A How To Guide for Successfully Selling Your Car

If you have decided to sell your car, you want to make sure you can get as much money for it as possible. The most common ways to sell a used car are either to offer it in part exchange for a new or nearly new car, or to sell the vehicle privately. Knowing both methods pros and cons will help you choose which method is most suitable for you.

Typically you will get considerably less money for your car if you part exchange it and there won't be much room for you to negotiate on the offer price, although the process will be very simple and you will not have to worry about the hassle of dealing with strangers and arranging test drives. If however, you are prepared to put in a little effort you could sell your car privately, which will give you the best chance to maximise the amount of money you receive for your old vehicle.

No matter which way you eventually decide to sell your vehicle you will still need to prepare it properly so it is looking at its best before offering it for sale. If the vehicle is relatively new, or even a prestige model, arrange to have any significant scratches or knocks repaired. It may seem expensive to do this, but you will get the money back in the final sale price. Give the car a thorough clean inside and out and give the bodywork a polish to show it off at its best.

You could consider having the car professionally valeted to achieve the best appearance possible, although bear in mind that the cost of the service will have to come out of the final sale price. Don't go too far and steam clean the engine bay, as it will make a potential buyer suspicious of any engine problems you might be hiding.

Prepare all of the paperwork associated with the vehicle, the most of important of which will be the Vehicle Logbook V5 form. However bring together the service book, relevant receipts, and any MOT documents, and put them in a folder. The more information you have on the car, the more it will demonstrate to the seller that it has been well cared for and that all of the servicing work has been properly carried out.

When deciding on a selling price you should use the internet and classified adverts to give you an idea of what the car is worth, but don't pitch the car too cheaply as most buyers will expect to haggle on the price, and so you need to give yourself some room to manoeuvre. Don't forget to point out any optional extras the vehicle might have like xenon headlights, climate control or alloy wheels.

If you are selling the car privately the potential buyer will probably want to go for a test drive, so before setting off make sure they have suitable insurance. During the test drive you will normally need to swap places, to allow the buyer a chance to drive, however never leave the buyer in the car alone with the keys in the ignition. Turn the engine off and take the keys with you when you swap places and then hand them to the prospective buyer once you are in the drivers seat, otherwise you may never see the car again.

Once the price for the car has been agreed, make up a receipt for the buyer and keep a copy for yourself, and you will need to send the V5 back to the DVLA with the details of the new owner on it. However never release the vehicle until you have received full payment, if they are paying by cash check for forgeries, if they are paying by bankers draft contact the issuing bank to make sure it is authentic, and if they are paying by cheque make sure the funds have cleared fully before handing over the keys.
(by;Jo Alexander)