Looking to sell your car? Here's a caveat: remember, you are entering a seller's market -- unless, that is, you are Sachin Tendulkar trying to sell the Ferrari Modena.
Yes, this is the age of the wily buyer who will come with a mechanic in tow and spend hours turning your car upside down before negotiating a price and will think nothing of walking away empty-handed after bargaining hard for hours.
So the first thing to do is to get a feel of the used-car market.
"Most sellers are blinded by sentiment and the prices they ask for are often determined by the their own perception of how good the car is and not how good the market would think the car is." said a leading used car dealer.
A good game plan would be to approach a used-car dealer as a buyer and ask for a price at which he will sell you a car of the same make and specifications as yours.
Revise that price downwards by at least 10 per cent and then you have a realistic asking price for your car.
Once you have a price in mind you have to get the car ready for its big test.
Here's are a few things -- all equally important -- that you can do to get the best value for your used car:
- Get all the paperwork in order, the registration book with the road tax certificate, the service record, the insurance papers and the PUC (pollution under control) certificate.
Throw in a no objection certificate for an out-of-state sale. Keep all service and repair records with the car, that seemingly uninspiring piece of prose can inspire a lot of confidence about the maintenance of the car.
- Spend an entire Sunday afternoon getting your car ready for the big day. You can start with getting it washed and serviced fully. Pay special attention to the otherwise ignored under-bonnet area.
- Get the oil changed. Old oil from the dipstick indicates negligent maintenance.
- Get the diesel filter cleaned, if it's a diesel car. A smoky car will drive away the bravest of buyers.
- Get all vital fluids topped up, especially coolant and windshield-wash.
- Clean up the battery terminals and apply Vaseline. White residue on the terminals is a telltale sign of careless ownership.
- Replace worn floor mats and remove old seat covers. What lies beneath is definitely more appealing to any buyer.
- Get the interiors and upholstery spruced as best as you can. Pay special attention to the way your car smells. Any prospective buyer will turn up his nose when he catches a whiff of the musty, lived-in smells emanating from your car.
- If tyres are badly worn out, replace them. The investment will definitely pay off when the prospective buyer stoops down to check the tyres and makes a mental note of the money he will save on getting new tyres.
- Unless you are facing potential bankruptcy, get nicks and dents sorted out and the paint touched up as professionally as possible. No one wants to pay for someone else's history of bad driving.
- Pay attention to minor details, replace broken, worn or rusted-out odds and ends, lights, wheel covers, wipers etc. Your buyer doesn't have to be a connoisseur to detect a broken headlamp.
- If you are a little sensitive, you can make the prospective buyer feel like a king. Hand over a shiny set of spare keys to him, the worn-out original can be handed in after the deal has been signed.
- Don't act cheap and strip the car of all the extra-fittings you added to it over the years. Let the speakers and the central locking stay, at least for aesthetic reasons. Pulling out speakers and other such added-on accessories leaves unsightly, gaping holes around.
- An efficient air-conditioning system is top priority.
- Ensure smooth rolling up and down of windows and shutting and opening of doors. Not too many people look at opening doors and windows as great muscle-building exercises.
- Spend a while with the mechanic and get all those little rattles and squeaks completely eliminated.
After a long list of Dos, here is the only Do Not:
- Do NOT fiddle with the odometer to make your car look any less travelled than it is. If your prospective buyer is accompanied by a hawk-eyed mechanic, chances are pretty good that your little deception will be uncovered soon.
Be honest about the mileage done. As the cliché goes, it pays to be honest.
Dump the pick-ups!
Please don't ignore the above list just because you can trace your lineage to the land of Persian carpets or because you are in the life saving business.
A 'Parsi-owned' car or a 'doctor-owned' car are just a couple of mythical pick-up lines that no prospective buyer will take seriously now.