Whether you’re trading up to a more modern model, dropping down to a smaller vehicle or you’ve experienced an adjustment in lifestyle or transport needs eventually, you’ll need to sell a car.
In most cases you’ll want to maximize your profit on the vehicle since you’ll have the money to buy a new one or repair, however you may want to get shot of it as quickly and as easily as you can.
In any case, there’s numerous ways to sell your vehicle – as well as a variety of actions you can take to ensure that you receive the highest price.
Find out the method that is ideal for your needs, along with our top 6 car selling strategies.
Selling a car via classified ads on the internet
Traditional classified websites like Auto Trader remain a popular option to sell used vehicles. For sports, performance or classic vehicles, for example, consider advertising in a magazine that is specifically designed for your needs or on a similar website or if you are selling a less valuable older car, consider the free-ad sites (such as Gumtree) in addition to local papers for free.
Make sure that the advert describes the car accurately and includes all necessary details such as specific car model and specifications such as age, mileage in MOT time, the length of the test and service history. Avoid unnecessary waffle, but include any relevant information for example, ‘only one owner’, ‘recent cam belt replacement’ as well as ‘new tyres’, in the event that it is applicable. Also, provide a wide variety of decent quality photographs, including interior shots.
Be ready for those who fail to turn up to test drive, who are time wasters, and aggressive hagglers. Be sure buyers are covered for testing driving and possess a valid driving license. Also, be cautious of crooks: be careful giving out your personal information on the internet, and don’t leave anyone in your car with their keys or papers and pay attention to your own security and security always.
Tips for taking payment in a private sale, take two receipts for any deposit or payment in writing, and signed by you and the buyer, including the car’s make as well as the registration and model number as well as the agreed price and when you received the cash. Make note of both the buyer’s and your full names and addresses, with date and time. Be aware of forged banknotes; a banker’s draft is safer however it could take two weeks or more to clear, and forgeries may occur. Do not give away the keys until the money is safely in your account.
Selling a car via an online platform
There’s an increasing amount of companies offering to purchase your car, such as webuyanycar. You enter your car’s details on their website (such as mileage and age) and receive a value and then take it to a local depot to be assessed. If all is good, the money is usually paid directly to your bank account, though admin costs may be due.
Such companies only offer an amount that gives a margin of profit after they sell the car through auction. Online valuations are not final prior to the inspection of the car, and may be substantially decreased once the car is examined.
You can also use an online service like Motorway which provides you with an estimate of the value of your vehicle and then shows it to dealers. If you choose to accept the highest offer then your vehicle will be collected for free.
Keep in mind that even though using online car buying options like these are extremely efficient, you’re likely to receive a higher price selling the car privately or taking it to auction. But, even if there’s no intention of selling your car using We Buy Any Car it’s a good option to quickly get an assessment of your car, which you can use to determine a price when selling privately.
Part exchange of a car exchange
If your car is several years old or if you’re considering buying a new vehicle made by that same brand, trading it in for part exchange is the best and easiest option. Dealers who are franchised tend to purchase second-hand vehicles for their stores, but they might want models from the same brands they sell new. Independent dealers generally take any decent-to-excellent automobile in exchange.
If you opt to part exchange, you should focus on the “price to swap which is the difference between the price you offer on your old car and the cost of the new car, not the individual cost of either. Dealers can reduce the price of the new car in exchange for a poor valuation on your previous car such as, for instance or offer a affordable price for your old one , to convince you to buying the new one at a price that is close to the price of the new car (the price shown in the brochure).
Bear in mind that most dealers will want to make a margin on any second-hand car they take on, therefore the ex-part price is unlikely to be as high as the price you’d receive from selling privately. It’s certainly more practical.
The sale of a vehicle to a dealer
If your car is relatively new, has low-mileage and is a model in high demand second-hand, or has a specialization or a particular appeal and appeals to a particular group of people, then a dealer (franchised or independent) with a focus on that brand or type of vehicle could be interested in purchasing it completely. Well cared-for mainstream vehicles are also appreciated by smaller local merchants, especially in the case of a vehicle that they are confident they will be able to sell on again quickly. This can be a quick and simple way to sell even if it’s not the most profitable.
A car can be sold at an auction
The idea of putting your vehicle up for auction is a far more private option to dispose of it, although there is no guarantee of selling and prices aren’t usually high. You will need to pay an entry fee and establish a reserve price; if you don’t get the value, you’ll have to bring it back or try again in another auction. Even if you receive payment from the auction company quickly, the commission will be subtracted.
Online auctions
Auction sites, like Ebay are a popular method to purchase and sell second-hand vehicles of all kinds and age. You’ll typically have to pay a small fee and can decide on a reserve price. Ebay also offers a buy it now’ option at the price of a predetermined amount. Buyers are able to ask questions prior to the auction, but as long as the car is correctly described, bids will be legally binding. Follow the same approach to making an Ebay advertisement in the same way as you would with an advertisement in a classified publication, as previously described.
As the buyer may be purchasing without having seen the item, you shouldn’t expect to get a premium price. Be cautious of bidders who have no Ebay history, or without positive feedback. Also, do not transact with anyone offering a high cost to settle in a way that is not part of the Ebay payment system (ie providing the details of your bank account).
Donate a car to charity
If you’re stuck with a car that isn’t worth the money or you’re unable to take on the tyre-kickers, donate it to a charity. Numerous charities, from large household names to small local fundraisers, are involved in schemes that allow vehicles donated are taken in and sold (if there is a roadworthy condition), or scrapped and recycled, with the charity getting the amount paid. This can be performed in conjunction with social enterprises, like the ones that offer work experiences to individuals who are in need.
It is possible to declare your gift as Gift Aid, which will increase the money the charity you select receives. Study the various options, however, because some allow fees for administration and vehicle collection. This reduces the money a charity gets.
Six top tips for selling your vehicle
Before you begin drafting an advertisement, there are a few things you can make sure you maximize the appeal of your car. Here are our top suggestions on preparing a car to sell.
1. Be sure to get the right price
Don’t undersell your car. If you are considering any kind of deal that involves part exchange or putting your vehicle on the market check out similar models on the market. Make sure you find vehicles with the same trim level and age. This will give you a more of an idea of what your car will sell for.
2. Consider an MOT (and get your documents together)
A car that’s recently been tested for an MOT is more attractive than one that hasn’t. Not only is it a sign that the buyer won’t have to spend money on a new test right away, but also your purchaser can be more confident that the car is in good shape.
It is also important to ensure that you have all the relevant documentation to hand. Here’s a checklist for paperwork:
V5C (logbook)
MOT certifications
Service book
Manual
Large invoices and receipts of work or items purchased.
If necessary, ensure you have evidence that any unpaid loans were paid and that the car will be yours.
3. Discover all keystrokes, accessories and keys
Take all keys that you have for your vehicle and include (if there are locking wheels) the socket-style device to unlock alloy wheels. Also re-fit any parts or other accessories you’ve taken off, like a shelf for parcels for the boot or tools.
4. Get it looking spick and extend
Before taking photos and before taking it for a test drive make sure it is clean outside and inside. Particularly pay attention to areas that drivers are most likely to encounter, such as the dashboard or steering wheel, carpets and windows.
If your car is relatively new and high value is worth the cost of having any minor paintwork or bodywork scrapes replaced, or resurfacing the alloy wheels that have been scratched.
5. Delete your personal data
You might be thinking, what kind of data? But if your smartphone has Bluetooth it is possible that you have copied your phone book onto your car’s memory, while a built-in sat navigation may contain an address book of the places you’ve been to: home, work and friends all stored within its memory. That isn’t data you (or your friends) want to share by mistake, so make sure to delete it prior to selling.
It is also necessary to cancel your access rights to the car and provide evidence of this for the buyer.
Here’s how to do it:
Clean up your data by going to the infotainment system in your car and look in the Settings menu to find controls to wipe your account as well as information. Go through the manual if you cannot locate it on the unit. If you’re driving it to the dealer or buyer make sure you don’t connect your phone to the car, as it could leave behind trace information that isn’t deleted.
Remove access to the car’s application from your smartphone isn’t enough to revoke access. You’ll need to cut off the connection between you and the vehicle. Also, you’ll require access to the information system in order to trigger the master reset button. Follow the instructions on the device or refer to the manual to ensure that your access is removed completely prior to when you sell the unit.
If you’re unsure of how this is done contact the manufacturer phone call to get help.
6. Honesty can be the most effective way to conduct business (really)
It’s tempting to be perhaps a little economic, in truth. However, if you’re upfront about your car and respond to all questions honestly and honestly, the purchase should be straightforward , and the buyer should have no legal recourse should the vehicle become damaged later on.
Other aspects to be considered
You are legally responsible for your car up to the point that DVLA is notified of its sale, whether through sending part or all of your V5C (logbook) or notifying DVLA by using their online services.
All future full-months’ vehicle tax (VED) you’ve already paid will be refunded to the person listed on the V5C. The buyer of the car will have to tax the car themselves.
Make arrangements to settle any outstanding loan by negotiating with the lender.
The buyer must notify the warranty company, in the event that it is applicable about the change in ownership. Items like servicing packages in the event that they were purchased initially, may also be transferable.
Remember to notify your insurer that you no longer own the vehicle.
Copyright Reseau Actu.