Private seller? How to sell your second hand car April 23rd, 2018

Private seller? How to sell your second hand car

If you have outgrown your current car and feel that it’s time to move on, you will need to sell it. This may seem like an easy process but it can be quite tricky for those who have never sold a car before. You will need to do some research online about the possible resale value of your car, as well as prepare all necessary documents ahead of time. Read on for more helpful tips for a successful sale of your second hand car.

Research the resale value

In order to know how to price your car, you should look online for resale values of second hand cars similar to yours, or your exact model. This will help you to set the best price that will get your car sold and still allow you to make a profit.

If you are struggling to find the correct details online of your car’s resale value, you can go to a dealership to speak to them about what they would value your car at. If you know the exact resale value of your car, you can price it accordingly, leaving plenty of room for price negotiation between you and any potential buyers.

Choose how to advertise your car

One thing you need to think about when planning to sell your car is where you choose to advertise it. You could advertise online, on platforms like Gumtree or We Buy Cars, otherwise you could choose to advertise in your local newspaper classifieds section.

You could also place a sign in the window of your car so that people will see it, which could lead to more immediate responses than an online advertisement. Placing an advertisement in the local newspaper can be expensive, so your best choice is to use a free online platform or to place a sign on your car or in the window of your car for people to read.

Repair and replace

Once you have researched the resale value of your car, you will need to repair any damages and replace all parts that need replacing. You will find that selling a second hand car is not a successful endeavour if your car is significantly damaged or in a bad condition.

Check for tyre damage, ensure that the brake pads are working and have the clutch examined by a professional. Repairing your vehicle and replacing damaged parts relates to more than simply making a sale, it ensures that the new driver will be safe and secure when driving the car. You should also get a multi-point check done of the vehicle, as well as a roadworthiness test.

Have your documents ready

This is an important step for both you as a seller and for potential buyers. Listed below are the important documents you will need to have with you when you sell your car:

Proof of ownership: If you have paid off your car in full, you will have a proof of ownership certificate, as well as a letter stating that the car has been paid in full. If your car has not been paid off in full, you will need to ask the bank for a settlement letter. This letter shows you how much you still owe on the vehicle and can be presented to the buyer instead of a proof of ownership certificate.

Notification of change of ownership: In order to transfer the ownership of a vehicle, you will need to fill in a notification of change of ownership document. This is known as the ‘yellow form’ at the traffic department, and upon the sale of the vehicle, both the buyer and the seller need to sign the form. Keep one copy, give one to the buyer and one needs to be sent to the traffic department.

Vehicle registration certificate: Be sure to have your vehicle registration certificate with you when you sell your car. This is because the buyer will need this document in order to complete the new registration after purchasing the car. It is important to keep a copy for yourself to deregister the car and one for your own personal records. You may need the document to prove your credit history at a later stage if you buy another car.

A roadworthiness certificate: In order for the new owner to register the car in their name, they will need to have a roadworthiness certificate. This certificate is only valid for 21 days, so this is an optional step for you as the seller. The buyer can also perform this step after the purchase of the vehicle.

Final thoughts

Selling your second hand car can be daunting, but it does not have to be difficult. Once you have researched the resale value of your car, you can look into advertising it online. You will have to make repairs and replacements before you sell in order to gain more profit and for the safety of the new owner. While the process of selling your car may seem like a lot of preparation, you will find that it is worthwhile to make the effort, ensuring a successful and easy sale.