How can I sell my car fast?

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kingr
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How can I sell my car fast?

Post by kingr »

Everyone reaches the point when they ask themselves “Is it time to sell my car?” Whether it’s because the old one has reached a point where maintenance costs are skyrocketing, or maybe it’s just time for a change? Either way, every seller is looking for an honest, paying customer who’ll pay a fair price, and for the deal to go as smoothly as possible. Remember, buying a car is much easier than selling one because when buying, there are almost unlimited options, as well as prices to suit any pocket. Selling, however, is entirely different. The seller has to find someone who's looking for the exact car that they own and minor things like having an unpopular colour, or an unpopular specification level can be the difference between making or breaking a sale.

When it's time to sell my car, there are several options to choose from. If I couldn't be bothered with all the fuss, I'll take it to a local dealer for a trade-in value or outright purchase price. Another option is to park and sell my car, typically in a local lot or on consignment at a dealership. This isn't a bad route for many who have time to wait for their price, but remember that those park and sell lots won't take an active interest in keeping the car clean and presentable.

Savvy car owners can also sell their car through Wheel Index, and they are posting great prices and turnaround times. The final option is to advertise and sell my car myself. The route chosen often depends on whether I need to settle outstanding finance or need the money to buy another car. If I’m going to sell my car fast privately, I have to follow these steps to make the process logical, thorough and pleasant too.

An often forgotten step on how to sell a car fast is by making the correct decision when buying the car in the first place. When buying any car, it's worth researching the demand for the particular vehicle, as well as the expected depreciation rate. It's also worth checking out what the market trends are because at the end of the day, selling any commodity is about supply and demand. An example would be the choice between buying a brand new Peugeot 3008 SUV, which starts at R378 900 or buying a new Nissan X-trail, which starts at R397 900. Both cars are in a similar bracket, and while the Peugeot may tick all my boxes, it will be challenging to get a reasonable price for it compared to the Nissan because the demand for the Peugeot isn't as high compared to Nissan cars. Buying a car that will be in demand in the foreseeable future is the first step to selling my car fast.

Here are the most common options when selling my car.

Taking the car to a dealer
Taking the car to a dealer can be one of the easiest methods of selling my car fast and efficiently. There's no looking for a buyer, as the dealer is ready to pay, or maybe offer a trade-in to sweeten the deal. They are usually familiar with the paperwork procedures and have everything in place to take the car immediately without going to the bank for finance etc. The downside of taking my car to a dealer is that they are in business to make a profit, and will only offer the “trade-in value” which means that I will get a lower price for my car because they will still have to put a mark-up before selling it to the next buyer. Depending on the car and the prices offered, the difference between the trade-in value and the retail price can be huge. For some people, the lower price is worth the convenience of getting rid of the car without any hassles, but for others, they need the best price possible because they probably want to finance their next car and can't afford to take a hit.

Pros of selling to a dealer

Convenience – Dealers buy and sell cars all day and have in-depth knowledge of the sales procedures. They are knowledgeable when it comes to paperwork, and probably have the required paperwork at hand.

Less Risk – When selling to a dealership, there’s less chance of fraud because the dealer has a reputation to uphold and probably have the money to buy the car. Selling privately can lead to con artists who are out to trap sellers out there.

Speed – Go to the dealer, agree on a price, and sell my car. No posting adverts and waiting for potential buyers. No phone calls, and best of all, no waiting for payment as its normally done on the same day.

Ability to Trade-in – Quite often it’s possible to do a deal to trade in the old car for a new one without having the stress of finding a buyer for the old car then looking for a new car. With everything done in one place, I can walk away with my new car almost immediately.

Cons of selling to a dealer

Price – Price is the main reason why it can be better to sell my car privately. Since the dealer will still need to add a mark-up, they will offer a trade-in value, which can be far less than what I’d get if I sold my car privately.

The car must be in demand – Dealers will generally buy cars that are in demand and cars that are in a specific condition. If my car doesn't meet those parameters, I could be offered an even lower price, and in some cases, the dealer may refuse to buy the car because it will be hard for them to sell later.

Trade-in Trouble – When doing a trade-in, some of the bargaining power can be lost, and I can find myself getting less when I sell my car and also paying more than necessary for my new car.

Related: 5 Reasons a Car Dealership Offers You A Low Trade-in Value

Selling a Car Privately
The obvious benefit of selling my car privately is getting a better price than selling it to a dealership. However, there's more effort required when I sell my car this way, as well as more things that can go wrong.

Pros of selling privately

Price – I decide how much I want to sell my car for, and in most cases, it will be higher than what the dealer is offering.

No Requirements – Depending on the type of car, the mileage, or the condition of the car, a dealer, may either offer a low price or refuse to take it altogether. When I'm selling my car, the condition can be bad, but I might still find a buyer, depending on the price of course.

Cons of selling Privately

Time – It can often take longer to sell the car because I have to wait for a buyer who wants the same car that I have, in the same colour, and is willing to pay my asking price. There is also competition from other sellers out there.

Extra Costs – There are often extra costs associated when I want to sell my car privately like the costs of taking out an advert, making calls to prospective customers, driving to meet prospective customers. These things cost money, and if I can’t sell my car fast, then it will cost me more money.

Security – There are people out there looking for unwary sellers to scam, and it can be dangerous meeting strangers who might, or might not be looking to rob me. Even if I’m trying to sell my car fast, I won’t let me guard down to make a quick buck.

Inconvenience – It can be inconvenient trying to figure out what paperwork needs to be filled in, as well as what steps to follow. There’s also the effort of arranging viewing times etc. Selling my car online can prevent these problems.

Selling your car online with Wheel Index
Wheel Index tries to offer the best of both worlds, a fast and efficient sale, while still getting the seller a fair price. Sellers can get realistic values for their car, as well as offers from multiple dealerships from the comfort of their home and make their selling experience as simple as possible. Selling the car is 100% free for sellers and removes the risk of meeting dodgy prospective buyers, or wondering whether they have enough money. Payment is quick, and even financed cars are welcome. It’s a place where I can sell my car online and fast with minimum fuss.

Pros of selling with Wheel Index

Convenience – All I need to do is upload my details, and a network of dealers will make offers to me. I can sell my car online without even making a phone call.

Safety – There’s no meeting shady people, or arranging meetings after hours. Everything is done online and with trusted companies, which is one of the most significant benefits of selling my car online.

Fairness - I will be offered a fair price for my vehicle and both myself and buyer benefit from a great deal.

Free – The service is 100% free for me, so there is absolutely nothing to lose. Being able to sell my car online and without paying anything is a huge bonus.


Cons of dealing with Wheel Index

Internet connection required – An internet connection is required to upload the relevant information and documents. Other than that it's more convenient, safer, and doesn't cost anything for me. It couldn’t be easier to sell my car online.

Related: Understanding Vehicle Trade and Retail values

There are several factors to help me make a decision on which option is best when I’m trying to sell my car fast, and because sellers have different priorities, there's no clear cut way, and every option has its pros and cons.

1. Know how much my car is worth
A good starting point when I sell my car is to educate myself on the real market value of my car. I need to know what people are willing to pay for my car in the market right now, given the mileage, condition, consumer demand and my location. I always start with a car valuation to get a legitimate value on my car to contextualise my understanding and expectations. I can also call a dealership and request the book value of my car, as most will share this over the phone. In my experience, a good guideline if I want to sell my car fast privately is to set a price slightly above the trade-in value of my car, as this will make my price competitive enough to attract private car buyers. It also allows me to mostly avoid competing with car dealerships on the price for my car. Whether I sell my car online, or in person, I'll rarely get the full retail price. These days there are online car valuation tools to make the whole process of finding the correct values easy and convenient.

Related: How accurate is the Wheel Index car value calculator?

2. Have all my “car admin” in order
I make sure I have the vehicle registration certificate in my possession if the car is not currently financed with a bank. If I sell a car that is still subject to a finance agreement, a “settlement letter” from the bank will be sufficient to prove that I’m the owner of the car. The bank will be listed as the title holder on the registration certificate.
Service book. I also have the car’s service book ready for viewing by potential buyers. I also check that all the services for my car have been stamped in the book. Some car manufacturers in South Africa, like Audi and BMW, have transitioned to digital records of service histories. In this case, giving a dealership my car’s VIN number can glean a swift electronic copy.
Spare keys. I ensure that it present when showing my car to potential buyers. Car keys on particularly modern and luxury cars are expensive and not having one negatively affects my car’s value.

3. Check that my licence disk is still valid
I make sure the licence disk hasn't expired and if any renewal costs are looming when before I sell my car, and get that sorted before or together with placing an ad.

4. Clean and prepare your car for photos
When I sell my car online or not, the presentation is imperative, and dusty and dirty translate into lower prices. I valet the car if I can, and remember that two things count a lot: the way a buyer feels approaching and looking at your car and the way they feel when they sit in it for the first time. If I want to sell my car fast, an excellent first impression is a must.
I remove personal items. Before taking pictures and while showing the car, I remove personal items that might clash with any prospective buyer that comes along. This is just more housekeeping when I sell my car, and an attempt to present the car as professionally as possible.

5. Take good, clear photos of my car
After my car is cleaned and ready for photos, an excellent time to take photos is either early morning or late afternoon, when the sun's reflection off my car is minimal. I straighten the front wheels, close the doors and roll up the windows. I take photos from the front-left of your car and walk around the car to capture all other angles. It’s best to take photos of the wheels and any unique features of my car, like a sunroof, tow-bar or canopy. To sell my car fast, I take pictures of the interior, driver seat, dashboard and rear seats. I can also snap a few photos of unique features, like electric seats, an automatic transmission, a digital instrument cluster or any extras that have been fitted.

Related: How to create an attractive car ad

6. Try to fix the issues my car may have
This may sound like a no-brainer, but it's essential to fix any little problems here and there to get the best price possible. The worst thing a prospective buyer can see is dents and scratches everywhere and oil leaking around the engine area. It reflects poorly on me and decreases the buyer's confidence that the car is in good order. Of course, if the car is being sold "as is" then I'm upfront and honest about any issues that the car has.

7. Decide where to advertise my car
If I want to sell my car fast, online advertising is the easiest way to reach a huge audience of potential car buyers in South Africa. I can upload your car to free advertising platforms, but I’m aware of potential scammers as they constantly lurk around these websites for new victims to scam out of their car, and money. To sell my car fast, I can also upload to paid advertising platforms like cars.co.za, wheelindex.co.za, and autotrader.co.za. These websites have a large following, and my car advert will definitely be viewed by potential buyers.

Another online option I can explore is uploading my car to an online forum. It’s even better if I can upload it to a forum specific to my car brand. These forums are for die-hard car enthusiasts, the best kind of people to notify when selling a car! Most of these forums will require a minimum post count as a member before I will be able to upload your car in the "for sale" section. Here's a list of some of the more popular online car forums VW Club SA, BMW Fanatics, Audi Forum and Ford ST-Owners.

8. Write a great description for my car advert
The photos of my car should say a 1000 words, but I still need to write a good and precise description If I want to sell my car fast. I always follow the list below to make sure I’m describing my car correctly.

I list the make, year and model of my car accurately. Is my car model a C180 or a C200? I state the correct model to avoid any confusion or the annoyance of answering phone calls from buyers asking what model and year my car might be.
Clearly, state the correct, current mileage of the car.
I mention the service history in my description. FSH stands for "full-service history" from a dealership. If I don't have a full-service history from a car dealership, I can still share any other maintenance work I’ve carried out on the car.
If my car is still under a maintenance plan, I mention this and state when the maintenance will expire, at what mileage.
If my car has any warranty, I clearly state the type of warranty (aftermarket or dealership) and also when it will expire.
Manual or automatic? I State the correct transmission type in my advert.
I also list all the extras that have been fitted to my car, and factory and any other aftermarket extras I may have added.

Related: 5 reasons why people struggle to sell a car privately

9. Arranging viewings with potential buyers
I want to sell my car fast, and I’ve had a few bites on my advert. After sifting through some chancers, I agree to meet a potential buyer of your car. I don’t like meeting buyers at my house unless I really have to. I preferably show my car when I’m not alone, and during daylight hours. Shopping malls and McDonald’s parking lots are perfectly acceptable venues to meet and show a car.

I never meet someone at a location I’m not comfortable with. Worst case scenario, unknown locations that make me nervous can be opportunities for someone to hijack my car, leaving me with no car and no money in the bank either. Crooks love to bend desperate sellers to line them up for a big, fat sucker punch.

10. Test driving with potential buyers
Before even considering the prospect of allowing someone to test drive my car, I have to first confirm that the potential buyer can afford to buy my car. If my potential buyer plans to get bank finance, then they can present me with their approved car finance offer from the bank. If it's a cash deal, it makes things trickier. Electronic transactions are safer than cash-on-hand, but I'm also cautious when giving out my banking details. If I accept an EFT, I log in and transact with the money a little to confirm legitimacy.

Also, when I sell my car, I check that the potential buyer has a valid driver’s licence and that they are who they say they are, leading up to my meeting. It’s critical that I go along for the test drive. This allows for two things: firstly that I ensure nothing untoward happens to my car while my buyer is behind the wheel and, secondly, I’m on hand to answer any questions that may pop up as the drive unfolds. As an extra security measure, I ask a friend or relative to come along for the test drive.

Related: Selling a car privately? What to keep in mind for test drives

Take the money for my car sale
It's advisable to sign a basic sale agreement when I sell my car online or not, as this document can be used as a reference whenever in the future I might need it. The sale agreement can be basic and say that Part A hereby sells [car details] to Party B [with both party's details listed - see below] for X amount. Both parties sign and a witness would ideally sign too. If at all possible, I keep a copy of the buyer's ID too.

Sale agreement details

Name and surname
Address [use proof of address]
Email
Contact number
ID number [validated by viewing a legitimate card or document]
Car description
Car price
Car VIN
Any special sale conditions
Signatures of the buyer and seller
Related: Buying/selling a car under SA consumer legislation

I take payment for my car and never part with it until I (and the bank if needs be) have been paid in full, by either cash or an EFT. If the car I’m selling is still financed, I can obtain the settlement letter from my bank. This letter will state the amount, bank account and reference number that should be used to settle my outstanding car finance. The potential buyer can settle the finance directly with the bank or pay me the settlement which I can then pay over to the bank. If there is a shortfall amount paid to settle the bank finance, I will be liable to settle this amount with the bank, failing which they won’t allow the sale.

Related: Can you sell a car that's still under finance?

After receiving the payment for my car, it's officially sold, and I can hand it over along with my:

Registration document (if not financed)
Service book
Receipt of payment copy
Spare keys
Any other accessories that were included in the deal.
Selling a car privately 1

Cancel your car insurance
I don't forget to cancel my car insurance and notify my insurance company that I've sold my car, and they will remove it from my policy. It's a bit of a fiddle at times, as there is usually a waiting period of 30 days and I don't know when exactly I'll sell the car, making premature cancellation difficult. Ideally, since strangers will be driving my car, I'd rather cancel insurance after the deal is done, and bite the bullet on an additional premium for peace of mind.

I submit my copy of the change of ownership yellow form at the traffic department. Yellow change of ownership forms must be filled out in duplicate and signed by both parties. Both parties need to submit their copies at the department. The notification of change of ownership (NCO) is the official document used to transfer ownership of a car in South Africa. The "yellow form" is essential and will protect me after I sell my car from any future traffic fines, while the buyer transfers the car to his/her name. The form must be submitted to the motor vehicle registering authority with a copy of the seller’s ID, the buyer’s ID and the buyer’s proof of address.

Registration and licensing by the new owner Now that my car is sold it’s the buyer's responsibility to register the car in their name and obtain a new licence disk. They will complete the "blue form" (Application for Registration and Licensing of a Motor Vehicle) to do this and will need a valid roadworthy certificate to get a new licence disk.
Kurt #3337

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