So, it’s time to sell your car. You want to get a good price, but you also don’t want to spend months paying for a classified ad wondering why nobody wants your motor.
To make sure you shift your vehicle in a prompt manner while also getting a good deal for you and your buyer, we’ve put together a quick how-to…
1. Do your research
Considering that the price is one of the most important aspects of selling your car, it’s generally worth putting in a bit of time do your research. It might be a little time-consuming but it can really pay off in the long run.
The most important things to consider are the age, colour, mileage and condition. You can use classified ad websites and refine your search so it only shows cars that match your own on these criteria, and see what price they’re going for.
Once you’ve checked a few different sites, you should have a pretty good idea how much your motor is worth.
2. Use a free valuation tool
If you don’t fancy putting in too much time when selling your car, there are a few free valuation tools out there that can use data gleaned from car marketplaces to give you a quick estimate.
They will use a similar approach to the above, asking for info such as mileage, age and condition of the car so they can calculate its worth. This might be a good starting point, but we’d recommend double checking the results against live ads just to make sure.
3. Decide if you want the full value or a quick sale
Depending on how keen you are to sell your motor, there can be a tradeoff when it comes to time or profit. If you’re looking for a quick sale of a car that’s either not particularly desirable or there’s plenty in supply, you may have to accept taking a loss on its value.
On the flip side, if you’re willing to wait a bit if that means earning more money, holding out for the right buyer could prove a profitable move.
4. Remember: values differ depending on the buyer
The last thing to bear in mind is that the value of your car can differ greatly depending on who you’re selling it to.
For example, if you’re selling it privately you’ll be able to get a bit more for the car as reward for putting in the time and effort to advertise it. However, even if you follow the tips above to value your car correctly, how long it takes to sell your car is somewhat out of your control.
On the other hand, you could sell it to a dealership. This is a way to ensure a quick sale, but the dealer will need to make a profit when they sell it on, so you’ll get below the market value for the privilege of a quick sale.