The 7 Dangers Of Selling Your Used Car Privately
1. You Have Strangers Coming over to Your Home
Not speaking to strangers is the first rule of safety that most parents teach their children. This lesson remains of good use for the rest of our lives too. However, while selling your car privately, you will have to let go of this precaution. You will have to be open about the idea of strangers coming over to your house as they might be potential buyers.
2. Making Personal Information Public
When you put your car up for sale, you will have to provide some of your personal information on public forums. This is done to inform most people about the sale of your car. However, your personal and contact information becomes a matter of general knowledge, and hence, even trouble makers have access to it.
3. You May Be Held Liable Even After Selling the Car
The dangers of selling a car privately are not limited to the time until you sell the vehicle; they may continue even after the sale. If the buyer does not report the change in ownership of the vehicle in the DMV department and fill in the necessary paperwork, another person could be driving a car that is still registered under your name. This means that you will be held accountable for whatever happens to your car.
4. Driving Your Car from Place to Place to Sell It
You may have decided to sell your vehicle to save you from the harassment and expenses of owning a car. Unfortunately, when you try to sell your car privately, you have to take all the responsibility attached to it. You will have to drive your vehicle from one location to another to get rid of it. In addition to that, you also have to bear the cost of fuel and spend time driving all around the place.
See: Thinking About Buying A Used Car
5. Safe Payment
When you deal with a buyer on your own, you have to be the judge of their character and make important decisions about the payment procedure. Car dealerships that provide such services have many years of experience in this field of work. Why they are easily able to spot fraudulent buyers. Private sellers may get trapped in fraudulent deals and unsafe payment methods.
6. Your Car Value Depreciates Quickly
The amount of used cars goes lower with every passing day. A private seller takes more time to sell their vehicle. This means that the value of the car depreciates in no small extent. Thus, when the seller can sell the vehicle after approximately 30 – 60 days, the seller does not make much of a profit from the deal.
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7. Car Thieves May Pose as Potential Buyers
Since you are dealing with strangers, there is a high possibility that car thieves may pose as potential buyers. These thieves may win your trust and behave like genuine buyers. However, in the end, they might flee with your car leaving you with a vehicle and without paying you anything for it.