Unless you're buying your first car, or are buying an additional car for the family, then you will probably have your old car to sell or trade-in. Getting the best price for it will help to reduce the amount you have to pay out for your new car, so it's worth doing a bit of research to find out how to get the best deal.
Some of the options include:
Trade In
This is the quickest and most convenient way to sell your car. If a dealer is keen to sell you another car they may offer a good price for your old one, although in general, you'll tend to get less than if you were to sell it privately.
At a Dealer
Second hand car dealers are always looking for decent stock, so if you've got a car they might be interested in selling, they may make you an offer. Although you won't get as much for it as if you sold it privately, it should be a relatively quick, hassle-free sale.
Classified Ads
You can sell you car privately through classified ads, whether this is through your local or regional newspaper, a motoring magazine or a dedicated classifieds magazine. Bear in mind that the higher the car's value, the further people will travel to see it; only advertise in a national newspaper if you're selling an unusual or valuable car.
Online Classified Ads
Placing an advert online can be relatively cheap, and can allow your car to be seen by millions of potential buyers. It can cost as little as £6 to place an ad; some sites will run your ad for a specified number of week, whilst others will allow the ad to remain live until the car is sold.
At Auction
Auctions can be an interesting way to sell your car, giving you access to hundreds of potential buyers. The whole process is quick and simple, with no room for timewasters. However, you'll usually have to pay a fee to enter your car into the sale (about £20), and you'll also have to pay commission on the final hammer price (approximately 10% of the selling price, plus VAT). You can find out more about selling your car at auction in the Auction Resource Centre.
At Online Auction
You could also sell your car via an online auction site; this option is becoming increasingly popular as you can set a reserve as well as an end date and decide on the terms and conditions. Not only that, but the fees are typically very low and gives you access to a huge number of potential buyers. However, you must make sure that you are realistic with your pricing and you set a reserve, otherwise you could lose out. You should also bear in mind that there are an awful lot of timewasters out there, so you'll need to be prepared for a fair amount of hassle.
Find Out More ...
You can find out more about selling your car elsewhere in this section, including advice on preparing your car for sale, setting a price and dealing with private buyers.
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