29 October 2014
9 Mins read

Selling your car: A guide

If you’re selling your car, you’ll no doubt be looking to get the best possible price from prospective buyers, which means you need to know what needs to be done in order to achieve this goal, as even small mistakes can knock hundreds of pounds off the vehicle's value.

Unless you’re selling something unusual, such as a classic or kit car, you’ll be competing with thousands of other people who are also trying to off-load their vehicles – cars that could be almost identical to yours.

Combined, the presentation, mechanical condition and service history of your car can set it apart from anything else on the market and could be the difference between a quick sale and a drawn-out saga that sees the asking price drop.

Here are some tips to make the process as painless as possible, ensuring someone snaps up your motor.

Before advertising the car

A bad photo can diminish your chances of someone coming to look at your car dramatically, which means showing it a little TLC before taking the picture is vital.

Furthermore, if there’s less than three months left on your current MOT, get a new one. This way, any minor cosmetic or mechanical issues can be identified and repaired, either by yourself or a mechanic, before it goes on sale, which will help you get the top price for your motor. In addition, prospective buyers may question the condition of the car if there are only a few months left on the MOT.

Once any repairs needed have been completed give your car the best clean of its life, both inside and out. You can do this yourself to save some money or take it to be valeted. A sparkly clean car will immediately attract the attention of potential buyers, who may have been scrolling through pages and pages of used cars before they happen upon your advert.

Take several photos of the car, including interior and exterior shots, as this allows a person to inspect the car fully before coming to see it. Think about it – if you were looking for a new house you’d be a bit suspicious of any listings that just showed the front of the building.

Price

Price will be an important factor for anyone looking to sell their car, but you must be realistic about your expectations as going too high will deter prospective buyers, whereas going too low will mean you lose out.

There are several ways you can ensure you settle upon an accurate value for your motor, such as looking at car-selling websites to see what other people are asking for or using the pricing tools some of these sites offer. You could even enlist the help of an expert and get your car privately valued.

When trying to determine what to ask buyers for, you must consider the car’s mileage, age, condition and any extra features, such as alloy wheels, tinted windows and digital radios, to come to an accurate figure.

Creating your advert

Writing the advert will allow you to highlight all the reasons why your car is better than its competitors, but you must avoid exaggeration as this can lead to a slew of unhappy prospective buyers leaving without sealing the deal.

Make sure your advert reads well, is concise, uses plain english rather than technical jargon and has been proofread, as something that is laden with errors can be off-putting for anyone reading it. Briefly describe the car’s strong points and key features, such as leather interior and air conditioning.

You should also include how long the tax and MOT has to run and any recorded service history.

Dealing with buyers

In most cases, a buyer will want to test-drive your car and inspect it thoroughly before they part with any hard-earned cash, so you must be prepared for this and take the necessary precautions before allowing them to step a foot in the vehicle.

Make sure that the person wishing to take a spin in the motor has the correct insurance and ask to see proof of this before they get in. They could be covered under a normal comprehensive car insurance, but this will usually be third-party only, meaning any damage done to your car will not be covered.

Give them plenty of time to view the car and let them arrange further inspections if they ask for them, but never leave the buyer alone with the car keys.

Closing the deal

Always expect the buyer to haggle, as they are looking for the best price, just like you’re looking for the most money. Decide what the lowest you’re prepared to go is and stick to it –
don’t be bullied or manipulated into dropping below this.

Once you’ve agreed the price, discuss payment options. Bank transfers, cash and cheques are all suitable, but make sure the funds are in your account before you let the buyer take the car.

Posted by George Davis