With digital services that we have today, buying or selling something online is a simple process. When it comes to the car industry, there are new models of vehicles introduced each year, which is the main reason why so many people would choose to replace their car with a new one after only a few years.
The demand for used vehicles is great as well, and there are many online platforms like eBay, where you can see numerous ads about vehicles and other products. On the other hand, you have to familiar with all the important factors that are related to car trading and the price you should ask for it. Also, you can click here to visit a website especially for car trades, and sell your old vehicle in last than 1 day.
Furthermore, besides the factors that could affect the price, you should also be aware of potential risks. The big issue is related to online trading, where you are not in public contact with the person that is interested in your vehicle. Therefore, you must know how to safely sell it without additional problems. Here are some important tips for safely selling your car online in 2020.
1. Beware of the Scammers
Unfortunately, there are many cases where frauds managed to trick people into giving them their vehicles without any compensation being realized in the end. For example, if you notice that someone is offering you a much bigger amount than you are asking for, think twice before heading into contact with that person.
You should learn more about safe methods of payment and avoid any alternative ways that could lead to a scam. Always ask for a contract, which can be signed online as well, and avoid cashier’s checks, because there is a possibility that those checks could be fake, and it can be late until you realize that you fall into a scam.
While cash represents the safest possible method of payment, there is always a possibility of getting fake bills. Therefore, you should ask a buyer to transfer the money from the official bank account and sign the deal with him only after you see that amount on your account. The best way to avoid all these potential frauds is to set your demands related to the payment process, and if you see that someone would like to alter them in any way, that might mean that the person is trying to trick you.
2. Avoid Fraud Claims
The main issue with online trades is that the product you bought is not what you asked for, or it is not what you saw in the ad. On the other side, someone could claim that something you sold is not what he paid for, even if you are sure that the description of that product is completely reliable.
When it comes to vehicles, there are some cases where buyers are asking for compensation for some malfunctions that occurred after you sold the car. However, you should know that any inconvenience with the vehicle after you sold it is not your responsibility.
On the other side, you have to be honest about the status of the vehicle when you are placing an ad to sell it. That way, you can avoid any claims that you scammed someone. Furthermore, you should learn about legality in every state and about all factors that could lead to the fraud claim. Also, prepare all valid documents related to both transfer and the vehicle along with the service book, car title, registration, and more.
3. Cash is the Safest Option
There are multiple methods for the transfer of money. However, cash is still the safest choice because there is a much bigger chance for fraud with other methods. We advise you to meet the buyer near some bank and place the amount on your bank account right after you get it.
Another common payment method is a personal or cashier’s check. People choose this option because they are afraid or just don’t like to carry a lot of money in their wallets. The main issue with checks is that someone could give it to you, but if he has no money on the bank account, you won’t be able to cash it. In the end, you could end up without both car and the money.
In case that a buyer is offering an escrow payment as an option, be sure that you are the one who chooses the escrow service. There is no risk in this method when you are using official services from well-known banks. Nonetheless, someone might ask you for a payment plan, and we advise you to always reject this option, especially if you want to sell your vehicle in a short period.
The best way to avoid any potential fraud is to follow the official law about selling products online and to provide the necessary documentation. Signing the contract about the deal is the proper method that brings increased safety because you can sue anyone who manages to scam you. Moreover, you should not allow anyone to create copies of documents or even to take a picture of them. You are obligated to describe the vehicle in the real condition, which is the best method to prevent anyone from making fake claims.
Nevertheless, avoid inviting unknown people at your home to give them your vehicle for a test drive. It is much safer when you meet at some public location. Also, ask for some valid documents before you handle the keys to that person, to prevent him from driving off and not returning with your car before paying you. As you can see, selling your car privately could bring all sorts of issues, and you can only get a slightly higher price than when you choose to sell it to a company specialized for the purchase of used vehicles. Therefore, online service like Carsome might be the best solution if you want to quickly sell your used car.