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Finding & Dealing With A Buyer
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You can include several forms of contact information for potential buyers when you place your ad. Provide both daytime and evening phone numbers and an email address. If you've followed the steps listed above, you should begin receiving enquiries quickly.
If you receive a voice mail or email message, return the call promptly. The buyer was interested enough to contact you, but may cool off — or find a better car — if you don't reply within 24 to 48 hours.
For many owners the worst part of selling a car is having to deal with potential buyers. It may feel as though they have all the power, but it doesn't have to be that way. Know what to expect, and how to deal with it, and you shouldn't be caught out by experienced hagglers, time wasters or criminals.
Test drives
First of all, never let the buyer go out alone - there's a potential risk that they won't come back. They may leave you their car keys as security, but how can you be sure it isn't stolen? Also check they have adequate insurance cover, otherwise you could be liable for any accidents they may have.
Let the buyer follow his or her own route, as many are suspicious if you dictate which roads to take. Be prepared for people to drive your car hard - but if it's a performance model and they are seriously abusing it, politely ask them to calm down, or demand they stop. It's your call - it's your car.
NEVER leave the keys in the ignition when swapping seats. Thieves may try to engineer such situations, so you should be especially aware.
Inspections
Increasingly complicated cars mean buyers are now far more willing to pay for used car inspections. If you're serious about selling, you shouldn't have any objections, but remember they often take a few days to organise, so you may have to put other buyers on hold until the inspection has taken place. A deposit from the buyer will prove their interest, as should the fact that they're spending money on checking your car.
Haggling
Buyers inevitably haggle about the price; it's all part of buying a car. So you need to be firm, without being unreasonable. Set a price beforehand and keep it in your head during negotiations. This will mean you're prepared to stand your ground.
Don't, however, refuse to take offers - this will see buyers walking away - and don't decline a sale for the matter of £50 or so. It'll cost you far more in re-advertising fees, time and hassle.
Handling the money
In an ideal world, you’d be paid cash during normal office hours, and be able to pay it in immediately (checking for forgeries, of course). But life isn’t like that!
If you do receive cash, try to get it handed over to you in a bank, so you can pay it in straight away and the cashier can check for fake notes. If your buyer gives you cash outside of banking hours, pay it in as soon as possible once the banks are open.
Far better methods of payment are CHAPS or BACS. CHAPS Direct Transfer is an electronic transfer straight from the buyer’s account into the seller’s. This is a ‘same day’ transfer and you can get confirmation that the money has been deposited before you release the car. However, there is usually a fee for this. BACS is a similar transfer process but it can take 3 or 4 days to clear; however, it is usually free.
Cheques and bank or building society cheques are a little more problematic. Personal cheques can be cancelled or issued without the available funds in the account, meaning that if you’ve handed the car over, it’s probably the last you’ll see of it.
It is a common misconception that bank or building society cheques are as good as cash. They’re not. With quality forgeries changing hands, you must ask your bank how long it will take before you can draw funds against the cheque, and don’t release the vehicle until you have confirmed with the bank that this has happened.
You should ask the bank if you can draw funds against the cheque. Don’t ask the bank if the cheque has cleared as this can mean something different. If possible, go with the buyer to the bank to draw the cheque.
If you haven’t already, ask the buyer for ID with an address and landline telephone number. At least if something goes wrong, you’ll know where to find them. If they are reluctant to give this information, you should be wary.
Finally, write a receipt for both you and the buyer, stating that the car is being sold - and make sure you both sign it.
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