Selling an item
Tips on selling your motor
Preparing your vehicle
- Check your oil level (make sure it is full).
- Top up all fluid levels (water/coolant, windscreen fluid etc.).
- Check your tyre pressure and replace worn or damaged tyres.
- Interacting with buyers Never let the buyer go out on a test drive alone and never leave the keys in the ignition when you're not in the vehicle.
- Check the buyer has adequate motor insurance, otherwise you could be liable for any accidents they may have .
- Sometimes a buyer will want to pay for a third-party inspection of your vehicle to verify the information you have listed in your advert. This is becoming common practice and shouldn't surprise you.
- Haggling Buyers will inevitably want to haggle about the price. Be firm but not unreasonable. Decide beforehand how much you are willing to drop the price - and stick to it! Once you agree on the price don’t forget to fill V5C form (for you and the buyer) stating the vehicle has been sold and make sure you both sign and date both copies of it.
Visit the address recorded on the V5C document and ask to see proof of identity, such as a passport or recent utility bill, to ensure the seller is the keeper.
How to Avoid Fraud
Follow these simple rules and you will minimise the risk factor involved when buying a used vehicle. There are cases of fraud in the market but if you take care you can reduce your risk. The basic rules to follow are:
- Visit the seller - don't let them bring the vehicle to you and don't meet them halfway
- Check their identity
- Vehicle Check the vehicle
- Don't buy a 'bargain' - it may not be all it seems
- Get an independent mechanical inspection
- The details of the agreement and the finance company are shown in the Vehicle Check report. You should contact the finance company and ask if the agreement has been fully repaid. If it has, ask for written confirmation and only consider buying the vehicle once you have it.
- If it is outstanding, ask the seller to obtain a settlement figure from the finance company (they will not supply this to you as you are not the account holder).
- You can confirm this figure with the finance company. You can then pay the outstanding sum directly to the finance company, and pay any balance to the seller. If the settlement figure is greater than the asking price, both you and the seller should pay the finance company together.
- The finance company should automatically contact Experian to remove the data from the vehicle.