Selling a Car

So you want to sell your car?

There are a number of things to consider before you advertise

How do you want to sell – Privately, By Auction, through a Dealer, by Trade-In?
What is my car worth?
How do I maximise my profit?
How do I prepare my car?
How do I deal with potential buyers?

Top Tips

Choose when you sell – do not try and sell after Christmas or after a number plate change.

It is best to sell cars while they still have a relatively low mileage (40 000 for 3yr old car)

For older cars, it is more important that the vehicle is in good condition and has a clear history.

You will need to gather all relevant documents together and keep them in a folder – log book, MOT certificate, handbook and any receipts for repairs and spare parts.

If you have trouble selling the car, consider if the price is too high or whether it looks any different to how it sounds in the advert.

Trading your car in

This is a quick and relatively easy way to get rid of your old car. It is worthwhile to prepare your car well first – wash, clean and check. You will not get such a good price as you would with selling privately. You need to look at the price you are being offered for your car and what you are paying for the new car, then work out the difference to see what you are actually paying for your new car.

Sometimes it can seem like the dealer is giving you a generous price for your car, but they may be making money elsewhere by boosting the cost of the car you are buying. Do not be frightened to ask the dealer how they came to the price they have, as this may make clear any hidden costs to you.

Selling to a Dealer

Again, this is a quick way to sell your car. The price you get will not be as good as selling privately.

Selling by Auction

This is a quick way to sell your car. You may only get a trade-in price or less. You must put a reserve price on otherwise your car could potentially be sold for as little £20. The auction housewill take about 10% of the profit from the sale.

Selling Privately

This is the best way to get a good price for your car, but it is not hassle free. You need to decide where to advertise, how much to advertise the car for, and how best to deal with potential buyers.

Advertising

This can be through the local papers, auto magazines, national newspapers, websites and even enthusiasts clubs. Gumtree now have a new ‘Sell my car‘ section which is worth a look.

Many websites offer special deals that may be worth taking.

The advert itself should be factual and include:

make and model of the car
colour
age/registration letter
mileage
condition
any extras (alloy wheels, air conditioning)
number of owners
service history
length of tax/ MOT
Photo – taken in daylight with a neutral background
Price and area you live

Pricing

To get an idea of what your car is worth, look in guides such as Parkers, or check adverts for the same model of car in newspapers, magazines ( Exchange & Mart ) and the internet ( Autotrader ).

You will need to be honest with yourself about the condition of your car, so you do not overprice it and get no offers.For prestige/specialist cars visit owners and enthusiasts clubs.

Preparing to sell

Clean the car inside and out – this can add hundreds of pounds to the price!
Shampoo the car with proper car shampoo, rinse and dry with a chamois.
Polish the car – good T-cut.
Consider a professional valet if you do not have the time or energy required to clean the car well.
Clean the dashboard, windows and upholstery.
Vacuum carpets and replace old, tattered mats.
Do any repairs needed – replace bulbs, touch-up scratches, replace worn windscreen wipers.
Top up the oil, coolant, screenwash and brake fluid. It may also be worth changing the oil if the car has not been serviced recently.
Replace any missing wheel trims, or clean alloy wheels.
Any specialist accessories should be changed, such as racing steering wheels, gear knobs or alloy pedal covers.
This all emphasizes that the car has been well-cared for, which is what buyers want to see.
If car is over 3 years old, it may be worth getting a new MOT as this gives potential buyers the confidence in the car that it will be reliable.
Dealing with potential buyers
You will need to be prepared for timewasters, and people that do not turn up.
You also need to be aware that your car may be a target for thieves, and take necessary precautions.
People will want to test drive the car – do not let them go alone, and if you are a woman it may be safer to take along a friend.
On the test drive, allow them to choose their own route.
Do not hand them the ignition keys.
Be prepared to negotiate a price, it may be better to take slightly less than to risk not selling at all.
Be patient – it is increasingly common for buyers to get professional inspections done before making an offer, but it shows they are genuinely interested.
On offer, take a deposit and set a time limit for full payment.
Once an offer has been made, take the details of the buyer – name, address and landline telephone number. It may be safer to ask for ID to confirm this.
Being paid in cash is safest and simplest, but if you are paid by cheque wait for it to clear before giving the keys or documentation to the buyer.
Write 2 reciepts – one for the buyer and one for you – with the details of the sale and the date.
Fill out and send the necessary paperwork to inform the DVLA that you no longer own the car and are not liable for any charges.

Some Useful Addresses

(prices may have changed over time)

www.Fish4.co.uk – £9.95 for 2wks advertising on website used by over 400,000 car buyers a month. Free advertising on NTL and Telewests interactive TV service.

www.autoseek.co.uk – £8 to advertise your car until it is sold. Approved by Which? Car magazine. Has over 6000 visitors to the site a day.

www.carsource.co.uk – £20 for 3wks advertising. 200,000 visitors per month. After 17 days, re-advertising is free of charge.

www.usedcarmart.co.uk – Free advertising to UK car owners. Upgrade to 30 days for £10.

www.autotrader.co.uk – £15 for 2wks advertising on website

www.comebuycars.co.uk – £15 for advertising till sold. 200,000 visitors a week.