Test Drive Preparations: Seller’s Edition
While many test drive advices are tailored for buyers, we will compile a list of things to prepare before a test drive, exclusively for the sellers.
It is extremely important that you are well prepared before you meet up with your potential buyer for the test drive. A face-to-face session is the best opportunity to convince your potential buyer to make the purchase. Here, we have compiled our top tips to follow before you embark on your test drive appointment with your potential buyer.
Before the Test Drive
1) Clean your car
As the cliche saying goes, first impression counts. Since it will be the first time that your potential buyer meets your car in person, tidy up your car such that it is clean and neat. The state of your car will tell how you take care of your car over the years. You wouldn’t want your buyer to think that you haven’t been taking proper care of your car, would you?
2) Know your car
Learn about all the options that come standard with your car, and get familiar with more important specs like your engine size and current mileage. In addition, it is probable that your buyer would ask about your experience with this car, whether or not it was a smooth drive.
3) Make sure your car is in good condition
By good condition, it would mean that your car does not need any major repair works. Before the test drive, check every minor detail – Open and close all the windows, turn the wipers and lights on and off, push the seat back and forward, turn the radio up and down, etc. It is wise to find out about the faults that your car have before your potential buyer does.
4) Prepare your asking and reserved price
Do your research to find out how much your car is worth. It is highly possible that the buyer would negotiate a price during the test drive and try to lower the price as much as possible. Hence, your asking price should not be too far off from the market prices and if so, you should have a reasonable reason to support your asking price. To find out how to valuate your car in detail, check out this article.
Alternatively, you could engage professional help from listing platforms that offer price valuation services.
During the Test Drive
1) Signing of indemnity form
Anything can happen during a test drive. It is wise to protect yourself. Before you hit the road with your potential buyer, let him/her sign the test drive indemnity form. This is for him/her to be liable for all damages that occur during the test drive. (Download the test drive indemnity form here.)
2) Chat with your potential buyer
Know what your buyer is looking for and find the features of your car that will sound good to him/her. For example, your buyer likes to drive to and from Johor every weekend, you could share with him/her that your car is fuel efficient. However, do not make up false facts about your car. Be truthful and be sincere.
3) A purchase will go through
Your potential buyer has decided to make the purchase? Congratulations. What should you do next? You could engage professional services of handling your paper work or do it yourself. Prepare a copy of the Sales and Purchase Agreement and collect a deposit from your buyer should he/she decides to make the purchase on that very day. (Download the Sales and Purchase agreement here.)
Download Test Drive Indemnity Form here.