Important Points to Consider While Selling a Car!
Updated On Oct 15, 2023
Here is a checklist of all the crucial points that you should consider when you plan to sell your car.
Table of Contents
When it comes to setting a car, you need to take care of several things. Apart from the emotional connection, the process of selling a car is not easy as there are many processes and protocols to consider from being aware of the market situation, picking a suitable price and getting the relevant paperwork done.
List of Things to Consider While Selling a Car
Here are some important points which should be considered while selling a car:
1. Research Market Conditions
Start the car selling process by checking the prices of similar cars online. It is important to find the current market value of your car which is known as the Insured Declared Value (IDV) in car insurance that arrives by deducting the depreciation cost from the original price of the car. Getting a clear idea of your car’s IDV will help you ask for the right price for your car.
2. Complete the Paperwork
Try to keep all the required and relevant documents handy which a prospective buyer could need such as a registration certificate, RTO tax details, car servicing history, NOC in case of loan, any pollution or emissions certificate, and so on. In the absence of a necessary document, the process might get affected.
3. Get the Insurance Right
If you have been a responsible driver and earned a No Claim Bonus (NCB) on your car insurance policy, then you should intimate your car insurance company about its sale. You can also ask them to provide you with an NCB preserve letter to retain its benefit for up to two years. You can transfer the bonus onto your new car but any benefit will not transfer to the new owner unless you want.
4. Get the Car Inspected
Before you sell your car, you must get it checked thoroughly and fix any type of faults in it. You can also give it a good wash and get its interiors clean with some polish and wax to make it shine. The inspection and cleaning of your car will make your car in better condition which will help you negotiate better while selling it.
5. Release the Advertisement
Click some amazing pictures of your car and put some time and effort to write an appealing description of your car. After this, you can sell your car either through car dealers or online platforms or by yourself. However, selling your car traders using their online portals might save you from various types of hassles as they offer end to end solutions and help to get the best price for it.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.