Sell Smart. Get the best deal on your old car

With the festive season round the corner, many of you may be planning to buy a new car. While one usually spends a lot of time evaluating various options and picking the right kind of accessories, seldom does one spend time negotiating the best price for the old car. By following a few thumb rules, it is possible to get the best deal on your old wheels as well.

You can aim for a higher value if the documentation is in order. For starters, the vehicle’s invoice that lists you as the owner is essential. So too is the registration certificate from the local RTO.

However, if you had bought the car on borrowed money, pay it off in full, cancel the lien and then transfer the title to your name.

Then all that paperwork that vouches for proper maintenance and care of your car can help you get a better price. For instance, regularly (at specified time or distance intervals) servicing your vehicle at authorised service dealers can land you a good deal. So too is evidence of topping up and replacement of lubricants in engine and gear box as well as radiator coolants. Replacement of parts will boost value as well.

It is critical to go to authorised centres to service your car for they generally use manufacturer-approved fluids that are critical in minimising wear and tear of mechanical components and prolong the life of car components.

These preventive maintenance steps also ensure that the most important mechanical elements of the car continue to be in good health. Moreover, a thorough vehicle service prior to its sale — by addressing any squeaks and rattles — is a good practice.

Any exterior or interior blemishes such as faded colours, scratches or nicks can immediately catch the attention of potential buyers. For a better kerbside valuation (valuation based on external inspection and photographic evidence), ensure these are fixed prior to getting your car listed.

Moreover, a thorough cleaning both on the inside and outside is good practice. In the inside, pay particular attention to the driver’s seat which normally wears out faster.

Stained and worn out fabrics or leather must be attended to. Further, include mats, carpets, facia, glove box and headliner in the cleaning list. Externally, don’t forget to keep the engine bay, boot, wheels and tyres spick and span.

If your tyres are at the end of their life, it may be a good time for replacement. This also applies to glass, windshield wipers and mirrors. Any cracked glass or rubber will be frowned upon by the prospective buyer.

Do remember that failure of the air-conditioner can diminish the overall car value. Prior to listing, fixing it to make it work in top order can help during negotiations.

With a proliferation of electronics, the condition of battery now plays an important role. Check and ensure that all power-driven equipment, such as windows, music system, wipers and lights, including emergency flashers, work.

If you do have a car which is over seven to eight years of age, do remember that spending too much of money may not correspondingly increase its value. It’s a trade-off that you have to consider.

It is prudent to be upfront about any manufacturer recalls. Though the dealer may have sort out the issue, supporting documentation definitely helps.

If your car has accumulated lower mileage, list it as your top-selling point.

If it has always been kept in a covered parking, both at home and office, highlight that as well. Make a mention of avoiding accidents and insurance claims.

The key to right pricing is about striking a balance. Price it at such levels that will attract many serious buyers, but not too low either.

Do your research, work with your contacts, speak to dealers and try to estimate their exchange value which can be used as a starting point. Advertise it online for better reach.

However, if you do not wish to go through the hassle of selling it yourself, you can approach dealers who may take your car for an exchange, or may even sell it to a used car dealer.

However, the value that you will receive through these channels could be lesser than what you may have aimed for when selling on your own.

After sealing the deal and receiving payment in full, hand over the keys and complete the paperwork that officially transfers title to the buyer. This will ensure that you will not be liable for any untoward incidents, post-sale transaction.