>15
May
Selling your car might feel like a daunting task, but with the right approach, it can be simple and hassle-free. In this guide, we’ll take you through the best way to sell your car depending on your main goals, plus some tips on how to streamline your sale and get the best price for your vehicle.
What’s the best way to sell your car?
There are a few options when it comes to selling your car. What will be the best one for you will depend on what your priority is.
Part exchange
If you want to sell your car and then get another one straight away, selling your car to a dealer can be the best solution. When you part exchange your car in this way, the value of your current vehicle will be taken off the price of the vehicle you want to buy. This can be a good option when you want another car but might not have all the funds needed to purchase the one you want outright.
Part exchange can also be used alongside a car finance deal, usually as a deposit. The more your current car is worth, the higher the deposit you can pay and the lower your monthly payments will be. With GetCarFinanceHere, you can trade in your car as a deposit on your car finance.
Selling your car to a dealer might mean you don’t get as high a price for your vehicle as you might if you sold it privately. However, it can save you a lot of time and hassle, as you won’t have to advertise the car for sale or deal with potential buyers and test drives.
Private sale
If you want to get the maximum price for your car, the best way to sell could be via a private sale. This will typically take up more time – you’ll need to deal with enquiries from potential buyers, conduct test drives and viewings, and negotiate a fair price.
You might also need to organise and pay for advertising, to get your car listing in front of more people. You can do this online using car selling sites like AutoTrader and PistonHeads, or even Gumtree. You can also use social media to advertise your car sale and ask your friends to share your post to help expand the reach. A free way of advertising your car for sale is to simply put a “for sale” sign in the window of the vehicle.
Car buying service online
If you want to sell your car in a quick and simple way, you can use a car buying service online. There are numerous sites that guarantee to buy your car, so this can be a good option if your main priority is to get rid of your car for cash.
Typically, to sell your car using these sites you have to first input your registration number onto their website. They’ll give you an initial valuation based on market value. You’ll then need to take your vehicle to a local depot where it will be assessed, and a final value given. If you’re happy with that price, you can sell your car to them.
Whilst this can be the simplest way to guarantee a car sale, you might not get the best price. Often selling privately can get a better price, and even part exchange might result in more money for your vehicle.
Auction
Another way to sell your car is via auction. This can be a simple option, as you won’t have to spend time or money advertising the vehicle or dealing with enquiries and viewings. You can also set a reserve price, so you should know the minimum amount you’ll get for the vehicle. There’s no guarantee with an auction that you’ll get a good price. You may end up getting less than if you’d sold privately, but if the right buyer is present at the auction, you could get more. If this reserve price isn’t met, you’ll have to try another sale another time.
There are large national auction companies that specialise in auctioning vehicles, but you could also look for a smaller local auction house. Some might offer a free valuation service, so you can set a realistic price for your vehicle.
Tips to sell your car
However you decide to sell your car, there are some steps you can take to streamline the sale and help to get you the best price for your vehicle.
Gather your documents
You should gather all the documents associated with your vehicle. This will include your V5 document, car manual, and MOT certificates. If you have a fully stamped service book, this can help to boost the attractiveness of your vehicle and help to negotiate a better price.
Potential buyers may ask to see your vehicle’s documents, to check that the details match the car. You can show them the documents, but don’t let them take copies or photos, and don’t show them the reference number of your V5 documents. Fraudsters can use this to get a copy of your logbook, which puts your car at risk of getting cloned or stolen.
You should only give the buyer the vehicle documents once the sale has been completed. You should also then inform the DVLA that the vehicle has a new owner.
Gather your car’s accessories
Before you sell your car, you should gather all the accessories you have for the vehicle. This will include all keys, including spares, and the locking wheel nut. You could also replace any parts that have been used or removed from the car, such as a spare emergency tyre and the parcel shelf.
Get the car looking pristine
A good way to help get the best price for your vehicle is by getting your car looking pristine. Before you take photos to advertise the car or before you take viewings, give the car a thorough clean inside and out. If you have any scratches on the paintwork, see if you can fix them by polishing or with a car scratch repair kit.
Beware of fraudsters
If you sell your car privately, you will need to be aware of fraudsters. Unfortunately, there are some common scams that target people selling their car online. You should be vigilant and only deal with people who genuinely want to buy your car. Beware of people who offer to buy the car without seeing it or want to use an uncommon payment transaction.
The best way to receive money is via a bank transfer. You should wait for the money to appear in your account before you hand over the keys, which usually doesn’t take long. If someone wants to pay via cheque, you should wait for the money to clear before you let go of the car.
Looking for a new car?
If you’re looking to get a new car once you’ve sold your old one, GetCarFinanceHere can help. Our expert team can find you the best car finance deals from our network of lenders and will be on hand to guide you through the whole process. You can apply online for car finance or contact us for more information.