Tuesday, June 02, 2020
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Car loan: 5 things to know before reselling your car

Preparing for the sale of your car means knowing the market in which your vehicle is positioned.

In which price range does it evolve? Is this a vehicle sought after by collectors or is it just good for scrap? So many questions to ask yourself before putting it on sale.

1. The general appearance of the vehicle is essential

1. The general appearance of the vehicle is essential

Taking care of the exterior and interior appearance of the car is imperative before the sale. Two options are available to you: either you do the cleaning yourself, or you call in a professional who will make your car “like new”.

This may save you from wasting a lot of time and buying expensive cleaning products. For that, do not hesitate to compare the costs.

2. Take stock of your mechanical maintenance

2. Take stock of your mechanical maintenance

Your vehicle must meet the requirements of the service book. Check the date of the last oil change and the condition of the filters, air conditioning, brakes, battery. Then check the wear on your tires by gauging the wear indicators with a dedicated tool.

The proper functioning of all lights is mandatory: dipped beam, brake, turn signals, without omitting the interior spotlights. Pay attention to the state of the starter. Nothing worse than a car that does not start during a test! This will scare the buyer away.

3. Leave no stone unturned

3. Leave no stone unturned

Be careful with the operation of the radio and its reception. If the repair or change of a radio device represents a significant sum, this is not the case of an antenna which changes in a few minutes in a garage. Why not take care of this detail?

Isn’t the vanity mirror cracked? Does the sun visor accomplish its mission? Do the windows lower and rise normally? You are ready to sell your car.

Good to know :

With the money from the resale of the vehicle, you can buy another one. And if the car of your dreams costs more than your old car, you can take out a car loan.

For the best loan terms, do not hesitate to call on an auto loan broker.

4. Determine the sale price

4. Determine the sale price

The Argus value of your vehicle depends on many factors that are difficult to grasp: model, options, origin of the vehicle, obsolescence, mileage. But you get a base price. You will be confronted with that of many professionals who buy used cars following a free online estimate.

If the price seems reasonable, take it as an indicator. No more. During an appointment at the company’s garage, their manager will validate this rating up or down. If the price is right for you then sell your vehicle immediately. You will be paid by bank transfer or check within 48 hours.

5. Prepare the right papers

5. Prepare the right papers

The compulsory documents can be downloaded from the website of the Ministry of the Interior. The only deadline to be provided concerns the technical inspection of the car in the case of a sale to an individual. It must not be older than 6 months. If you are selling to a professional, there is no need to prepare all these administrative documents.

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