Selling a car can feel like a simple transaction on the surface, you find a buyer, agree on a price, and hand over the keys. But as with anything involving significant sums of money and legal documentation, the process is rarely that easy unfortunately. Most people would prefer to just click their fingers and convert their car to the exact asking price they had in mind, but this doesn’t track with the real world. How frustrating.
That said, if you follow the broad strokes of wisdom, you’ll be okay. In this post, we intend to help you learn about the little mistakes that end up causing the most trouble regarding this process, those that can reduce the sale price, lead to unnecessary delays, or even make the deal fall through entirely.
With that in mind, here are four common issues to avoid when selling your car:
- Not Preparing The Car For Sale
It’s pretty clear that a dirty or poorly maintained vehicle sends a message to buyers that it hasn’t been cared for, even if that’s not true and the vehicle works fine. This can lead to lower offers or fewer interested buyers, just as you would lose interest if a buyer showed up like this. That’s why it’s almost always worth spending some time cleaning the car inside and out - a quick vacuum and a fresh air freshener can be a decent place to start and looks so much better than neglecting it .
If there are obvious issues, like a cracked windshield or frayed tires, it’s wise to focus on fixing them beforehand and eating the cost. It’ll help you avoid having to negotiate down from a testing buyer. This also goes for the smaller maintenance efforts you go to. Topping off fluids, replacing burnt-out bulbs, and addressing any dashboard warnings make a big difference. Buyers want to drive off feeling confident about their purchase, not worrying about their first visit to the mechanic.
- Overpricing Or Underpricing The Vehicle
It’s natural to want the best possible price for your car, and some very generous individuals may worry about a scuff and try to price it down a little too much, but being overly optimistic or pessimistic can backfire. Listing a vehicle at a price far above its market value often causes much fewer inquiries and a longer time on the market, and you may wonder why no one wants it. Consider using a car valuation service that helps you get closer to the ball park and then go up or down depending on average mileage etc.
Just remember that if you can use platforms like this, buyers can too. That means you may need to justify why yours is above average cost, or why you’re selling it for lesser.
- Ignoring Your Paperwork
Every country has specific requirements for transferring ownership, so research these before you even start advertising the car and make sure you have everything to hand. That’s because the title transfer is often the most necessary step, and without doing it correctly, the buyer legally cannot take ownership, and you may still be liable for the vehicle. If they crash the vehicle without a title transfer completion you may be on the hook.
If you’re still paying off a loan, make sure to work with your lender to ensure the title can be released upon complete sale so that you absolutely know you’re doing so legally. This way, you can avoid a nasty surprise later or go most of the way with a buyer only to be limited by this issue.
Skipping this step might seem like a shortcut, but it’s never worth the legal or financial risks.
- Being Cavalier With The Test Drive
Now, it’s customary to allow someone who wants to buy your car to drive it. Refusing this can be a red flag from their end, it’s like trying to sell a television without turning it on. That said, this is also here sellers can get careless. You want to offer a test drive, but not hand over the keys without much thought, which can leave you vulnerable.
We’d recommend that you arrange to meet in a public place, and consider bringing a friend along for added safety. You can check the buyer’s driver’s license before handing over the keys just in case, it’s a form of IDing them as a real person while also making sure they can actually drive legally of course. Of course, sitting in the car with them as they drive is also necessary. You can even film it if you want, just let them know you’re doing so for your own safety and will delete the file once all is done.
With this advice, we hope you can more easily avoid easy mistakes when selling you car.