Naturally when selling your used car it’s pivotal to obtain as much cash as possible. In theory the more money you raise, the more you have to put towards your next purchase.
We have put together the information below to help you get as much as possible for your used car.
Check the market value:
Due to all the online resources available, this is a relatively quick and simple task. Many national classified websites have free valuation tools which only require your vehicles registration number and mileage. Of course you can get a rough estimate on price from simply shopping round. A prime example, especially if your selling at the lower end of the spectrum, is to search our comprehensive list of Cheap Cars For Sale In Kent.
Some of the websites will even give you a comparison on what you’d expect to receive if you sold the car privately or via a dealer.
However although this is very helpful, this only gives you a rough estimate as every car is valued differently depending on various unique factors.
On average a car that is privately owned will cover approximately 10,000 miles each year. Unfortunately the more miles you have accumulated, the less the car is worth. If you have clocked up over 100,000 miles this will hit the re sale value of your car hard.
Don’t lose all hope however, as many makes and models will continue to run, fault free far past the 100,000 mile mark. Advancements in technology mean that some cars can even run for up to 200,000 miles without requiring major repairs.
This doesn’t mean you can command a high price, but if priced correctly (lower than other alternatives) you will still find a keen buyer who knows the car has lots of life left.
At the other end of the scale, if your car has low mileage, you can command a higher price. Be aware that this is only the case if you have a full service history and the log book is fully up to date. All receipts of any work ever carried out will also help any sale. It may not necessarily up the price, however it will put the buyers mind at ease.
Of course the car also needs to be in a condition that reflects the miles it has covered. For example the interior should be of a decent quality with little wear and tear, plus the exterior should be scratch, dent and scuff free.
Always remember that every used car has it’s price limit. A three year old immaculate car with low mileage, will never be worth more than one which is six months old. Be careful not to price yourself out of a sale, no matter how much you cherished the vehicle.
Unfortunately those additional ‘extras’ that cost you thousands of pounds, are now worth very little. The only consolation is that additions such as alloy wheels will help make the car more attractive, thus speeding up the sale.
Be careful however as extras such as body kits or larger exhausts will have a negative impact on the sale price. People will always assume a modified car in this manner has been driven ‘hard’ and fast.
The colour of your used car will also have an impact on how quickly it sells. Popular metallic colours such as silver, black or grey will always sell quicker. If you have a vehicle which is bright yellow, you’ll probably end up waiting longer for the right buyer to come along. However, there are things you can do to help speed up the sale of your car such as Effectively Cleaning Your Car, Preparing Your Car For Sale and ensuring you have always practiced great Car Care.
If you’re after a quick sale then lowering the price is your best option. Be careful not to go too low, as almost all buyers will expect to haggle the price down, even if only by a little.
If you have more time then you can advertise at a higher price and wait for the right buyer to come along. If this is the case choose online websites that let you advertise for an unlimited time frame but at one set price. For example on CarsFromKent.com you can list your vehicle for £9.99 until it sells.
Don’t advertise at the same price as local dealers, always go in cheaper. You won’t be able to offer the same deals in terms of warranty and finance so people will opt to buy from them rather than you.