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Things to Consider While Selling a Car


Selling a car is easier said than done. If you are planning to sell your car, you will realise that selling a car is not like furniture of sale; you need to keep various things in mind before you put up your car for sale. Selling your car through a dealer or privately is not as easy as it may sound. Here are a few things you need to consider before you make a decision.

Documentation

Most importantly, you need to decide whether you have all the paperwork in line or not. In case of a loan on the car, you will have to estimate the exact amount of payoff. The buyer will have to write one check for the purchase of the vehicle and the other one to the bank for the balance payout. In case of no loan on the car, it is best to consider where the title is. The title is of crucial importance because it is proof of ownership. You will be required to have all the documents related to the car including the Registration Certificate (RC) book, Pollution Under Control (PUC) Certificate, and insurance copy. You will only be able to find a buyer for your car if you have the documentation in place.

Condition

Once you put the paperwork in place, you will be required to access the state of the vehicle. Many sellers try to sell their truck with old tires, broken power windows, and significant scrapes or dents. Most buyers will avoid buying such a car. Hence, you might have to spend a little money to recondition the vehicle for sale. Address the obvious issues and try to get the dents taken out. If the car looks damaged from the outside, no buyer will show interest in taking a test drive to check the condition from the inside.

Insurance

It is mandatory in India for every car owner to have insurance for the car. If you do not have insurance for your car, you might want to buy car insurance online before you put it up for sale. When your vehicle is insured, it will fetch you a higher price from the buyer. Comprehensive car insurance ensures that the car is covered against third-party liabilities along with the safety of the owner/driver. It is possible to transfer the car insurance policy in the name of the new owner from the original owner, or you can buy a new system. If you are buying new car insurance, you can use the car insurance calculator to estimate the premium amount you will be liable to pay. The calculator is available online and is easy-to-use.

Time

The time commitment is an important aspect of selling a car. You might not be able to sell the car overnight and will have to show the car to different buyers. You need to allow them to take the car on a test ride and negotiate a price. This means you will be required to set aside some time for the sale of the car.

Keep these points in mind before you make up your mind to sell the car. You also need to remember that you might not be able to get the exact price that you want for your car, hence, keep an open mind and be ready for negotiations.

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