Where and how to sell your vehicle
The time has come to sell your car and there are many options. But which will get you the most money and which is easiest? Broadly, there are four routes to moving your car on to a new owner. Here are the main advantages - and disadvantages - of each.
Selling privately
Most people are familiar with the process and it can achieve the best price but it takes a little effort.
Advantages
- Likely to get the best price
Disadvantages
- Time and effort to create advert
- Have to deal with potential buyers
- Have to negotiate sale
Selling to a dealer
Some dealers will take your car even if you aren’t part-exchanging it against a newer model so this can often be the easiest way.
Advantages
- Straightforward price discussions
- Minimal effort
- Easy, especially if trading in an old car for a newer one
Disadvantages
- Probably not the best price paid
- May have to visit more than one dealer to find best offer
Car-buying services
The adverts are appealing and you can receive an immediate valuation but you are unlikely to get the best price.
Advantages
- Usually a guaranteed sale
- Usually quite fast
Disadvantages
- Won’t be the best price
- Value listed on internet will be subject to inspection where the offer value may be reduced
- Look out for admin fees
Auctions
Auction houses are more often frequented by dealers than private sellers but there is nothing stopping you trying this route to sell your car.
Advantages
- Auction house manages sale in front of multiple potential buyers
- Can set a reserve (lowest) price
Disadvantages
- Car may remain unsold - especially if reserve price not met
- Auction house costs and administration fees