We’ve teamed up with Motorway, the comparison site to sell your car to bring you their 10 tips to help you sell your car for the best price and no hassle.
1. Understand your car’s value before putting it up for sale
Your car’s age and mileage, as well as its condition and service history will all affect the sale price – but market prices are probably the biggest driver of all. Research what your car is worth, either on Auto Trader, at your local car dealership or check out a car valuation website like Parkers.
2. Weigh up price vs. speed of sale and choose the right option based on what’s important to you.
For price, try selling privately on sites like Auto Trader or eBay – but be prepared for potential long selling times, showing the car to several prospective buyers, bartering and no guarantees of a sale happening. For speed, sell your car outright to an online buyer or specialist dealer.
3. Don’t opt for part-exchange just because it’s easy
While part exchange is definitely low hassle, you might not be getting the best price. Unless you own a car the dealer really wants to buy to retail, you’re not going to secure a good price, as they then need to offload it to another dealer and so need to make a good enough margin from that sale – at your expense!
4. Be realistic
If your car is worth less than £200, you may get more selling for scrap.
5. If you go down the online route, consider your options before making a decision
Whilst there are now several online buyers, there are considerable differences between these services. The price consumers are quoted by some online buyers is rarely the price they end up getting, because this quote is based on the car being in ‘showroom’ condition, rather than its most likely condition for its age and mileage. Motorists can compare prices online using Motorway to ensure they get the best deal at a fair price.
Motorway allows you to compare offers from 1,500+ car buying companies, including instant buyers and hundreds of independent dealers and well-known dealership groups, making it easy to choose your best buyer on the platform. Motorway even provides an accurate estimate of what you will get paid on the day of sale through its TruePrice™ technology – by taking the guide price valuations from online buyers, and then comparing it with historic final sale prices from similar completed sales to give you a better idea of what you will actually receive in your bank account.
6. Prepare your car for the day of sale
Make sure it is washed and cleaned and fix any minor scratches or dents, so it looks as good as possible to avoid buyers chipping away at the price at the last minute.
7. Be ready to negotiate
Doing the research to know what your car is worth will help you argue back if the buyer tries to reduce the price when they inspect the car.
8. Never accept cheques, bankers drafts or IOUs
Do not hand over your keys until you have been paid for your car. That goes for private buyers and car dealers or car buyers.
9. Get your paperwork in order
From your V5C document, service and MOT history to the spare keys. If you’re missing any of these, a buyer will have a good case to drop the final price offered.
10. Get money back after the sale
Don’t forget to send back the remaining part of the V5C form back to the DVLA, cancel your car insurance and reclaim your road tax.