Owners of used cars trying to sell their vehicles locally or in different parts of the world – there’s indeed some light at the end of the tunnel for you. If you cant find a lucrative deal with your local buyers, you can turn to overseas buyers for selling your used cars, and as opposed to what you are thinking, it is quite simple.
The market for bigger cars, such as SUVs and vans is stronger in regions like South America, Central America, and Russia.
However, it’s wrong to believe that the foreign market is always going to pay you more for your used car as compared to what you are getting in the US, but it is worth giving a shot.
The demand for used cars from the United States is more in countries like Germany, Ukraine, Russia, and Nigeria. It is because vehicles from the US are believed to be in better shape as compared to used cars in other parts of the world.
American people are considered more careful about the maintenance of their car. Moreover, since our roads are also smoother as compared to other countries, the wear and tear over the years is comparatively lesser. When people are planning to sell their car, they become more conscious of its maintenance to lock a better deal.
So if you have been planning to sell your used car in a different country or region, here’s what you need to know:
Finding an international buyer
eBay is a hot place to sell your stuff to buyers from around the world, and it’s not different for used vehicles. The idea is to find your overseas buyer on eBay and other similar platforms, where you can buy sell car online.
There are various other platforms where people do similar transactions. Hence you have to be actively present there to find a lucrative deal.
The language barrier is considered a primary concern for such transactions. However, more buyers from overseas – including Europeans – can write English well enough to lock a business transaction.
In short, secure your online space and stay more active to attract more buyers to buy your used vehicle.
Negotiating the price
It’s natural to be a little nervous and skeptical about selling your car overseas. After all, a car is a pricey asset that you don’t want to risk. Therefore, you must discuss the transaction in detail and agree on payment details.
Creating a margin between your ‘asking price’ and ‘negotiable price’ is imperative. Your customers will eventually ask for negotiations. Also, be clear with your ‘buy it now’ price. Don’t forget to incorporate factors like shipping the vehicle when finalizing an overseas transaction for your car.
Don’t involve yourself in any deal where the price is not paid up front. Ask for the entire amount right away. While the other party may be hesitant in doing so, you can offer them other guarantees to ensure you will arrange everything from coordination to shipping of the car once the payment is received.
Most people from overseas buying their car from the US will have their people come, inspect the vehicle and even take the responsibility of shipping. Only consider options where the risk of fraud seems minimum.
What to expect
Your price will reflect the exact condition of your car. In fact, this is a significant factor you need to put into consideration when deciding the asking price. This is the key to getting a payment close to it.
Also, compare the price with the native currency of the country where you are selling your car. For countries where dollar price is high, the amount you get can be pretty impressive. Moreover, consider upgrading your vehicle before you set it up for sale. The cleaner and more upgraded your car is, the better price you can get.
Take your car for expert inspection
To avoid last-minute trouble and embarrassment, make sure you promise only the facts with the buyer. Don’t show too good of a picture to raise expectations. Since most of the transaction will take place online, it is essential that you are well-aware of all the technical details about your vehicle to answer every question from the buyers.
To keep yourself upgraded, consider taking your car for expert inspection. Not only will this provide you a better idea of your car’s condition and its worth, but it will also make your transaction with a foreign buyer smooth and successful.
Handling the deal head-to-toe
Managing the payment and delivery right is crucial for the whole process. To keep yourself on the safe side, use an account with little or no money present. After you receive the money, transfer it to another account right away. It will save you from the potential risk of theft and fraud.
The buyer will pay for everything from the pickup to the final delivery in his/her country. Once the vehicle’s shipment is cleared, your work is done. Another primary concern is the transfer of ownership. Before the car is shipped overseas, it essential to ensure that the title of the car is off your name already.
Always remember to get a copy of the bill and dock receipt for documentation purpose. After the car has been sold and exported, the sales tax implemented on the asset dissolves too. These documents are also necessary to keep in case the vehicle is returned to the United States. These documents will testify that the car left the country after full clearance.
It is best when the buyer is willing to arrange all the shipment procedures by themselves. However, that’s not always the case. Sometimes, they will ask you for the favor. In such a case, you should do all your research before committing anything. Also, get estimates for the overall cost so you can charge a fair amount for the shipment procedure from the buyer.
Once the shipment is carried out successfully, your liability as a seller is over.
Taking proper precautions is as important as finding the right overseas buyer. Just looking at someone’s profile doesn’t guarantee you a smooth, successful deal. By following these useful tips above, not only can you find a good deal but you can also close a lucrative transaction.
So widen your options and look beyond your own country when finding the perfect buyers for your used car.
About Michelle Joe: Michelle Joe is a blogger by choice. She loves to discover the world around her.
She likes to share her discoveries, experiences, and express herself through her blogs. You can find her
on twitter: @michellejoe524Buy and Sell Bitcoin in Nigeria - Register for free on Luno
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