Upgrading, moving or simply just looking for a new car, there are many different options to sell your old vehicle. Before you start looking to sell, there are a few things you need to consider.
1. Price research
The value of your car may have changed dramatically since you purchased it, and is dependent on a range of factors including the age, make and market conditions. For these reasons, it is important to do your research to figure out a reasonable price that you would accept to sell your vehicle for. There are plenty of online tools that can help you do this, but it’s important to understand the nature of the information you’re collecting. Whilst classified sites are easily accessible for price research, they present the listing price rather than the sold price, so it is important to compare these prices with tools such as Prices People Pay that give you actual sold prices.
2. Method of selling
Selling Privately
One of the most popular ways to sell your vehicle is through a classified platform, where you can list your car, take photos and describe the car. People can then contact you to make an offer, and will often come and inspect the car. Selling privately provides you with complete control over the sale including the price, however keep in mind prospective buyers will often try and negotiate with you.
Selling privately may also take longer than other avenues when you take into account preparing the car, listing and people inspecting the vehicle.
Selling Online
If you don’t want to go through the hassle of selling your car privately, there are many providers who allow you to sell your car directly to them online. Some of these providers, such as DIYinspect, even allow you to take photos of the vehicle through an app and complete a remote inspection, meaning that you don’t have to leave home to sell your vehicle. This can be a good option if you’re looking for a quick and hassle-free sale, and want to avoid the negotiations that come with selling privately.
Trade-In or Sell to a Dealership
If you’re looking to buy your next car from a dealership, you will often have the option to trade-in your old vehicle, and get a discount on the price of your new car. The trade-in value of the vehicle is dependent on a number of factors including the market, the make and model and the age and condition of the vehicle. This can be a convenient option if you’re looking for a quick sale, and if you’ve already selected the new car you’re hoping to purchase. The dealership will be experienced in selling vehicles and can therefore assist throughout the process.
Before putting your vehicle on the market, ensure you do your research. Use tools such as Prices People Pay to find out what your car should be worth and make sure you understand the process and what is involved.
