Things to take care of when selling your old car

There are several marketplaces where you can get the best value for your car. But there are certain things you need to take care of first when setting up a deal or else if may not just leave your car undervalued but also create some future buyer/seller disputes.

File photo of a car dealer used for representational purpose only. (Bloomberg)
File photo of a car dealer used for representational purpose only.

Here is a check-list of some such points you need to know when selling your old car.

Get the wash and detailing done:

Very basic, but necessary. Make sure that the car is neat, clean and properly polished in detail when the buyer comes for scrutiny. There shouldn't be any dent or crack in the sheet metal or it might adversely affect the car's value.

Remove aftermarket accessories and performance parts:

All the aftermarket accessories and performance parts which you might have additionally installed on the car doesn't really bring its value up. It's better to remove them and sell them off separately which will fetch you a higher price.

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Also Read : Top tips to consider when buying a used car

Repair the mechanicals:

Get the car serviced and fix all the issues it might have. Also, make sure that the tyres have enough treads or else the buyer would want to negotiate on this factor and may bring the value down. In case there are some persistent issues with the car, do let the buyer know in detail.

Car maintenance records:

It is very important to maintain the car's detailed records of repairs and maintenance since it not only helps you to negotiate a better price but it also indicates that you have been a very responsible owner. These records will also come handy in case of future disputes proving that the vehicle was in a well maintained state with you.

Written contract:

Make sure that you do not finalise the car's sale with just an oral agreement. Get a written contract done with thorough detailing about the car's condition, sale price, and also the effective date of transfer of ownership.

The legal ownership of the vehicle is determined only by the registration papers and not by the possession.

Closing thoughts:

-Have a background profile check of the buyer before selling the car.

-Make sure that all the formalities are completed soon after the sale is done. This will prove to be beneficial in case of future disputes.

First Published Date: 09 Jul 2020, 20:47 PM IST
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