Cars are a big investment. We get a lot of use out of them while we own them, which gives a lot of value for money but to achieve a good return you need to get as much as you can when you sell the car.
Many people lose out when they sell their car, either accepting a low price in a part exchange deal or failing to follow a few simple rules that can get them the most for their motor. Here we are going to look at some simple tips that can help anyone sell any car and get a better price.
Remove Any Customisations
Many people invest a little of their disposable income on upgrades and personalisation for their automobiles. This can help make a car feel unique, and sometimes it can improve its look or sound.
When it is time to sell a car, these additions need to go if you want to get the best price. The next owner may not share your tastes or may not be interested in performance upgrades, and the customisations could put them off buying or influence them into giving you a low-ball offer.
If you have personal JDM plates or other custom number plates on your car, then you have an opportunity to make a little extra from the sale. You can sell your plates for some extra cash to put towards your next car. Before you sell the plates, you will need to make sure they have been transferred off of the car. Regtransfers can help you cash in on personal number plates and sell them at the best price, putting more in your pocket from selling your car.
Check Your Car’s Value
Everyone is entitled to think their car is special, but the market decides how much a car is ultimately worth. The supply and demand of second-hand cars can fluctuate wildly over the year, so when you are working out your car’s value, consider the season. In the summer, prices can spike a little, especially for sports coupes, convertibles, and cabriolets.
The biggest factors influencing your car’s value are its age and condition. If a nearly new car is in a sorry state, it will be worth a lot less. If you have a vintage vehicle that has been kept in showroom quality, you can expect a big windfall.
Look online at the prices other cars like yours are selling for and compare their quality and condition. If you have been maintaining your vehicle properly you should be able to make a sale at the higher end of the price range.
Set Your Selling Standards
You need to get a deal that suits you, not the buyer. You may feel under pressure to make a quick sale so you can move on to your next motor, but you have all the power in this transaction. Before you put your car up for sale, set your selling price and the minimum amount you will accept if any haggling begins.
This is important whether you are selling your car privately or using it in part exchange for a new car. Set your selling standards and do not settle for anything less than you are prepared to accept. When selling privately a buyer may offer all kinds of structured deals or incentives, but these are for their benefit and not for yours.
When selling to a dealer, either in part exchange or for cash, remember that money has the best value in this trade. They may offer a full fuel tank for your next car or cheap servicing, but these incentives save their business money, not you.
Investigate Online Deals
We have all seen the television advertising and got their jingles stuck in our heads. There are plenty of companies out there that will ‘buy any vehicle’ and you simply enter your registration number on their site to get an offer. These can be handy to get an idea of your car value, but this will always be a rock bottom offer.
If you want a super-quick sale and you are happy with the offer, then click accept and sell your car. If you want to get the most money for your motor, you should look elsewhere. These sites are best for getting an idea of your car’s lowest price and giving you an option if you struggle to make a sale or part exchange.
Fully Valet Your Vehicle
You would be surprised at how many people try to sell their car without even giving it a clean. No one will want to buy a messy car, littered with the debris of meal deals and grimy on the outside. Before you sell your car and take any pictures if you plan to sell online, get your car fully valeted.
The outside of the car needs a conscientious cleaning that includes the wheels and tyres as well as areas in the engine bay. The brake dust, grease, grime, and oils that a car picks up every day need to be removed so the car sparkles. You can even have your engine steam cleaned if you want your vehicle to look the best it can.
Plan Your Payment Options
There are some do’s and don’ts of accepting large payments for a high-value commodity like a car. If you are choosing to part exchange or sell outright to a dealer, then you will not have to worry about how to get paid; a dealer will have plenty of legitimate options available to you.
When you are a private seller accepting payment from a private buyer, things get more complicated. You are both in a position where you need to trust each other, often placing thousands or tens of thousands of pounds on the outcome of this deal.
Do not be intimidated, it is a straightforward process with a few simple rules that can protect you. If you are unsure about completing the process yourself it is advisable to bring in an impartial entity as a third party, like a bank or legal service, to help facilitate this deal.
When selling your car to a private buyer, you should not hand any keys to the vehicle or any registration papers until the funds are in your account. Swapping a cheque for a vehicle is a bad idea or taking a deposit and handing over the keys. A simple rule to remember is that neither of you is allowed to have the keys, the paperwork, and the payment simultaneously.
Modern car sales involve modern payment methods. Though cash may be king, it is advisable to keep electronic payments, not physical, at this transaction level. This creates a paper trail that both parties can rely on and is a safer way to make a payment.
Holding large sums of cash is a vulnerability, and the many notes may include forgeries and must be counted. Save time and worry and use bank transfers or even PayPal.
Do not let yourself be persuaded to do a deal, or reduce your asking price, for a cash payment. There is no advantage to you for doing this, and any buyer who can produce a lot of cash can make an electronic payment.
Follow these simple tips, and you could get an extra 10-20% on the sale price of your motor, or more. Do not be intimidated by the haggling and tyre-kicking of a car sale, and go into the deal prepared.