Sell My Car - Selling your existing car?

Auto eBid can save you a fortune on your new car purchase – and here is some advice for the best way to get the highest price or a hassle-free sale for your existing vehicle.

What options do I have for selling my existing car?

• Part exchange your car
• What is my car worth? - Free car valuation
• After the Government Car Scrappage Allowance?
• Sell for instant cash
• Sell your car privately

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Part exchange

When buying a new (or used) car from a dealer, they may be prepared to offer you a part-exchange price for your existing vehicle, to be offset against the price you will pay for the new car. This makes the whole transaction simple from the buyer's point of view, but it is important to understand the part-exchange valuation.

When your local dealer offers you a part exchange price against the purchase of a new vehicle, they will often substitute some of the margin that they have in the new car to bump up the price they can offer on your existing car. Whilst they will not then offer any discount on the new vehicle, it makes the over-inflated deal on the part exchange seem very attractive from the buyer’s perspective.

You need to look carefully at the overall cost to change cars, that is: the difference between the price you are paying for the new car minus the price you are getting on the part-exchange. If you decide not to part exchange and use another method of disposing of your existing car, you may not get such an attractive deal on your existing vehicle. But it is likely that finding a good discount on the new car through AutoeBid will significantly outweigh the benefit of a higher part exchange price – so the overall "cost to change" would be lower.

Previously Auto eBid has been able to organise reverse auctions where dealers able to supply your new car and also take your part-exchange bid against one another to supply you. Their bids were therefore the "cost to change" and the resulting discount applied on that figure making the whole process transparent.

Unfortunately the conditions in the market at present are such that many dealers are reluctant to offer part exchanges and we feel that making a part-exchange part of the conditions of purchase will not result in the best possible discount. Discuss your part-exchange with the dealer that is successful in winning your order. They may be prepared to offer you a good price but be prepared to sell your car by other means in order to get the best price and so minimise your "cost to change".

Have an old car over 10 yrs? view the £2,000 Car scrappage scheme details

Sell My Car - Sell your car instantly

There are a number of used car buying websites which will give you an instant quote for your existing car and can arrange to collect it at a convenient time. They will usually pay for the car by instant bank transfer upon collection, which takes away the time and hassle that can be associated with selling a car. Their instant quote also gives you a starting point for working out your cost to change without using part-exchange.

Whilst you will be offered a price in the region of the trade value for the vehicle, it’s a great option to fall back on if you don’t want to sell privately or part exchange. Don't forget, if you sell your car separately this way, you can then buy your new car at the lowest price using our reverse auction service and this may reduce your "cost to change" compared to part-exchange, for example.

Simply click on the following links or click here for more.

 

Sell My Car - Sell your car privately

To get the best possible price for your existing car, it is well worth considering selling it privately. Placing an advert in a local newspaper or national magazine is a common way to sell. Whilst a private sale requires more work for a seller than the other two options, it will almost certainly ensure the highest selling price for the car – and your new car supplier can usually be reasonably flexible to arrange delivery of the new car at a convenient time to fit with the sale of the old one. If you do sell your car separately, you can then buy your new car at the lowest price using our reverse auction service.

Increasingly, car owners are advertising their existing cars on-line, either for free on some sites or through paid adverts, especially where these are linked to traditional media. Click here for more about placing an advertisement online.

How do I create a description of my existing car?

In order to provide a fair and accurate description of your car, you need to include certain information and we suggest that you have the following documentation to hand: V5 Registration Document, MOT Certificate (if your car is over 3 years old) and the car's service history book.

It is important to detail honestly the overall condition of your car including any marks, scratches, exact mileage etc.

Wording an advertisement

An advertisement is the first point of contact that you have with a potential buyer – so it needs to be good. As a rule, it’s worth being specific whilst keeping it succinct. You should make sure you have included the following:

• Exact model details: include the engine size, sub-model (eg. SE) and number of doors
• Year and registration letter: include both the year and registration plate information (eg. 2004/53 plate)
• Features: include the best features of the car to set it apart from the rest: air conditioning, leather seats, CD player and sat nav are most popular
• Colour: don’t be too specific (eg. metallic light blue rather than ‘Metallic Tonic’ which means nothing!)
• Mileage: state the exact mileage (to the nearest thousand)
• Service history: state whether it is a full or part service history – and whether completed at a franchised dealer
• Tax & MOT: include details of when they expire
• Colour photograph: you will attract more attention with a clear photo of the whole car

How do I ensure I have a realistic valuation of my car?

It is important to have an accurate valuation of your car when selling privately – if you ask too much it will take a long time to sell, too little and you risk losing out. Simply obtain a FREE used car valuation through us as well as looking at what similar vehicles are being sold for to obtain a good idea of valuation.