If you have one or more used cars to sell you need to consider the best way to do so as there are numerous different options for putting vehicles up for sale nowadays. From selling privately to running a small car business, you need to consider what works best for you.

If you have outstanding finance on your cars, or no tax and MOT, there are issues you need to know about and understand before you can sell them on so read on to find out all the things which you need to take into consideration when planning to sell your used cars.

The first step when selling any used car is to find out what it’s worth. You can use online car valuation sites to get a really good idea of the value of your car before you start looking at ways to sell it.

Generally, the most lucrative option for selling a used car is to sell it privately as you are likely to gain at least 10 per cent more that way than if you had tried selling it directly to a car dealer as they will always negotiate the price down.

However, if you are selling privately you will need to pay for advertising the car and will have to arrange test drives, viewings and answer all of the questions and inquiries about the car yourself. You can avoid this hassle if you sell to a car dealer.

If you are looking to sell to a car dealer there a number of things to consider – you can either sell it outright or you can part exchange your used car for a new car from them if that’s what you are looking to do.

When selling your car part-exchange, the value is likely to be the same as the price you would be offered trade, when selling your car directly to the dealer but there is likely to be less room for negotiation. You might be able to negotiate a deal on the new car you are buying though.

If you sell your used car on to a garage or dealer, outright, it is probably the simplest way to sell your car. You will get a price based on the car’s condition, along with its predicted value so it is unlikely to  be as good a price as you’d maybe get selling privately.

Talk to respected car dealers about part exchange options. This can also be a good route to buying a used car. When looking to buy, the range from bigmotoringworld.co.uk is extensive.

The other way you can sell your used cars is by using the online car buying sites which have sprung up recently, where they guarantee to buy your car from you at a certain price. You just go to a site like webuyanycar.com, or something similar, and enter the details of your car into the site to get a quote.

The quote is generally going to be around the trade price but they will give you a final quote after inspecting the car physically so it might well be lower if your car has some wear and tear which is evident, and you are also likely to need to pay some kind of admin fee for using the service so there is a cost involved.

You could also look at selling your car at an auction, which can be a quick way to pass it on to a new owner, but there is no guarantee you will reach your ideal price for it and might not even sell at all so there is no guarantee. You are also likely to have to pay fees and commission on this type of sale.

If your car has outstanding finance on it, you cannot legally sell it without telling the new owner so if you have this situation, then you must tell your finance company. You need to request a settlement figure to end the finance deal.

Once you have the figure, you need to pay it off before you sell the car on to someone else. It is actually almost impossible to sell on a car which has outstanding finance as that will all be registered so when someone else tries to register the car as the new owner, the issue will be flagged up on the system.

Another thing to think about, when trying to sell on your used cars, is the season – which might sound a bit strange but certain types of vehicle sell better in different months. For example, a 4 x 4 type car will sell better during poor weather conditions, whereas a convertible will sell better in the summer when people want to put the top down.

If you are going for a part-exchange with a dealer, the best time is to pick a time when their trading will be lower, for example, December, January, March and August – these are the months people are least likely to buy cars so you will get a better deal.

This entry was posted on Tuesday, March 20th, 2018 at 5:58 pm and is filed under Car. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.