When it comes to selling your car, there are a number of areas where you can be stung from a financial point of view. It’s important to take certain factors into consideration in order to maximise your return on your vehicle. These are just a few tips and pointers on what to look out for and action when you next decide to sell your car.
1 – Show up with an empty fuel tank
It may seem simple, but a lot of people don’t take this basic tip on board. When you take your car to the new owner, be it a person or company, take it running on fumes. Too many people will fill up a tank out of courtesy, but that’s not saving you, the seller, anything!
2 – Valet the vehicle
Go to a car wash and clean the interior of the vehicle before you give the new owners the keys. For the time it will take, or the money for a valet, it’s really not worth neglecting as a scruffy unwashed car is more open to price haggling at the point of sale.
3 – Fix everything obvious before you make the sale
You can get more money for a car in full working order. The smallest of issues can drive down the sale price of a car. It makes more financial sense to ensure it’s up to scratch before you make the sale. The cost of a fix will more often than not be covered by the total price. You would lose more money to take a hit on the total price than if you got the issue resolved beforehand.
4 – Delay any non-critical maintenance until after the sale
Never sell, or drive around in, a car that is unsafe – ever! That said, there are certain maintenance requirements that are less critical and can be timed around a point of sale without impacting the total price and allowing you to save a bit. For example, the oil change on some models of BMW will cost over £50 on average. If you can time this to be required just after you make the sale, you can save yourself a bit of money.
5 – Sell the vehicle just before a payment is due
Like when you rent a property, if you have a car loan, your payment covers the next month. This means that if you sell your car just before the payment is due, that money can stay in your pocket that month. Obviously, you can’t neglect the financial commitment, but with the total from the vehicle, you should be more than covered depending on what stage of the agreement you’re at.