How to sell old car in India? Selling used cars in India can prove to be one of the hardest jobs, especially without an idea as to what to do and how to do it. But with the kind of knowledge and proper planning involved, selling a car can be a simple and profitable process. As we present this article, we will give you a step-by-step guide on how to sell a used car in India and at the same time answer important considerations like transfer of ownership and paperwork. So, if you’re planning to sell your vehicle, keep reading.
How to sell second-hand car
There are two ways regarding how to sell old car in India-offline and online. The former requires you to contact car dealers or to request them from your contacts. This method is old; you simply contact a car dealer or refer them to your friends. Your old vehicle can also be sold online. You can sell your car on several online used-car portals. You can also trade in your old car online, like on the portal CarYanams or even through social networking sites.
How to sell a used car in India: Selling used cars in India online.
Perhaps, you might end up believing that the procedure on how to sell a used car in India is unattainable. This is the best way through which you can sell your used car. Selling used cars online is no longer a long process; internet-enabled smartphones have made this easy. You can use the following ways to sell your old car online:
Place a free used car listing on any online classifieds site.
- Sell your old car using an online trade-in platform from CarYanams.
- Share the information that you are selling your old vehicle through social media pages.
Selling a second-hand car process
Follow these easy steps on how to sell a used car in India.
Prepare the vehicle for sale:
Once the need to sell is determined, the car ought to be prepared to be marketable. Service the car, clean all the interiors, and repair it if it’s not in that condition. The better the condition of the vehicle, the more people can see it; hence it has a greater probability of selling for a better price.
How to sell a used car in India: Collect all the paper:
Car-related documents: Carry preferably the registration certificate, car insurance documents, PUC (Pollution under Control) certificate, etc. Do not forget the owner’s manual, the battery warranty card, and the car service history record, among others.
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Set a fair asking price:
After sifting through the papers, the next thing you’ll do is determine your selling or asking price. This is a decisive point that might need to be researched for you to know your best price. Compare other similar make/models of cars in the used-car market to give you an idea of the worth of your car. Ensure the selling price is not too high or too low.
How to Sell a Used Car in India: Advertise online.
You must create an eye-catching and informative advertisement. For this, you may visit one of the used-car marketplaces online. In this advertisement, do not forget to mention all the important details such as make/model, year of manufacture, registration details, insurance details, mileage, and the reason for selling, expected price, etc. And do not forget to post pictures of the vehicle. The more, the better.
Screen callers and communicate with them:
After posting your advertisements, you may receive many inquiries. It is at this juncture that it becomes highly crucial to screen the caller and find genuine buyers. Communicate with the potential buyer but do not become overzealous in closing the deal. Share with them all the details regarding your vehicle and answer any questions that may crop up.
Set up a test drive:
Try to clinch the deal by setting up a test drive. When the buyer arrives to view the car, park it in an open space free of clutter. Take the potential buyer for a test drive and answer any technical specifications about the car.
Finally, seal the deal:
Once the client is satisfied with the car, he may give you his word on the price. In case the client needs some time to gather funds, it is fine to bargain for a proper deposit amount, apart from stating the due date to collect the full payment.
How to sell a used car in India: Documentation and Payment
- Wait for the clear payment of the buyer before signing any papers or after the sale. After getting payment, hand over all of the documents finalize all formalities and collect government-issued identification as well.
- Hand over the keys from all of the paperwork done.
Which documents do I need to sell my used car in India?
- To sell a second-hand car in India, you would normally need the following documents.
- The original registration certificate of the car.
- The Original insurance certificate
- The Original PUC certificate
- A valid proof of identification such as a PAN card, and voter ID card.
- NoE from finance bank/financial institution, if financed. Make sure the ownership is transferred.
How to Sell a Used Car in India: Notable Points
Your sale is not over just when the cash is received. Thus it is best to get your vehicle transfer forms in place at the RTO duly signed by both you and the buyer.
Do check out our car insurance portal if you need one meanwhile.
You must exchange your contact details. Also, make sure that you have some sort of identity proof about the buyer. A driver’s license, passport, PAN card, or even a voter ID card is classified as valid proof of identity.
Give an NOC, notice of ownership, and report of ownership, delivery note, registration certificate, RTO tax documents, insurance papers, and the owner’s manual to the buyer. Also keep photocopies of Form No.28, No.29, and No.30, photo ID of buyer, RC, RTO papers, insurance policy, originals of the delivery note, and the invoice of the car.
Last but not least; do not breathe a sigh of relief till the car is in your name. Once this is done all you have to do is notify the RTO where your car was registered. All this is to be done two weeks after the sale and you need to mail all the documents you have retained.
Mail these documents through registered post with a cover letter.
In case insurance was part of the sale get in touch with your insurance company and let them know that the sale has been concluded. Ask the buyer to send you a copy of the updated RC.
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