The used car market in the UK is a busy one at the moment, and this has caused the price of vehicles to soar. With increased pressures on household budgets, car buyers are now becoming more discerning, as they want to get the best value for money that they can. This means that there is a lot of competition out there at the moment, and if you are looking to sell your car, then it might seem like a daunting task.
Much of the surge in the second-hand car market came as a result of COVID-19. With factories shutting down and a worldwide microchip shortage, there was a lack of new cars coming onto the market, and it has taken a long time for car manufacturers to catch up.
That has meant that the used car market has been booming, and it can take a lot for your car to stand out in a very crowded marketplace. That does not mean that it is impossible though, and we have put together our top tips on how to get your car noticed and sold.
Valuing Your Car
In a market where prices are fluctuating, it is important that you understand the value of the car that you are trying to sell. It is no good plucking a number out of thin air or working out how much money you need, as you might find yourself left with a car you cannot sell, or one that has been vastly undersold.
The value of your car is affected by its age, mileage, condition, and service history, so use some online retailers to find other cars that compare to yours and see what they are being sold for at the moment. This can give you a good ballpark figure to work around and make sure that you are not pricing yourself out of the market.
How Do You Want To Sell Your Car?
The way in which you sell your car depends largely on what is important to you. If the most important factor is achieving the highest price, then selling it privately might be your better option. This will mean paying to advertise it and taking various potential buyers on test drives until you find the one who decides that this is the car for them.
If you are looking for speed or convenience, then you might want to consider selling it to a big retailer. You can approach local garages to see if it is something that they want or look at the big car sites who will offer you an instant value in order to take it off your hands. It is important to remember that whilst this makes the whole process a lot quicker, it does mean that you will not achieve the full value of the car.
Advertising Your Car
Make sure you take any photos in daylight from all angles and beneath the bonnet, as well as photos of the dashboard can also help. Keep your advert honest to avoid wasting anyone’s time and try not to use more than 100 words, but don’t undersell it either.
Make Sure Your Car Is In The Best Condition
No matter where or how you choose to sell your car, you need to make sure that it is looking its best. Get it cleaned, or do it yourself, and make sure that both the inside and outside are gleaming. You may even want to consider investing in some quality car floor mats, to ensure the interior of your car – especially the places where the most wear and tear happens, is as protected a it can be!
If there is any damage to the car that can be easily repaired, then you might want to consider doing this. Not only will it prevent you from being knocked down on price, it can also make it a more appealing option.
If the car is due a service or MOT, then get it done before you put it on the market. This will make sure it is running beautifully and will attract the greatest amount of interest from potential buyers.
Lose The Personalisation
If you have done anything to modify the car during the time that you have owned it, then now might be the time to remove it. Stickers, vinyl and huge spoilers might appeal to some people, but not to everyone, and you want to make sure that your car has the widest possible reach. Just because you see it as a selling point, doesn’t mean that everyone will, so remove it where you can and save it for your next car.
Be Prepared To Haggle
When someone comes to look at your car, you need to be fully prepared. Understand the value of your car and why it is pitched at this amount to help you in any negotiations. Make sure that you know as many facts and figures as possible about the car so that you are able to answer any questions and dispel an doubts.
You should always be prepared for a negotiation when it comes to price, so have a figure in your head that you are not prepared to go below, as this will make it much easier when you are in the heat of the moment. Remember, there are only certain types of payment that you should accept – things such as cheques, bankers’ drafts and IOUs leave you open to being scammed and leave you with no car and no money.
Potential buyers will want to go on test drives, but it is important that you organise this safely. Never let someone take your car without you, and always make sure that someone knows where you are. If you are letting people take your car out on the road, then you need to make sure that it is roadworthy and taxed, or you could be liable for a fine. You also need to check that the driver has at least third-party insurance – ask to see a certificate, do not just take their word for it.
Selling your car doesn’t need to be hard work if you are prepared and honest, so do your homework and it will soon be with somebody new.