Moneycontrol
Last Updated : Sep 25, 2018 09:37 AM IST | Source: Moneycontrol.com

5 tips to get a good online deal for selling pre-owned car

When the buyer comes to inspect the car insist on meeting at a public place and not an isolated place or at your home.

Moneycontrol Contributor @moneycontrolcom

Sunny Kataria

How do I sell my car immediately at the best price? This is a question in every car seller’s mind. Online classifieds are popular place to sell cars. High acceptability for pre-owned cars, easy discoverability are factors leading to increasing transactions in online marketplaces. Vehicle ownership cycle has reduced from seven years to four years and expected to reduce further to three years by 2020.

What we see is that a car’s value diminishes on an average by 25 percent every year. People are more conscious about the health of their car and generally list their car for sale anywhere between three-four years old. Besides, buyers on the platform are increasing year-on–year, there is also a growing societal acceptance of people buying a used car nowadays.

To help you sell your car at the best price, here are some simple tips you can follow:

Preparing the car: You can get a good deal for your car only if your car is in good condition. Buyers are willing to pay a good price for the car that they find to be spick and span. Check your car thoroughly for any damage and ensure it is fixed. Clean the car from inside and outside. Undertake repairs of any cracks, headlights, knobs, dents and especially under the hood components. Replenish all the fluids in the car and ensure that the car is delivery ready. You can get your car washed at a local garage and this will make your car stand out amongst the listings. Fix your air conditioning and put in an air freshener to make your car smell fresh.

Listing it properly: In order to attract maximum buyers, ensure that you have listed the car properly online and provided all the necessary information. Upload a minimum of four high-resolution pictures from different angles showcasing both the exterior and interior of the car. Indicate the car ownership duration and relevant information such as vehicle certification, insurance type and the total number of owners of the car.

Pricing it right: While selling your car, research adequately across car dealers and online platforms to arrive at a right price. Look for similar listings and make a note of the pricing. This will allow you to get a minimum, maximum and average price for your car. You could always quote a higher price for your car and gradually arrive at a reasonable price depending on your bargaining prowess. When bargaining with buyers, justify correctly the value given the condition of the car. If the car is well maintained then, you can command a justifiable price. You will get multiple buyer interests and queries on your car hence don’t be disheartened if you drive away some buyers.

Insurance, transfer and certification costs: If the car has an active insurance then you should get it transferred to the buyer. If the car has no insurance or if the insurance has expired then do state the same to the buyer. Do keep in mind that Indian law prevents a car being driven on Indian roads without a valid insurance. The car ownership can be transferred at a minimal cost and your local RTO can assist you through the same. Do keep in mind that your car needs to have all the certifications in place in order to command a good price - the primary of which being a NOC from your local pollution control board.

Safety tips to keep in mind: When the buyer comes to inspect the car insist on meeting at a public place and not an isolated place or at your home. Request the buyer to inspect the car in front of you and do not allow the buyer to take the car for a test drive without you being seated in it. When you take the payment from the buyer ensure that it is in cash or digital means and not as a post-dated cheque. If you accept a cheque then only transfer the documents after having cleared the amount. If the buyer is taking a financial assistance from a company then the company will guide you through the process especially with regards to getting the transfer done from RTO.

(The writer is Director, Vice President, Cars Category, OLX India)
First Published on Sep 25, 2018 09:25 am
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