With many vehicles made, the second-hand car market is booming in India. People are graduating from two-wheelers to four-wheeler vehicles, and those with four-wheelers are looking to upgrade their style. If you’re planning to sell your used car, this is perhaps the best time to do so.
There are two most prominent ways to sell second-hand cars in India.
- Sell It the Traditional Way
The traditional method involves placing an advertisement in the newspapers, informing the local car dealers, sticking a ‘For Sale’ sign on your car, putting leaflets, etc. All these comprise the traditional method of selling used cars.
- Sell it the modern way
Putting an advertisement on online free classified portals, harnessing the power of social media or availing of second-hand car buying services are some of the modern ways to sell your vehicle.
While many still rely on the traditional route, it can be more tedious and time-consuming. Therefore, we recommend a more modern approach to selling cars in India and quickly reaching out to the maximum number of prospective buyers. And, if you’re under the impression that the modern way of selling an old car is difficult, our guide will help change your opinion.
2 Key Ways Of Selling Used Cars In A Modern Way Are:
Listing in an online classified portal
This has been quite an in-trend recently. Some reputable and trustworthy online car-selling platforms allow you to upload your vehicle details and wait for the buyers to connect with you.
These platforms make the process hassle-free and quick, with a completely reliable and transparent car-selling process. A vast network of buyers and sellers makes selling your second-hand car easy.
Spread the word across the various social media platforms
Social media is a powerful tool to promote almost anything. There are several groups on Facebook, Instagram, etc., where you can upload your car details and expect to get some potential leads.
But before doing any of it, you must follow a few key things to get the best results.
Step By Step Process of Selling a Used Car
Prepare the car
Once you’ve decided to sell your vehicle, it’s time you prepare it for sale. Take your car for servicing and repaint if necessary. The car should look appealing. A second-hand car in excellent condition will attract more buyers, and you might even get a higher price.
Gather the documents
Instead of a last-minute hurry, gather all the car-related paperwork in advance. A buyer will always check your car’s verified documents before paying. So, it is better to sort them out on time.
Set the right price
This is an important step and might require a little bit of research. Look for other similar models and find your car’s best price. Put a price that is reasonable enough to resonate with the buyers quickly.
After you put up the Ads online, you will receive calls and queries. It is crucial to identify genuinely interested buyers. Do not be too aggressive to close the deal or too idle. Identify the right buyer and explain the car details to resolve the buyer’s queries.
Assuming that you have found the right buyer and confirmed the deal, the next step is the payment which is the most important part of selling a car. But, the seller often needs to catch up on a few crucial steps to ensure safety. Here is a list of all the must-do things a car seller must do.
- Wait to hand over the vehicle or the documents before you receive the cheque or demand draft. You should sign and transfer the papers only after you receive the full payment.
- Always ask the buyer for a copy of their government-provided ID and address proof. For example, a passport, driving license or any other similar document.
- You should either fill in or write NA (if not applicable) on every form issued by the RTO. Both the parties (buyer & seller) must put their signature on the forms.
These are the various steps a seller must follow to sell a used car in India. But that’s not all. A seller has a few more steps to follow even after the completion of the sale.
They must not neglect the additional work thinking these are unimportant. After all, it ensures security.
Notify the RTO:
The law says any incident or accident will be your responsibility till the car remains under your name. To avoid such scenarios, inform the RTO about the transfer within 14 days of the sale.
Send copies of all the documents, and only when you receive their delivery acknowledgement can you be indemnified from any liability associated with the sold car.
Get the buyer’s updated RC:
Ask the buyer to send a copy of his updated RC book. This may take a while, but you must follow up consistently. Keep a copy along with other car-related documents with you.
Many of us think that selling a car is a process full of hassles. But have you ever thought that the owner could actually simplify it by following some simple steps? If you’re selling your used car for urgent funds, it is best to list it on a free classified portal for maximum reach while following the simple rules mentioned above.