SELLING A CAR
The steps to selling your car: Trading in
29 August 2018
When it comes time to sell your car, depending whether you want value for your vehicle, or value for your time, you’ll need to decide whether to trade in your vehicle or sell it by a private sale.
If you’re wanting to purchase a new car as well as sell your current car, trading in your car might be the best option, as the dealership may be able to offer you a discount. Be prepared though that dealerships will need to offer you less for your current vehicle than you could expect to sell it for at a private sale as the dealership will need to onsell your car at a profit to them.
Weigh up the pros and cons of trading in versus private sale, and if you decide your time is worth more than money, trading in might be the best option for you.
Trading in your car
Trading in pro: A quick and simple choice for time-poor people.
Trading in con: Usually results in a lower selling price.
Step 1. Get organised
If your car service book has not been updated or or you don’t have one, visit your mechanic who should have the car’s history on record.
Step 2. Clean and polish
Getting your car detailed can help give a great first impression and increase the car’s value.
Step 3. Deliberate
Based on your research of the market, make sure you’re comfortable with the final offer.
Step 4. Negotiate
Compare dealer offers. Don’t be fixated on your trade price, it’s the changeover amount that is most important.
Step 5. Paperwork
Make sure you complete the required insurance and registration changes.
Step 6. Say goodbye
Hold back the tears as you hand over the keys and say goodbye.
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The information is intended to be of general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information. Please make your own enquiries.
