Four Simple Security Considerations To Think About When Selling Your Car
If you’re considering selling your car, one of the decisions you’ll have to make is how to sell the car. Our previous article covers how you can sell your car quickly and the platforms for selling your car in Kenya.
Selling your car on your own can be quite scary, but it doesn’t have to be. Taking the right preventive measures can help you stay safe while dealing with prospective buyers for your car. If you’re hoping to turn your car into cash without being a victim of fraud or robbery, this guide will help you to complete a smooth sale.
Tips for Selling Your Car Without Getting Scammed or Robbed
Safely selling your car involves taking precautions when advertising your car, meeting with potential buyers, and finalizing the transaction. You’ll want to be prepared for most, if not all, possibilities. Make no mistake, chances are you’ll get inquiries from scammers and criminals. It’s just a part of what happens when you’re selling your car privately.
The most effective way to minimize your chances of interacting with crooks is to know how to screen prospective buyers. These are the tips for selling your car without getting scammed, robbed, or worse…
1. Contacting Buyers
When contacting potential buyers, always avoid giving out personal information like your home and work address, your daily schedule, or information about yourself that isn’t relevant to the sale. Screen each inquiry in detail before you decide to proceed with a particular buyer.
Some of the questions you can ask to determine whether a potential buyer is genuine or a time-waster/ crook include:
- Their full names and identification documents (passport or ID)
- Where do they come from? It’s a huge risk to drive your car from Nairobi to Busia for a sale.
- Do they want to see the car? Crooks will mostly make you a quick offer (sometimes above your asking price) without first looking at or test-driving your car. It’s a trap!
- Why are they interested in buying your car?
- How do they plan to pay for the car?
2. Meeting for Viewings and Test Drives
This is the biggest point of vulnerability when selling your car. You need to know how to do these meetups safely and effectively. For starters, always inform a family member or friend that you’ll be meeting a prospective buyer, where you’ll be meeting, and how long you expect the meeting to take. If possible, tag along a witness.
Propose a specific day and time for the meeting without disclosing your movements and habits and meet in a public place. You should also only bring essentials to the meeting: the car key, your phone, and maybe a copy of the logbook. Don’t carry the car’s original logbook to your first meeting. Agree on a specific route for the test drive (not an isolated road) and how long the test drive will last.
3. Completing the Transaction
You’ve met a seemingly genuine buyer. Everything about them checks out and the test drive went well without any red flags. You’re entering a very crucial stage in the process of selling your car- agreeing on a price and completing the transaction.
The allure of finally getting your hands on the money can have you slacking off. But you need to be more vigilant at this point or else you may lose your car and the money.
First, never agree to be paid in cash. It is a major security risk. You’ll also need to explain the source of your income if you do a bank deposit of over one million in cash. Not to mention that you won’t be able to verify that none of the bills are fake notes! If you’re getting paid via a cheque, don’t transfer the logbook until the cheque clears too.
Refuse any requests to accompany the buyer to another location to withdraw or make a wire transfer.
4. Maintain a Paper Trail
It’s good practice to properly document every transaction when selling your car. Have a sales agreement signed by both parties, clearly outlining the terms and conditions of the car sale. You can also have a checklist of accessories in the car. Some scammers wait until the transaction is complete and then hit you with a lawsuit for something that wasn’t documented.
Maintaining a paper trail will ensure you’re not held responsible for anything that happens to the car after the sale.
Pro tip: remember to cancel your insurance for the car so that the buyer can take up their own (you might be eligible for a premium refund.)
What To Do If You Suspect Fraud When Selling Your Car
If you suspect you’re dealing with a criminal buyer, the first thing you should do is make a police report and obtain an OB number and abstract. Especially if you have evidence that they’ve tried scamming you or your life might be in danger from dealing with them.
You should also do the negotiations in the presence of a licensed lawyer so all your bases are legally covered.
Additionally, alert your bank if you had deposited a cheque from the buyer. Let your bank know that you’ve filed a police report and they should advise on how you can protect your account. If a cheque bounces, you may also be liable for a penalty.
Most importantly, call off the deal whenever you suspect fraud. As they say, it’s better to be safe than sorry. Don’t ignore any red flags that you notice at any stage of the transaction.
Sell Your Car Securely Through Peach Cars
Find these too much for you? You can sell your car securely through Peach Cars. We will screen all prospective buyers for you so you don’t have to put yourself at risk. All viewings and test drives will be handled at our premises. You won’t have to worry about inviting intruders into your home or driving your car into unfamiliar territories.
We make it easy, secure, and convenient for you to sell your car in Nairobi.
