Selling a Used Car
When it comes to selling your car, there are basically two roads you can go down and it all depends on what’s more valuable to you; time or money. Simply put, a dealer is going to take the car of your hands much faster, but you could stand to make more profit if you go for a private sale.
SELL YOUR CAR FAST:
HOW TO SELL YOUR USED CAR
Presentation is everything, so… here are some simple steps to help you sell your car quickly, whether that is via a part-ex with a Dealership, or privately:
- PAPERWORK: Get your V5 document and make sure it is up-to-date. Make sure your car is taxed and the tax disc is positioned in the window of the car. Get a folder or binder and order all receipts, invoices and MOT certificates. Present the paperwork well, and you will win.
- FIX ISSUES: It goes without saying that a few bumps and scratches are part and parcel of an older car, however it can be cheap to fix and is one less reason a buyer can knock you down on price.
- WASH AND POLISH: Make sure your car is clean and tidy. You wouldn’t buy a dirty car, so why expect someone else to. A clean car is reassuring.
- BE HONEST: When speaking to a potential buyer, or writing your advert be honest. If there are issues, list them. Remember the buyer will want to see the car in the flesh, and you’ll lose the sale if the car is different to that which was advertised.
- VALUE: Get hold of a Used Car Price Guide and make sure the price you are asking reflects it’s age and condition
WHERE TO SELL YOUR USED CAR
There are several places you can sell your car, here are the pros and cons:
Classifieds
Your local paper will have a Cars for Sale section. This is a cheap and local way to advertise your car, and they still work (even with the internet now taking over).
Used Car Magazines & Listings
Magazines like Auto Trader are massive, and a very good way of selling your car. They are read by thousands of people, all motivated buyers, and you will get calls if you have prepared and marketed your car correctly.
Trade
Part-ex and selling to a car dealership is a quick way to get shot of your car, however you will be selling for considerably less than you would in a private sale, check the prices in a car price guide and only do if you are really desperate.
Car Auctions
The car auction is scary enough if you are buying, but for sellers, well it much be stressful. That said, you can choose a reserve price, and often you will get a fair price (as it’s dictated by the market)
Internet Auction Sites
eBay should not be looked over as a good place to sell. OK, it’s scary setting up an auction, but your car should reach a good price.
At The Roadside
If you are using some of the private seller methods listed above, then it might be worth parking your car with a large FOR SALE sign in the window, with the price clearly listed. If you do this on a busy road, then there will be literally thousands of potential buyers driving past every day. Better than it sat in your garage for sure!
PART-EX IN A DEALERSHIP v’s PRIVATE SELLER
If you decide to trade in with a dealer, you’ve chosen the simplest route to selling your car. Although that’s a positive, it can also work against you; if a dealer knows you’re a motivated seller they’re likely to try and drive the price down knowing that you want to get rid of your car and will accept their offer. In some scenarios, if you are looking to take another vehicle home, for example, you might get a good deal from a dealer whose keen to sell another car.
For a lot of people, the need to trade their car quickly will outweigh the benefits of a private transaction, by saving them time and effort in the long run.
If you have the time to spare and you’re more interested in getting what your car is worth – or perhaps making a profit – you can choose to sell it privately. Although it can potentially be a time-consuming process, it can be worth it, particularly if you’re not looking to trade the car in. It’s important that you’re available to answer the telephone and talk to interested parties, as well as having the time to schedule test-drives. Sometimes advertising can be a drain on resources also, especially if it’s a difficult car to shift. However, if you’re confident you are able to sell it privately and you’re aware of how much is a reasonable asking price, this option could be ideal for you.
When it finally comes to actually selling your car, you have to give yourself every chance of making the most money out of it. You’d be surprised how much a scruffy interior or a dull paint job could lower the offered price. Give it a thorough clean, inside and out, with professional products, and be sure to remove all your personal items. It might seem like hard work, but getting rid of dog hairs on the seats or a stale smell of cigarette smoke can make all the difference when meeting a potential buyer. If you don’t have time to do it yourself, it’s wise to invest a little money in a valet service to get your vehicle up to it’s highest standard.
In order to make life easier for yourself and for your customer, get all the relevant paperwork together for your vehicle, including registration documents and MOT certificates. Better yet, if you’ve got receipts from garages where you’ve had work done on the car, present those as well. All of this proves that you’ve taken good care of the car and everything’s above board, more importantly, it shows you the seller are not trying to hide anything, giving the buyer more confidence in the sale.
OUR FAVORITE CAR SALES SITES:
