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Planning to sell your car? Before you do anything else, find out the value of your car. Try using the car valuation tools on sites such as Parkers , What Car?
The next best option is dealer part-exchange, followed by a car-buying website. Part-exchange: The easiest way to sell your car is to trade it in when buying a new or used car from a dealer. Selling outright: Selling outright to a used car dealer or garage is a relatively quick and simple process. There are lots of online car buying sites that will offer to take the work out of selling a car. However, Which? If you do choose to sell your car online be aware that usually the online valuation is subject to a physical inspection of your car.
If the inspection reveals some faults, the final valuation figure might be considerably lower. You also might have to pay an administration fee for the service. Most auction buyers are in the motor trade. If your car sells, the winning bidder pays for it immediately and the auction company then gives you the sale price minus its commission. Large car auction companies such as British Car Auctions and Manheim have branches throughout the country, but you might find it easier to use a local independent auctioneer nearer to you. It is illegal to knowingly sell someone a car with outstanding finance without informing them of the situation.
If you are selling a car with finance still outstanding there are two things you must do before you can legally sell it:.
Choosing the best way to sell your car
Despite these costs, paying off your loan early should end up costing you less than your remaining payments would have done. The finance company will have registered your car on the HPI and Experian databases when you took out the finance plan. Timing is important when selling a car — both the age your car has reached and the time of year you sell it. However, new tax is now backdated to the beginning of the month and refunds are from the start of the next.
This could make it tricky if a buyer wants to test drive your car. If your car is reaching the end of its life and becoming uneconomic to maintain, consider donating it to charity or scrapping it. Sorry, web chat is only available on internet browsers with JavaScript. Got a question? Our advisers will point you in the right direction.
Best ways to sell your car
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Best ways to sell your car - Money Advice Service
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