A Guide to Selling Your Car
There are 3 main ways to cash in on your old car, let’s take a look at them here and help you get the best price for your old car.
Sellling to a car-buying service
Websites Like WeBuyAnyCar, CarWow, Motorway and AutoTrader offer cash for your car, simply input some basic details about your vehicle and its condition and get an immediate cash purchase offer indication online. As long as everything you’ve said is true and the condition is verified you will be sent the money vias bank transfer.
This can be a great way to get rid of your car with very little hassle and with no real risk of being scammed. You won’t always get the most amazing price but people are often amazed by how much these services are offering, particularly with used car values being so high.
The other great point is that you get paid quickly rather than sitting around waiting for tyre-kickers to turn up at your house to view your car.
Private sale
Selling privately can get you the best financial return but it’s not without its downsides.
Preparing your car to a high standard and taking great photographs of your car is essential if you want to attract buyers willing to pay a good price. This means getting the car valeted, taking care of any scuffs or scratches on the bodywork and taking the car to a great location to take some photos.
It’s always worth photographing the service history too as it shows that you have little to hide.
Be upfront and honest about any problems or damage, people are far more likely to be responsive to honesty rather than turning up to see a car in “perfect condition” with 3 dents and a scuffed allow wheel.
The major downsides of selling privately are waiting around for people to arrive (or to no-show) and your phone will often be bombarded by scammers and salespeople.
There are several well-known scams that you’re opening yourself up to when selling a car privately these days so do your research - my YouTube channel is a good place to start!
Before selling privately, consider how much spare time you have, how much advertising will cost, how many cold calls you’ll get from salespeople, how many daft questions you’ll be asked by potential buyers, your ability to deal with idiots, and how much extra you’ll actually potentially get over a car buying service. Those few things alone may help you decide how to sell your car.
Part exchange
Whilst this is an easy option its often used as a good “smoke and mirrors” tool by salespeople. They sell you a £6,000 for £8,000 but gave you an £1,500 part exchange on your old car when WeBuyAnyCar only offered £1,200 - see what I mean? Offering a high p/ex value is often used to draw your attention away from the inflated sale price.
For some people it’s the best option but just be aware that part exchange can sometimes work better for the dealer than it does for you.
Want to learn More?
Why not check out my book at Amazon?
Buying a Used Car in the UK : Avoid The Scams & Find The Best Deals by Jim Starling