Whether you’re trading up to something more powerful, or dropping down to a smaller vehicle, or you’ve had changes in your lifestyle or transportation requirements at some point, you’ll have to sell a automobile.
In most instances, you’ll want to get the most value for the car because you’ll use the funds for the purchase of a replacement However, you might wish to get rid of it as quickly and as easily as you can.
There are numerous ways to sell your vehicle – as well as a variety of ways you can go about it to ensure that you get the most money for it.
Read on to discover the selling strategy that’s ideal for your needs, along with our top six car selling strategies.
Cars for sale via classified ads for private individuals
Traditional classifieds services like Auto Trader remain a popular method to sell used cars. For performance, sports or classic cars take a look at advertising in a specialist magazine or on a site related to it; for a low-value older car, consider the free-ad sites (such like Gumtree) or local newspapers that are free.
Be sure that your advertisement is accurate and provides all the relevant details such as specific model and specification such as age, mileage as well as the length of the MOT and service history. Don’t overdo it. include all the relevant information, such as ‘only one owner’, ‘recent cam belt replacement’ or ‘new tyres’, if applicable. Also, make sure you have a decent collection of high-quality photos including interior photos.
Be ready for those who do not show up in time, are time wasters and agressive hagglers. Be sure buyers are insured to test drive and have a valid driving licence. Also, be cautious of scammers: be cautious about sharing personal information on the internet. Do not let people in your car alone with their keys or papers, and be mindful of your security and security at all times.
Tips for taking payment in a private sale, note two receipts of any money or deposit paid that is signed by both you and the buyer as well as the car’s name, make, model and registration number along with the agreed price as well as how the money was received. Write down both buyers and your names and addresses, along including date and date. Be aware of counterfeit banknotes. A banker’s draft can be more secure however, it can take two weeks or more to be cleared, and forgeries often occur. Do not hand over the keys until the money is safely in your account.
Selling a car through an online service
There are an increasing number of companies offering to purchase your car as webuyanycar. You enter your car’s details on the company’s website (such as age and mileage) get a quote, and then take it to the nearest depot to be inspected. If all is good, the money is generally paid directly to your bank account, but admin fees may be payable.
Such companies only offer the price with a margin of profit after they sell the car through auction. Online valuations are only provisional prior to an inspection of the vehicle and are likely to be decreased once the car is inspected.
Alternatively, you could use an online service such as Motorway, which gives you an appraisal for your car and then sends 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 the online services for buying cars like We Buy Any Car can be extremely efficient, you’re likely to get a better price selling the car privately or sending it straight to auction. However, even if you’ve not planned to sell your vehicle using the internet, they’re a useful method to obtain a quick appraisal of your vehicle that you can use to set the price for selling it privately.
A car can be sold in part exchange
If your car is only a few years old, or if you’re buying another vehicle made by the same manufacturer, swapping it for a part is the best option and most straightforward. Franchised dealers tend to acquire second-hand quality cars for their showrooms, however, they may choose to use models that are manufactured by the same brand that it sells brand new. Independent dealers generally accept nearly any good-condition car in part exchange.
If you opt to part exchange, it is important to concentrate on the “price to exchange (or ‘price to change’) – that’s the difference between the exchange offer on the old car and the cost of the new one rather than the cost of each. Dealers can offer a reduction on your new vehicle against an unsatisfactory appraisal of your old one, for example or provide a good price on your old car to convince you into buying the new car near the list price (the price shown on the brochure).
Remember that most dealers will want to earn a profit on any used car they sell on, so the part-ex cost is likely to be at the same level as what you’d get from selling privately. However, it’s undoubtedly much more practical.
Selling a car to dealers
If your car is relatively new, has low mileage and is that is sought-after secondhand, or if it is a model with a specialization or a particular appeal A retailer (franchised and independent) which specializes in the particular brand or type of vehicle could be interested in buying it completely. Well cared-for mainstream vehicles are also appreciated by smaller local businesses, particularly when it’s a vehicle they know they can sell on again quickly. This could be a simple and easy way to sell but it’s not necessarily 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 alternative to dispose of it. However, there is no guarantee of a sale and costs are generally not high. You will need to pay an entry fee and set an amount for reserve. If it doesn’t reach the value, you’ll have to bring it back or try again in another auction. If you do not receive the an invoice from the auction company promptly, commission will be subtracted.
Online auctions
Auction websites, such as Ebay are a popular method to purchase and sell second-hand cars of all types and different ages. You’ll usually have to pay a small amount and set a reserve price; Ebay offers a ‘buy it now’ option at the set price. Bidders are allowed to inquire prior to the auction, but so it is clearly described, the bids are legally binding. You should follow the same procedure for making an Ebay advertisement in the same way as you would write an ad in a classified, as described above.
As the buyer may be buying without seeing the item, don’t be expecting to receive a high price. Be cautious of bidders who have no Ebay track record or positive feedback, and do not deal with any bidder offering you a suspiciously high price to settle up without using Ebay’s payment system (ie providing your bank account details).
Donate a car to charity
If you are trapped with a vehicle that has no value or you’re unable to take on the tyre-kickers, you could give it away to charity. Many charities, from big household names to small local fund-raising organizations, have signed up to schemes whereby a donated car can be collected and either auctioned (if it’s roadworthy) or recycled or scrapped which will benefit the charity with the money. This can be performed in conjunction with social enterprises, for instance ones that offer work experience to disadvantaged people.
You can declare your donations in the form of Gift Aid, which will increase the money the charity you select receives. Examine the various programs but be aware that certain programs deduct administrative fees and vehicle collection, reducing the amount of money that a charity receives.
Six tips to sell your car
Before you start drafting up an advertisement, you need to know a few things you can do maximise the appeal of your car. These are our top advice to prepare a car to sell.
1. Get the price right
You don’t want to undervalue your car. If you are considering any part-exchange deal or put your vehicle on the market, search for similar models for sale online. Find cars with the same quality and condition. It will give you a an idea of how much the price of your car could be.
2. Consider an MOT (and make sure you have all the paperwork)
A car that has recently been tested for an MOT is more appealing than one that hasn’t. Not only does it mean the buyer won’t have to pay for a new MOT straightaway, but your buyer will be more certain that the vehicle is in good shape.
Also, make sure you have all necessary documentation on hand. Here’s a quick checklist of paperwork:
V5C (logbook)
MOT certificates
Service book
Manual
Important receipts and invoices of work or items bought.
If necessary, ensure you are able to prove that all outstanding loans have been paid and that the vehicle is yours to sell.
3. Locate all keys and items
Collect together all the keys that you have for your vehicle that includes (if you have locking wheel nuts) the socket-style tool for unlocking alloy wheels. Make sure to re-install any parts or other accessories you’ve removed, such as shelves for parcels in the boot or a tool kit.
4. Find it attractive with a spick & stretch
Before taking photos and before taking the vehicle for a test drive take it for a thorough clean outside and inside. Pay special attention to the parts that drivers are the most likely to be looking at including the dashboard and steering wheel, the seats as well as the carpets and windows.
If your vehicle is new and of high value is worth investing in having minor paintwork damage and scrapes repaired, or renovating the alloy wheels that have been scratched.
5. Your personal data should be deleted
It’s possible that you are thinking, what data? If your phone is equipped with Bluetooth it is possible that you have transferred your phone book to your car’s memory as a built-in Sat navigation device could contain all the address of your home, work and friends stored on its internal memory. That isn’t data that you (or your acquaintances) are likely to share by accidental means, so you should delete the information before you sell.
Also, you will need to revoke your rights to access the vehicle and provide proof of this for the buyer.
Here’s how:
Clear your data – go to the infotainment system in your car and look in the Settings menu for options to wipe your account and data. You can refer to the manual if can’t find it easily in the unit itself. If you’re driving to the dealership or to the buyer do not connect your phone to your vehicle, it could leave behind trace information that wasn’t deleted.
Refuse access. Simply deleting the car’s app off your smartphone isn’t enough to get rid of your access. You need to break the link between you and your vehicle. You’ll also need physical access to the infotainment system in order to trigger the master reset button. Follow the steps on the unit or consult the manual to ensure your access is fully revoked prior to you sell the unit.
If you’re not certain the procedure then give the manufacturer a phone call to get help.
6. Honesty can be the most effective policy (really)
It’s tempting to appear somewhat, let’s say, ‘economical’ with the truth. But if you are upfront about the car you are selling and can answer all questions truthfully the sale will be easy and the buyer will be granted a very limited legal comeback should the car eventually develop a fault.
Other considerations to make
You are legally responsible for your car till the DVLA is informed of the sale, whether through sending a portion from the V5C (logbook) or by notifying the DVLA through their online system.
Any additional full month’s car tax (VED) you’ve already paid will be refunded to the person listed on the V5C. The buyer of the car will have to charge the car’s tax themselves.
You can settle any outstanding loans with your lender.
The purchaser should inform a warranty company, if applicable, of the change of ownership. Certain products, such as service packages that were originally purchased can also be transferred.
It is important to notify your insurance that you do not own the car anymore.