How to Avoid Losing Money when Selling a Car

How to Avoid Losing Money when Selling a Car

Posted on February 25, 2022

If you are planning on selling your car there are several ways to go about it but more importantly, how do you avoid losing money when selling a car in Burlington?

Although some methods of selling a car will guarantee more money than others, still you can ensure you are getting your car's worth no matter what approach you give to selling.

Not every potential buyer knows your car's worth so it is your job to explain to them what you are selling.

It may be harder to avoid losing money when selling a car is if you choose to sell privately. However, there are steps to take and things to know for you to not get a bad deal. Here's how to avoid getting a bad deal when you sell your car.

Don’t waste time with buyers that are not serious

This is for when you are selling your car privately. You will get inquiries from people that are not serious buyers, this can be a major hold back.

After you must have spent your time taking care of your car and putting it in good condition, you don't want to waste time with people who are not interested in buying the car.

How to deal with time wasters

With the right  screening, you can protect yourself from time wasters and scammers. Certain specific questions can help you identify potential buyers from unserious ones.

Although there are simple questions, the secret is in the way they answer them. Some of these questions include:

• What is their full name?
• Where does the person stay?
• Do they want to see the vehicle?

Avoid getting scammed

You need to be sure you are not getting scammed. One of the ways you can get scammed is by falling for fake payment.

Scammers tend to fake payment forms or bills, they can also fake cheques.

Do not allow the buyer to take the car until you have confirmed their payment not just by seeing the cash but more importantly by verifying with your bank.

Avoid fraud claims after selling your car

You wouldn’t want your customer to come back to make a fraud claim against you because they are unsatisfied with the vehicle after all the stress you went through to successfully sell your car.

To avoid this, you need to create an “as-is” document, this confirms that you told the customer everything about the vehicle before you sold it.

Ensure you complete the change of ownership process

You mustn't relent until all the essential paperwork has been filled and signed. You simply do not want to be held responsible for any damage that happens after you have sold the car, this can happen when you fail to complete the change of ownership process.

This is known as post-sale liabilities, to avoid it both you and your customer need to take care of all the paperwork so you can be sure it is done properly.

Of course, you could avoid all this hassle by selling your car to our dealership. We’ll take care of everything and pay direct into your bank!

If you’re looking to sell your car, we’d love to buy it for a great price! Simply fill in the form below and we’ll get back to you ASAP! 

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