Need to make room for your new car? Let us help you make the right decision.
We have partnered with the Car Buying Group who will provide an instant quote for your existing car. They will collect on a day of your choice. This removes the time and hassle of selling your car.
This is a simple solution that ensures the finance is cleared and transfers any remaining value as a deposit on your next car. The dealer will usually arrange for a settlement of any outstanding finance on your behalf.
Selling your car privately usually achieves the highest price, however, it requires time and hassle. many sellers chose this option, adverting online to find a buyer.
Sell your car quickly
We have partnered with the Car Buying Group who will provide an instant quote for your existing car. They will usually pay for the car by 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.
They typically provide a higher price than is likely from part exchange, especially where a heavy discount is achieved on the new car. They can collect your old car on the same day as you take delivery of the new car, though if the proceeds are required to pay for the new car you may need to adjust the timing.
The most common solution is to sell the car to the dealer you buy from.
It is a simple solution that ensures the finance is cleared and transfers any remaining value as a deposit on your next car. The dealer will usually arrange for a settlement of any outstanding finance on your behalf, regardless of whether you are getting your new finance via the dealership. You will still need to notify the DVLA of the sale and update your insurer.
The advantages of part-exchanging your used car are that the process is quick and simple, as the cash amount received is reduced from your next car purchase, either new or second hand. The value of your old car is used as a deposit against the cost of your next car, and if you have finance on your existing vehicle the dealership will usually be able to organise a repayment on your behalf.
Before approaching the dealer for a part exchange value, check your car value through car valuation guides such as Parkers, CAP, and Glass’s. It is the trade value that the dealership will offer. Often dealerships will give less discount on a new car if they need to factor in part exchange. This allows them to add more value to the part exchange price. It is usually best to negotiate your new car price first before requesting a price for your part exchange. This improves transparency on how much you are receiving for your current vehicle.
Many of our suppliers can arrange to take your existing car, however, if your car is more than 5 years old with more than 50,000 miles we would recommend selling it privately or to the trade.
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 car including the registration number, miles, previous owners and general condition and base your decision on what supplier to select on the responses received. 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 cannot guarantee that suppliers will purchase your car as part of the deal, but it is unusual for this to be a problem.
Sell your car privately
Selling your car privately usually achieves the highest price for your vehicle, however, it involves time and hassle. You have no certainty on value achieved as it leaves uncertainty as to when the sale will go through and how much you will receive. When selling a car privately, having finance outstanding can also lead to additional complexities.
Advantages of selling your car privately include usually getting more money than any other selling option.
The standard process of selling your car privately starts with advertising online, demonstrating the car and agreeing on a settled price with the potential buyer, which then moves on to exchanging keys, money and the new keeper’s supplement.
Before deciding on the selling price check your car’s value through Parkers, CAP, or Glass’s. It is also worth looking at similar cars nearby to see how they are priced and how long they are advertised for before selling. Factor negotiation into your selling price and expect to barter. If you have finance outstanding on the vehicle, contact your finance provider to obtain a settlement figure and confirm the process if selling privately. You will need to repay your finance before transferring the car ownership.
Potential buyers may want to test drive the car, so insurance is important. They may have third party cover for other cars, from their current insurance policy. If your vehicle was damaged, third party cover would not provide you with any money towards repairs. Therefore it is safer if you drive the car yourself.
Instant bank transfer is a safe payment method; you can release the keys once your bank shows the money deposited. When the buyer is paying in cash ask them to pay directly into your bank account. The bank will then validate whether the notes are genuine or not. This may only apply to smaller value deals, and most banks will not accept large quantities of cash. Ask the seller for proof of ID to match the details needed to complete the V5C in document.
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
You can use one of the major sites such as Pistonheads or Autotrader to advertise. They will charge a modest fee to list your car and buyers can contact you directly to arrange viewings and negotiate the price.
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, make, model and trim along with bodystyle
Year and registration letter: include both the year and registration plate information eg. 2014/63 plate
Features: include the best features of the car to set it apart from the rest: leather seats, premium audio, sunroof and navigation are popular
- Colour: don’t be too specific eg. metallic light blue
- Mileage: state the current mileage
- Service history: state whether it is a full or part service history and whether completed at a franchised dealer
- MOT: include details of when it expires
- Photographs: Take 12 plus photos from all four sides, all four corners, inside the car, the boot and of the dash with the mileage showing
Sell by Auction
You will need to pay a fee to enter your car into an auction and you may be able to set a reserve depending on the vehicle. Usually you need to have the V5C registration (or logbook) and a valid MOT certificate to hand when you submit the car into auction. The highest bidder on the day takes ownership of the car immediately on payment to the auction company. You will then receive your money from the auction company, minus the commission fee, within a few days. If the car does not achieve the minimum reserve price you will still own the car and have to take it back. There is usually an additional fee for non-sales.
Selling via auction can provide a quick and trouble free sale as most cars tend to sell. If your car is a popular model in good condition with a service history you should have no difficulty selling the car and may get a reasonable price. Once the car is sold you can expect a payment from the Auction House to be received quickly and efficiently. Should the car develop a fault following the sale, the new owner has no comeback against you.
Unless you set a reserve, you have no control over the sale price and price is very dependent on the day. Prices tend to be the lowest of all of the sale options available. The most you can expect to receive is the trade price, which may be a lot less than you receive if you choose to sell privately. There is no guarantee that the car will sell, and if it doesn’t then you will still need to pay the entry fee, plus a non-sale fee. The auction house will deduct commission from the sale price.
Make sure your car looks as good as it can both inside and out. A well-presented car attracts more attention from potential bidders. Check that all your paperwork relating to the car is together before providing the Auction House with it, as most buyers will want to view this in advance, and the more paperwork you have the better.