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
- Sell for instant cash
- Sell your car privately
When buying a new 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 your perspective.
You need to look carefully at the overall cost to change figure on 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 (as below), you will then be able to obtain a lower price on your new car.
It is likely that the huge discounts on new cars through AutoeBid will significantly outweigh the benefit of a higher part exchange price with your local dealer (with little or £0 discount on your new car) – so the overall "cost to change" would be lower. Many of our suppliers can arrange to take your existing car however if your car is more than 4 years old with more than 45,000 miles we would recommend selling it privately or to the trade, as below.
We would recommend getting local used car dealers to offer you their best price to buy your car and coincide this with the deliver of your new car. When you have a confirmed delivery time on your new car you can then also advertise your car for sale in your local paper or on one of the leading used car websites. You can then hope to sell it to a private individual for around 10% more than a trader. Try our FREE "Broadcast your car" service or click on one of the trade used car buyers listed in the right had section.
How to part exchange my car through AutoeBid?
When you place an order with us, you
will receive multiple offers from
different dealers on your new vehicle
purchase. At this point you can simply
message each supplier with the details
of your px including the registration
number, miles, previous owners and
general condition and base you decision
on what supplier to select on the
Our fee will be charged if you achieve a winning offer on your new vehicle regardless of the supplier agreeing to take your car in part exchange. We can not guarantee any of our suppliers would wish to purchase your car as part of the deal.
Sell My Car - Sell your car instantly
We have partnered with a leading used car buying website who should be able to offer you a good price and an instant quote for your existing car. They will usually pay for the car by instant bank transfer, 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.
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.