The ultimate guide to selling your car. #carstorestyle

Transcription

1 The ultimate guide to selling your car #carstorestyle

2 Contents You re looking to sell... We have pulled together an all you need to know guide on the different ways you can sell your car, as well as tips on how to get the best price for your beloved motor. Where can I sell my car? What do I need to sell my car? How to maximise the value of my car What happens next? What is depreciation?

3 Where can I sell my car? There are two main routes you can take when selling your car. You can either sell it privately or via a third party. The below methods fall into one or the other. You can sell privately on an auction website You can advertise it privately on a used car website or selling app You can sell it directly to a car dealership You can sell privately by putting a note up in a local advertisement board, like you d find in a supermarket You can sell directly to an online car buyer

4 Where can I sell my car? Privately on an online auction site e.g. ebay, Shpock Pros You may be offered more than a dealership as you are selling directly to the next owner You can advertise to a large audience You can set the price and decide whether you negotiate You can manage everything from home Cons You ll have to take the time to advertise your car and arrange viewings or collection You could possibly pay listing fees or commission You must manage the financial transaction which could involve large sums of cash and could put you at risk of fraudulent activity You have to ensure the car is fully road legal which may incur a cost You can advertise it privately on a used car website or selling app e.g. Auto Trader, Gumtree You ll reach an audience specifically looking to buy a car You may be offered more than a dealership as you are selling directly to the next owner You can set the price and decide whether you negotiate You manage everything from home There are usually apps you can download to keep an eye on your sale and respond to any messages You ll have to take the time to advertise your car and arrange viewings or collection You may need to pay large listing fees to ensure you reach the optimum number of people You must manage the financial transaction which could involve large sums of cash and could put you at risk of fraudulent activity You have to ensure the car is fully road legal which may incur a cost You can sell it directly to a car dealership e.g Fords of Winsford Local advertisement board e.g. A supermarket notice board You can sell directly to an online car buyer e.g. Car Store You can save time with a quick sale You re likely to receive expert advice You could receive same-day payment You may have the option to part-ex your car You do not get harassed by calls and messages enquiring about your car which could be at any time of day You could possibly advertise your car for free You may be offered more than a dealership as you are selling directly to the next owner You can set the price and decide whether you negotiate You can get a valuation for your car quickly and easily from the comfort of your home You can sell any car to these online sites regardless of make/mode/age/condition Same day payment is often available from these buyers You may be paid a lower price for your car as the dealership will need to prep the car for the next owner You may have to wait around at a dealership while they value your car You ll have to get your car to the dealership and find a way home if you are not getting another car from them You ll have to make sure the dealership you sell to is reputable This is an outdated method of selling your car and your advert may not be seen by many people You may have to put up with haggling You must manage the financial transaction which could involve large sums of cash and could put you at risk of fraudulent activity You have to ensure the car is fully road legal which may incur a cost You may be offered less than if you sold the car privately as you are not selling directly to the next owner You will need to drop the car off and make sure you have a way to get home If you do not enter the correct information online the price may alter when your car is inspected in store

5 What do I need to sell my car? Our checklist (the more you have, the better). A car, for starters! Vehicle Log Book (V5C) Key(s) Service and MOT history Any relevant repair receipts Any warranty or service package details Vehicle Log Book (V5C) This document will have your name and address in it and show that you re the registered keeper of the car you want to sell. It shows you are, and have been, responsible for registering and taxing the vehicle. Keys It s quite obvious, but your buyer is going to want a key to their new car! If you have two keys, that ll make your car that little bit more valuable, so look after your spare. Service and MOT records A potential buyer will want to see a detailed service history to check for previous work done on the car and to make a judgement of whether they see it as a good purchase. They will also want to see when the MOT was last done, to work out if it will run for a while longer. Accurate description When it comes to selling your car privately, it s wise to make sure it s in the condition you advertised it as. If you don t describe the car accurately, then expect a lower price to be offered for your car.

6 How to maximise the value of my car You can do a few things to maximise the value of your car when it comes to selling Clean it It sounds simple but if your car doesn t look spick and span, inside and out, then it could put a potential buyer off paying the amount you want to get. 1 2 Check your tyres Pump them up! You don t want a bad first impression when a potential buyer looks around your pride and joy, so make sure you don t fall flat when selling. MOT or Service it If your MOT or service is due soon, be on top of it. This will hugely increase the value of your car as your buyer will have trust that it will run for the next year (at least) when they own it Top up your fluids If your potential buyer is going to take your car for a spin, they re going to want a smooth ride. Don t put them off by having no washer available or the oil light coming on. Show off the paperwork A savvy buyer may want to see all the records of servicing and MOTs so be prepared to have these to hand.

7 What happens next? Hurray, you ve sold your car! There s still a little bit of admin to do depending on the method you have chosen but it s nothing too strenuous. We have outlined the to-dos below: Private Sale Make sure you and the buyer both have a receipt for proof of purchase. You ll be wise to note down the date of the transaction and the price paid, as well as yours and your buyer s names and addresses. You will also want to note down the car s registration number and its make and model, for extra detail. Complete and send the V5C document to the DVLA. You ll need to fill in the new keeper details (Section 6) and sign Section 8 then hand this to the car s new registered keeper. Third Party Sale Complete and send the V5C document to the DVLA. You ll need to fill in the new keeper details (Section 6) and sign Section 8 then hand this to the car s new registered keeper. Hand over all sets of keys for the car, as well as the car s handbook. Hand over the service logbook and invoices or receipts from each appointment. You ll also want to include any relevant MOT certificates. Hand over all sets of keys for the car, as well as the car s handbook. Hand over the service logbook and invoices or receipts from each appointment. You ll also want to include any relevant MOT certificates.

8 What is depreciation? It is a common fact that cars lose some of their value over time and when it comes to selling your car it helps to know exactly what depreciation is and how you can minimise the effects. Put simply, depreciation is the difference between the amount you buy a car for and the amount you then sell it or part exchange it for. Most cars will see their largest fall in value during the first year they are owned which is good news if you are looking to buy a car which has a few miles on the clock already. Depreciation starts to slow down after a car becomes a year old and further when it reaches three years old. We have put together a few top tips to minimise depreciation: Try to avoid adding unnecessary mileage to your car. The lower the mileage, the more value your car is likely to retain Look after your car and ensure any repairs are undertaken as soon as possible and to a suitable standard Avoid modifying your car in a way that could make it less appealing to buyers in the future Keep up with manufacturer maintenance standards and retain all certificates and receipts A full-service history gives the new buyer confidence in the car s value

9 Follow us on Car Store UK carstoreuk Terms and conditions The information in this guide is advisory. Please visit for all terms and conditions.

10 #carstorestyle