HOW TO SELL YOUR CAR
When selling your car, you need to make a decision on what selling method works best for you.
Your options are:
- Sell privately – using adveritising sites such as Carsales.com.au
- Sell to a dealer, or if you are looking to purchase another car you could:
- Trade in your car
Here’s our top car selling tips to consider:
SELLING PRIVATELY – THE GOOD STUFF
- Selling privately gives you wriggle room to negotiate based on the best price and offer. Especially if you have a unique car, or a model that is in demand.
Notes: To understand what your car is valued at, use a market valuation tool, such as Redbook. This industry guide identifies the market value of the car based on it’s age, condition, and mileage. This is the industry valuation tool used in sites such as Carsales.com.au and is also used by many financial and insurance industries to understand the value of a car.
Easy Car Sale Victoria prices are generated using Redbook.
TOP TIP: It is always recommended to look at valuation tools (such as Redbook) before considering a price based on other advertised cars online. Without knowing how long the car has been advertised for, or how in demand that style it may be hard to come to an acceptable market price.
COULD POTENTIALLY SELL FROM THE CONVENIENCE OF YOUR HOME:
You could ask the seller to come to you, saving you time and money in travel costs.
SELLING PRIVATELY – THE BAD STUFF
The average privately advertised car sits in market for over 150 days. Which won’t affect you as much if you aren’t in a secure financial situation, if you don’t have finance owing on it or high insurances to consider, or registration due within this period.
Once sold, your purchaser may also may need finance.
You will receive some unrealistic offers, some customers who may not be thorough in their questioning initially and take up a lot of your valuable time in asking questions.
You will need to obtain a roadworthiness certificate to sell your car. This takes time and costs around $110+ for a check, and then the costs to fix any issues you may need to fix to bring the car to a roadworthy condition.
Once sold, you will also have to sort out transfer paperwork and ensure the buyer lodges the form as required.
SELLING FROM HOME IS RISKY:
You are allowing strangers into your personal space. We recommend meeting somewhere privately, with no valuable belongings on display.
You also have to trust that when they test drive your car, they won’t get into accidents, or even worse, drive off with your car!
TOP TIP: Always meet the potential buyer in a safe area, where other people are around. It is recommended you ask to sight their identification, and even ask for something as a bond if they are test driving the car. Or you could also ask to guide them on the tour of the car so you can show them through the features of the car.
SELLING TO A DEALER/TRADE IN – THE GOOD STUFF
Most of the time paperwork is handled for you, finances can be paid out quickly on your behalf, no time required obtaining roadworthy certificates etc.
You may be also able to negotiate, depending on the dealer and condition of car.
PEACE OF MIND:
You receive payment from a registered licenced motor trader, you can be assured that paperwork will be lodged and that your safety and time is not compromised.
Things will move a lot quicker selling with a dealership.
SELLING TO A DEALER/TRADE IN – THINGS TO THINK ABOUT
You may be offered a market value pricing, which may not be the figure you were hoping for initially. Your car will also be reviewed on it’s condition, and if any works need to be completed.
Regardless of how you sell your car, once you have sold your car it is recommended that you cancel any toll accounts, arrange transfer forms and remove any personal belongings from the car.
SOLD CAR CHECKLIST:
- Toll accounts cancelled and tags removed from windows
- Make sure any fines are settled
- If you have service books, make sure they are left in the glovebox or in the car easy for the new buyer to see
- Transfer of registration form completed (see Vic Roads site for form details)
- Check under seats, mats, centre console, glovebox boot etc for personal belongings
DO YOU HAVE ANY MORE SELLING TIPS?
We’d love to hear them !