Personal Finance

What To Know When You Sell Your Car

when you sll your car: red Beetle car.

Sometimes in life it’s simply time to trade up. It could be that your circumstances have changed and you can afford a nicer vehicle, it could be that you need more space or that you want to select a more eco-friendly car. It could even be that your old one is starting to need more and more mechanical help to keep running.

Whatever the reason, upgrading your car is quite an exciting moment, whether you opt for car finance on a brand new vehicle, or go for something nearly-new. One of the most important aspects in getting a good deal overall is often overlooked though – trading in your old car.  So how do you get a fair sale price when you sell your car?

Choose Your Route

There are several ways that you can sell your old vehicle in order to finance a new purchase. The first is a private sale – this will usually get a higher price for the car than trading it into a dealer, but it does require more effort on your part, prepping the vehicle for sale, listing it on sites and dealing with enquiries.

The second route is to part-exchange your car, selling it to the dealer that you are purchasing from. Even if you choose to use a specialist site such as ChooseMyCar you can sell elsewhere. Lastly, there are car buying services which will assess your vehicle for condition and make you an offer.

Prep Your Vehicle

Whichever route you choose to sell your car, the next step is to ‘stage’ your vehicle like you would if you were trying to sell your house. Take the car for a thorough wash and detailed valet inside and out, and treat any minor scratches in the paintwork with a car paint pen.

If your car looks clean and well cared for, you are likely to get more interest in a sale, and buyers and car dealers will often see it as better looked after. You want the vehicle to look as pristine and appealing as it can.

Get Your Records In Order

Before listing your car for sale, make sure that you also have all the paperwork organised and to hand – essential ownership documents, records of servicing and receipts for any parts or repairs you had made to the car. A stamped log book with a service record can really enhance the resale value of your car.

Often, car dealers will make an initial offer and then try to climb down on the price by pointing out perceived flaws, and if you have the papers for any work it can just help to back you up.

Do Your Research

Knowledge is definitely power when it comes to selling your car, so go into it armed with an idea of what your make and model of car normally fetches – sites like Parker’s are brilliant for calculating a fair sale price.

Print out some information on what cars in similar condition and mileage have sold for recently. Bring your negotiation skills and be prepared for the first offer to be lower than you wanted – then when you make a higher counter-offer, you have the facts to back your argument up.

 

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