- When you sell a car make sure you notify DVLA straightaway. If you don’t, you will become liable for speeding and parking fines and the authorities are notoriously difficult to listen to your case.
- On the same subject, make sure you have proper records for when potential buyers are test driving or you send out a loan/courtesy vehicle. The same applies as above. You can end up with speeding and parking fines.
- It may sound obvious but do make sure you get all the details of your customers. Always take the view that you might have to sue them if they break the agreement in some way. Just having a mobile number does cut down your chances of getting the money in!
- Be very very careful with taking plastic. Credit cards are still very widely used in fraud. If at all possible get the customer to come in with the card and always ask for plenty of identity to confirm they are who they say they are. Equally don’t deliver the car to anywhere other that the card holders address and make sure they receive the vehicle.
- Don’t enter contracts with anyone, particularly utility providers and mobile phone companies over the phone. You will not be told, and will not be able to take in, all the terms and conditions which are extremely important. You will get told all the advantageous information which at the best is selective and at worst will be misleading. Be particularly aware of the period you will be tied in for and how much notice you need to give to charge suppliers. Sellers over the pone are seeking to pressure you into making a quick decision. Don’t be scammed!
Five other top tips to save the hard earned cash
Follow the below tips to ensure you save your money...
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