So, you’ve finally decided to take the leap and sell your car. Now, of course, this wasn’t an easy decision, especially since this was your first car. Your first car has so many memories.
This was the vehicle you experienced your first road trip with. All those crooks and crannies represent and hold some memory of your life, so it isn’t easy to just let it go. But of course, there comes a time when you need to let things go, and start afresh.
This is why we have put together tips on how you can go about selling your car in South Africa. So, take a look at our article to ensure you have a smooth sale.
Have all your vehicle’s paperwork ready
Any potential buyer wants a seamless process where the seller has everything on hand. So, your first tip for selling your car is to have all your car’s documents ready. This will ensure the process of selling is simple and transparent between both parties. These are the documents you need:
- Proof of identification: this can either be your driver’s license or your ID. You and the potential buyer will need to produce those copies for the selling process.
- Proof of ownership certificate: this is a letter stating that the car belongs to you. You can only get this once the vehicle has been fully paid off.
- Settlement letter: this is for individuals who have not settled their vehicle financing. The settlement letter will disclose to the buyer how much is still outstanding.
- Notification of Change of Ownership: you will need to change ownership. This is to ensure you are no longer liable for any issues e.g traffic fines made by the new owner. This form is available online, or you can go to the traffic department closest to you. Each person and the Department of Transport needs to have a copy of the signed document.
- Registration certificate: to register the new owner, they need your original Vehicle Registration Certificate. Make sure you keep all documents once the new owner has registered, as you will need to deregister.
- Proof of sale: when the deal goes through, you will need to have a written receipt of acknowledgement. It has to include the date of sale, selling price, the type of vehicle, model, car registration, VIN number and the contact details of both you and the buyer. This is not a legal requirement, but it’s a safety precaution that may help you in the long run.
- Roadworthy Certificate: you have a window period of 21 days after the sale to give the RWC. So that the new car owner can go through with the registration process.
- Service history: Lastly, make sure you have the service history as many people won’t purchase a vehicle that does not have receipts or service history, as they need all the necessary car details.
Understand your market
Now, you need to access your market and know what to expect. Do you have a popular vehicle that’s going to sell easily? These are the types of questions you need to ask yourself. For example, if you have a family sedan, then you’re in luck because many family-orientated individuals will be interested. But, if you have a vehicle that’s not a popular choice, it’s best to sell it on an online classified advertisement website as you’ll have a better chance of finding a buyer than having a “car for sale” sign on your window.
Set your asking price
Now when you sell your car privately, you need to come up with an asking price. To do this, you will need to estimate what your car’s car value is, so you can have a guideline of how much you can ask for. There are car book value calculators online that you can use to work it out. Once you know the price, start doing research online and see what other sellers are charging for the same model. You should set a price that is higher than the current market value of your vehicle’ that way you still have room to negotiate. Because you may find a customer who wants to buy it at the market value which might be less than the car value as the price is determined by the market. But, if you negotiate well, you can lower your price to the market value and still get a good deal out of it (instead of suggesting the market value price and have someone want to go lower because then you’re working at a loss).
Spruce up your vehicle and create ads that sell
When a potential buyer sees an ad for a “pre-owned car for sale” you want them to click on your ad. So, make your images look appealing and makes the buyer want to meet you. So, make sure you give it a good wash so that it’s shiny, and repair what you can. This does not mean you need to fix everything, but make your vehicle presentable in the picture and in person. So, the buyer sees why they’re paying a certain amount of money for your car.
Most advertisement sites allow you to add basic information about your car, the model, make, year, mileage and price. So, be truthful, and then when it comes to the body of the ad, do not repeat what you’ve said. Instead, sell your vehicle and make them see why they should buy it. If you have a word wizard as a friend, ask them to write an informative yet quirky body ad for you.
Be observant during the selling process
When you sell your car, there will be people who wish to try their luck. Now, this is the time when you trust your instincts. For example, if you come across a buyer who seems too good to be true or pushy, vague about their information, rather not make an arrangement with them. This is to avoid being scammed. And don’t worry, because there will be other buyers. Don’t feel pressured. And remember, you’re selling your vehicle online, so you are guaranteed to find someone, especially if you use a popular website that has a large amount of traffic coming in daily.
Have the buyer test drive the vehicle
Of course, when someone buys a car, they want to test drive it. So, set up a day to meet up so that they can drive the vehicle. Arrange the meeting in a safe and crowded place. If you can, bring a trusted friend or family member with you during the meetup. Allow them to drive the car around for a bit and listen attentively for any questions they may have. Remember this is not the time to sell your car, but a time to observe the buyer and answer any questions.
Negotiate and seal the deal
Now after people have seen your car online and have gone for a test drive, there will be an interested buyer. This is the time where you put your negotiation skills to the test. Put your asking price on the table and take it from there. Remember, you should always be the one who is offering the price, and the buyer needs to negotiate from there.
If you give them the upper hand, it might be difficult to get them to agree on your asking price. This is not to say you aren’t open to hearing their offer; this simply means you are setting the price and working from there. Lastly, find out what the payment arrangements are, so you know what you’re getting yourself into. Once you have reached an arrangement, the only thing left to do is make a proof of sale and start car shopping.