8 Steps to Help Protect Yourself When Selling A Car – 2020 Guide

The auto industry represents one of the biggest ones in the world, and we can see new models each year, with advanced functions and better quality. With the fast development of technology and mechanics, vehicles are becoming more efficient, stable, comfortable, and secure. Many people are changing their vehicles every few years. The demand for used vehicles is also great. Therefore, you should learn more about the important factors that can affect the price of the used vehicle you want to sell.

Source:blog.tred.com

There are various methods for selling a car, and one of the best is to sell it directly to a dealer company like carsome.my, where you will meet professionals who can provide you with the best price for your car. On the other hand, if you think that you could get a higher price by selling to over ads or other sources, you should be careful and pay attention to necessary documents, taxes, and other important things. By knowing more about the process of trading with used cars, you can protect yourself from a possible scam. Here are the most important steps that can protect you when selling a car.

1. Bring Friend or a Family Member with You

When you choose to sell your car by placing an advertisement on some websites or newspapers, you should know that many people would be able to see it, which can increase the risks for your safety. Going on a meeting with a person interested in your vehicle is much more secure when you are not alone. Also, you should choose your home or some public place for a meeting. Moreover, always let them know about your decision whether you want to sell the car to them or not, at the end of the meeting.

2. Don’t Share Your Personal Data

The main reason why websites and apps specialized for trading with vehicles are the best choice is because they can guarantee that no one will be able to use any of your private information. If you choose to place an ad by yourself, avoid providing more than just the most important things. You should avoid giving your private phone number and email address. Provide necessary info about yourself only after you are sure that you want to sell the car to that person.

3. Check-on The Potential Buyer

Source:ft.com

By asking some formal questions, you can save a lot of time to avoid meeting people who are not so interested in buying your car. On the other hand, there could be a situation where someone is calling you with intentions to scam you in some way. Therefore, you can make a thorough conversation over the phone and see how interested the person is. Moreover, you should ask the potential buyer for his name, address, payment terms, and more.

4. Be Honest

People who are selling used cars often know to present the vehicle in the best light, while the state of that car is not as great as they say. By being honest. you can avoid some legal actions from the buyer in case you lied about some functions of the vehicle. Therefore, present the car in the real state and inform potential buyers if there are any potential malfunctions or anything else in bad condition. The best solution is to find a mechanic who will impartially determine the condition of the vehicle.

5. Use Safety Precautions When Closing the Deal

After both buyer and seller set an agreement about the trade, you should find a proper way for the transaction of money. You should avoid personal checks unless it is a cashier’s check because you cannot have that one without funds on your bank account. Also, using an escrow account for vehicles is a great option, but you should look for a well-known service.

6. Remove Personal Stuff from the Vehicle After You Sell It

Source:carfromjapan.com

Before you hand over the keys to the new owner, be sure to remove all of your stuff from the car, especially private documentation or some valuable things. There are a lot of small sections where you could leave some important things like documents, records, money, pictures, and much more. The best way to be sure that you got everything out from the car is to clean every spot of it. This way, you will also show that you are a good seller by hanging over a clean and empty vehicle.

7. Keep A Paper Trail

You don’t need to worry about documentation related to the trade when you choose to sell your car to professional dealers, since they have enough experience to complete the trade in the best possible way. However, you should know how to handle papyrology when you are selling the car to a person. Learn more about legality and taxes related to the process. Both of you will have to complete some paperwork for making the trade legal. It is very important to save a copy of every signed document and prevent any issues that way.

8. Transfer The Title Along with the Car

Source:yourmechanic.com

You will have to check the law in your country and how titles on vehicles are regulated. In most cases, you will need to register the vehicle on the name of the buyer, pay a fee and taxes, and retitle the car. The buyer will also have to complete some papers and inform officials about the trade. Moreover, don’t forget to cancel the insurance for the vehicle.

Last Words

Selling the vehicle might seem like a simple process, especially when you use online platforms and professional services. However, there is always some space for possible fraud, and you should know about every possible method for scam and how to avoid it. The best way to protect yourself is never to give your private data, to have all necessary documents, and to keep a copy of a paper that proves the trade. Always speak with people over the phone before you decide to meet them personally because you could assume that someone is trying to scam you after you ask a few questions.

Leave a Reply

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.