There are a lot of things to consider when selling your vehicle. Do you want to sell it quickly? Earn as much cash possible? Or would you prefer selling to be as simple and pain-free as you can?
Selling quickly using the traditional method
If you’re considering trading in your car to one that’s newer, normally you’d trade in your vehicle part-exchange through a dealer.
You can’t ensure that you’re getting the most affordable price. The dealer may have to take your vehicle to auction. Naturally they’ll want to turn a an income. They may not be able to offer something that is comparable to your car’s worth.
Selling your vehicle privately
Selling your business privately can earn you more money, provided you are able to find a buyer. However, it’s usually more effort. You’ll need to:
Make arrangements and pay for advertisements
Get your documents ready
Engage with prospective buyers – such as inquiries, viewings and test drives
Negotiate a fair price
Be sure that payment is made in a legal and secure method
The price of your car should be realistically priced.
If you’re looking for a speedy sale, it is important to set a realistic price for your car.
Check out online websites such as eBay, AutoTrader and AA Cars to find out what similar automobiles are selling for. You can also look up the dealerships in your region.
Preparing your car for sale
Whatever way you decide to sell your car getting it ready for sale is vital if you want to sell it quickly and get the highest price. Condition, appearance and service history could be the difference. It is important to:
Clean your car from inside to out and ensure that you keep it clean
Repair minor paintwork damages or mechanical issues
Take a fresh MOT, particularly if you have less than three years on the old one.
Take a look at a professional and full valet service. It will make your life easier and truly make a the difference.
Finance a car purchase
If you’re planning to sell a vehicle that you’re financing, your initial step would be to call the finance company you’re with to talk about your options, or ask their approval.
If you are selling your vehicle privately, you’ll have to pay off any outstanding loans first – because it’s illegal for you to sell a vehicle you don’t own fully. Don’t forget to pay off any outstanding hire purchase or agreement to sell with conditions.
If you’re selling through an agent, they might be able assist you in making the selling process simpler.
Organising an opportunity to test drive
If you are arranging for prospective buyers to visit or test your car, make sure to ask for their address, name, and contact number. A genuine buyer will be willing to give these details and will be understanding that you need to call them back to confirm the arrangements and verify the number provided.
If the buyer would like to drive the vehicle request a copy of their driving license. If your insurance does not cover it, make sure whether they’re insured.
Always take part in any test drive. If you change seats midway through the trip Take the keys with you and give them to the driver when you’re back in the vehicle.
If you’re concerned about being in a room with someone you don’t know, ask someone you know to join you during the show or to test drive when you can.
Learn more about
Beware of fraud
Beware of potential buyers calling you on the internet or via phone asking for specifics like the car’s VIN. They might make use of this information to create duplicate advertisement. Genuine buyers ought to be able to go and see the vehicle and verify the information for themselves.
Make sure you have your documents prepared
If you can If you can, keep all important documents in your possession including your car’s MOT and service certificates. A properly stamped service history can make your car more appealing to buyers.
Don’t let potential buyers make copies or photographs of the documents in your vehicle prior to the time you’ve sold it. You should only hand over the paperwork after you’ve negotiated the sale and received the money.
You must be sure that you are paid.
Transfers to banks are generally seen as the most secure and fast type of payment. Customers can pay over by phone or via online banking throughout the day and all day.
It is also possible to send a transfer to your bank immediately via the CHAPS system, but you’ll typically have to pay fees.
ESCROW which is where an uninvolved third party holds funds for both the buyer and you is an effective method of getting paid. But you must be wary of fraud ESCROW and shipping firms suggested to you by your buyer. To determine if a business is genuine, check the Financial Conduct Authority’s (FCA) financial services register.
If the buyer wishes to pay with a private or building societies cheque, inform them that the buyer that you’ll need be patient for funds to be cleared. Keep in mind to note that banks’ drafts may be forgeries.
It’s vital to never give the keys away until you’re 100% satisfied you’ve received your money in full.
A receipt of payment is required.
When looking for services such as we buy any car UK make sure you contact sellmycaressex.co.uk
Before the buyer departs before leaving, it’s best to create an invoice and a sellers’ agreement to ensure your security.
Check:
The receipt contains the words “sold in the manner that was seen, tried and approuvé without warranty”
Print two versions of this contract, one to yourself and one for your purchaser
Both you and your buyer must confirm and date both copies of the contract.
Each of you keeps an original copy of your signature as proof of purchase
Be aware that while the buyer agrees that the car is exactly as you’ve described at the time of sale, it doesn’t limit their legal right to decline a car that they find out isn’t roadworthy.
Inform the DVLA
Inform the DVLA be aware whenever you can that you’ve sold the car and that you’re no longer accountable for it. You don’t want to wind in a situation where you have to pay penalties or parking tickets the new owner could be accountable for.
Get in touch with the DVLA and inform them you no longer own the vehicle the vehicle. The fastest and easiest method is to do it online. The record of your vehicle will officialy updated, and you’ll be able to claim the refund of any unpaid tax on your vehicle.
You may also notify the DVLA via post, however it may take longer to be updated and also to receive any tax refund for your vehicle. Complete the ‘New Keeper’s Details on your V5C logbook. Both you and the buyer have to acknowledge the declaration. You then need to send it information to DVLA.
If you decide to notify the DVLA via email or post ensure that you send the purchaser the V5C/2 section in the V5C logbook. It’s evidence of keepership until they receive a new V5C form the DVLA.
