Things To Consider When Selling A Car

Whether you’re trading up to a more modern model, moving down to a smaller size or even changes in your lifestyle or transport needs eventually, you’ll need to sell your car.

In the majority of cases, you’ll want to maximize your profit on the car since you’ll have the money to buy a new one or repair, however you may want to get shot off as quickly and conveniently as possible.

There are numerous methods to sell your car , and a series of steps you can take to make sure you get the most value for your car.

Read on to discover which selling method is the best for you. Along with our top 6 car selling tips.

A car can be sold through private classified ads

Traditional classified websites like Auto Trader remain a popular way to sell used cars. For performance, sports or classic vehicles to name a few, think about advertising in a specialty magazine or on a similar website or if you are selling a less valuable older vehicle, you can try an online classified site that is free (such like Gumtree) in addition to local papers for free.

Be sure that your advertisement describes the car accurately and includes all necessary informationsuch as the exact specifications and model along with mileage, age, length of MOT and the service history. Don’t overdo it. include all the relevant information for example, ‘only one owner’,’recent cam belt replacement’ or “new tyres” in the event that it is applicable. Also, offer a selection of decent-quality photographs, including interior shots.

Be ready for those who aren’t on time, time wasters and aggressive hagglers. Be sure buyers are insured to test drive and possess a valid driving license. Also, be cautious of scammers: be wary of providing your personal details online, do not leave individuals in your vehicle with your keys or other documents Be aware of your private security and safety always.

Top tip When taking payment in a private sale note two receipts of any deposit or payment that is signed by both you and the buyer along with the car’s model and model, registration number, agreed price and how you received the cash. Record both your and the buyer’s names and addresses, along including the date and time. Be alert for forged banknotes; a banker’s draft is more secure however it could take two weeks or more to be cleared, and forgeries often occur. Don’t hand over the keys until the money is safe in your account.

Selling a car via an online service

There is an increasing number of companies that offer to purchase your car as webuyanycar. The car’s information is entered on their website (such as mileage and age), receive a valuation, and then take it to a local depot to have it assessed. If all is well the money is usually paid directly to your bank account, however admin charges may be due.

We Buy Any Car only offer an amount that gives a margin of profits once they have sold the car at auction. Online valuations are only provisional prior to the car’s inspection, and may be substantially diminished once the vehicle is inspected.

Another option is to make use of an online service like Motorway, which gives you a valuation for your car and then shows the car to dealers. If you opt to take the most expensive offer and the car is collected for free.

Keep in mind that even though online car buying services like these are extremely convenient, you’re almost certain to get a greater price selling the car privately or sending it straight to auction. Although, even if no plans to sell your car via an online auction it’s a good method of obtaining a fast estimation of the value of your car which you can use later to set the price when selling it privately.

Selling a car by part exchange

If your car is just some years old or if you’re buying another model from similar manufacturer then trading it in for part exchange is the best and easiest option. Franchised dealers are usually keen to accept second-hand cars for their forecourts, however they might prefer models that are manufactured by the same brand it sells new. Independent dealers generally accept nearly any good-condition vehicle in exchange for a part-exchange.

If you choose to part exchange, you should focus on the ‘price to change (or ‘price to change’) – that’s the difference between the exchange offer on the old car and the cost of the new model, not the individual cost of either. Dealers may offset a discount on your new vehicle against the value of your old one in this case or offer a excellent price on your old one to tempt you into buying the new one at close to list price (the price listed in the brochure).

Bear in mind that most dealers will try to earn a profit on any used car they sell for sale, which means the final price won’t be much higher than the amount you’d receive from selling privately. But, it’s definitely more practical.

A car can be sold to the dealer

If your car is relatively new, has low mileage and is a model that is sought-after secondhand, or if it has particular specialist or niche appeal and appeals to a particular group of people, then a dealer (franchised or an independent) with a focus on that brand or type of vehicle may be interested in buying it completely. Clean, well-maintained mainstream vehicles are also appreciated by smaller local dealers, particularly if it’s a car that they are confident they will be able to be able to sell quickly. This can be a quick and easy method of selling but it’s not necessarily the most profitable.

Auction to sell a car auction

A car that you want to sell at an auction is a far more private option to dispose of it. However, there are no guarantees of selling and prices are not generally high. You’ll need to pay an entry fee and set an amount for reserve. If the vehicle does not sell at the value, you’ll need to take it home or try it in another sale. If you do not receive the payments from the auction house in a timely manner, commissions will be deducted.

Online auctions

Auction websites, such as Ebay, are a popular way to sell and buy second-hand vehicles of all sorts and of all ages. It is typical to pay some fee, and you can decide on a reserve price. Ebay offers a ‘buy it now’ option for the price of a predetermined amount. Buyers are able to make inquiries prior to the sale, but as that the vehicle is properly described, bids are legally legal. You should follow the same procedure for writing an Ebay advertisement in the same way as you would for an advertisement in a classified publication, as described above.

As the buyer may be buying without seeing the item, don’t be expecting to receive a high price. Be wary of bidders who have no Ebay background or favorable feedback. Do not trade with someone offering you a suspiciously high amount to settle the purchase outside of Ebay’s payment system (ie giving your bank account details).

Donate a car to charity

If you’re trapped with a car of low value or just don’t want to face the tyre-kickers donate it to a charity. Many charities, from big household names to small local fund-raising organizations, have registered to programs where cars donated to them can be taken in and auctioned (if the vehicle is road-worthy) or scrapped and reused, which will benefit the charity with the price paid. It is often conducted in conjunction with social enterprises, for instance the ones that offer work experiences to the most vulnerable.

You’ll be able to declare the donations by naming it Gift Aid, which will increase the money your chosen charity receives. Explore the various schemes, however, because some allow fees for administration and vehicle collection, reducing the money a charity gets.

Six tips to sell your vehicle

Before you begin drafting an ad, there are some tips you can use to increase the value of your car. Here are our top suggestions in preparing your vehicle for sale.

1. Make sure you know the right price

You don’t want to undervalue your car. Before you sign any part-exchange deal or put your car on sale check out similar models that are advertised online. Make sure you find vehicles which are similar in size and model. This will give you a an idea of the price your car will sell for.

2. Take a look at an MOT (and take your documentation)

A car that recently been tested for an MOT is more appealing than one that didn’t. It’s not just that the buyer won’t have to purchase a new MOT in the first place, but buyers is more sure that the car is in a good state.

You should also ensure that you have all relevant documentation to hand. Here’s a brief checklist of documents:

V5C (logbook)
MOT certifications
Service book
Manual
Large invoices and receipts for the work performed or parts bought.

If necessary, ensure you are able to prove that all remaining loans paid off and that the vehicle remains yours for sale.

3. Look up all of the key and other accessories

Gather all the keys that you have for your vehicle which includes (if you have locking wheel nuts) the socket-style tools to unlock alloy wheels. Make sure to re-install any parts or accessories that you may have removed, like a parcel shelf for the boot or a tool kit.

4. Make sure it looks nice with a spick and stretch

Before taking pictures, and before anyone takes the vehicle for a test drive make sure it is clean both inside and outside. Particularly pay attention to components that drivers are likely to see including the dashboard and steering wheel, the seats, carpets , and windows.

If your car is relatively new and high value It could be worth the cost of having any minor bodywork damage and paintwork scrapes replaced, or resurfacing the alloy wheels that have been scratched.

5. Delete your personal data

You may be wondering what information? If your phone is equipped with Bluetooth, you may have copied your phone book into your car’s memory as a built-in Sat nav may have the addresses of your home, work and friends stored in its memory. This isn’t information you (or your acquaintances) are likely to share by accident, so remove it before you sell.

You will also need to cancel your rights to access the vehicle and provide proof of this to the buyer.

Here’s how it’s done:

Clear your data – go to the infotainment system in your car and check the Settings menu for options to erase your account and data. Go through the manual if you are unable to locate it on the unit itself. If you take to the dealer or buyer Don’t connect your smartphone to your car, because there’s a chance you’ll leave traces that wasn’t deleted.
Refuse access. Simply deleting the car’s application from your phone isn’t enough to revoke access. You’ll 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 device or read the manual to ensure that your access is removed completely prior to when you sell it.

If you’re still unsure how to accomplish this then give the manufacturer a ring to ask for help.

6. Honesty is always the ideal policy (really)

It’s tempting to be somewhat, let’s say, ‘economical’ with the truth. However, if you’re upfront about your vehicle and answer all questions honestly and honestly, the purchase should be simple and a buyer will be granted a very limited legal recourse if the car should become damaged later on.
Other aspects to be considered

Legally accountable for your vehicle up to the point that DVLA is notified of its sale, either via sending a portion or all of your V5C (logbook) or notifying the DVLA through their online system.
The next full month’s vehicle tax (VED) you have paid will be returned to the person named on the V5C. The new buyer will need to charge the car’s tax themselves.
Settle any outstanding finance through your loan provider.
The buyer must notify an insurance company, if applicable about the change in ownership. Products such as servicing packages when purchased originally may also be transferable.
Be sure to inform your insurer that you do not own the car anymore.