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Tips to Selling Your First Car
Generally when people purchase their first car they don’t invest a lot of money in it. Unfortunately, the stats show that you are far more likely to have an accident in your car in the first few years of passing your test. If you are under 25 years of age then the risk is even greater. How people sometimes tackle this is by ensuring the car that they purchase first time round is a cheaper vehicle that is road safe but not too prestige. This would mean that if there is an unfortunate accident the financial implications are not as heavy. In addition to this, as insurance rates are a lot higher for first time drivers then the cheaper the car generally means the cheaper the insurance. Here are some of the tips in respect to selling on your first car.
Scrap Value
If the car you have is not particularly expensive then it may be a lot more cost effective to scrap it rather than sell it. There are companies out there such as Scrap Car Network that will offer to give you cash for your car in as much hassle free way that they can. How this would work is that you would enter your car registration number into their website and answer a few of their basic questions around the car condition, working order etc. They will then give you a proposed cost based on the information you give. They will then work with you to agree a date for them to visit your home or workplace to collect the car but will check it out first to ensure the information you have given them is accurate. This process is all pretty simple and the cash will be given to you pretty promptly in a secure manner.
Private Sale
A very common way to sell your car at a good value is via private sales. Here you would be able to advertise in places such as a magazine, newspaper, online or even in your local shops. You would give as much information as possible about the car which would include the mileage, condition, colour and maybe even some photographs. From the price that you advertise the car at (or nearest offer) people would then contact you (hopefully). This would include the coming to have a view of the car and they may even request a test drive. If a test drive is requested then be sure to check out the insurance details beforehand (and ask for evidence), this should also check the other persons driving legibility (licence). If you let someone drive your motor vehicle without the correct insurance or authority then it can land you in a bit of a pickle with the authorities if you are pulled over. Negotiating a price for the sale is an important part of this process and it is very unlikely that the buyer will offer you the money that you advertised this for. Be prepared in advance to have a minimum amount that you would go down to and stick to this.Haggling can be expected.
Trading Your Car
Once you have run in your first car, it may be time to then upgrade to a better one. The most common way people purchase cars is via a car sales showroom. Although these places have reputations of being “Cowboys” you can be rest assured that this is probably one of the safest and secure ways to get your car sold (or traded in). Once you have chosen your new car purchase then the car dealership will look to haggle with you on a price for your car. The car will require to be in good working order for it to be even considered, in fact they may even ask that one of their mechanics check it out first before committing on a price. Once a price has been agreed then the job is done – they will take this off the value of the car that you are purchasing from them. Hassle free and pretty simple way however may not be the most cost effective.
Auction
There are many different car auctions that run daily around the country. Here, buyers are looking to get a real bargain. You could look to place your car into one of these places in order to see if people will bid against each other in order to get your vehicle. If you chose this version then you are almost guaranteed to get a quick sale but it may not be at the price that you expected. As such, it is advised that you place a minimum sale price on the car so that if it is not met during the auction, the car is not sold and you can choose to either re-auction it or look at an alternative sales method.
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