Car Sales - Protect Yourself
Selling your car yourself can be easy and profitable. Even so, there are a few important things to keep in mind.
These simple steps will help protect you and help make the process go smoothly:
The Test Drive:
Most potential buyers will want to take your car for a drive before purchase, you should pick the place, which should be a safe, central meet-up location in a public place, ideally near a relaxed test drive route. Before the drive, ask to see their license and hold onto it, and always accompany the driver on the test drive. Always plan ahead and ask a friend or family member to join you for the ride. If the test drive begins and ends at your home, conduct the transaction at the curb instead of letting the buyer into your house.
Ensure a safe transaction:
If the person is serious about buying the car, he or she will likely want to negotiate the price. Ideally youve discussed forms of payment in advance, and once youve settled on a price, you should meet them at their bank or credit union to complete the transaction.
Refuse any unusual requests, such as driving the would-be buyer to another location. Often, such a request is framed in terms of getting the money or arranging a loan to finish the sale. Instead, tell the buyer to make his arrangements on his own, leave a deposit and call you back when he is ready to conclude the sale.
Keep a paper trail
Its important to maintain a paper trail when selling a car. At a dealership, the paperwork is handled for you. But when you sell to an individual, its your responsibility to make sure you make the transfer properly. A little legwork upfront can eliminate hassles down the road.
Each state has different rules regarding proper title transfer, but most require that the both the seller and the buyer fill out paperwork to ensure the transfer is legal. Another thing to be warned of if you plan to sell your car for scrap is that often tow truck drivers or mechanics, who offer to buy clapped-out cars for a few dollars for scrap. Many people just hand over the ownership, assuming the car will be crushed shortly afterwards. However, it’s not uncommon for these to be resold and kept on the road, and if you haven’t seen the ownership changed, you could still be responsible for the vehicle.
Just use your head! Use your gut, too. Be smart and be prepared for anything when you sell your own car. With most deals, there’s usually no problem at all but you never know. You don’t want to be that one person who got scammed or even hurt.
After all your work of marketing a car and getting a buyer to your door, you don’t want to see the whole deal crash down or lose a good chunk of money.
Be smart, follow these tips and you’ll be able to protect yourself when you sell a car.
Date Published: Aug 3 2017 9:43AM
Date Edited: Aug 31 2017 9:47AM