MoneyMagpie

Declutter Your Driveway: Sell Your Car Online

Most of us don’t have too much space to spare on our driveway. And most of us could use a bit of extra cash. So ask yourself, how many cars do you really need? Maybe you don’t need a car at all. It depends on your situation. If you have kids that need to be taken to school and your partner needs to get to work, you’ll probably need 2 cars. But maybe you’re a young couple with two cars sitting on the driveway and only one of you ever uses them. Maybe you could sell your car and start cycling to work. There are endless scenarios.

If you feel like your car spends more days on the driveway than off it, it might be time to think about selling. That clunky automobile could pay for your next holiday.

That’s why we’ve teamed up with Gumtree to take you through a step-by-step guide to selling your car, from valuing it, to putting up an ad with the perfect pics and preparing it for sale. It seems like a lot of effort, but by the end of this article it will all make sense. This info all comes direct from Gumtree, so if you use their marketplace to sell, you’ll know you’re doing it right!

 

Valuing your car

Toy car and calculator

Main sources of evaluation

  • If the car is rare and/or worth a lot of money, it might be worth having the car professionally evaluated.
  • Use valuation guides
  • See the competition. The car is only worth what people are prepared to pay for it.

Look at other people’s car adverts of the same make and model with similar level of trim. Price your car competitively.

Factors affecting price

  • Mileage – A high mileage car reduces a cars value.
  • Service records – including when the last service was carried out. full service history can be an indication how well the car has been looked after.
  • Overall condition – scratches and bumps would cost the buyer more money to put right and could lower the purchase price.
  • Condition of consumables – including tires, brake pads and disks. Warn consumables will require replacement, further attention and cost to the buyer.
  • Factory fitted features – extras such as leather seats can increase the appeal to the buyer.
  • Modifications – assess carefully whether the car is more desirable to buyers to refit standard parts or the modifications ad value to the car.
  • Latest repairs – e.g. new windscreen. New parts can indicate a well looked after car, or the car has had an accident. Be prepared to explain the reason for carrying out the repairs.
  • Transferable warranties – and break downs could be covered therefore peace of mind to the buyer. This can increase the cars appeal and the asking price.
  • Accident history, damage, although repairable can reduce a cars value
  • Spares or repair – usually indicates a car is not road legal. The car cannot be driven on UK roads. The price should reflect a lower price due to the high risk to the buyer.
  • Time of year and demand – sell 4×4 in autumn and convertibles in spring to get the best response and price.

All aspects need to be considered i.e. a high mileage – car could have be mostly motorway miles driven, full service history indicates a well cared for car.

Selecting an asking price

Although in real terms there’s not much in it, £1995 looks visually better than £2000. If the buyer is interested in the car, expect for the buyer to try and reduce the asking. So increase the asking price slightly to factor this in.

If the car doesn’t sell

First thing to do is to review the advert again. Ask yourself – Are the viewing angles and quality of the pictures appropriate? Is the description correct and appealing? Has the  Gumtree sale options Select an option to promote your ad been selected  to promote your advert and stand out from the crowd? Have any factors that are deter potential buyers been addressed (e.g. short MOT)?

If the answer is yes to all, then the asking price may need reviewing. If you do decide to reduce the asking price, the state that you have done so in the description. Don’t keep changing the asking price every day.

 

Preparing your car for sale

Mechanic servicing a car

You’ve decided to sell your car. One of the best ways to achieve the maximum value is to prepare the car for the buyer. You will need to think like a buyer – make the purchase as attractive as possible. First impressions count. Visual and mechanical improvements should increase a cars value and help you to obtain the best price.

Get a mechanical inspection

It might be worth having a mechanical inspection of all possible faults. This will help you develop a picture of the mechanical state of the car before buyers turn up for a viewing. A vehicle history report will give buyers piece of mind and increase saleability. If the mechanical service is due, it may be worth having this carried out.

Renew the MOT if close to expiry. Having a fresh 12 month MOT will also increase desirability.

Correct any faults

To get the best price and to increase the cars saleability, the seller will have to assess whether they have the time or the resources for any faults to be fixed. Bearing in mind, any faults on the car become potential leverage for the buyer to reduce the asking price. It’s good practice to present the vehicle in the best possible state of repair.

At the very least get free quotations for the repairs to any faults.

Consumables and low cost replacement parts such as hub caps, carpets, window wipers wear over time. Replacing such items will give the impression the car is well cared for. If you don’t attend to them, they may even detract the buyer from the positive aspects of the car. Make sure all the tires are road legal, replace any blown lamps, repair chips in wind screen or replace entirely. On a test drive the buyer will want to check the brakes. Faulty brakes can put off most buyers. Small dents and scratches can be dealt with by a specialist and can make the world of difference to an appearance of a car.

Collect your paperwork

Collect all owner paperwork such as V5 certificate, keep all service receipts and user manuals in a file with a stamped service book, ready to show potential buyer. A fully stamped service book with service sheets can add value to the car. Unless filling out the proof of ownership to the new owner V5C/2 don’t alter any other paperwork yourself.

Clean inside and out

As the seller you can save some money by doing this yourself. If you are short on time, you can call on a car cleaning company can do this for you. Cleaning will help the car look its best for the photos and for when the buyers view the car. Remove cigarette smoke stains, animal hair, food crumbs and mess made by children.

Get rid of any smells

The car may look clean, but having lingering smells can put buyers off. Using an air freshener can overcome this.

Check fluid levels and tire pressure

Check fluid levels such as oil, coolant and screen wash. Have enough fuel in the tank for at least a test drive. Check the tire pressure as per the car user manual.

Remove personal items

The buyer would like to visualise owning the car themselves. You can assist by removing personal items. Don’t forget to clean out magazine racks, glove box and cubby holes.

 

Fellowes

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