Are you thinking of buying a new car which you will partially finance with the sale of your old car? A lot of car buyers do so because they feel they can get better deals than the ones that showrooms offer them in exchange of their old vehicles. There are quite a few cautions that you must exercise when selling used cars in Bangalore. You will get a lot of buyers who will offer handsome prices for your old car. However, you need to go about it in the following way.
Selling your car by yourself
You should sell your car by yourself for getting the best price possible. Private sales almost always generate maximum remuneration. Agents usually command high brokerage fees which are almost 2 percent of selling price whereas dealers offer a lower price to you, only to sell their car at a higher price for generating more profit. It has been estimated that you can earn almost 15 percent more by selling your car individually rather than through a dealer or agency.
To advertise the sale of used cars in Bangalore, you should put up posts on online classifieds on Quikr.com. Make sure you introduce as many photos as possible from different sides. Include as much information about your car as possible. You should highlight your car’s advantage but not exaggerate about it. Some of the aspects that you can highlight are mileage of the car, single ownership, original painting, accident free running and garaged parking. You should list your cell phone number on the ad for buyers to contact you directly.
Prior to setting the price, research in to the market to find out the prevailing rates for your vehicle. You can use the online price calculator that is available to calculate the car’s true price. Simply enter the model, numbers of kilometres covered, trim, age and mileage for used cars in Bangalore and the site will come up with the best results. You should not price your car too low as you would lose good amounts of profit. Instead, keep the price a little higher because it leaves room for you to profit even if the buyer negotiates with the price. Go the American way for pricing your car. Instead of writing the price as Rs 5 lakhs, write it as Rs 4.99 lakhs- it has been proven to be more effective.
Preparing the Car
There is an old adage that says first impressions are the lasting ones which is why you should keep your car in top-notch condition when buyers come to see it. Neat cars always sell quicker and fetch more money. Clean your car inside out including under the hood and boot, refill all fluids such as engine oil, gear oil and brake fluid and top up a new air freshener. Get your car washed at a professional cleaning place. You should also consider getting the car waxed as it would make the paint shine better. Smaller parts which are inexpensive to be replaced such as torn upholstery, blown fuses, broken lamps and damaged sun films must be gotten rid of. You may have to spend Rs 1000-2000 on bringing the car up to delivery condition, but it would be better for used cars for sale in Bangalore in the market.
Keeping the documents ready
Having your car’s documents at hand is a good idea because buyers would want to review them before putting down a deposit. Your car’s full service history must be organized into a file neatly. Buyers are usually interested to pay more for a documented service history. You can also include miscellaneous items such as PUC certificates and a battery warranty card which is valid.
You can actually make soft copies of the documents and keep them in your mail. Whenever a buyer requests them, you can send them over. Other documents which you should have ready are city/state registrations and month and year of manufacture.
There are some reasons for which you must have pat answers such as the numbers and names of fitted accessories, why you are selling used cars in Bangalore, color, type of insurance (third party/comprehensive) and its validity. When you interact with buyers, you should not be too aggressive or appear keen to sell. However, you must be spot on.
Retaining your patience while selling your car
Buying a car is a major decision and hence you may actually receive a lot of enquiries from interested buyers who do not follow up with you. There may be many enquiries directed by time passers. You must be able to balance your time and concentrate on genuine enquiries. Interact extensively over email or phone to determine who is a genuine or fake buyer.
Dealing with Buyers
In case you have a buyer who is pursuing you for some time for used cars in Bangalore, it is only natural that you will show your car. You should have them come to your workplace instead of home. You may also meet at public places which are mid-way. Insist upon punctuality from your potential buyer and be punctual yourself.
Do not allow your potential buyer to take your car for test-driving it alone. You should always go along with the buyer on test drives. Buyers would want to get the vehicle evaluated by mechanics whom they have appointed or at authorized service stations. It is a reasonable request to keep and shows that the buyer is interested in the car genuinely. You should request the buyer to bring the mechanic to your office for an inspection or fix upon a garage which is near your office.
If your buyer is interested in your car but needs some time to arrange the finance, you can accept a token booking amount of Rs 20,000 to Rs 30,000. You should clearly define a timeline by which the car’s full payment shall be made, failing which the deposited amount shall be forfeited to you. Usually sellers set a timeline of 7 to 10 days.
Lastly, do not be in haste to sell used cars in Bangalore. Take time to consider a particular deal before taking it up.