Sell Your Car Quickly - The Know How
There are times in life when your existing car has to go quick, sometimes to finance a great deal on another car, or maybe other financial issues.
So lets be honest right form the start. Selling a vehicle in less time often means getting less money for it, but if this can be offset by a great deal in buying a new one, then it could be the right decision, we attempt to give you the right “know how”, to help you on your way..
We Buy Any Car Type Buyers
The “We Buy Any Car” type car buying services have risen in recent years taking advantage of those who need to sell quickly and prepared to get less for their vehicle. These cars are typically sent to auctions to dispose of and this is where they make a profit. It is more expensive for members of public to sell their car at auction, those in trade get preferential rates to so, as they provide lots of stock to auction.
So a starting point is “We Buy Any Car” and similar websites, they can give a price and effectively sell your car in a matter of hours, although it will take time for the transfer of money to hit your bank account. A car valuation will be given when you simply enter your reg number online, but beware to be accurate, as it is possible when it is physically inspected a lower offer may be made. Sometimes we can love our car that much that we inflate the actual real value that someone in the trade is likely to offer.
In order for “We Buy Any Car” type sites to make a profit they have to offer a price that is lower than auction and cost price, which in real terms means you are likely to be offered less than trade price, in return for a quick transaction. There is an admin cost to the transaction also which should be factored in. If the car your are buying is a good buy, even with these obstacles, it may be a good route to follow
If you want a quote form “We Buy Any Car”, try it here.
Selling To Trade
The garages in your area all need stock at the right price. So if you do some research and find out what garages sell your car, age and condition, you may find a buyer ready to offer more than “ We Buy Any Car “ websites. The downside is it may take a bit of time to find the right garage and take your car to be looked at.
It would be a waste of time to take a 5 year old vehicle to a garage who only specialises in 3 year old vehicles, even if yours has low mileage and excellent condition. Try to match the specs of your vehicle to what the garage will sell similar vehicles.
It may feel a bit daunting, but if your have the right vehicle at the right price, then a businessman will offer a fair deal.
Dealers who advertise that they will offer cash to buy cars are often middlemen, who hope to resell your car to the trade or auctions. You are likely to get a better a deal from a garage who is going to retail your car at full price not trade.
Factors That Will Help You (or maybe not)
All the above will be easier or harder based on the make and model of the car you are trying to sell. Quite frankly there are models that will sell all day long and dealers and trade want to buy and some, where the price has to be really low before they are prepared to consider.
Try to take any emotion away from that baby that has transported you around since you both met some time ago and look at this chunk of metal as an asset that has a monetary value, then use websites like autotrader and Ebay to try and establish a real value, you can also use publications like the Parkers guide. Remember that the price a vehicle is advertised at is the maximum value that will be raised, but in many cases a lower will be made and accepted, so sometimes it is worth lowering the asking value a little of the cars for sale, to get a true understanding of your cars actual value.
Once you have established your vehicles value and the demand for it, you can get a real understanding what you are likely to be offered by trade garages and the likelihood they will be interested in the model you own.
Don’t be shy to pull up and ask if they are in the market for this make, model and year and will they look at it and make an offer. Of course it makes sense to ensure the car has been prepared to look good and you turn up with all relevant paperwork and a decent MOT. Do not expect any in the trade to buy a car without n MOT.
All retailers have to abide by strict rules in order to sell their stock, so anything that will cost money in in order to put on the forecourt is unlikely to get a premier positive viewing.
Selling To The Public
Buying any car privately is a risk, because once the money is handed over and paperwork signed, all the problems or unknown problems is transferred to the new owner without any comeback.
It is important to know this and see any private sale from a buyers point of view, so any expectation of a quick private sale, cash in hand should be reduced a bit. Private buyers, even if they instantly like what you are offering will instinctively play it safe and take their time in deciding and handing over the money.
Explaining within your advert why you need a quick sale and showing signals of trust can help speed things up a bit.
You get the idea, try to explain a believable reason to why you need the process to go quickly.
Stating things like
“Sold As Seen”
does not transmit trust. “Buy it quick, but when you do, it is now your problem”. The last statement is how it can be seen.
Another statement to avoid is
“First To See Will Buy”.
The principle of this statement is to give some confidence that the car is so good it will be impossible to turn down, The problem is, a lot of buyers want the option to walk away without looking stupid. And if a potential buyer is the second to view the vehicle, then why did the first viewer not buy? Are there issues that the first viewer saw that the second has missed.
There also can be a cost to selling privately, Autotrader and Ebay all have charges, although Gumtree and Facebook are free.
Avoid the Scams
Just as buyers may take their time in order not to be scammed by purchasing a below standard car, sellers can also be a victim to the professional scammer. A quick sale can also mean, taking risks with payment. That bank transfer, that looks like it has been done, but then funds are cancelled once the keys are handed over. Giving false reasons why the vehicle is worth less than advertised and how lucky you are that he turned up to take it off your hands.
Never meet someone halfway, at a car park or somewhere unknown. And never let someone test drive your car without you in it and of course it has to legal to drive on the road with the correct insurance, road tax and MOT.
As the seller, take enough time to ensure the transaction is done correctly for the price, you had agreed to yourself before the process began.
Never allow anyone to test drive your vehicle without you being present in the car and it being fully insured.
It is not easy selling privately and that is why many just choose to trade in their vehicle, rather than selling themselves. Far less hassle and risk.