Buying a new vehicle is a great adventure, but first you’ll have to get rid of your old car. Saying goodbye to your trusty vehicle is a difficult process depending on which route you take – but you’ll usually have three options. Sell it privately, trade it in or sell to a company. However, knowing which road to go down can be a tricky choice, so here at Motorparks we’ve prepared a brief guide to each.
If you decide to sell your car privately, you’ll be able to set a price and allow yourself to be open to offers. You’ll often get slightly more than you would from a sale to a company – but you’ll also have to do all the work that comes with selling.
Clean your car inside and out to get it into the most presentable condition possible. You’ll need to repair any paintwork or mechanical problems before you sell and you should consider getting a new MOT if yours is drawing near.
Price your car competitively with other similar vehicles of the same age and mileage. Take as many photos as you can that clearly illustrate the good points of the car and show its condition.
Once you’ve generated interest on some car sales websites, you’ll have to show interested parties your car. If they want to test drive, you should accompany them but only after ensuring they have the correct insurance. You should provide some kind of receipt too, such as a buyers and sellers contract from the AA. More private sale advice from them is available here.
- Selling a car privately can often net a higher price than selling to a company, as the sale is in your hands.
- You can set your own price and your own haggle room.
- You’ll need to do all the advertising and selling yourself.
- Not many systems are in place to protect you in case of any issues.
- You will have to accept the possibility of multiple viewings without a sale.
Trading a car in
Many dealerships offer a trade-in agreement when you hand over your old used car in exchange for a newer one. This is often a fixed amount or given to you based on the perceived value of your car. A relatively hassle-free process, but only useful if you intend to buy a newer car from the same dealership.
- Quick and hassle free.
- Good way to net a cheaper price on a new or used car from a dealership.
- Price is generally non-negotiable.
- Only useful if you intend to purchase a vehicle from the same dealership.
Selling your car to a company
Whether it’s another car dealership or a car buying company, you can often sell your car quickly and hassle free by selling to one of these services. This is the fastest way to get cash in your hands, but you’ll end up receiving a lower fee, as the businesses involved will be looking to make a profit.
- Often the fastest way to sell a vehicle.
- You’ll usually get the lowest price and will have each fault in your vehicle rigorously inspected in order for those companies to offer a cheaper price.