The New Way of Selling an Old Car

Introduction

The used car market in India is booming rapidly with the introduction of new brands and models. You can find all types of vehicles under different segments in the second-hand car market. Selling a used car can be daunting, but with the right approach, you can attract qualified buyers who are ready to make a purchase. Here, we will explore effective strategies and tips to help you connect with potential buyers who are genuinely interested in your used car and how to sell it at its best value.There are several ways you can choose to sell your pre-owned car. The most common option is selling it the traditional way by contacting car dealers or spreading the word among your family and friends. These are mainly the old-school offline methods, which can be a more time-consuming and, in a way, an extremely tedious approach.However, you could use the digital platform by selling your pre-owned car online. Selling an old car online is a better option as you can reach out to maximum buyers, and the overall speed of the process is much faster than the traditional method. Let's go through the different ways to sell your second-hand car.

Step-by-Step Process of Selling a Pre-owned Car

Prepare the Car for Sale

: Once you have made up your mind to sell your car, the initial process is to ready your vehicle for sale. Get the car serviced, clean the interiors and repaint if necessary. The car should be in good condition and look appealing to the buyers. A vehicle in good condition will attract more genuine buyers, and the chances of you getting a good price are higher.

Keep Your Documents Ready

: Keep all the car-related paperwork such as registration certificate, car insurance documents, PUC (Pollution Under Control) certificate, and so on handy. Remember to include other documents such as the owner's manual, the battery's warranty card, and the car service history record. Good buyers will be mindful of the paperwork.

Set the Asking Price

: Once you have sorted out the documents, the next step is to set the selling price. It is an important decision and may require some research to find the best price for your old car. Get an idea about the selling price in the market for the make and model of your car. Ensure that the selling price is neither too high nor too low.

Create Ads that Help Sell

: Creating an informative ad is very important. It attracts genuine buyers who are looking for a car like yours. Create an advertisement in any of the online used car portals. Ensure that the ad has all the information, such as make or model, year of manufacturing, registration details, insurance details, mileage, reason for selling, asking price, etc. Do not neglect to add photographs of the vehicle since most buyers prefer to see a picture of the vehicle before seeing it in person.

Interact with Prospective Buyers

: It is crucial to screen and talk to callers and identify genuine buyers. Interact with potential buyers; simultaneously, feel free to close the deal. Explain all the details about your car and clear all the queries of the buyer calmly.

Set up a Test Drive

: Once you are done with the discussion part, it is time to set up a test drive for the buyer. Park your car in a clutter-free area when the buyer is visiting to inspect the vehicle. Accompany the buyer while test-driving the car and answer his/her queries regarding your used car's technical details.

Close the Deal

: Once the buyer is happy with your car, you can conclude the deal by coming to a mutual agreement on the asking price. If the buyer needs some time to arrange funds, you can negotiate for a reasonable initial payment. Also, mention the deadline within which the full payment has to be made.

Documentation and Payment

: After finalizing the deal, wait for the payment to be made by the buyer. Once the payment is made, hand over all the paperwork and complete all the necessary formalities. Ask the buyer to provide government-issued identity proof for safety. Remember that there are some documents that you need to keep. After clearing the documentation, hand over the car keys to the buyer.

After-Sale Guide

: Once you deliver the car to the buyer, there are specific tasks that you need to do as a seller. You need to inform the RTO about the transfer of ownership, submit the required documents, and collect the acknowledgement for the same. Inform the insurance company if the transfer of insurance coverage is also part of the deal. If not, you need to cancel the policy. In the end, ask the buyer to send you the updated Registration Certificate.

Documents Required for Selling a Second-Hand Car

Car Documents

• Car Registration Certificate
• Car Insurance Policy Document
• Pollution Under Control (PUC) Certificate
• Invoice of the vehicle
• Duplicate keys
• Owner's manual
• Insurance transfer application

Individual Documents

You need to submit self-attested copies of the following documents.

• PAN Card
• Address proof: Aadhar card, Voter ID card, Passport and so on
• Photographs

RTO-Related Documents/Forms

You can avail of the RTO forms online or offline. You need to submit the forms to the RTO.

• Three copies of Form 28: For obtaining No Objection Certificate.
• Two copies of Form 29: To claim all vehicle-related documents are handed over to the buyer.
• Two copies of Form 30: To inform the RTO that ownership needs to be transferred.
• Sale Affidavit: Agreement of transfer of liabilities of the car to the buyer.
• Clearance Certificate: An application form stating the vehicle is sold to the buyer and the buyer's details.

Conclusion:

In this blog, we have discussed the pre-owned car market in India and how it has taken over the hearts of car enthusiasts. We have also been provided a few tips and tricks to keep in mind while selling our used car. The above-given information is a product of our research and analysis. In case you have any other points that can be added to the list of information available above, please mention them in the comments section. Be smart, and make smart choices.