And how to do it easily and safely through OTUA Connect!
6 key steps to sell your car directly
Selling your car yourself might seem like a daunting task for first timers but OTUA Connect! is here to change that.
Like all of us, you want to get the best price possible for your car and after trudging through countless WhatsApp messages, coffee-shop advises and scouring the internet for the best possible answer, you may have concluded that the best way to do this is to sell directly to buyers looking for a second hand car. In this article, we take you through the 6 steps that typically happens when you try to sell your car directly yourself.
1. Preparing your vehicle details
The very first step to selling your car yourself, is to get ready your vehicle information. This includes:
- Last 5 character of the vehicle owner’s ID
- Car plate number
- Current mileage of your car
- Taking beautiful photos of your car
- Preparing your car servicing records & warranty documents (if any)
- Finding out the market value and listing price for your car
This is the easiest step and our client advisors will assist you to understand your vehicle’s current market value and suggested listing/dealing price.
2. Scouting for Buyers
This is hands-down probably one of the most tedious task you will experience as the market is dark and full of “low-ballers”. Of course, this is no fault of the buyers themselves since even the least frugal buyer would be on the hunt for the best deal for themselves. Unfortunately, when selling cars direct, filtering for the most recommended buyer is a time consuming process; and sellers are likely to face a plethora of probing questions pertaining to their car and at times, unduly price negotiations. Even after going through all that hassle, there are zero guarantees that a buyer will proceed to the next step of viewing your car.
Fortunately, one of the fortes of OTUA Connect! is the ability to match make your specifications to only potential buyers who will reach the viewing stage. We will assist you in the negotiations and turn down any offers that are deemed against your best interest. Either way, a mutual agreement is made between yourself and a buyer. The next step is to arrange for viewing.
3. Viewing of your car
Imagine this, you spent 2 weeks looking for the highest offer for your car and you finally found him (or her). However, the buyer insists that you meet them at Lim Chu Kang in the middle of the night for the viewing. Common sense dictates that this is extremely fishy and probably a setup for murder (just kidding)… and yet the buyer insists that this is the best time slot and location for them.
Okay, we admit that this might be a little too far-fetched but it can be a hassle to agree with direct buyers on the best time and location for viewing. Outside of potential inconveniences, sellers will also put the risk of any damage done during test drive solely on themselves. Regardless, viewing encourages better chances for closing a deal yet it also opens the possibilities for nit-picking on apparent or subjective factors that will affect the price of your car, i.e. a small dent/scratches or minor car defects that are blown out of proportions.
At OTUA Connect!, we will assist to arrange for a convenient time slot for both parties and typically recommend viewing sessions to be held at our showroom. We will ensure that the viewings are done professionally with experienced client advisors to sell your car properly. This of course includes:
- Ensuring all indemnity forms are properly filled prior to test drives
- Ensuring a safe and effective test drive
- Properly explain to your buyer on any potential wear & tear or defect that might be experienced or seen
- Ensure a successful negotiation and transaction is done
With indemnity forms, any accidents or mishaps that may occur during the test drive clarifies all liabilities affecting either party and avoids further complications to the whole process.
OTUA’s showroom is equipped for your comfort and you can even have a nice, friendly chat with one of our Client Advisors who will be more than happy to answer any questions you might have.
4. Price negotiation for your car
Upon a successful viewing and test-drive, sellers will usually try to renegotiate with direct buyers on a final revised offer price; taking into consideration all factors which may revise their initial offer. Sometimes, negotiations can go awry due to misunderstandings, miscommunications and/or issues arising to the physical conditions of the car.
In fact, check out our article on the 4 Tricks Dealers Use To Make You Sell Your Cars For Less to learn some tricks buyers use to lower their initial offer price.
Part of the negotiations will typically include:
- Earlier handover dates
- Pre-purchase inspections
- Who is responsible for the replacement of wear & tear or defective parts? and more
Under OTUA Connect, our professional Client Advisors will facilitate a smooth negotiation and ensure that all aspects of this process are handled thoroughly, with both parties’ vested interests considered.
5. paperwork for your sale
Perhaps the one factor that is incumbent on direct selling are the potentially complicated paperwork involved in completing your transaction. This would include:
- Sales and purchase agreement
- Deposit/payment receipts
- Loan application forms
- Insurance application forms and more
If your car is still under financing, a loan settlement will be required before any successful transfer of vehicle ownership can happen. You can read more about how you can successfully sell a car that is still under loan here.
One of the biggest delays in a vehicle transaction is poor understanding and execution of the necessary paperwork (especially deals that requires any financing from banks etc…), let OTUA Connect! assist you for absolutely no charge.
6. Handover your vehicle
We are finally at the last step!
Once all the necessary paperwork is completed, we can arrange for the handover date. On average, this would be any where from 3 working days to 14 working days from the sale date (depending on how complicated the deal is).
Remember to do your buyer a favor and send the car for a good wash down (entirely optional) and every one should go home happy 🙂
With OTUA Connect, we do the paperwork for you. Our Client Advisors have a cumulative experience of over 40 years in the automotive industry to assist you in achieving the best value for your car and a peace of mind over your transaction.
When you decide to sell your car, your listing will be advertised on SGCarMart.com as well as our website. You will also be privy to an ever-increasing pool of buyers who are in the market for a second hand car. Their needs are diverse; with interests in many types of cars. Therefore, there is little to worry if you will ever find a buyer – It is definite! If you are interested in joining our buyer list, hit us up on our email.
Lastly, we pride ourselves in providing you best in class service. Without the risk of sounding too cliched, we do empathize with car owners as we are drivers too. It is our aim to drive out (no pun intended) the stigma of selling direct to buyers and ensure that even for first timers, we will be there with you every step of the way.
Find out how you can sell for more at: https://www.otua.sg/sell-your-ride