If you’re looking to sell your vehicle, the easiest way to do so is to part-exchange when you buy a new one. But many motorists sell for reasons other than that they want an upgrade. Perhaps you no longer need a vehicle. Regardless of the motivation, if you’re hoping to sell, here are some key things you need to know before proceeding.
The first job is to gain a fair valuation for your vehicle. You can do this online by using a valuation tool such as the one on our website, or by taking your vehicle to a dealer to obtain a more accurate estimate.
In order to get the best possible value, it’s worth taking some time to clean the vehicle inside and out, have any minor scratches or paintwork damage repaired and ensure the MOT renewal date is not approaching. You may also want to review the latest MOT results to see if any new parts are needed, such as tyres or brake pads.
Before you advertise, you must be sure that you legally have the right to sell the vehicle and that it is roadworthy. On any advert you put out, you must ensure your description and imagery matches the car. State when the last service and MOT were completed, what the vehicle’s age and mileage are, and ask for a realistic price. Remember, you can’t sell your model if there is outstanding finance on it, so settle up with your provider beforehand.
Potential buyers are likely to want to check the car for themselves, see service history and V5C documentation and go for a test drive before committing. When arranging to meet buyers, take their contact details in case you need to reschedule. You’ll also want to see their driving licence and check they’re insured before letting them take a test drive – genuine buyers will be happy to co-operate.
To avoid becoming a victim of car theft, accompany every buyer on their test drive. You can also ask a friend or relative to come with you if it makes you feel safer.
When a sale price is agreed, print off a seller’s contract from a source such as the AA and provide a receipt that states the vehicle is sold as seen, tried and approved without guarantee.
Ensure that you’re paid in full before you hand over the keys – this can be done in cash or via a bank transfer. If the buyer prefers to pay by cheque or banker’s draft, ensure it clears before allowing them to drive away, as these methods of payment are easier to forge.
If you’d like more information and advice on selling your vehicle, contact us at Blackpole Trade n Save today. We’ll be happy to help.