Right now, the second-hand car industry is thriving. Due to a shortage of new models, the sales of used vehicles have more than doubled in the last few months. It has been reported that cars made within the last three years only made up for a miniscule 12.7% of vehicle sales, the lowest on record the motor industry has seen in years. The second-hand cars proving to be the highest in demand are petrol vehicles, however, electric and hybrid cars are not far behind.
If you’re looking to get rid of the banger that’s been sitting on your drive for some time, now’s the time to sell it – especially those petrol and greener vehicles. To ensure you get the most out of your car before you bid it farewell, take a look at these tips that will ensure your vehicle will sell.
Is Your Car Ready to be Sold?
Just because you’re ready to get rid of your car, does not mean that you should neglect it. You should reverse the thought process and think: If I were to buy a second-hand car with a filthy interior, would I be happy? If I were to buy a second-hand car that has not been well-looked after superficially, how do I know if it was taken care of in regard to servicing and maintenance?
Realistically, an unkempt interior wouldn’t even get you anywhere with a potential buyer. Many people would simply walk away no questions asked if they were to view a vehicle that had not been looked after.
So, before you advertise your car, make sure you’ve had it professionally valeted and serviced, and can prove to potential buyers that it runs well.
Do You Have All The Documents Ready?
Nothing screams confidence to a potential buyer than a second-hand seller who has all the correct and official documents ready and waiting. Printed records showing the car’s history, including service dates, reports, and full MoT details for every year of the vehicle’s life are extremely attractive to buyers.
It proves honesty on your part, and shows buyers you have nothing to hide. This is also very attractive to customers as it means they don’t have to spend time researching the history of the vehicle, and means the sale and exchange of the car is likely to go through faster.
Go Private or Online?
Selling your car privately means you’ll most likely get a higher price for it – this may be more attractive to you considering the current thriving second-hand car market. It will also most definitely provide you with some extra cash towards your next purchase.
However, private sales are renowned for taking more time to complete, as well as putting more pressure on the seller. If the sale takes longer than you expected, you may find the eventual higher sale price makes no difference: You’ll still have to pay road tax, insurance, and continue to maintain the vehicle.
Taking out an advert on an online selling service, such as AutoTrader or Gumtree will always guarantee a sale. However, these companies tend to offer the lowest price possible for vehicles as they operate on slim margins. This means they buy the car from you and sell it on as quickly as possible, potentially leaving you with a lower price than you would have got if you part-exchanged.
When deciding, consider your lifestyle and finances: Do you have time to advertise privately? Will you lose money if doing so? Where do you think you will see the most profit?
Conclusion – Sell Your Second-hand Car Today
If you’re ready to sell your second-hand car, there’s no time like the present. As used car sales soar like never before, ensure your vehicle is the perfect condition to sell, and reap the rewards.