Should You Trade Your Car or Sell it Privately?



Should You Trade Your Car or Sell it Privately?

You wouldn’t regret selling your car privately when comparing it to a trade-in value. The only time you should ideally opt for a trade-in is when you think the vehicle is old, worn out and would not serve any purpose to a buyer. But if you think your vehicle has been well maintained over the years, then it makes absolute sense to sell it to a buyer privately, considering that you could potentially get a better price. Here are a few things not to do when selling your vehicle:

Don’ts:

1. Avoid giving away personal information like the vehicle number or ID number as well as your personal details before finalizing the deal with the buyer. A genuine buyer would want to come and take a look at the car.


2. You may also want to avoid sharing images of the vehicle documents before making a deal.


3. Additionally, do not give the buyer documents or copies of the vehicle until you seal the deal. You don’t want to get yourself in trouble for being too nice.


4. Always make sure to sit in the car when the buyer takes the test-drive. Do not give the buyer the keys as they may drive off with the car for good. If you don’t feel too confident, have a friend or relative accompany you for the drive.


5. Never sell a car privately when you still have a credit loan against it. The bank may not give your buyer the credit to buy the car, in case he needs to.


6. Avoid hiding damaged areas of the vehicle. Be true and honest to the buyer and explain areas that may need a little touch-up. It would be great if you could get the work done yourself to increase the total value or worth of the car.


7. Avoid dealing with payment systems. You may want to understand that payments made through this method could always be reversed. One of the most common tricks is that the buyer makes the payment along with an additional amount. This is done so that you could reverse the amount. In this process, the buyer makes a request to have them reverse the original amount. This could get really scary and you don’t want to deal with this headache.


8. Do not think it’s always safe to trust the buyer. Get a background check done to understand where the buyer comes from, their financial situation and if they even want to buy a car.


9. Do not overprice the vehicle. Get to understand the actual value of the car by keeping in mind its condition, mileage and several other aspects. Stay genuine and price the car as per its worth. You don’t want to lose out on a potential customer for a reason as silly as this.


10. Do not advertise your vehicle over scam sites. Research and understand which websites would give you the best, decent deal. The last thing you want to be dealing with is a scammer.


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