Tips On Safely Selling Your Car Online

When you advertise your car online, you will get many queries from potential buyers. While some of them may be genuinely interested, others may have the wrong intention. However, the convenience of selling your car privately online is unmatched.

Therefore, to help you safely selling your car, ZeMotor is here to share some helpful tips with you. With many years of experience in the automotive marketplace, we have compiled a list of advice that may be helpful. As you sell your car privately on ZeMotor, follow these tips, and you should be safe.

Be Honest

While writing the advert for your car online, you need to be absolutely honest and accurate with the information. Don’t hide any dents, scratches, or other flaws that your car may have. At ZeMotor, we give you ample opportunity to give a thorough description of your car, along with uploading multiple photos.

It is against the law to wrongly describe a car and mislead the buyer. You could get into trouble later.

Clear off any outstanding finance

Before you begin to advertise your car online, you need to have a clear title. In order to receive a title, you need to first pay off any outstanding balance you may have in the car. But how do you do that? Our experience tells us that most of you may not have the cash in hand to pay off the finance company.

If yes, then the easiest way to settle any balance amount is to get a financial statement from your finance company. The statement will show the outstanding amount, which you can ask your buyer to pay that directly.

Your finance company should send you an email confirming that the payment is made and that you hold “no further interest” with the company.

Mode of payment

The safest and most secure form of payment is through fast bank transfer. You should only accept such payment mode and ask for the bank transfer-proof. Make sure that you check with your bank that the banking system has cleared the fund’s transfer. There are other forms of payments too, but they cannot be guaranteed.

It is advised not to accept any bank screenshot or print as proof of payment. Don’t let the buyer make payments through a bank card or credit card over the phone. There have been instances where the buyers have denied making transactions to the card company. There is also the risk of stolen cards being used to make the payments.

Do not accept cash

Cash can be seen as an easier form of payment. However, with years of experience, ZeMotor recommends you only accept cash payment at a bank. You must take the buyer along with you to the bank and accept the payment. Deposit the cash into your account on the spot and have the bank count the notes for you and check if they are fake.

Not every bank will check the notes you give them. Therefore, it is better that you request the bank to check the notes instantly. There are chances that the cash may have come from money laundering or other illegal activities.

Complete all paperwork

- Give payment receipt

Make sure that you give a payment receipt to the buyer. The receipt should include all important information about the car, such as chassis, registration number, engine number, etc. The receipt number should also mention the date of registration, displayed mileage, and the number of owners.

- Take proof of ID

You need to ask for proof of ID from your buyers before she/he drives off with your car. It can be a driving license or a utility bill etc. This is done to show proof if the buyer gets into a traffic offense on her/his way back home. It will prove that you were not the one driving the car.

Scrutinize the buyers

When you post an ad for an expensive car, it indicates that you may be rich to own such a car. Therefore, there are chances that you may invite fraudsters or imposters who may seem very interested in the car. Some of them may even be eyeing your other valuable possessions. A better idea is to meet the buyer at a public space that is not close to your house.

You need to be extra careful before letting people access your home or before sharing documents. If the buyer comes for a test drive, the first thing is to check if she/he has a driving license. You must never let the buyers take the car alone for a test drive; even they give you their car keys in exchange. Always make it a point to accompany them during the test drive.

Be wary of your legal obligations.

When you mention “sold as seen” in your ad, you have a legal obligation to deliver the car exactly as it looks in the picture. If the buyer notices any defects after buying, such as a fault in the engine or gearbox, you are liable to compensate your buyer.

Conclusion

If you own a high-value car, then selling it privately comes with its own set of risks. However, when you do it with ZeMotor, you can be assured that we are always ready to help you with any assistance you need.