Step 1: Know the value/worth of your car

Having a realistic approach to know the value of your car is quintessential and is the major milestone to get you the best deal. You should neither undervalue your car nor have high expectations.

The real market value not only depends on vehicle's model year, brand, grade, mileage, and overall condition but also on the market demand for your car. If your vehicle scores low on above parameters but is in high demand, you may expect to have a straight benefit. Other important aspects that may matter to the new buyer may be the cost of ownership – which is a combined measure of factors like fuel economy, availability of essential parts and cost of general maintenance. Higher the cost of ownership as perceived by the buyer lower will be your selling price.

Various sources for you to establish a realistic value for your car may include:

Classified ads in News paper

Used car dealers

New car dealers

Facebook car selling groups

Websites for Buying & Selling

By referring to these sources and a little researching on how same or similar cars like yours are being sold will give you a fair idea on the realistic value of your car.

Step 2: Choose the best way to sell your car

Don’t sell your car in a rush, as usually most sellers do. Your patience is valuable and can fetch a much decent deal. Having established your realistic price now it’s time to decide on the best possible options to sell your car.

Sell to a used car dealer: This is a fast way to sell your car and get a fair price. However if you intend to sell your vehicle to a dealer, it isn't wise to take the first offer you are given unless it is right on the money based on what you believe your car is worth. You may be required to visit few dealers (at-least 5) in your vicinity and compare their offers, before you settle for the best.

Trade-In your Car: If you are planning to buy a new car trading in may be a good option. However a word of caution is that you should not get into the trap of Four Square Technique albeit negotiate each aspect of your deal (i.e new car price, Down Payment, Monthly payments and Trade-In value) separately to be a winner.

Sell to an individual buyer: This method by far is considered to be highly rewarding as per industry experts. However it involves lot of patience, dealing with strangers, and uncertainty of deal being honored by the buyer.

No matter how and where you sell your car, there are a few tips you can follow to maximize your return. First, make certain your car looks good. Wash it, wax it and do all you can to give it great "Sparkling Looks." You want the prospective buyer — be it an individual or a dealer — to want that car. Looks matter.

Qualify Prospects well

Every person approaching for your car may not necessarily be a prospective buyer. You must qualify them on certain minimum parameters and filter the ones who deserve to be the next owners of your car. Parameters like their expected budget, whether they are planning a bank finance, how much awareness & liking do they have to the brand/grade you are proposing, may form the basis of your judging and qualifying prospects.

Keep your dealing safe

Personal meetings with strangers may be unsafe. If you are going to meet someone to give them a look at your vehicle, do it in the safest manner possible, meeting during the day at a public place that is frequented by other people. Feel free to ask the prospective buyer how they plan to pay for the car to make certain that they are serious. If you have any questions about them, don't meet with them. There are other buyers out there.

Assure Yourself of Proper Payment

If you decide to sell your vehicle to an individual, accept only cash or a cashier's check in payment. You are wise to close the transaction at the bank that issued the cashier's check. Never accept a personal check under any circumstances. Once you have made certain that the cashier's check is good, you can sign over the title of the car to the buyer and let them take possession of the car.

Fix It or Disclose It

If your car has obvious mechanical problems, you need to address those either by getting them fixed or simply pointing them out to the prospective buyer. While a private party might want a car that has no problems at all — don't we all? — dealers will typically expect the car to have some mechanical issues. The fact is, they have the ability to repair those faults much less expensively than you do, and they expect to do some vehicle prep before they retail the car on their lot. So, if you are going to sell your car to a dealer it is much less important that the vehicle be in near-perfect condition.

Let your Car Sparkle

It’s no rocket science to realize the fact that a well-kept and sparkling car will attract* the prospective buyer’s attention, especially if he has seen similar vehicles which were not so clean.

Believe it or not, this simple fact works as a magnet and builds an invisible bond with your car, which will beyond doubt lead the buyer to yearn for owning your car. Few of the highly recommended and economical ways you can effectively utilize to enhance your car looks are described below. This ensures striking a much profitable deal with minimum convincing.

Should it not be worthwhile for you to spend time and a little money on your car detailing and giving it an attractive look inside out. Specific focus needs to be given to the condition of the floor mats* - clean them* or replace them * if need be, clean up the Engine compartment*, with Red Penguin Engine* Compartment Cleaner*, exterior trims,* upholstery & door lining*, bad interior odor,* wheels-caps/rims & tires*, body paints by at-least washing & waxing* and finally the storage compartment. * (paid links).

Repair & Maintenance Records

Share a comprehensive repair and maintenance history of your car with your serious prospective buyer. Also, if there was a major repair, you need to be upfront with the buyer and re-assure them with proof that the repair was done properly. This allows you to build a closer bond and willingness on the part of the buyer to shell out more money.

Demonstrate your Care for your Car

Potential buyers want to be reassured that they aren't about to purchase a vehicle that will turn out to be a lemon. One way you can offer that reassurance is by showing the vehicle's maintenance records. If you have maintained your car meticulously and, importantly, have kept those records, show them to prospective buyers. Many people will be impressed by your proper treatment of your vehicle.

What if you have not kept your records well?

It definitely gives you an added advantage to have clear and complete car history. However, due to any reason if these records are missing or incomplete, you need to take your client in confidence by either getting a thorough check-up report from a reputed private agency or arranging them from the original dealer.

These steps by you will ensure a better client relation leading to better price.

Step 4: Plan ownership transfer to the buyer

Depending on your car ownership type you should plan it’s transfer to the new buyer If you own the car without bank mortgage the transfer would be straight forward and simple, however if it’s mortgaged to bank it may be a little complex and time consuming. An advance planning is always advisable to avoid any last minute surprises and keep the process smooth

Selling the car without a bank mortgage

First, and foremost ensure that your payment is secured before transferring the ownership.

Although, the governing rules of transferring ownership in 7 emirates of UAE are similar in principal, however it is better to be aware of any latest updates or changes. If the buyer and seller happen to be expatriates with visa issued by different emirates the transfer process will be a bit different. This may additional involve cancelling the current registration card (Mulkiya), preparation of export documents and export plate for physically transferring the vehicle to the buyer’s emirate, followed by inspection of the vehicle and fresh registration in the importing emirates.

In a simple transfer process you are required to sign the transfer (Tanasal) form as a seller in favor of the buyer. The documents required to formalize transfer include – Original Registration Card (Mulkiya), Proof of Identity (Passport or ID card) and Driving License

Selling the car with a bank mortgage

With a mortgaged vehicle, there are a few more steps in the process.

First you will want to find out what is the current outstanding amount on your vehicle. Depending on the selling price of your vehicle, you may decide to either settle your car loan directly with the bank, or even think of transferring the loan to the new buyer, subject to bank approval, and of course with a prior understanding between you and the buyer.

After settling the outstanding amount with the bank you will be entitled for a release letter which will form a part of the document at the time of transfer at Registration department (Muroor)

Caution: It is advisable at this stage to ensure a new registration card (Mulkiya) is issued in the new buyer’s name and you keep a copy of the same for your records. This protects you just in case the new buyer gets in an accident, is ticketed, or has any other criminal activity involving your former vehicle.

Make the Advertisement Look and Sound Great

These days there are plenty of places to advertise vehicles for sale online, and many of them are free or low-cost. When you advertise your car, you want to put its best tire forward in the form of excellent photos and a good description. Take some time to park your car with a neutral background and in shade or soft light (as at dusk) that shows your car to the best advantage in your photos. Similarly, write a description of the car telling the prospective buyer about its best features.

Have a Trial Test Yourself

Have a thorough check of your car whether it’s ready for a test drive by test driving it yourself.

Check all minor details that you don’t want your buyer to take notice of and thus finding room for negotiation. The objective at this stage should be that your buyer is not able to point at any shortcomings or flaws.

Fix all simple noticeable issues if any, and check tire pressure and fuel levels. Observe if any of the warning lights have popped up. If you can address to these issues promptly, then keep the test drive appointment as agreed or else reschedule it for latter to give you enough time to resolve the problem.

Accompany buyer during TD

Utilize this as an opportunity to explain key elements about your car including major features and their benefits or any other highlights which resonates with the buyer’s profile.

Your client may have some queries or doubts which may be easily handled at this stage. Accompanying also ensures that you are able to accommodate multiple test drive appointments scheduled at short intervals, subject to your car being in high demand.

Have a Pre-Planned Route

Diligently pre planed route offers a great opportunity to your prospective buyer and have an overall balanced exposure matching his expectations from your car. If only he is fully satisfied with the test drive, he can make up his mind to proceed with the deal.

Therefore pre decide a route in your area that gives the current buyer a fair chance to test drive your car with a good mix of driving requirements like low/high speeds, maneuvering round about, straight/curvy roads, off-road drive depending on the car, for at least 10-15 minutes. You want to make the test drive as convenient as possible for both you and the driver.