Anytime you are having to buy or sell a new or used vehicle, it can be tough. You have to search for the car you want. You then have to consider your budget and sort through offers for your vehicle of choice. If you’re selling you want to make sure you’re attracting only serious buyers.
There is also the possibility of scams on both ends that you’ll have to look out for. Overall, there is a lot of forethought and planning when doing vehicle transactions. If you’ve never gone through the process before, you’ll want to do as much prior research on the dos and don’ts.
The following is a handy guide that will help make any such transaction go as smoothly and painlessly as possible, hopefully helping the whole process go more efficiently for all parties involved.
How To Handle Vehicle Transactions
While there are always going to be people who try to scam others, be wary when making any sort of vehicle transaction. Generally, you can trust dealership vehicle transactions as they are more controlled and regulated. Dealerships offer customers a lot of incentives for customers and should something go wrong with the vehicle, you will have more protection. You should of course research the dealership you want to use.
Outside of those types of transactions, you may choose to do it on your own or from person to person. Private party car sales are not uncommon but they do require more effort. You want to be extra cautious with these types of transactions. Many people have lost money, or end up with a terrible car that they spend a lot of money on in repairs.
The guide below will give you step-by-step things you can do to make sure you’re successful in buying or selling a car.
1. Do Research
For starters, do some research into the person you are buying/selling to/from. This includes not just using a private party website like Craigslist or a dealer but also doing an online search about them as well. With today’s technology, you can get a basic background check on just about anyone. You should of course use the information you get responsibly. The research will truly be your best friend in these types of transactions.
2. Meet In Place a With Other People
Also, when making any sort of transaction, make sure you meet in a public place. This includes meeting at the bank or at a car dealership with plenty of other people around it; don't just go around the back of a random building and let someone give you a check for thousands without some witnesses nearby. If doing cash payments, it's even more important to have witnesses around.
3. Don’t Give Out Personal Information
To avoid any potential scams, don't give out personal information on the internet. Don't meet in a remote location with someone just because you met them online; this includes not only giving your address or phone number but also following up an initial car email/text with meeting the buyer/seller in person and showing them anything they want to see. Always meet in a public place for the initial transaction to make sure you are not being scammed.
4. Do A Test On The Vehicle
It is always better to get a mechanic or someone else who knows about cars to look over any potential purchase before buying it! Once you have met with your buyer/seller, be sure to check out and test drive the vehicle before buying it. This is something that should be done anyway, but extra caution should be taken when making a private party sale online or otherwise, as you want to avoid having someone sell you a vehicle that's not working properly.
5. Use An Agreement
Unlike buying from a dealer where you can just take your new car back if there are problems with it (even if it's just minor issues), if you have a bad private party seller, there is very little recourse for getting your money back; thus, be sure to do any sort of necessary checks beforehand so that you come out of the transaction with everything working properly. For further protection, you can create a sale agreement that will protect both the buyer and seller from malicious intent. Both parties can maintain copies of this agreement and can use it as legal proof in the event there is something wrong with the vehicle that was kept out of the transaction.
6. Get A History Report
If a vehicle transaction is going sour, one thing that can help get more information is a vehicle history report. A history report can tell you straight away if the car is still or has had prior damage. Sometimes a seller will be pushy and trying to force the sale. This is usually because there is something wrong and they want it off their hands as soon as possible. Always be aware of these types of people.
7. Have the Vehicle Appraised
Also, if the vehicle might turn out not to be worth as much as you had hoped, consider having an expert look over any potential sale before putting it up for buyers! You can use a mechanic or professional appraiser to get a fair quote on the price. If you’re looking to buy, you can also do this to make sure you’re not overspending on a vehicle.
Buying or selling a car can be an easy or complicated process. It will all depend on how well you do your research before going into it. If you’re going to a dealership, know how to handle pushy salespeople. If you’re selling, be aware of buyers trying to work your price down. If you’re buying from an unknown source, make sure to examine the car thoroughly.
If you follow the tips in this guide, you’ll be on your way to a smooth transaction in no time. Make sure to protect yourself at all times. Have witnesses, meet in well-lit places, read all the fine print, and check the quality before leaving the area. Good Luck!
Posted 3 months ago by Allen Brown