Are you considering selling your old car? One of the biggest decisions you have to make is how to sell it without facing any problem. Hence, it’s definitely worth to explore various options before deciding how to sell your old car. You can either opt for a dealership where you can sell it in exchange for cash, trade it with another car or you can sell it privately. Each option has its own set of advantages and disadvantages.
One of the biggest differences is that you have a chance of getting a higher price in a private sale than what a dealership might offer. However, selling a used car privately deserves careful consideration as you can face some unexpected risks. Here are some things to keep in mind to limit risks when selling your car privately:
Avoid wasting time with non-serious buyers
Trying to sell a car privately is not an easy feat. Needless to say, you’ve already spent a lot of time and resources in getting your car cleaned, having it professionally repaired, taking pictures and crafting a concise ad. Thus, you would never want to waste time dealing with non-serious buyers. Unfortunately, it is a part of the private selling process which cannot be avoided. You will get countless inquiries from random people who aren’t serious buyers.
However, you can take precautions to limit your time wastage by doing a thorough screening of the people who show interest in your used car.
An easy way to screen each inquiry is to follow these steps:
- Ask the person’s full name
Any hesitation in this will prove that the person is not serious in buying your car.
- Identify the area from where the person is calling
Usually, people from surrounding areas are the first ones to inquire about a used car. If you are getting a call from a faraway location or from overseas, it’s definitely a red flag for a scam.
- Do they want to see the vehicle?
Anyone who wants you to bargain and make an offer without seeing the car and going on a test drive is another huge red flag. Don’t entertain these kinds of inquiries.
Stay away from scammers
There is a dark side of selling used cars privately that you should know about. In fact, scammers are the biggest risks associated with the sale of your car. Many people will pose as legitimate buyers and reach out to you when they really aren’t.
Scammers are always coming up with new ways to trick unsuspecting sellers. Some will ask you how much is car worth and say that they will pay extra if you’re willing to ship a car overseas. Some will ask you whether you accept a money order. Others will say how they have a friend in your area who owes them money and will come to purchase the car on their behalf. You might find yourself thinking that who would fall for these scams.
Unfortunately, thousands of people find themselves as victims of scammers every year. The key to staying safe from scammers is to know how to screen inquiries and trust your instincts. If you feel like something sounds fishy, hang up.
Safety comes first
The first thing to keep in mind when posting an ad for your used car online is to limit the amount of personal information you post in the ad. Unfortunately, many scammers are not interested in your car, but are looking forward to your personal information. Keep yourself safe from identity theft by staying anonymous. Make a sep