Safety Tips to Follow When Selling Your Car

Posted on: Mar 9, 2022 | 3 mins | Written by: HDFC ERGO Team

Safety Tips to Follow When Selling Your Car

Many people who wish to sell their car are only concerned with one subject: the asking price! Vehicles are frequently sold in order to purchase new cars or to earn a little more money on a vehicle that is not used anymore. Although the price is critical, it is not the most significant factor. Before even considering the price of the car, consider all of the strategies to protect yourself totally safe during the transaction.

Even though it would be wonderful to believe that the automobile selling procedure is always secure and simple, the fact is that crucial precautions must be taken to safeguard the security of both parties involved - the seller as well as the buyer. Risk must be addressed in any circumstance where personal data is exchanged. However, to protect yourself from third party legal liabilities, you need to have valid third party insurance for your car.

7 tips to follow when selling your car:

1. Keep someone updated on the situation

The first step you can take to protect yourself while starting the procedure of selling your automobile is to keep someone updated at all times. The person can be someone from your family, your friend, a group of friends - anyone.

If you're taking calls from possible buyers, posting your mobile number on adverts, or even interacting with potential purchasers, keeping somebody important to you informed of what is really happening is a fantastic approach to safeguard your security.

2. Don't provide potential purchasers with your personal details

Another strategy to safeguard yourself while selling your car is to avoid disclosing any personal data to potential purchasers. If you have placed a sale advertisement on posters or blogs, or through your family and friends, it is critical that you only put out the exact minimum of data when screening possible purchasers.

It is a smart idea to create a separate email address exclusively for the transaction, rather than utilising your regular email address. You can employ a made-up identity or a nickname when engaging with possible customers. When the transaction appears to be nearing completion, you will be required to include your actual name on the paperwork like third party insurance for your car, but until that moment, protect yourself by minimizing the personal data you provide.

3. Be a reliable seller

During the sale procedure, be honest and forthright about everything pertaining to your car. Although it may seem apparent, never mislead potential purchasers about the condition of the car. This is not simply unlawful in most jurisdictions, but it is also a quick method to irritate your consumer. It's an excellent practice to be as open and honest about the automobile as possible, mentioning everything from the current third party insurance for your car, how the brakes operate to any little noises emanating from the engine. Be truthful about how and when frequently the car has been maintained, as well as any current causes of any issue.

4. Maintain your safety throughout the test drive

You are already in a decent, safe spot for a test drive if you are visiting your potential customer in a public area and have someone with you. Nevertheless, there are other precautions you may take to safeguard your safety. First, check to see if your third-party insurance policy covers another driver performing a test drive in your vehicle. The simplest method to accomplish this is to contact your third-party insurance carrier directly, describe the scenario, and inquire whether you are covered.

5. When finalizing the deal, take financial measures

It might be frightening for a customer to give over the cash and hope to obtain a functional car. It is also quite difficult for you, the seller, to have to swim the financial seas of a car transaction.

You need to determine which payment options you will accept. It is best not to collect personal cheques since you will have no idea whether they'll clear. Accepting a bank cheque is a smart option since you understand the customer has the necessary funds.

6. Take personal data out of the car

Check that no personal data is existent before handing over the car or any documentation to the customer. One smart initial step is to clear out the whole vehicle to ensure that no personal documents remain in the car.

If you provide the customer with the car service records, make absolutely sure all of the private details is blacked out. Names, credit card details, mobile numbers, and other private details should not be included in the documents. The safest approach is to create copies of the documents and then cover this data with a strong black marker.

7. Maintain a paperwork trail to prevent liabilities

Finally, to prevent responsibility, retain a paperwork trail of the whole transaction from beginning to end - with the utmost crucial element being at the conclusion when the transaction is finished. Always double-check that the transfer documentation is completed and that your identity is removed from anything remotely linked to the automobile, including third party insurance for your car.

Conclusion

Overall, the best way to make sure that you're protected while selling privately is to be aware of the risks, both to you and to your customer, and make sure you take steps to minimize those risks. As is often the case, if something appears to be too perfect to be real, it most likely is. We hope these tips will help you make a smart decision when it comes to selling your car privately.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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