It's important to put a written sales agreement into place. Or a receipt, if you will. It's not compulsory, but it is a smart thing to do, as it protects both buyer and seller. If any disagreements were to arise later on down the road, this agreement serves as your proof of sale.
According to the Consumer Protection Act, you are required to disclose any and all faults with the car before the new buyer can take it off your hands. It's a good idea to put these, in writing, into the sales agreement. This way, the new buyer can't give you trouble about those problems later on. They agreed to purchase the vehicle voetstoots – as is and without warranty.
If the car is under warranty, notify the dealership that you are selling it.
Even without the sales agreement, you should still provide the buyer with a receipt of sale. The receipt should contain the sales amount, payment method, all of your personal details and also a full description of the car's particulars – the make, model, engine size, registration number and chassis number.
Both parties need to sign this receipt, with the date and time of sale. You both retain a copy of everything. This is necessary so that, if any offences are committed shortly after the sale, you have proof that it couldn't have been you.
Here are some other things you need to give to the buyer:
- The original manufacturer service book;
- Any receipts saved for maintenance or repairs done;
- A full service history, to show that the vehicle has been looked after;
And now we get to the part which everybody despises – government paperwork.