There may be many reasons to sell your car. Perhaps you want to sell before the value bottoms out, have your eye on a striking new model, or are considering switching to electric vehicles.
Whatever the reason, you want to get the best price possible when selling your car.
That involves selling your car to the right person at the right time and place.
If you’re considering selling your old car, you have a few different options. Which approach you take and the timing of your decision can significantly affect the amount you recuperate.
Let’s explore the different ways you can sell your car.
How to Sell Your Car
If you want to sell your vehicle for as much money as possible, there are a few things to consider that will affect your method.
You’ll need to take into account the specifics of your car - its make, model, year, mileage, condition, etc. You’ll also need to consider your location, the urgency with which you want (or need) to sell it, and if you wish to buy another car simultaneously.
#1 A Private Sale
You'll typically get more money for your car when you sell it privately. However, this approach requires a little more effort and time on your part.
Typically, you'll have to do all of the advertising yourself, and then you'll have to wait for the perfect buyer to show up and negotiate a price before you can sell.
Private sales can be publicised through various channels, including your local newspaper, online classified sites like Facebook Marketplace, or specialised websites like Autotrader.
Alternatively, you could opt for the old-fashioned method of simply sticking a for-sale sign in your car's window as you drive about town.
Selling a car privately can work for somebody for whom the sale is not necessarily urgent.
Drivers who want to sell their present car but who can afford to hold out for a while, for whatever reason, may benefit from a private sale. This approach can let them save up money for their next car while also holding out for the desired sale price.
#2 Sell to a Dealership
You can often sell your car to a dealership. Depending on the circumstances and reasons for the sale, you can choose to trade in as part of a newer car purchase. Alternatively, you can just sell your old car to the dealership without anything in exchange.
Most dealerships will make you an offer for your old car as long as it is running relatively smoothly and in decent condition.
The model, make, and age will significantly affect the price they offer. The price can even be affected by other factors like how many vehicles they currently have on the forecourt.
That being said, you can usually offload your car to the dealership quickly if you need a speedy sale.
This option might not be the most profitable choice, though, as dealerships are in the business of making money and will also need to sell your car to someone else for a profit.
However, to offset this and ensure the best deal, you can reach out to multiple dealerships for quotes.
#3 Trade-in
If you're looking to acquire a new car at the same time as making a sale, trading in your current vehicle at a nearby dealer can be the most practical choice.
This approach enables you to sell your car to a dealership and use the proceeds as credit toward purchasing a new car from the same dealer.
There is often room to manoeuvre with the dealer in negotiations for a trade-in. Use this to your advantage as the dealer may offer you a better valuation on your old car to sweeten a deal.
Once again, as with selling your car outright, it’s worth contacting various dealerships before committing to a trade-in. This effort can help ensure you get the right price for your old car and a suitable deal for the newer one simultaneously.
A trade-in is often the most convenient choice as you experience the pleasant ease of driving in with your old car and leaving the forecourt with a newer car in one visit.
Take note of the various trade-in promotions that dealerships run regularly for the best deal possible with various financing options.
#4 Sell Your Car Online
Online selling could include private selling through various online classified sites. You could also look to sell your car on an online auction site like eBay. These online methods often involve a buyer visiting the car before committing to a purchase.
However, nowadays, people are becoming increasingly confident in buying cars through an online car-buying service.
You can sell your car to an online car-buying service like AutoFlip.
AutoFlip essentially acts as the go-between for buyers and sellers of used cars. In only a few simple steps, you’ll receive the best used car price, hassle-free.
Simply load photos and info of your vehicle onto the AutoFlip site and within hours you’ll receive the highest offer from AutoFlip’s network of dealers as they competitively bid for your car.
If you choose to accept a bid, you’ll receive payment and once the funds are cleared in your account, the dealer will arrange to pick up your car.
Selling your car via this process:
- Helps you avoid the hassle of selling privately, no time wasters!
- You remain anonymous throughout, no dealer has access to you or your contact details·
- Saves you the time of shopping for quotes from dealers·
- Quickly gets you the best deal possible, AutoFlip negotiates with the dealers on your behalf·
- Lets you sit back while the AutoFlip specialist team deals with the details·
- Lets you sell a car in quick and easy steps from the comfort of your own home
Tips For Selling Your Car
Whichever method you choose to sell your car, there are other things you can do to give yourself the best chance of getting a reasonable price.
1. Know your stuff
There are plenty of websites to visit that can give you a good understanding of what your car should be worth. Head to a value estimation website for your car and fill out your car details. This will give you an approximation of the market value for your car based on make, model, mileage, and general condition.
Armed with this estimation, you can approach any negotiations and decisions with more confidence about the ballpark figure you should be accepting.
2. Know when to sell
The car market is susceptible to change depending on several external factors. The timing of your sale may be integral to getting a reasonable price.
Firstly, concerning dealerships, dealers often give out the best prices during the first two quarters of the year. That’s due to various factors related to dealership targets, precisely because targets often coincide with the end of the financial year in July.
The critical point for you is that you are more likely to get a good deal on a trade-in as the dealer looks to fulfill targets in the first two quarters of the year.
The second point is the relationship between your car’s age and its value. A car depreciates considerably during its first two years. After the five-year mark, this depreciation levels off. This depreciation is something to bear in mind since there isn't much of a rush to sell when your car is more than five years old.
3. Maintenance records are important
Having up-to-date maintenance records for your car proves you have taken care of it and ensures the car is in good condition.
As a consequence, this helps your car retain its value. A car with no maintenance records is something of an unknown to a buyer, whereas the buyer can purchase with more confidence if your car has records of oil checks, tire changes, and successful inspections.
Having these maintenance records can mean a significant difference when negotiating prices.
4. Put effort into appearance
If you are selling your car privately or through an online classified site, make sure to present the best version possible of your car.
Clean it, take nice pictures, and write a comprehensive listing informing potential buyers of the ins and outs of the vehicle, being open and transparent about any issues it has.
Cleaning your car, both inside and out, reflects positively because it implies that you take care of the vehicle. This may be enough to convince a hesitant buyer that the car is likely to run well without any issues.
Take pictures from every angle and ensure they are not too blurry when posting online. This helps build a genuine picture of every aspect of the car for the buyer. Whether they are buying from the listing itself or arranging for a time to come and test the car, high-quality images can entice a potential customer.
Buying Your New Car
If you are selling your car and looking to buy a new one it pays to organise your car finance first. That way you know exactly how much you have to spend and exactly what you can afford. At Ausloans we find you the best rate of finance from our massive pool of lenders and to sweeten the deal we are giving everyone who settles their fiance through us anyone who settles their finance through us a free holiday. So what are you waiting for click the button below and get financed today!
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