selling your 1st car
As ur1st car is unlikely to be urlastcar, then you'll need to know what to do when the time comes to sell your first car and move on.
Apart from insurance, the biggest cost of car ownership is usually depreciation but it is only realised when you come to sell the car. A car that cost you £3000 two years ago might now only be worth £1000, so it has depreciated £2000 while you've owned it.
Advertising
There are many ways of selling your car but knowing your likely buyer will give you a better chance of achieving a quick sale at a price that's fair. If this car is an ideal 1stcar, then you'll probably be selling it on to another 1st time driver, so there's little point putting an ad in the Sunday Times motoring section. Get it on one of the many websites and look at the cost of local advertising. If it's a relatively cheap car, then potential customers are unlikely to travel long distances.
Put an advert up in the local supermarket and corner shop.
Stick an advert up in the car window, so people can see it — make the price the most obvious thing on the ad but make sure there's a contact number.
Tell your mates — somebody might know somebody who's looking.
Preparation
If your selling your car then make sure it looks it's best when people see it. Clean it, if you can't beat to do this yourself then there are many good quality, reasonably-priced valeting firms that'll do it for you from about £40.
Get all your paperwork in order. If you want to be super-prepared do a history and ownership check yourself to prove to potential buyers that the car is yours to sell.
Trade-in
If you're moving up in the world, then you might be looking to trade urcar in to a garage or dealer against another higher priced car. They'll take a look at your car and make you a trade-in offer. Don't take this straight away. Stop and think ! Can you get a better deal by selling privately? Do the sums — what you're looking for is the 'cost to change' that's what matters, not just what price they'll give your for your current car.
When the time comes
When you are showing a prospective buyer your pride and joy be honest and be safe. Don't 'misrepresent' your car by telling them things that aren't true. If you don't then it could come back to bite you through the courts.
Be safe when selling:
- never agree to meet somebody who calls you up somewhere you don't know;
- always have somebody with you when they are looking at the car;
- never give them the keys for a test drive — you might not see them or the car again;
- take somebody else with you as well if you do go for a test drive. It's not unknown for the owner to be made to leave the car part way round a test drive and drive off into the sunset in your car!
- check on insurance cover before they drive. Are they covered on your insurance or theirs? You may need to extend your insurance to cover this, so check with your insurance company.
