Selling an old car for the right price is difficult. Most buyers of second hand cars are not willing to pay more than a certain price anymore, simply because it'd be cheaper for them to buy a brand new car given today's competitive rates. So, if you do want to defy the trend and command a better price, follow this 5 point trick book:
1. Groom your machine Keep your car well maintained and ensure that the engine is at peak performance. If your car has any scratches or needs a fresh coat of paint, provide it with one. Similarly, ensure the insides are clean and the upholstery is not old and torn. You may have to invest a little to make your car look good, but it's an investment that will help you bargain for a good price eventually.
2. Quote higher When you quote a price for your car, always quote a little higher than the actual price you want to sell it at. A prospective buyer will always try to negotiate and bring the price down.
3. Don't get sentimental If the car you are selling is the first car you bought or owned, you're likely to be more attached to it. Don't be! Remember it's just a car – so don't get too sentimental about it. If you do, you're likely to sell it to the first buyer who comes along, at a price way below the market value of the car.
4. Be practical Unless your car is a vintage model, the older it is, the less you'll be able to sell it for. So be practical when it comes to how much you hope to get for it. Also, it's a good idea to sell your car after 2-3 years and upgrade to a newer model. That way your old car is not that old to demand a better market price.
5. Check out what car dealers have on offer Contrary to popular perception, it's a good idea to sell your car to a car dealer. Most car dealers now have various schemes in place that may benefit you. You can upgrade to a newer model, get free insurance or even free service for a year or two. So, do explore the market and see what options are available.
It's the festive season. It's the season that demands you to empty out your pockets a bit. And what better way to celebrate this festive season than with a set of new wheels for you and your family!
Here's what you need to keep in mind before you make your big purchase.
Steal a deal Keeping in mind the customer demand, car dealers offer great discounts and deals during this festive season. Make sure you scout the best bargain for yourself. From free insurance to longer EMI's or even zero interest EMI's and possibly even free registration – a new car is yours to grab with a great bargain.
Read the fine print Don't get carried away with all the information that comes your way. Make sure you read the fine print before signing on the dotted line. A great deal may go sour if you don't research well or understand properly all terms and conditions.
Stay in your budget OK, so the new big car is probably a couple of lakhs less that other big cars, but can you really afford it? Will the EMIs stretch your savings? If yes, you should probably stick to the smaller car you first thought of buying!
Consider the delivery time When you book your car, make sure your dealer promises to deliver at the time you want the car. Given the festive rush, certain car makes may have longer waiting time till delivery. So what's the point of getting that new car you wanted for Diwali at Christmas?
Go green While you are at it… why not think about the environment too? Make sure your new vehicle meets the latest pollution control norms. Go on; do your bit for the environment this Diwali.
Your sights may be set on the new model in the market, but don’t allow that to make you forget about your old car. It’s still worth something, whichever model or make it is. Here’s how you go about selling it: this may sound obvious, but clean your car. It’s amazing how many people forget to do this. A buyer will be more inclined to go in for a car that’s clean and tidy.
Find every scrap of paper related to your car. Besides the registration and the road tax papers pull out all bills, warranties and service records you can lay your hands on. This will prove to a potential buyer that you have cared for your car. What’s more the buyer can also conveniently glance through the car’s history.
Finally, remember to inquire about the prices of cars similar to the one you’re selling. Allow yourself a small margin of 10%, for negotiation.
Buying a second hand car? Don’t forget to check on the following to ensure that the vehicle is in good shape.
• Speedometer: This is an easy area to tamper. A doctored speedometer will show queer readings so verify if the meter reading matches up with the overall condition of the vehicle as also other verbal information that has been passed on to you. • Checking on the mileage of the car (kilometres per liter of fuel) is another indicator on condition of the car. Low mileage is an obvious indication on the poor upkeep and maintenance of the vehicle. • If one is opting for a second hand Japanese car a point to be borne in mind is water damage. Smaller vehicles are most susceptible to damage by floodwater, so check up on this factor. • Make sure that the `shut lines' in the vehicle are even. Shut lines are lines between surfaces that open and close, such as doors, the bonnet and the boot. These lines tend to get uneven in case of an accident.
Checking for rust is another point that must be borne in mind while buying a second hand vehicle. Check lower panels, windscreen base and under doors for rust.
Shopping for a second hand car? DON’T TRUST YOUR SENSES…they are bound to be ruled by emotions. It is very important to seek a second opinion while making a vehicle deal primarily because our own senses tend to be clouded by emotions and the feel good factor. A few areas that need to be considered before buying a second hand vehicle.
• Ensure that guarantees on the used car are valid and running. No sense buying an ancient vehicle (unless of course if you are looking for vintage ones) which is not covered for maintenance or whose spares have outlived their time. Fine tooth comb all details in the guarantee, it is better to be doubly sure than sorry. • Do not be put off by cars that have been doing long runs. A longer time on road is not necessarily an indication of poor maintenance or greater wear and tear. Higher mileage is a sort of durability test for vehicles. Vehicles doing long runs also mean that it they have been well-oiled and maintained. • Check, check and re-check with auto guides, on the Internet, with friends and auto dealers about the car’s auto parts, their availability, place you can get it from, etc. You would not want to be stuck with a vehicle that has been out of production over 50 years ago, leaving you with no spares.
Seek professional help before going in for a second hand car. An ideal person to contact could be the car company’s mechanic or trained professional who can give accurate information on the current status of the vehicle.