How to Sell a Used Car
If you’re thinking about replacing your existing car with a newer model, always consider how the old one is going to be sold.
When selling a car, you’ll have to decide if you want to sell it as quickly as possible and accept you won’t make back the full value of the car, or whether to put in a considerable amount of effort and get as close to the true value of the car as possible. With this in mind, there are three main angles of attack you may consider when selling your old car: a private sale, part-exchange, and at auction.
The first of these, a private sale, means that you have to advertise your car and be available for viewings and taking phone calls. However, this extra work means that you gain the most potential money from the sale. The second, part-exchange, is the easiest way to sell, but in doing so, you’re giving away a considerable amount of profit. The third and final popular method of selling a car, at auction, has its own benefits and drawbacks. In general, it’s a quick way to sell your car; but sometimes you’ll get even less than the trade value, and there’s normally a fee involved as well. It’s a gamble, but it can pay off.
Regardless of your choice, advertising in March and September is the worst time to sell a car, as the value of a car goes down in these times when new registration numbers become available. This means there are lots of part-exchange second hand cars on the market, limiting the number of potential buyers.
When selling privately, there are a number of options for advertising your car. Here are some of the most effective options.
Advertising in print publications such as a regional newspaper or in papers like FreeAds is still very popular. Many people still look at these publications, and a simple ad at a bargain price is often enough to get the job done.
Advertising for free is possible on www.autoweb.co.uk, and the targeted nature of this form of advertising means that it reaches those who are most likely to want to purchase your car. People searching directly for the same vehicle or similar models to yours will be led directly to your advert. A brief, straightforward ad with lots of relevant information will do the trick when it comes to people arranging viewings. Try to arrange a full MoT and get as much service history as you can to maximise interest.
Deciding what price to advertise is a key part of making a great sale. Take a look at Parker’s Used Car Prices to get a fair idea of the value of your vehicle. This website gives a realistic series of guide prices depending on the condition of your car, and provides a great starting point for anyone seeking a ballpark figure on which to base their asking price. When you have a price in mind, take a quick look through the ads on Autoweb to double check that your price is right. Make sure your car is clean, hasn’t got lots of visible scratches, and starts the first time when a provisional buyer comes to visit. And remember - don’t hand over the keys or sign the V5 before you’ve actually received the cleared funds into your account.