If you’re buying a new car, the easiest way to shift your old one is to part exchange it. The dealer will give it a good look over and offer a fair price based on its condition. All you have to do is hand it over on the day you collect your new car, do some paperwork and pay the difference, and then you can drive away in your new car, content at a job well done.
If the seller of your new car isn’t interested in your vehicle in part exchange, or you think it’s worth more money, try shopping around. There are numerous car buying websites that will offer a no-hassle sale.
Webuyanycar.com is one of the most popular, but there are some great alternatives like Motorway.co.uk. Rather than having to drive to a branch to drop your car off (and possibly pay a transaction fee as well), Motorway will collect your car for free and there are no fees to pay. Motorway will offer your car to an exclusive network of 3000+ verified dealers who can all make offers on your car, usually beating the part-exchange price. You can agree a deal in as little as 24 hours.
Of course, if you’re selling to a trader (via part exchange or any other means), they’ll be expecting to pay what’s known as the ‘trade price’. This’ll be a figure low enough for the dealer to make a profit once they’ve tidied the car up, fixed any issues, paid the rent on their premises and covered the cost of staff… not to mention supplied a warranty, paid VAT etc etc.
While it’s not without its pitfalls, selling your car privately can make you more money if you’re willing to put in a bit of effort. Here are the essential dos and don’ts if you’re going to sell your car privately.
How can I sell my car privately?
If you’re going to sell your car online privately, then the first challenge is making it stand out from all the thousands of other used cars on the market. Fortunately, you don’t need a degree in marketing to do this.
The advert should be clear and concise. Include the important details – things like the make and model of the car, how many miles it’s covered and any desirable features it has (things like air conditioning or sat nav). Include details about when the car was last MoT tested, and information on how regularly it’s been serviced. Don’t waffle, though. The buyer doesn’t care that your kids call the car Percy or that you’re selling it to fund a week in Orlando.
If there are any major negative points, it’s worth mentioning these too. Don’t dwell on them, but if the engine management light is showing or there’s a dent on the passenger door, highlighting them will avoid wasting time for you and potential buyers.
Photos are perhaps even more important than the actual text of an advert. Take pictures when the car’s clean, using a good quality camera (most modern smartphones are more than capable). A bright, overcast day is ideal as it will deliver a nice soft light without any harsh shadows. Also think about your background - a quiet car park, perhaps, or a country lane. Try to get the entire car in the photos and show it from all possible angles, inside and out. Buyers will want to see everything, that means the wheels, the boot and the interior as well as the standard front-on shot. Give detailed images of issue areas like scratches and dents so nothing can come as a surprise on collection day.
How to get the most money for your car
Of course, if you’re going to stand any chance of selling your car, you’re going to have to advertise it at the right price. Too high and no one will even look at it; too low and you could lose hundreds or thousands of pounds. The best way of gauging what your car is worth is by looking at car sales websites and seeing what similar models are up for. Your car will need to be cheaper than similar models being sold by dealers, but you should be able to get more than you’d get in part exchange.
Attention to detail is important. At the very minimum, you need to give it a good clean (or pay someone to do it for you) so that the car creates a good impression – both in photos and when a potential buyer comes to view it.
It’s worth going a step further than a quick wash with a bucket of car shampoo. Do the tyres look clean? How dusty is the dashboard? Are there fingerprints on the windows? If you’re not happy tackling these issues, it could be well worth the investment in a professional valet.
Cleaning aside, there are other things you can do to maximise the sale price of your car. Buyers prefer standard cars – if your car has aftermarket alloys, for example, consider swapping them for standard wheels. You might think a fancy sound system adds to the car’s appeal, but we’d recommend selling that separately and refitting the car’s standard radio.
Consider getting the bodywork looking tip-top. Obviously, this isn’t as much of an issue on an affordable used Ford Fiesta as it is a nearly-new Porsche 911, but dents and scratches will set a poor impression no matter what the car’s age and value. There are mobile specialists that can perform ‘smart repairs’ on scratches or stone chips for not a lot of money. Kerbed wheels can make a car look neglected – think about getting these seen to, too.
What documents do I need to sell my car?
Paperwork is very important when selling your car. Gather together as many receipts as you can for work you’ve had done on the car and file them in chronological order. A fully-stamped service book is desirable, but nothing says “this car’s been looked after” more than a wad of receipts.
You’ll need an MoT certificate to sell your car (if it's over three years old) and a lengthy MoT test should put any nervous buyer’s mind at rest. If there’s anything less than six months remaining, a buyer might think that there’s a problem with the car and you’re trying to shift it before MoT time. Consider putting a fresh MoT on it – and give it a good check over first to prevent any niggly advisory notices. These are often used as negotiation points.
Finally, you’ll need the car’s V5C registration document to prove you’re the registered owner of the vehicle and so you can transfer ownership and notify the DVLA — if you’ve lost this, apply for a new one as soon as possible so your sale doesn’t hit a roadblock.
Can I sell my car with outstanding finance?
It’s worth mentioning that if you are trying to sell a car that you purchased on finance, you cannot sell it on without letting the buyer know. In fact, trying to make a sale on a car without disclosing its outstanding finance is illegal. This is where finding a professional dealer like those in Motorway’s nationwide network can make the process much smoother. Dealers are experienced at selling cars on finance and they can agree a sale, settle the difference with your finance company and pay you any leftover funds. With a private dealer, you will need to pay off your outstanding finance from your own pocket before you can sell your vehicle.
Dealing with a potential buyer
You’ve done a good job of advertising your car and a potential buyer is standing on your driveway inspecting it. This is not your opportunity to practise your best Mike Brewer impression. Let the car speak for itself – the buyer will want time to inspect its bodywork, make sure everything works and check it’s comfortable. If you attempt the hard sell, you’re more likely to talk your way out of a sale.
One tricky issue is the test drive. Most buyers will want one and that’s fair enough – provided they’re insured. It might be that their insurance offers third-party cover for other vehicles, but that’ll leave you out of pocket if they write your car off on the test drive. Ask them for evidence of adequate cover – temporary insurance can be bought online cheaply enough, or they might be able to add it onto their existing policy. The car will need to be taxed, too – consider this before SORNing your car (declaring it off road) in a bid to save money.
Only allow a test drive if you’re confident that it’s safe to do so. Don’t provide a test drive late at night and make sure it’s on your terms – with you in the passenger seat providing directions. It’s best to make sure that someone else knows where you’re going and when you’re going to be back.
Once the buyer’s happy with the car, they’ll usually make an offer or ask for your best price. Don’t feel obliged to move from your advertised price – you’ve done your homework and know what it’s worth. A small discount might tempt the buyer into a sale, or offer to fill the tank with fuel.
Once the deal is done, ask for a deposit (around £100-200 is probably fair, depending on the value of the car) and arrange for the buyer to return at a later date to collect it. They might want to drive away straight away, which is fine as long as they can provide clear funds.
Bank transfers are a safe way to receive payment, but don’t hand over the keys until the money is definitely showing in your bank account. Some buyers might prefer to hand over cash, which is fine for cheap cars, but it is open to fraud using fake notes. If you’re concerned, ask them to visit the bank with you where it can be counted and checked that it’s genuine.
Once the payment’s been received, fill in the V5C registration document and notify the DVLA of the new owners’ details. Print two copies of a receipt (templates can be found online) and ask the buyer to sign them both. This should include a phrase like ‘sold as seen’ – if you’re a private seller, you’re not obliged to provide any warranty and the car will no longer be your concern once the buyer’s driven away.