Do you have a car you want to sell in NSW but feel confused by the options and process? Worry not! We’ve got the solution with a simple and comprehensive guide. We’ll explore six different ways step by step, making the whole process easy and secure. We’re sure, by the end of this guide, you’ll be confident with your option to sell your car successfully, without any worries of scams. So, let’s get right in!
Prepare The Vehicle
Firstly, make sure your vehicle is all set for selling:-
- Clean: Make your vehicle look more presentable and cleaner from interior and exterior both, as a clean vehicle will attract buyers.
- Detail your car: Check if your vehicle requires any maintenance or repairs, even if it’s minor, still consider fixing it.
- Documents: Make sure you have all the necessary paperwork ready, including records of repairs, maintenance, and proof of ownership. This way, you won’t have to rush to find documents when you need them.
- Set The Right Price: Before you sell your car, it’s crucial to understand its market value. This will help you avoid losses and boost your confidence during negotiations. Finding your car’s market value is simple – just check similar cars online, on websites where cars are bought and sold, also you can use online car valuation tools. This way, you can set a fair price for your vehicle
Top 6 Ways: How To Sell A Car NSW
When it comes to selling your used car, you might think you’re limited in your choices, but there are actually plenty of ways to do it. The key is to find the approach that suits you best. Here, we’ve find the top 6 different options for you:-
WAY 1: Selling Car Privately
Selling your car privately can be more profitable than other methods because you’re dealing directly with the buyer, without any middlemen involved. However, it takes more time and effort since you have to find buyers, communicate with them, and negotiate the sale on your own, etc.
To successfully sale your car privately, here are a step-by-step process on how to sell a car privately:
- Find Buyer
First, check if your friends and family want to buy your car. It’s a safe option to avoid dealing with scammers. If none of them are interested, you can then try selling your car online.
Advertise: Take a good picture of your car and post it on your social media or popular car buying websites. Write a description with details like the car’s make, model, year, and mileage.
You can also use old ways like placing ads in local newspapers or on bulletin boards for more visibility.
(Note: Beware of Scammers, Always protect your personal informations: Don’t mention home address or other personal detail)
- Choose The Potential Buyer
Now, it’s time to talk with buyers:-
- Communicate: Respond to the buyer’s inquiries, answer the questions, and try to provide additional information.
- Arrange Test Drive: Always allow buyer to have test drive your car, ensure the buyer has driver licence and there are few things you need to consider for your safety:-
- Schedule test drive in Daylight
- Meet in public areas
- Bring one person with you.
- Accompany buyer when test driving.
When selling a car privately you must have these:
- Photo Identification (NSW Driver Licence or NSW Photo Card)
- A copy of the vehicle’s certificate of registration. (Proof of ownership)
- The vehicle’s manual and inspection reports.
- Complete The Sale
To complete the deal ensure these steps:-
- Sign the papers: Make a document that includes the sale date, agreed price, location and both buyer and seller’s sign. You can find the templates online. Make sure, you both have one copy of that paper.
- Receive The payment: Get your payment in your preferred payment methods.
- Transfer the title: Sign the title over to buyer’s name and ensure to complete other required documentation to avoid any future liabilities.
- Remove licence Plate: Before handing your car to the buyer, remove the licence plate from the car.
- Provide the buyer with Receipt: Provide buyer with the proof of sale, that can be “Receipt.”
Things Seller MUST DO:
- Make sure the buyer has registered the vehicle
- Sellers need to submit a notice of disposal within a given time frame of 14 days of sale.
- Make sure the vehicle doesn’t have any outstanding finance or loans.
WAY 2: Recyclers/ Scrapping
If your vehicle isn’t roadworthy due to any damage or being too old, then selling a car to scrap car buyers or recyclers is the best option. They buy your car and pay you in exchange, it’s also an environmentally-friendly way to dispose of your vehicle.
It involves specific process that is easy, here are the step-by-step guide:-
- Research A Scrappers/ Recyclers:
In NSW, recycling or scrapping companies are quite popular with the names of “Cash for cars Sydney” “Scrap car removal” “Old car removal” you can search them on the internet and you get a list of buyers available in your nearby areas.
- Fill Multiple Quotes
At top results fill out the online Quote form to get the valuation for your vehicle. There are many companies provide free Quotes such as $15,000
- Compare Offers
Once you get multiple quotes, compare the price they offer for your vehicle.
- Choose The Buyer
Choose the buyer wisely instead of going top price, also look for complementary services such as free car pickup, and payment methods.
(Note: Beware of Scammers)
- Schedule Pickup
Arrange a suitable time for the scrap car buyer to pick up your vehicle. Most reputable companies offer free towing services. Make sure to provide them with your proof of ownership.
- Get Paid
Receive the payment in your agreed upon quote offer. These companies pay you in your preferred payment methods.
- Complete the Sale
If everything is completed, then close the deal by getting a receipt of sale. The scrap company will tow away your vehicle to their scrap yard.
Things Seller Must Do:
- Sellers must submit a NOD (Notice of Disposal) within 14 days of sale.
WAY 3: Auction
Auction is another way for selling used cars. Auctions are used to sell various things including cars, and usually held in auctions houses and online both. There all the interested people compete by offering higher prices and the highest bid wins the car.
Here are the steps involves in How to sell a car in Auction:-
- Choose an Auction
Look for your nearby auction houses in NSW, some of the popular auctions are PICKLES auctions, and Sydney Car Auction. You can simply find an auction with the help of the internet.
- Contact Auction House
To discuss the sale of your car, you need to reach out to the chosen auction house. They will assist you throughout the details including: fees, papers, commissions etc. related to the auction.
- Agreed on terms & Price
Now you both (auction and you) need to set a reserve price for your car. If the highest bid doesn’t meet the reserved amount, the car might not be sold.
Reserved price: The minimum amount you’re willing to accept for your car.
- Listing your car
The auction house will list your car for sale at their upcoming auctions. This would be done by taking photos, creating a listing and advertising your vehicle on their websites.
- Auction Day
On the auction day, your car will take place and be presented to potential buyers. If the reserve price is met or exceeded your car will be sold to the highest bidder.
- Final the deal
After selling a car, the auction house takes responsibility to handle the payment from the buyer. They will deduct commissions, fees, and any charges as per the agreement and give you the rest.
- Handover the car
Lastly, you need to provide the new owner with the essential papers including the ownership title and receipt of sale.
WAY 4: Trade-in
If you want to upgrade your old car into a new one then trade-in is a common method. In this way you use your current car as part of the payment of the new car. However, the trade-in value might be lower compared to other selling methods. Here’s step by step process to sell a car through a trade-in way:-
- Know the Trade-in Value
Start with researching the current market value of your car. You can find valuation tools online which usually require a vehicle’s make, model, year, and condition to estimate the trade-in value.
- Research Dealership
Next, find potential dealerships that accept trade-ins. You can search for “Trade-in” on the internet and there are lists of dealers available.
Ensure you visit the dealership with your car, title and documents. It’s a good idea to get trade-in offers from multiple dealerships to ensure you get the best deal.
- Get Trade-in Offers
When you have chosen the dealer, their team will inspect and evaluate your car’s condition and give you a trade-in offer. This offer will be based on their assessment and the market value.
Be confident to negotiate with the dealership, if you believe you can get a better deal. Compare the trade-in offers you’ve received and use this information to get the deal in your favour.
- Use Trade-In For Your NEW vehicle
When both dealers and you agree on the offer, you can use that for your trade-in as a down payment (Partial payment) on the new vehicle you would like to buy from the same dealership.
- Complete the Paperwork
Now, you’ll need to fill out paperwork to transfer ownership of your old car to the dealership.
- Finalise the Deal
Lastly, make sure that all the details, such as the trade-in value and the cost of the new vehicle, are clearly mentioned in the sales contract. Complete the purchase of your new car.
Things Must Do:
- Ensure you Cancel Insurance
- Notify the “Transport for NSW” to help prevent future liabilities.
WAY 5: Consignment Sale
Selling a car through consignment might seem complicated at first, but it’s not as tricky once you understand how it works. In New South Wales, Australia, only licensed dealers can sell vehicles on consignment. The dealer doesn’t own the vehicle, instead owners leave their car with the dealer to sell it to them. It allows dealers to sell cars from both the public and other dealers without much expenses. Now, let’s make it simple:-
“Consignment Agent: The person (Agent/ dealership) who sell car on your behalf (Involves:- Seller, Consignment agent, buyer)”
Here are the steps to follow on how to sell a car through a consignment sale:-
- Find A Reputable Consignment Agent/ Dealer
Look for the licensed consignment agent or dealership that specialises in selling used cars. Check for their reliability, review and recommendations.
- Contact The Consignment Agent
Reach out the potential consignment agent to discuss the term and conditions of the consignment agreement. Make sure to ask their fees, services and policies.
- Create the Consignment Agreement
If you are selling a car through consignment, the motor dealer or a consignment agent should have agreement between both parties that includes:-
- Both parties’ names and addresses.
- Vehicle’s description
- Agreed amount to be paid to consignor (Consignment agent)
- Details of any financial obligation or liabilities on the car
- The agreement period
- Direction and distribution of money earned from the sale.
- Must have trust account with a bank in NSW
- Keep trust account audit records, including:-
- deposit book
- receipt book
- Complete Necessary Paperwork
Make sure your all required papers are in-order and up to date, including the vehicle’s title, service records, and any warranties. Also check the vehicle is in good condition.
- Handover The Vehicle
Now it’s time to handover your car to the consignment agent. They probably inspect it, take pictures and complete any other details.
The Consignment Agent Step By Step Process:
- Marketing and Advertising: It depends on the consignment agent, how they want to sell your car either public or to dealers. The agent will advertise your car for selling and communicate with potential buyers.
- Negotiate Offers: When the buyer is interested, the agent will negotiate on your behalf. You will also be consulted for that, and you can either accept or decline.
- Sale and Settlement: Once the deal is close with the buyer, the agent will handle the entire process including:- paperwork, payment, and transfer ownership.
- Finalise the Sale: After completing the sale, the consignment agent will deduct their agreed upon commission and other expenses. Then provide you with the rest of it.
Things Seller MUST DO:
- Inform your insurance company that you’ve sold your car, also transport for the NSW department. It will help you prevent any future liabilities.
- Make sure you received the money within 14 days from the trust account.
- Ensure you have a copy of the consignment agreement, and know any extra charges or fees.
- Consignment agencies or dealers usually provide insurance for your car while it’s in their care during test drives.
- Know your vehicle’s value, don’t be tricked by the dealers offering you unrealistically high prices.
- Get an update from a consignment agent or consider visiting to ensure they’re actively dealing with potential buyers.
- Don’t forget to take a picture of your car and note your vehicle condition before consigning it. And if returned then inspect it for any damages then inform the agent or dealer about it.
- Put the money earned from selling the vehicle into a trust account within ONE day.
- Inform buyers about all costs during the consignment period.
WAY 6: Selling To Dealers
Selling a car to dealerships is another popular way in NSW, it generally involves a simple process. Here are the steps including:-
- Find & Contact the dealers
Find dealerships that are reputed and known for buying used cars. You can easily find dealerships online on the internet or can ask your family and friends if they have any recommendations.
- Schedule Appointment
Contact multiple dealers for a better deal, after receiving the different quotes from various dealers, consider scheduling appointments with potential ones. This step allows dealers to check the condition of your vehicle and provide you with a more accurate offer.
After inspecting your car, the dealer will make an offer. If you’re not satisfied, you can negotiate the price if you believe it’s lower than the market value. However, be prepared and confident to provide reasons for your asking price based on the condition and features of your car.
- Get Paid
Next, the dealer will pay you the agreed payment through any of your preferred payment methods such as check or bank transfer. Make sure you receive payment before transferring vehicle’s ownership.
- Complete The Paperwork
Paperwork is one of the crucial steps, to ensure complete necessary paperwork such as sign over the title, receipt of transaction etc.
- Handover The vehicle
Once each step is completed, hand over the keys and ownership papers to the dealership.
The Important STEP
These are applicable for all the methods of selling:-
- After selling your car, always remember to notify your insurance company and the Transport for NSW, that you’ve sold your car. This will help prevent any future liabilities or issues.
- When you sell a used car, you need to submit a notice of disposal (NOD) within 14 days of the sale. Even if you’re a private seller.
- Do not sign any papers without reading it carefully and do not transfer the ownership of your vehicle before receiving your complete payment.
In this guide, we’ve outlined some popular methods for selling a used car in NSW. Keep in mind that the process may differ depending on your location and the terms of specific dealers or auctions. These are straightforward guidelines to help you become familiar with each method, avoid scams, and effectively sell your car in NSW. Best of luck with your car sale!