I've had my 2000 Fiesta on sale in Autotrader for about three weeks now. I've already had one Nigerian scam email about it, and without wishing to sound racist, a lot of phone calls from dodgy-sounding people with poor English.
If you look around online you'll find a lot of guides for what to look out for when buying a second-hand car, but very little if you're looking to sell one. This is my first time selling a car and I'm not sure what I should be wary of. I had a phone call just this morning from someone who wanted to see the car, but after giving him my address didn't specify a time when he'd be visiting. Should I be worried?
Something that's particularly vague to me is the issue of test drives... do I need to ask people for their insurance documents before I can let them test it, because I don't think my insurance covers that.
Thanks for any advice!
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When someone calls and wants to see the car specify a time for them to come and jot down their name and number -"just so I can save you a journey if it sells before you come".
Never let anyone drive without seeing their insurance unless you have a traders policy.
If you are out of the car, always have the keys in your hand.
Anyone who calls from a number withheld number, simply ignore.
Unfortunately you will get calls from people who ask daft questions about the car, including details that are already in the advert, but keep the chat light and positive. You never know who is likely to buy.
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Thanks for the advice guys.
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The good thing is you're not selling a car likely to be desired by professional thieves or people who want to come around in the wee small hours and steal it, so giving your address isn't likely to bring you any problems.
You should either ask for insurance details, or take the full amount in cash before you let anyone drive it. That said I've never done it, and neither have I been asked to when buying privately. If the worst happens and they smash the car up though, you could be in deep do-do if they are uninsured and won't pay up. It's your call, and only yours.
The Nigerian scammers are a pain in the wotsit. Basically don't accept anything other than a straightforward buyer who phones, makes an appointment, turns up, and either buys it outright, or leaves a deposit in person. Anything involving agents, shipping companies, credit transfers, cheque balance forwarding etc will be a con of some description. Anyone offering the asking price without even seeing the car is either an idiot, or a con-man. Ignore them.
If someone wants the car but decides to come back, take a cash deposit of at least £100, and give a receipt (hand written is fine, with details of the car, reg no and VIN no).
Take payment only in cash, bankers draft (these can be checked for authenticity with the issuing branch by phone), or bank transfer from another UK bank. If it's a transfer, don't hand over anything until the funds are confirmed cleared. No legitimate buyer will mind. Your branch or telephone banking service will be able to confirm the transfer, and once it's confirmed and cleared. The banks are very helpful in my experience with this stuff. Just call them, they won't mind.
When the buyer picks the car up, write a receipt for payment, with all car details. The receipt must contain:
Buyers name and address
Your name and address
Full description of the car (i.e. red Fiesta 1.x blah, reg number blah, VIN number blah)
The sale price
The words "received in full payment" and "sold as seen"
It should be signed and dated by you, and the buyer. This is important if the new owner trips a speed camera or picks up a parking ticket before the DVLA change the keeper details on their database.
Do two copies of the receipt, give one to the buyer, and file your copy away somewhere safe.
It's nothing to worry about, as long as you accept that you will inevitably have to suffer a few timewasters / no-shows. Also ensure you cover yourself with all the paperwork, and get the V5C off to DVLA with the new keeper details without delay.
Edited by DP on 15/10/2009 at 13:33
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Worth advertising locally too and get an ad in the window to reduce your exposure to scammers. Popular car, just outside scrappage scheme time limit so if it's presented properly it should sell quickly.
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Great tips DP, thanks a lot!
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Make sure your house keys aren't on the car key fob in case they steal it.
If you go out for a test drive make sure its not you against two or three blokes. There's no need for a potential buyer to bring all his mates along unless its a dad with his 18 year old son.
Edited by Mick Snutz on 15/10/2009 at 14:53
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Good advice from DP, but I would query one comment:
>bankers draft (these can be checked for authenticity with the issuing branch by phone)
I think you'll find banks are now refusing to do this for (probably misguided) reasons of data protection. Just last week, my bank refused to confirm to the seller the authenticity of a corporate cheque, which I had drawn from the bank as a 'buyer'. There's so much fraud around, and we are all so suspicious, that exchanging car for payment has become quite difficult. Both buyer and seller are entitled to be cautious. In my case, the seller did not want cash, unless handed over at her bank (which was not very practical) and did not want to provide her bank details for a CHAPS transfer....
What do careful folk do these days??
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Just a question regarding insurance:
Notwithstanding damage to the seller's car, what if a potential (insuranceless, licenceless?) buyer causes serious damage or harm to someone else. Can the seller be sued or prosecuted for allowing the test pilot to drive?
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