Step 9: Find Out How the Buyer is Planning to Pay
Once your buyer has established interest, it's a good time to discuss how he or she plans to pay for the car. As a good general rule, private party sales are cash deals; the buyer pays the total up front, either with cash, a cashier's check or money order. You want to make certain you get the money and a private party seller is under no obligation whatsoever to finance the buyer. If there is a willingness to invest money in the process by paying for an inspection, the buyer is probably serious. If the buyer is uncertain about how the car will be purchased, you may be willing to be helpful and mention the many financing options available. RoadLoans.com
offers financing on private party loans. But you have no obligation to help the buyer with this; the money is, after all, his or her concern. You just need to make sure that the buyer has things in order before completing the deal. Now is the time to eliminate financial surprises. What you don't want to do is hold on to your car and turn away other buyers for someone who has financial issues.
When the inspection is complete or your buyer has all the information needed to make a decision, the bargaining begins. If you have done a good job, and handled all the doubts and questions your buyer may have posed, the negotiation of a final price should be relatively easy.
Remember that it is not your responsibility to fix someone else's financial problems. If a person is looking for a car, making phone calls and showing up to look at a car, then he or she should have the money to pay for it.