6 Tips For Selling Your Car< Back to blog
Selling your car can seem like a nerve-wracking experience, especially if you’ve never done it before. However you go about it, here at Moneyshake we want to show you that you can get your car’s market value without having to jump through hoops.
Are you thinking about selling your car, but don’t know where to start? Read on to discover 9 of our top tips to easily sell your old car and not be left out of pocket.
Ready to get started with selling your car? Moneyshake has partnered with Motorway to get you the best price to sell your car within 24 hours. Motorway will find the dealer who’ll pay the most for your car from over 3,000 verified dealers.
1. Get a valuation for your car
The first thing you need to do when you decide to sell your car is get an honest valuation for your vehicle. So many factors affect what your car will be worth, including:
- Make and model
- Existing market prices
That last one is the biggest factor affecting the value of your car. Without insight from industry professionals, there’s no way of accurately pricing up your used motor.
There are now online services that let you quickly get a free value for your vehicle using just the registration and mileage.
2. Identify what you value most when selling your car
Do you need to sell your car quickly and need convenience? Or have you got time on your hands and want the best price possible? Whatever you value most when selling your car will help you decide how to go about it.
Privately selling your car is the best option if you’re not in a rush. Websites such as AutoTrader and Ebay give you access to millions of private car buyers. You’re likely to get a better price for your vehicle on these platforms too because you won’t be charged for the convenience of a quick sale.
One thing to remember if you plan to privately sell your car is that it can be a slow burner. If the demand for the car isn’t there, or you can’t find the right seller, you may struggle to sell it all together.
On the other hand, if you need to sell your car as soon as possible and without the hassle then your options are vast. You may sacrifice a little bit off the end price than if you were to sell privately, but sometimes it’s worth the headache.
For a quick sale, our car selling partner Motorway can provide a free valuation and sell your car within 24 hours. Motorway will find your best offer from over 3,000 verified dealers, so you can get the best price for your car.
3. If you have a new car in mind, consider part-exchanging
One of the best ways to get rid of your old car if you’ve got a new model in mind is part-exchanging it with a dealership.
The beauty of part-exchanging is that it’s killing two birds with one stone. You get to part ways with your old car, and at the same time you can complete the deal for your new model. Most of the time this involves you using your old car to offset some of the cost of your new car.
Usually this form of ‘selling’ your old car works well with car finance deals such as PCP (Personal Contract Purchase). That’s because the vehicle you’re trading in can be used to cover some or all of the deposit for your new model.
While part-exchanging might seem like the answer to all your headaches, there are certain things to be aware of. For example, a dealership will often give you less for your car than a private buyer would. This is because they sell part-exchanged models to used car garages for a reduced price.
4. Make sure your car is in good condition
In order to guarantee you get good value when you sell your car it’s important that you keep it in good condition. Of course, a used car isn’t going to look like it came out of the showroom. However, there shouldn’t be any obvious damage to your car when you come to sell it – otherwise you’re likely going to get less than the car is worth.
As long as the vehicle’s condition reflects its age and mileage on the clock, you shouldn’t be stung for price when it comes to selling it.
To prepare your car for a sale, make sure you check the following:
- It’s nice and clean inside-out. You can find out more on how to do this with our guide to cleaning your car. Alternatively you can have it professionally valeted at your nearest reputable car wash (be sure to check online reviews beforehand).
Make sure everything is working properly. From the engine and brakes to the electrics in your car, it’s important that your car is running smoothly before you sell it. Before selling your old car, make sure its service history is up to date. You can read all about getting your car serviced in our maintenance guide.
5. Have all the required documents/items to hand
If you’re selling your car privately then you’ll need to ensure you’ve got some essential documents to hand. These include
- V5C logbook
- Service history – this will be a book that came with the car which you get stamped every time you have it serviced to ensure you have a full history
- MOT certificates – it’s not the end of the world if you don’t have every MOT certificate to hand for your car; however, every MOT your car has had since 2006 is available online
- Although it’s not essential, it’s good practice to have paper copies of your MOTs too when selling your car as it shows you’ve looked after it
- Insurance repairs – if your car has been knocked, hit or damaged it’s good to have a paper copy of any work carried out before you put it up for sale. This honesty can go a long way in ensuring you get the value of your vehicle
6. Cancel your insurance and reclaim any road tax
You may not have known, but when you sell your car you can get a refund for any full months of remaining tax. In order to cancel your road tax and get the refund you need to tell the DVLA (Driver and Vehicle Licensing Agency) when you’ve sold the car to someone else.
After you’ve done this, the DVLA will cancel your vehicle tax. If you pay your tax monthly by direct debit, it will be cancelled automatically.
You can find out everything you need to know about cancelling your vehicle tax by visiting GOV.UK.
Need a new car after selling your old one? At Moneyshake we compare lease deals on every manufacturer and model and show you the best price at that time from our BVRLA-regulated providers. So you can get your new car without having to search endless websites or phoning around.
The monthly payments for your new car are fixed and each deal includes free delivery of the vehicle, the full manufacturer’s warranty and road tax.
Compare new car lease deals and get your perfect vehicle in three easy steps.
1. Choose your car type
2. Choose your model to compare deals from multiple providers
3. Add your name and email address and one of our approved providers will be in touch with a copy of your quote.
Ready to get started? Compare car lease deals