Skip to content

What To Know When Selling Your Car

There are a lot of aspects to consider when selling your vehicle. Are you looking to sell it quickly? Make as much possible? Do you want selling to be as effortless and as stress-free?

Selling quickly in the traditional manner

If you’re considering trading the car you have been driving for one that’s newer, normally you’d trade in your vehicle part-exchange in a dealership.

But, you won’t ensure that you’re getting the most affordable price. The dealer is likely to take your vehicle to auction. Naturally they’ll want to turn a an income. They may not be able to offer the same car’s worth.

Selling your vehicle privately

Selling privately could earn you more cash, if you find a buyer. However, it’s likely to require more effort. You’ll need to:

Pay for and arrange for advertising
Get your documents ready
Contact potential buyers, including inquiries, viewings and test drives
Negotiate a fair price
You must ensure that payments are made in a legal and secure method

The price of your car should be realistically priced.

If you are looking for a quick sale, it is important to make your price realistic.

Check out online websites such as eBay, AutoTrader and AA Cars to find out what similar vehicles are being sold for. It is also possible to search for the dealerships in your region.

Preparing your car for sale

Whatever way you decide to sell your car making it sale-ready is vital if you want to sell your car quickly and receive the highest price. The appearance, the mechanical condition and service history could be the difference. You must:

Clean your car from inside to out and ensure that it’s always clean
Repair minor paintwork damages or simple mechanical problems
Make sure you have a new MOT, especially if there’s less than three years on the old one.
Take a look at a professional and full valet service. It’ll make your life easier and be a huge the difference.

Did you know? We buy any car UK..

Financing a car to purchase a vehicle

If you’re looking to sell a vehicle that you’re financing, the initial step would be to reach out to the finance company you’re with to talk about options or to get their approval.

If you’re selling your vehicle privately, you’ll have to pay off any outstanding debt first, because it’s illegal for you to sell a vehicle you do not own 100. Also, don’t forget any outstanding hire purchase or agreement to sell with conditions.

If you’re selling through dealers, they may be able assist you in making the process more efficient.

Setting up an opportunity to test drive

When you invite potential buyers to see or your vehicle, be sure to ask for their address, name, and telephone number. Genuine buyers should be willing to give these details – and they will accept when you call to confirm the arrangements and verify the number provided.

If the buyer would like to drive the vehicle make sure they bring their driving license. If your insurance does not cover it, verify that the insurance coverage of the buyer.

Always take part in any test drive. If you change seats midway through the trip Take the keys with you and give them back when you are back in the vehicle.

If you’re concerned about being in a room with a stranger, request your friend or family member to join you during the show or to test drive in the event that you are able to.
Learn more about

Don’t fall for fraud

Beware of buyers who may contact you on the internet or via phone asking for specifics such as the VIN number of your car. They may make use of this information to create duplicate advertisement. Genuine buyers should be delighted to visit the car and review the information for themselves.

Make sure you have your documents prepared

If you can If you can, keep all important documents in your possession including your car’s MOT certificate and service records. A properly stamped service history can make your vehicle more appealing to buyers.

Do not allow potential buyers to make copies or photographs of the documents in your vehicle prior to the time you’ve sold it. You should only hand over the paperwork once you’ve reached an agreement on the sale and have received the money.

You must be sure that you are paid.

The majority of banks consider bank transfers as the safest and most efficient method of payment. Customers can pay over by phone or via online banking at any time and all day.

You can also send a transfer to your bank immediately through the CHAPS system, but you’ll typically have to pay fees.

ESCROW that is a way of ensuring an uninvolved third party holds money on behalf of both the buyer and you could be a secure method to get paid. But you must be wary of fraudulent ESCROW and shipping firms suggested from the purchaser. To determine if a business is genuine, check the Financial Conduct Authority’s (FCA) financial services register.

If the buyer wishes to pay by private or building societies check, explain the buyer that you’ll need in order for funds to be cleared. Be aware the fact that drafts from banks may be faked.

It’s crucial to not give the keys away until you’re 100% satisfied you’ve received your money in full.
A receipt of payment is required.

When the buyer leaves before leaving, it’s best to prepare an invoice and a sellers’ agreement to safeguard yourself.

Be sure to:

The receipt contains the words “sold in the manner that was seen, tried and approved, without any guarantee”
Print 2 copies of your contract: one copy for yourself and one for your purchaser
Both you and your buyer must confirm and date both copies of the contract.
Each of you keeps the original signed copy to prove of purchase

Keep in mind that even though the buyer has agreed that the vehicle is what you’ve described at the time of sale, it doesn’t limit their legal right to refuse a vehicle they later discover isn’t roadworthy.

Inform the DVLA

Inform the DVLA be aware whenever you can that you’ve sold the car and no longer are responsible for it. You don’t want to wind in a situation where you have to pay penalties or parking tickets the new owner may be accountable for.

Make contact with DVLA and inform them that you no longer own the vehicle the vehicle. The fastest and easiest method is online. The car’s record will be officially updated and you’ll receive an amount of money back on any unpaid tax on your vehicle.

You may also notify the DVLA via post, however it may take longer to be updated and also to receive any refund on tax for vehicles. Complete the ‘New Keeper’s Details on your V5C logbook. Both buyers and you need to acknowledge the declaration. Then, you can send it directly to DVLA.

If you decide to notify the DVLA via the internet or mail ensure that you send your buyer the V5C/2 portion from the V5C logbook. It’s evidence of keepership until they receive a new V5C form the DVLA.