Selling a car privately can be a time-consuming process, involving many phone calls, meetings with buyers for inspections and taking the car out for test drives – not to mention the cost of adverts if your car takes a long time to sell.
So here at ALA GAP Insurance we’ve compiled a guide to take you through the all the necessary steps for selling your car.
How to sell a car
Below you can find our top tips for selling your car quickly, safely and how to get the best price for you.
1. Fix your car – Check your car’s bodywork, electronics and tyres – as well as carrying out mechanical repairs.
2. Clean your car – Ensure your car is presentable inside and out. This will make it easier to sell and will also help you get a higher price.
3. MOT – Buyers are more likely to consider a purchase if your car has a recent MOT and has been serviced
4. Documentation – Buyers will also want to see the log book (V5), as well as any receipts, service records and handbooks.
5. Pricing your car – Overpriced cars put off buyers. Do your research to get a realistic idea as to much you should expect for your car.
6. Advertising – Whether you are advertising in local classifieds or online remember to list any faults or extras and answer any enquiries honestly.
7. Test drives – Test drives can be an excellent way to ensure a deal. But remember to check whether the buyer has the right insurance, and always accompany them during the drive.
8. Haggling – In all likelihood the buyer will expect you to haggle. Haggling can be a great way to secure a deal, but don’t accept a price you’re not happy with.
9. Payment – Once you have both agreed on a price, do not hand over your keys until you have received payment. Check that the cash payment is genuine and always wait for the cheque to clear before you hand over your vehicle.
10. Receipt – Always provide a receipt that states your second-hand car was “sold as seen” and always remember to keep a signed copy.
11. Paperwork – Make sure the new owner provides their details and signs the V5 owner’s document.
After you’ve sold your car
After you have sold your car, you have to inform the DVLA by filling in the V5C/3 section of the registration certificate and passing the rest of the certificate on to the new owner.
Within four weeks you should receive an acknowledgement letter confirming you are no longer responsible for the vehicle. As road tax is no longer transferable, if you still have road tax remaining on your car the DVLA should send you an automatic refund.
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