Car trading

Understanding car trading

It is really a good idea to sell your car through a person who has specialized in this stream rather than you selling it. The result is peacefulness. The hassles of giving ad in the classifieds paper, waiting for that phone call from your potential buyer, time for visiting to check the cars condition and the final episode of price negotiation all these are gone with the wind.

When you agree to sell your car through a second hand car dealer, all you need is a mutual understanding on the price of the car, thats all. Its done for ever.

The other side of car trading

At the same time the secondhand car trading dealer will take your not so-good-in-shape car also. And he will negotiate with you and you may end up getting less money. But not minding the huge time invested, if you do the job on your own, you will end up getting few hundred dollars more. Its worth it! There is a sentimental angle to this whole drama. Eventually you will be giving it to a person who is going to be the new owner after analyzing his psychological, social and cultural background. You can lie down in your sofa like a proud father having done the marriage of his daughter.

The How of car trading

You should know the worth of your car. What will be its current price How to decide this. Take a note of its model and check with the book called Kelley blue book or with national automobile dealer associations gold book. You will get the rate details of old cars from the year 1984 to present date. Take a copy of this book page where your model is featuring. Take it to the second hand car selling outlet and while negotiating for the price, make them understand you already know the price of your car. Also check the total running kilometers of the car, how many miles it will run for certain amount of gas. The present vehicle state and any other accessories you have fixed in the car. After considering all these, tell about the positive aspects of the car. Dont speak ill of your car, at the same time if he wants any details about the defects dont tell lies.

Pre sale preparations

When you are selling the car on your own you have to prepare your car for the buyer to get impressed. You can it to a professional cleaning person or do it yourself. When you are cleaning the car by yourself, make sure you clean on the important places like below the bonnet, boot space, doors and handles. If possible you can also change the mats with a new set. Use a spray to give a good smell inside the car. Make sure the oils and fuels are up to the mark. Give your car a shampoo wash and make it glitter outside and great inside. Be sure to get the service record of your car trading intact so that the buyer checks it for his satisfaction that the car has been well taken care.

You are the owner- act like that

While selling your car, most people want to shy away responsibilities. But if you want a good price you need to be there around for the questions that may be asked by the buyers. You should definitely be in proper attire for the occasion. Your dress has to show that you are a responsible person. Try and know some terminologies about your car. Make sure you have all the details about your car available readily. The buyer will ask for the details of the car, present the answers with some records. The final part is the test drive. Make sure you drive down along with them so that you can share information. Check with them they have proper driving license.

The price Negotiation

Now you have come to the final part of the game. Make sure your price is on par with the current market price of the model you own. You will get the current trend by referring Kelly blue book or NADA listings. Also go through various sites which deal with this mater. Some sites even offer a detailed rate report with a certificate for a minimal rate. Make sure you coat your price after adding the necessary price for the extra fittings you have done in your car. May be you would fixed a sound system with graphic equalizer which was not from the manufacturer. When the buyer asks for the justification make sure you work out all this if he is not satisfied. Consider the following while arriving at the price. Mileage, model, condition of the car, accessories and replaced parts. If you had recently paid your car insurance add that too. Have proofs for all these, so that you can justify your asking price.

Final moment- close

Now the penultimate step has come. Check with your buyer how he wants to pay. If you have taken some safe steps in arriving at the price, make sure the buyer starts the price negotiation. Never allow him to cross the line which you have put for a minimum guarantee price. Once the amount is finalized, is it going to all cash deal or bankers check or from a loan issuing company After the payment is made hand him over all the documents belong to you car. Make sure you follow all the state authorities procedures.

Some states insist on both the parties signing up during a transfer of ownership. Make necessary documents from your side and get the buyers sign accepting the sale for your records. It is natural to hand over the duplicate keys of the car to buyer. No sentiments please.

Beware of the traps

The major issue here is the settlement of the cash. Dont go by later date payment. This is a major trap. If you know the person buying your car, well then the risk involved here is less. If the buyer gives you a check make sure you collect the cash from the bank before handing over the keys. Never accept the payment as installments. Once the car trading is with the buyer you dont have any bindings on the payment. If the buyer wants to pay through a loan go with him to his bank authorities and clear all the documentation and collect a cashiers check from the bank.

What next

Get your buyers full address for any future reference. Pat yourself for having come out successful after all these workouts. If you dont want all these hassles, then the best way out is to hand over the car to a second hand car trading dealer and get your money. Go and buy a new car of your dreams.

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