When selling a truck via the private market, one can expect to have a different experience than if they were selling a car. This can be for a few different reasons, one of which has to do with the need to cater to a completely different target audience.
Hence, the need for the person selling the truck to have a full understanding of what they need to do and how, so that the process can be as easy as possible while making the most money.
It is safe to say that trucks are of the heavy variety of automobiles. We determine this category by ascertaining if the vehicle is heavier than 4.5 tonnes.
Heavy vehicles can be split into five different groups. In order from lightest to heaviest: Light Rigid, Medium Rigid, Heavy Rigid, Heavy Combination and Multi Combination. Henceforth in this blog post we will simply be referring to all trucks as heavy vehicles, unless further specification is required by the context.
Continue reading to learn what the ten steps toward selling a truck privately are:
Here is the first step that you will need to take. If you don’t price your truck, you can’t sell it, it is that simple. Prospective buyers won’t be able to buy your truck even if they want to. Here are all the factors pertaining to your truck that need to be considered:
Doing some market research is one avenue you can go down if you are independently determining a good and fair price for your truck. This is easy to do on the internet. Simply find out how much other second hand trucks that are of the same specifications as yours are being sold for.
If you want to be absolutely sure that the valuation is as accurate as possible, you have the option of having it done professionally. You can enlist the help of auction houses in order to achieve this.
A truck that is dirty, and/or has dents, scratches or noticeable dings, will be more difficult to sell. You want the truck to entice people visually, because the truth is that we are all shallow. We make judgements based on first impressions all the time. This is true for everything, not just automobiles.
If you have enough space on your property, along with the correct equipment, you can fully detail the truck yourself. However, you will probably want to have it done professionally by people who know what they are doing and can do a professional job.
It isn’t until the sale is closed that you will have to have most of the paperwork ready. That doesn’t mean that you should forget about it until then. Plan ahead of time and have it all ready early. This will ensure a smooth process. Here is what you will need:
Notice of Disposal. This one depends on the state. If you live in NSW, NT, ACT, SA or TAS you will need a Notice of Disposal.
Transfer of Registration Papers. Whenever a truck that is registered is sold, the seller needs to have this paperwork ready. The seller will sign it before giving it to the new owner.
When a registered truck is being sold, sometimes it needs to be inspected. This is so that the seller can give a roadworthy certificate to the new owner. Sometimes it goes by the name “Safety Certificate.” Requirements are on a state by state basis.
TAS – You don’t need one.
NT – You need to have a compliance check and roadworthy check completed.
ACT – Getting an inspection is required for any truck being sold that is over six years old.
WA – No examination is needed.
SA – While it is required that some trucks get annual roadworthy inspections, having the actual certificate isn’t needed before a sale.
QLD – All trucks need to have a Certificate of Inspections in Queensland. It is required that this certificate is renewed annually.
This is also a very important step. You want people to know that you are selling your truck. This is the best way to achieve the goal of reaching them. The best place to do this is on the internet. You reach a larger audience and the cost can be quite cheap if it costs anything at all.
While a vast majority of people online are on the up-and-up, a tiny percentage of them are not. Never give keys to someone until the full price has been paid. Don’t give out personal info until you have interacted over the telephone. If anyone insists on only emailing you, doesn’t want to make a physical inspection, or has paid more than the price you have set and is asking to be paid back the difference, you may have a scammer on your hands.
After placing an ad, people will start to contact you. You will need to answer many questions, such as what the best price is, whether you have the whole service history available, and so forth.
Drivers will want to test drive the vehicle before they pay you money to buy it. They need to have the proper truck licence. Make sure they do.
Have a bottom price sorted out in your head that you are not willing to go beneath. If the buyer makes a particularly low initial offer, don’t panic. Just offer a counter price that suites you.
This is otherwise known as “closing the deal” and it includes writing up a sales agreement, agreeing to a deposit if it is necessary and then getting paid.
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