How To Sell Your Car To Family And Friends Safely
Selling your car to a family member or friend is often considered a quicker and safer way to sell your car. After all, there’s an already established trust that adds to the layer of assurance every seller needs. However, it doesn’t always end up well for some sellers. History has shown that human deception knows… View Article
Selling your car to a family member or friend is often considered a quicker and safer way to sell your car. After all, there’s an already established trust that adds to the layer of assurance every seller needs. However, it doesn’t always end up well for some sellers.
History has shown that human deception knows no boundaries or family ties, and scams that involve trust are usually done by people closest to you. How do you protect yourself against trust scams when selling your car to family or friends?
Here’s how to sell your car to family and friends without getting scammed:
1. Tag along on a test drive
You are a grownup with a very busy schedule. It’s tempting to just drop the car keys at your family/ friend’s place so they can do a test drive at their convenience without disrupting your day’s plans. Resist this temptation!
While there’s minimal risk of family or friends stealing your car, they may exaggerate the car’s problems to try and knock down the price. The car might also develop a problem during the test drive and they’ll want to pass it as a pre-existing issue. You need to tag along on the test drive so you can discuss any issues they notice. You also need to ensure that they are not using the car to run their errands under the guise of a test drive.
2. Insist on a sales agreement and a witness
A handshake agreement makes the sales process faster and reduces the amount of paperwork you have to deal with. But that’s also how you lose your car, money, or both! Always insist on a sales agreement and a witness when selling your car, whether you’re selling to someone you know or a stranger. As they say, it’s nothing personal, just business.
Proper documentation ensures that everything is done above board and the buyer can’t turn later and try to shortchange or arm-twist you.
3. Do not back down on your expectations
Family and friends often know your financial status. But you want to sell your car for the best price. You therefore shouldn’t expect any less just because you’re selling to family. “Family discount” doesn’t mean selling your car for half of it’s worth. Let them know that you’re willing to sell your car to someone else if they won’t match your valuation.
Remember to stick to the terms of the sales agreement once you agree on a price. Payment should be made to your bank account (for security purposes). If they’ll be paying in installments, clearly outline the payment plan and means of recovery should they default. In case they’re buying the car through financing, refrain from accepting involvement with any third-party lender.
4. Be honest and transparent
Selling your car is largely a trust-based transaction. You shouldn’t give the buyer a reason to think you are shortchanging them, regardless of whether they are family or a stranger. But you should even be more open with family because distrust can sour your relationship beyond the transaction. If you expect honesty and transparency, you should be ready to offer the same.
Disclose any issues ahead of time so that they don’t suffer any unpleasant surprises on the road.
Sell Your Car Safely With Peach Cars
Selling a car demands considerable effort and attention to detail. The risk of falling victim to scams is equally high, whether dealing with acquaintances or strangers. We make it easier for you to sell your car securely and conveniently. We vet buyers, handle viewings and test drives, and oversee negotiations so you don’t have to be fearful and distrustful when selling your car.