There are many things to think about when selling your vehicle. Are you looking to sell your car quickly? You want to make as much money as possible? Do you want the selling process to be as simple and stress-free as it can be?
Selling quickly using the traditional method
If you’re thinking of trading up your old car for one that’s newer, generally you’d exchange your car at the dealership.
However, you can’t be certain that you’re receiving the best value. The dealer might have to take your car to an auction. And, of course, they’ll want to make an income. So they may not offer the same car’s value.
Selling your car privately
Selling privately may earn you more cash, assuming you can find a buyer, however it’s typically more work. You’ll have to:
Find and pay for ads
Get your documents ready
Meet with potential buyers – such as enquiries or viewings, as well as test drives
Negotiate a fair price
You must ensure that payments are made in a secure and legally legal way
Selling your car through an online auction
If you are looking for the same price you’d get by selling your vehicle privately, without the hassle-inducing chores that come with it You should consider using an online marketplace
That way, you don’t have to sacrifice value or the ease of selling. They offer an easy, quick and easy method of getting the most money for your vehicle. Additionally, they’re free to use.
You can usually do everything with your smartphone in just a few minutes.
If you submit your car in their daily auction, they’ll display it to their nationwide network of used car dealers. The dealers who are interested will compete to purchase your vehicle by offering you their best price.
In just 24-hours, you’ll receive the best price. If you choose to go ahead with the purchase the dealer will take your vehicle at no cost and deposit the cash into your account swiftly and securely.
Make sure you price your car in a realistic way
If you are looking for a quick sale, it is important to set a realistic price for your car.
You can conduct some online research on websites like eBay, AutoTrader and AA Cars to check out similar cars are going for. You can also look up dealerships in your area.
Preparing your car for sale
When you decide to market your vehicle, making it ‘sale-ready’ is essential if you want to sell your car quickly and receive the highest price. The appearance, the mechanical condition, and service history can all have an impact on the final price. It is important to:
Clean your car from inside to out, and make sure that it’s always clean
Repair minor paintwork damages or other mechanical faults
Get a new MOT, especially if you have less than three months left on the existing one
Think about a professional, full valet service. It will save you time and can truly make a the difference.
Finance a car purchase
If you’re planning to sell the car you’re financing, the best starting point is to call your financial institution to inquire about your options , or ask for their consent.
If you are selling your car privately, you’ll need to pay off any outstanding finance first , as it’s prohibited to trade in a vehicle that you don’t own fully. And don’t forget any outstanding hire-purchase or conditional sale agreements.
If you’re selling using a dealer, they may be able to make your selling process more efficient.
Scheduling the test drive
When arranging for potential buyers to come and view or your vehicle, be sure to get their address, name, and telephone number. Genuine buyers will be willing to give these details – and they will accept when you call to confirm the arrangements and verify the phone number they provide.
Visit this website when looking to value my car.
If the buyer wants to test drive the car make sure they bring their driving licence. And if your own insurance does not cover it, make sure they’re insured.
Always take part in any test drives. If you switch seats midway through your journey you should take your keys with you and hand them to you when you’re back in the car.
If you’re worried about being in a room with a stranger, request someone you know to come along for the screening or for a test drive If you’re able.
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Don’t fall for fraud
Beware of would-be buyers contacting you online or over the phone , asking for information like the VIN number for the car. They may employ this information to make an untrue advertisement. Genuine buyers should be happy to come and view the vehicle and verify those details for themselves.
Make sure you have your documents prepared
If you are able, keep all documents required on keep on hand, such as your vehicle’s MOT certificate and service records. A properly stamped service history will make your car appealing to potential buyers.
Never permit potential buyers to print copies or take pictures of the documents in your vehicle before you’ve sold the car. You should only hand over the paperwork when you’ve made an agreement to sell and had an agreed upon payment.
Make sure you’re paid
The majority of banks consider bank transfers as the most secure and speediest option for payment. Customers can pay over the phone or through online banking throughout the day all day, every day.
You can also make an immediate bank transfer using the CHAPS system, but it’s usually required to pay the fee.
ESCROW, where an uninvolved third party holds money on behalf of you as well as the buyer, could also be a safe way of getting paid. However, you need to look out for counterfeit ESCROW or shipping firms recommended by buyers. To check if a company is authentic, make use of the Financial Conduct Authority’s (FCA) Register of Financial Services.
If the buyer wishes to pay by personal or cheque from a building society, explain the buyer that you’ll need to wait until the cheque is get cleared. Keep in mind that bankers’ cheques can be forged.
It’s vital that you don’t release the keys until you’re completely satisfied that you’ve been paid in full.
The receipt must be presented for payment.
When the buyer leaves, it’s a good idea to draw up a receipt and sellers’ agreement to ensure that you are protected.
Be sure to:
This receipt has the words “sold in the manner that was seen, tested and approved with no guarantee”
Print two copies of the contract, one for yourself and one for your purchaser
Both you and your buyer must confirm and date both copies of the contract.
You will each keep a signed copy as proof of the purchase
Remember, while the buyer agrees that the car was described as it is at the time of sale it doesn’t affect their legal right to deny an automobile that they later find isn’t roadworthy.
Inform the DVLA
Inform the DVLA inform the DVLA when you can you’ve sold the vehicle and that you’re no longer accountable for it. Don’t want to end up with any fines or parking tickets that the new owner might be accountable for.
Contact the DVLA and inform them you’re no longer the owner The quickest and most efficient method is to go online. The vehicle’s records will officially be updated and you’ll receive a reimbursement on any tax that you haven’t used.
You can also tell the DVLA via mail, but it may take longer for the record to update as well as to claim any vehicle tax refund. Complete the ‘New Keeper Details’ on your V5C logbook. Both buyers and you have to confirm the declaration. Then, you can send it to the DVLA.
If you decide to contact the DVLA via the internet or mail, make sure you give the purchaser the V5C/2 section in the V5C logbook. It’s their proof of ownership until they get a new V5C certificate from DVLA.