service history . Variant / Trim level . Kms covered . Accessories fitted . Reason for selling . Colour (interior & exterior). Even while posting the car's add online, ensure you mention all these information with it, this will increase buyer's interest.
Its time to sell your car, you have done all your homework, gathered all information, pampered your car and also set the rice price. Now it's time to get on the battlefield and sell your car to the perfect buyer at the right price.
Where to Sell?
Gone are the days where you could only promote your car through expensive newspaper ads or word of mouth. In today's world, thanks to the internet you can advertise your car at numerous websites, social media and auto forums and much more. Also go for the tried and tested method of promoting your car through word of mouth. But if you want to reap in numbers of buyers, then go online. It's easy, free and quick and have wider reach. Numerous sites online have the option to sell your car for free. Just post the add and have customers contacting you in a jiffy.
Interaction with buyers:
After posting adds and endorsing your car, you will have many buyers contacting you. Some will be there to waste your time, don't spend much of your time on them. Whenever you get the right buyer, who is genuinely interested in your car, talk straight and provide all the details. Don't be in a rush to sell the car, sleep on the quote and then go for it. Also never let the buyer test drive your car alone, always have a representative accompanying him. If a buyer requests for a thorough check of your car by a mechanic, go for it – but make sure everything is done in your presence. Last, after the deal is done, ensure you get all the money before you hand in the car, if the buyer require time to arrange the finance, agree on a set date beforehand.
Payment and Documentation:
After you strike a deal, decide on the price, it's time to sell your car, but not before complete payment. Never deliver your car before you receive complete payment in hand. If the buyer wants to pay in instalments – do not agree. If the buyer pays via cheque or demand draft, wait till its clear and you have the money in your account. Many frauds sprung up these days, don't be a prey to them. Also selling a car require lot of documentation, Transfer of ownership, written affidavit of sale all should be signed and completed at the time of the sale. You can find all the necessary documents at the official motor department's office.
By following all these steps you can ensure, your car is sold for the right price and you reap in great profits. Happy Selling!