There are so many factors to consider when selling your car. Some important questions you might want to ask yourself when planning to sell your car includes:
- How quickly do you want to sell your car?
- How long are you prepared to wait for the highest offer?
- How safe is it to meet up with random buyers?
- Do you have time to deal with timewasters?
- Would you trade-in your car to speed up the process?
Do we look at the Exterior items or mechanical items when making you an offer?
When you want to sell your car it’s always advisable to look at exteriors or visible items that can be seen like the windscreen, upholstery, dashboard and dents and scratches.
The first impression is very important when selling your car to a potential buyer or dealer. Investing in a full valet will increase the value of your car and improve your probabilities to get a better price from the buyer.
Any mechanical problems should be dealt with before selling your car to ensure you get the best price for your car. Prioritise what mechanical items should be fixed from most important to least important and according to what you can afford. The buyer will identify mechanical issues and if this is dealt with in advance it will speed up the sales procedure.
It’s advisable to sell the car according to factory standards, this means that any alterations that were not there originally can influence the value when selling your car. This would include unwanted stickers, interior decorations, and exterior modifications.
Where to meet with Buyer?
Always choose a safe, public place to negotiate prices and to meet up with potential buyers.
Did you know “You Drive We Sell” will do evaluations on-site? One of our amazing representatives will come to you to evaluate your car to ensure that it is more convenient for you.
What is the right price for my car?
It is always good to consider the current trade-in and retail values when deciding on a price when selling your car. Always leave room for negotiations, almost every potential buyer will try to get a better deal form you.
Used cars sold privately will in most cases sell for a price just above the trade-in value. It is also very important to be realistic and knowing these values before advertising your car.
What should I do if I owe more on my car than the current book value?
Trying to sell your car for the settlement price knowing that this settlement value exceeds the retail value will not be possible. Our advice would be to cut your losses before you fall even deeper into financial distress.
How do I know the buyer won’t waste my time?
Some people will waste your time, but let’s say you have a few potential buyers, how would you identify the best candidate? It is very important to ask the correct questions. When they request a test drive, always make sure you are never outnumbered. Always ask for their drivers’ license and always be a passenger while the potential buyer goes for a test drive.
What paperwork am I required to give the buyer?
After reaching an agreement you will have to sort out the paperwork.
The buyer would require an invoice and the invoice would require the following information: Your name, address and contact number; the buyers’ name, address and contact number; a full description of the goods, registration number, engine number; chassis number; and of course the price of the car. You should also note any special terms of the transaction. Also, ensure that you obtain a copy of the buyers’ ID as well as proof of residential address.
Once the handover has been done and money has been successfully transferred into your bank account (Please confirm the payment with your bank) the buyer will receive:
- The Invoice
- The original registration certificate
- A transfer form (Yellow) obtainable from your local licensing office which must be signed by the seller.
In what time frame should the buyer transfer the car onto his name?
Always indicate that the buyer has 21 days to transfer the vehicle onto his name. Insist on the proof of the transfer to avoid any legal action or penalties.
What if the potential buyer needs Finance?
Getting Finance can delay the Sales process for a few days. It remains the responsibility of the buyer to apply for finance at his Financial Institution of his choice. A finance application can take anything up to 10 days and the sale is not final until your buyer receives the final approval from the financial institution. Don’t make any special arrangements or bind yourself with any sales terms.
Happiness, the Buyer has qualified for finance. What now?
You will have to supply the bank with a proof of payment, a copy of the roadworthy certificate. The buyer will need to sign the agreement with the bank and the buyer will receive a release note. This release note needs to sign by the buyer and handed over to you.
Remember that the buyer has a 5 day “cooling off period” during which time he may return the car to you if he is not satisfied. These matters are enshrined in the National Credit Act. Check that page for more detailed information on the Act.