Selling your Car
Turning your beloved car into cash can be a tricky process. Following this Key Post will hopefully minimise many of the major hassles and headaches and eliminate the smaller ones.
This simple guide is based on a couple of assumptions :
Pricing your Car:
Making sure you get paid when selling your car:
Turning your beloved car into cash can be a tricky process. Following this Key Post will hopefully minimise many of the major hassles and headaches and eliminate the smaller ones.
This simple guide is based on a couple of assumptions :
- The car is registered in your name
- You have no finance outstanding on the car (HP, personal loan, lease-purchase, etc.)
- The car is Irish-registered and all relevant import-duties, VRT, etc. are already paid.
- The car is not being sold for export
Pricing your Car:
- As it is a private sale, your car will need to be priced attractively for prospective purchasers; in other words it will usually have to be priced lower than the equivalent car on a dealer forecourt.
- There are plenty of websites that can give you ball-park valuations for the make, model, year, condition and mileage of your car. Remember these are sellers’ asking prices and use the information you gather realistically. If the car has a current lengthy NCT and some tax it will be a more attractive purchase than otherwise. Similarly if you’ve just fitted new tyres or completed a major scheduled service remember to include this information in your pricing calculations and your advertising pitch.
- Set yourself a bottom line price and don’t be tempted to go below it.
- The RF101 / Logbook (Registration Certificate) is the official document that records the Registered Owner of your car and the car's "identity", including VIN, engine number and registration number. Make sure you have it and that your details and the car’s are correct. Remember you cannot sell the car without it.
- Cars sold before January 1, 1993 will have a single document called the Logbook.
- Cars sold between January 1993 and May 2004 will have a Registration Certificate and a Licensing Certificate.
- Cars sold after May 2004 will have a single document called a Registration Certificate (RF101)
- Make sure the NCT disc (if applicable) is on the windscreen and that you have the actual certificate to pass on to the new owner.
- Make sure you have the User Manual and the Maintenance Schedule / Booklet in the glove-box.
- If you want to advertise the car as having a Full Service History (FSH) make sure you have the invoices and other paperwork corresponding with the garage stamps in the Maintenance Schedule / Booklet.
- You car will only get one shot at making that all important first impression, so make sure it is clean inside and out, that the windows and body gleam and that it smells good inside. If you don't want to clean the car yourself then have it professionally valeted.
- Take out any clutter from the seats, door-pockets, glove-box, centre arm-rest, sun-visors, etc.
- Empty the boot of clutter, clean it out and check that the spare-wheel (if supplied) is at the correct pressure and that all the tools and other accessories are present in the tool-kit.
- Check that all the tyre pressures are correct and that all the interior and exterior lights work; replace any blown bulbs inside or out
- Locate the spare ignition / master key(s) and the codes for the stereo or after-market security system, if applicable.
- Decide which options suit you and are likely to be used by potential purchasers; online, in classified or specialist car sites, a national paper, local free sheet, specialist car magazine or a card on the community notice-board in the local supermarket. There may be little point in advertising your 2009 Bugatti Veyron on a 3x5 card in the local newsagent. By the same token a specialist performance car magazine may not be the most cost-effective advertisement for your 1999 Nissan Micra.
- As with selling, decide on an advertising budget and stick to it. You are looking for the greatest exposure via the most appropriate media for the lowest cost.
- Please Note : Putting For Sale signs in your car‘s windows while its parked at the side of the road is illegal and some local authorities are currently taking action (fines, removal of signs, towing). Driving around with For Sale signs in your car windows is also illegal.
- List the make, model and year as well as trim levels or options supplied by the manufacturer and the condition of the car e.g. "Porsche 911, 997 (2008), GT3 RS Clubsport, immaculate"
- List the mileage, transmission type, colour and trim fitted, e.g. "9k mls / 14.4k kms, 6-speed manual, Guards Red, black leather interior, centre-console in exterior colour"
- List other options fitted and state whether they are factory-fit (good) e.g. "Harman-Kardon stereo inc. 10-CD auto-changer, Porsche navigation & telephone system", or after-market (maybe less good), "Halfords vinyl flame graphics on rear wheel arches, pink furry dice on rear-view mirror"
- List Tax & NCT duration e.g. "NCT to 01/10, Tax to 02/10" or "No current NCT, Tax expired 06/09".
- State other relevant information, e.g. "1 owner from new", "2 previous owners", "main dealer maintained, FSH"
- State your price e.g. " €5,000 no offers" or "€4,975 ONO (or nearest offer)"
- Supply your contact details e.g. "Ring Mary at 089 555 9999 after 6:00pm".
- If you want to impose some caveats, state them now e.g. "private numbers will not be answered", "no dealers / traders", "no part-exchange (PX)", "no tyre-kickers or girl-racers", "will not travel to viewings".
- The print media usually charge by the word for ads so you will need to choose the wording carefully as well as cost effectively.
- Some web-sites / magazines take pictures to accompany your ad and this is included in their pricing, other may expect you to supply the photographs; in either case make sure they show your car off to best advantage.
- Some places are listed here - http://www.askaboutmoney.com/showthread.php?t=52786
- Do not answer calls from private number / number with-held
- Stick close to home
- Do not travel to a purchaser-specified location
- Get a name (and address?) from the prospect and ring back to confirm the date and time of viewing
- Make a note of these calls in a note-book
- Tell prospective purchasers they must bring their driving licences with them
- Check your insurance. If your policy does not cover “other drivers”, tell prospective purchasers they must bring proof of insurance cover with them if they wish to take a test drive
- Do not discuss price over the phone other than to confirm what the advertisement stated
- If you get calls from placement agents or people promising to find buyers for a fee, tell them politely you are not interested and ask them not to ring back
- See here for selling scams - This key post on Scams when buying and selling cars might be helpful also.
- Have your mobile phone with you
- Have a friend or family-member with you holding the papers for the car
- Confirm that the person who shows up is who they say they are by :
- Accidentally ringing their phone
- Asking to see their driving licence
- Asking to see their proof of insurance, if applicable
- Confirm that the insurance certificate and driving licence are for the same named person
- If possible ring the insurance company's help-line to get confirmation that the prospect is in fact covered for the test drive
- Give honest answers to any questions the prospective purchaser asks about the car
- If the prospect asks for a warranty or guarantee with the car politely state that :
- You are not a motor trader / automotive technician
- This is a private sale
- The car is being sold as seen
- There is no warranty express or implied being offered other than the residual of the manufacturer’s (if applicable)
- They can arrange at their own expense at a mutually agreed time to have the car inspected by their own expert
- Don't let someone steal your car under the pretext of having a solo test-drive in it
- Go with the person when they are test-driving and consider taking a family member or friend with you.
- Don't hand over the car, keys or papers until any bank drafts or cheques have cleared
- Keep a note of the buyer's name and address in a safe place
- Fill in the RF101 with the details from the prospect's driving licence / insurance certificate, date it, have prospect sign it, sign it yourself, tick the "CHANGE OF OWNERSHIP" box and post it off to Shannon (Do NOT hand the RF101 to the new owner). Remember you may be liable for parking-fines and speeding-tickets until the new RF101 is issued.
- Consider drafting a bill of sale signed and dated by both parties recording the details of the car and the transaction and the words "sold as seen"
Making sure you get paid when selling your car:
- Take cash only
- Accept cheques or bank-drafts and lodge them for "express clearance" and only part with the car, keys and paper-work after you get confirmation from the bank that money is value-dated in your account.
- Take the insurance disc from the windscreen
- Take your house / garage / office keys off the car-key ring
- Phone the insurance company and take the car off cover immediately (you will have to return the disc and certificate before they actually cancel the cover but make the call anyway)
- If you have a Toll Tag, remove it from the car
- If you use a video account on the M50, ensure you de-register the car so you don't end up paying for the new owners trips!
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