The good thing about buying a car is that you can sell it at a later date to potentially reduce the cost of buying new one. But the truth is that this takes a good deal of effort to achieve. That’s not to say it’s out of your grasp of course, it just takes a little planning and management to get right, and to achieve the best price from the sale with a reliable buyer, ultimately the best outcome you can hope for.
For this reason, there are a few methods you can use to prepare your potential sale and make sure the person buying it from you is as legitimate as you are. Consider the following:
Sell Your First Car In A Public, Safe Area
When you’re selling anything to anyone, doing so in full view of the public, in a well-lit area, and preferably in an area that they can’t steal from you is important. Bring someone with you if you can. Somewhere like a supermarket parking lot during the day or a designated safe exchange zone might work well. These spots are public, often busy for the most part, and also have cameras around for some peace of mind.
Take Cash Or Proven Bank Transfer & Check It
Beware of chargebacks and false fraud alerts from people paying. Before you begin transferring a car title, especially if you’re going to sell your first car for a previous owner whos name may still be on it (like a lost relative), it’s best to stick to methods that are easy to verify. Cash is simple but should always be counted in front of both parties and the counterfeit signals should be checked, you can find these easily enough online per your currency. If the buyer prefers a bank transfer, double-check that the funds have arrived in your account before handing over the keys. To protect against any fraud accusations against you, make sure to:
Document The Process
Writing up a simple receipt with the car’s details, sale price, and the date, signed by both of you, is a good idea. You might even ask for a selfie video to confirm that you’re both happy with the sale with a smile. It’s a simple way to prove yourself against any issues later on.
Depending on where you live, you might need to inform the local vehicle authority that the car is no longer yours too. You don’t want a parking ticket to arrive on your doorstep because of outdated systems.
Have All Documents Handy
Anyone who buys a car is going to be nervous that all the paperwork is above board. So as a seller, it’s customary to have this on hand. This includes the car’s title, service records, and anything else that shows the car’s history and can prove your ownership. Having these ready shows you’re organized and serious about the sale, and they’ll appreciate that. If something’s missing, sorting it out beforehand might save a lot of frustrating conversations too.
With this advice, we hope you can more easily sell your first car with confidence!
