What you really need to know before you decide to sell your vehicle
JOHANNESBURG - Selling a car is a big decision on a big-ticket item and you want to get the most bang for your buck. Faan van der Walt, CEO of WeBuyCars says that as a seller you should take note of several points that will ensure you get the best price for your vehicle.
How to get the best offer
Get your facts straight: Before meeting with a possible buyer, be sure to have all the necessary facts and information about your vehicle ready. These include the availability of the vehicle’s spare key, its service history and paperwork like invoices and registration document.
It’s a big bad world out there with dishonest people taking advantage of a seller’s possible innocence, ignorance and naiveté when trying to sell a vehicle.
Beware of scammers: When advertising your vehicle, someone may claim they have a buyer for your vehicle only to fill their inventory and present your vehicle as stock on their floor. After eventually receiving a low offer from one of their interested buyers, you might become frustrated, as your car and your car’s paperwork is already with them.
Never let it go: Never part with your car before money from the buyer has cleared in your account – it is imperative to make sure funds are cleared.
Consider a reputable car buying service: Do not allow someone whom you don’t know or trust to meet up with you or test drive your vehicle. Prioritise your safety and rather make use of a reputable car buying service.
The golden rule of selling your car – if it sounds too good to be true, it probably is.
Familiarise yourself with the paperwork
Make sure all relevant paperwork is dealt with correctly and in a legal matter.
Once WBC (WeBuyCars), for example, has bought your vehicle they will settle the outstanding balance with the bank should you have one, and you will receive what is left. Vehicles cannot be sold to anyone unless the bank has been fully settled first.
Have all documents and any maintenance history and service records at to hand and keep these safe.
Keep receipts for any work carried out while you've owned the car.
A fully stamped dealer service record adds value if you've got one.
It is important to take care of the notice of change of ownership (NCO) when selling your car to prevent receiving parking tickets and speeding fines on a vehicle you no longer own or operate.
It is important to have a full history of your vehicle. Nothing gives potential buyers true peace of mind other than seeing full records of the maintenance and repair history of your car.
Repair obvious faults
Identify the major faults that may be a deterrent to a sale and get them fixed. You don’t have to go for a complete makeover of your car but conducting basic repair works can improve a car’s resale value.
“We buy and sell between six and seven thousand cars each month, so we have a really good idea of how sellers should approach the sale of a car. Taking note of these simple points can mean the difference between getting the right price or being unfairly disadvantaged. In today’s economy, any seller should do his or her utmost to obtain the fairest price for their car,” says van der Walt.