If you’re looking to sell your car for the best possible price, then it’s worth putting in a little bit of research. A car, after all, is a high-value asset – and a few small tweaks to your approach could make a difference of hundreds, if not thousands, of pounds.
WHY SELL YOUR CAR?
Perhaps the first question to ask concerns the appropriate time to sell a car. You might want to sell a car before it’s reached peak depreciation (which tends to mean around the three-year mark). It might be that you’re looking to finance another purchase, in which case the best time to sell is often immediately.
If your professional circumstances have changed, it might mean that you no longer need to commute by road. In this case, you can cash in on your car, avoid the ongoing costs of parking and road tax, and take the train to work instead.
SELLING TO DEALERSHIPS AND PART EXCHANGE
If you have a good reason to sell, you might still wonder who you’re going to sell to. Selling at a dealership is the simplest option. But you’ll be paying a slight premium for the convenience you enjoy.
It might be that you’re tempted to buy a replacement vehicle from the same dealership, in which case a part exchange might be a tempting prospect, and put the sale price toward the replacement. Again, you’re paying extra for the sake of convenience. Shop around and determine whether it’s worth it.
SELLING PRIVATELY
Selling privately will allow you to secure the best possible deal – but this approach will confer a degree of risk, and it will often mean extra hassle. You can sell via dedicated social media sites, and online listings. You’ll need to set aside time to deal with potential buyers and go for test drives.
CONDITION
The condition of your vehicle will hugely influence the final sale price. Small dents and scratches will indicate to the buyer that they should be asking for a discount. Moreover, it might give off a general sense of neglect. As such, it’s worth getting minor faults fixed, and being honest about any major ones.
Make sure that the car is clean, outside and in, and that the service history (along with other essential documentation) is complete and update. Look for car servicing near me and get the car ready for sale.
NEGOTIATION AND PAYMENT
Finally, you’ll want to think about how you’re going to take the money. Cash might not be an option if thousands upon thousands of pounds are changing hands. Be wary of scams and tricks – but don’t be afraid to haggle in search of the best deal.