Whether you own a Ferrari or a Fiat, the chances are at some point you’ll want to sell your car. For most people, it’s just part of the ownership process. Maybe you’ve seen a new model you fancy, or maybe something in your life has changed and your current car no longer suits – or maybe you no longer even need a car. Thankfully, it’s never been easier with a range of flexible options to dispose of your car.
Can I sell my car to a car dealer?
You sure can. The chances are if your car is in good condition and fairly modern, almost everybody in the car business will want to buy it from you. Practically every car is an opportunity to make money for a dealer, but they will only offer you market rate – the wholesale price, in other words. So, while this option is great for moving a car on quickly and not having to put up with the general frustrations of selling it yourself, you will get less money than if you sold it privately. There might not even be room for negotiation, as the dealer will only be willing to buy the car if they are confident they can make a tidy profit from it.
Before you go any further, use our valuation tool to find out how much you can expect for your car.
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This option is perhaps best if you’ve got your eye on a brand new car, especially one from the same manufacturer as the car you’re already driving. The dealer might give you a little more for your old car if you are upgrading. If you do choose the dealer route, make sure you can still get that discount on top of your part-ex. Clever salesmanship can sometimes talk you into a deal with less discount than you would have without your car as a part-exchange.
Selling your car privately
Selling your vehicle privately is probably the most difficult option; it usually takes a long time (the average time taken is actually 7 weeks) and requires quite a bit of work. However, this is the way to get the best possible price, so it’s the best method if you’re prepared to work for it. If you love a deal and the thrill of the negotiation, then this is option for you.
You’ll have to deal with enquiries from potential buyers, arrange for visits and test drives, and spend time taking pictures and posting adverts for the car. Normally, the best way to do this is online, using dedicated classifieds - like our dedicated Used Car Section, for example. However, you could also try your local newspaper or a good old-fashioned advert in the window of the car. If you do manage to sell your car privately, make sure you are paid correctly, so you’re not defrauded and left out of pocket.
There is some great advice on The Money Advice Service about selling privately here.
Car-buying websites: the final option?
Car buying websites pump a lot of money into advertising, so you’ve probably heard their jingles by now. We will let you into a little secret. Alright, you probably already knew it anyway, but you’re probably not going to get the best price from these services. But…..
This has become an increasingly popular way to sell over the past 5 years, and it’s easy to see why. With busier and busier lives, we’re putting more of a premium on our free time. These services offer exactly that, a quick and easy solution with cash in your bank sometimes on the same day.
Many of the services come with free collection too, so it’s incredibly convenient and painless. You just need to be realistic about the condition of your car, as these services tend to value your car on which band it falls into: Poor, Average or Excellent etc.
If you’re busy and more concerned with time and convenience than a small percentage off the price, then this is the option for you.
At Regit, we offer a unique comparison service for when you’re parting ways. We have compiled the best quotes across the market for you, all hassle-free for you.