Used Cars - Selling a Used Car and Dealing With Car Buyers

Selling your used car can be a daunting prospect, however, by knowing what to expect, you can avoid being caught out by experienced hagglers, time wasters or criminals.

Test drive
You should never let the buyer go out alone on the car, there's a chance that they won't come back at all. Check they have adequate insurance cover, otherwise you could be liable for any accidents they may have.

It's recommended to bring a close friend or relative with you - especially if you're selling a used car. You should always keep the keys on you when swapping seats or getting out of the car.

You should let the buyers follow their own route, as many are suspicious if you dictate which roads to take. Also be prepared for people to drive your car hard - but if it's a performance model and they are seriously abusing it, ask them to calm down.

Haggling
Some buyers will inevitably know how to haggle about the price; it's all part of buying used cars. You need to be firm, without being unreasonable. Set a price beforehand and keep it in your head during negotiations.

Don't refuse to take offers - this will see buyers walking away - and don't decline a sale for the matter of £50 or so. It'll cost you far more in re-advertising fees, time and hassle.

Inspections
More and more used car buyers are now willing to pay for used car inspections. If you're serious at all about selling your car, you shouldn't have any objections. A deposit from the buyer will prove their interest, as should the fact they're spending money on checking your car.

Handling the money
In an ideal world, you'll be paid cash during normal office hours and be able to pay it in immediately (checking for forgeries, of course), but this won't always be the case.

If you do receive cash, try to get it handed over to you in a bank, so you can pay it in straight away and the cashier can check for fake notes. If your buyer gives you cash outside of banking hours, pay it in as soon as possible.

A far better way is electronic transfer. It allows you to transfer funds online, but it can take a few days, so don't release the car until the bank tells you the funds have been successfully transferred.

Cheques and bank or building society cheques can cause problems. Personal cheques can be cancelled or issued without the available funds in the account, meaning that if you've handed the car over, it could be the last you'll see of it.

Despite common belief, bank or building society cheques aren't as good as cash. With quality forgeries changing hands, don't release the vehicle until the money has cleared.

You should ask the bank if you can draw funds against the cheque. Don't ask the bank if the cheque has cleared as this can mean something different. If possible, go with the buyer to the bank to draw the cheque.

Write a receipt for both you and the buyer, stating the car is being sold and make sure you both sign it.

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