Most of us have to sell our existing car to buy a new car. When you take it to a dealer, they will offer you a trade price if you intend to part exchange it. If you’re happy with the price you’ve been offered, then great, get the deal done.
Unfortunately, what you think your car is worth and what it’s actually worth to the dealer maybe two different prices.
Remember, the dealer is operating a business that wouldn’t exist if they will not make a profit. So they would ideally like to make a profit on your car or at least not make a loss. If you’re not happy with the price offered, you can always choose to sell your car privately.
Here are 20 tips that will help you sell your car quickly for the right price.
1) Make sure the car is in good running condition.
It is illegal to sell an unroadworthy vehicle. If you are not sure about your car’s overall condition, have it checked by a professional. As an alternative, you can check vehicle history by decoding the VIN number on checkcardna.com website.
2) Clean your car before posting it for sale.
Get it detailed. Detailing can add £200 or more to a car’s resale value.
3) Take great photos of your car in a nice and bright location.
4) A video ad of your car might also help to make it sell fast.
5) Price your car according to its age, condition and mileage.
If you don’t have any idea, check other similar cars that are also for sale. Leave a room for haggle in case the buyer would want to bargain.
6) Write a catchy advert.
Put the car’s correct description, particularly its condition and mileage.
7) Prepare the MOT
So the buyer would know your car’s basic condition.
8) To sell your car fast.
Enlist it in at least three or more online sites where there are groups of interested buyers.
9) Inform your friends that you are selling your car.
10) Participate in any online forum to meet possible buyers.
11) If you are still paying for your car, get the permission of the financing company before posting it for sale. Or settle the account before selling it.
12) Prepare all the car’s documents
Including its service records and receipts. Show any stamped dealer service record you kept as this would add value to your car.
13) Have the buyer inspect your car in your home but make sure your garage is clean.
14) If the buyer wants to test drive your car, ask for his driving license. Be there with the buyer during the test drive and ask someone to accompany you.
15) Avoid making false or reckless claims.
16) Once you closed the deal with a buyer, prefer to receive the payment in cash or bank transfer using the CHAPS system, which is irrevocable.
17) After receiving the payment, provide a ‘sold as seen, tried and approved without guarantee’ receipt.
18) Make a seller’s contract printed in two copies (for you and for the buyer).
19) Immediately after the sale, notify the DVLA to waive you of any responsibility of the car.
20) Send a completely filled up V5C with the new owner’s details to DVLA.
