5 Tips for Getting the Best Price for Your Used Car - AllCarIndex

5 Tips for Getting the Best Price for Your Used Car

Jun 04, 2024

Selling your used car can be a great way to get some extra cash, but figuring out the right price to ask for can be tricky. You want to get as much money as possible without pricing it out of the market. Follow these five tips to help get the best price when selling your used car.

1. Do Your Research

The first step is to figure out the realistic market value for your car based on its make, model, year, mileage, condition, features, and history. Check sites like WhatCar? which lists prices for used cars. Look at both dealer and private sale prices to get a range. 

Also, search for similar vehicles in your local area that are listed for sale either online or in classified adverts. This will help you determine an accurate asking price based on what else is currently on the market. Adjust for factors like lower or higher miles.

2. Get Your Car Professionally Valued

For a more definitive valuation, consider getting your car professionally appraised. Many dealerships will provide free valuations, which gives you an independent quote to help price the car. Though they may undervalue it a bit to allow room for negotiation, it still provides helpful insight.

You can also pay for an inspection and valuation from the RAC or AA. This will check the car over thoroughly and give you documentation on its condition to show buyers. While it costs around £150, it can help justify a higher asking price.

3. Check Its Condition

The condition of your car greatly impacts the potential selling price. A car in excellent shape with a full service history, no accidents, low miles, and fresh MOT will fetch much more than one that's clunky with issues.

Spend time thoroughly cleaning and detailing the vehicle inside and out, including vacuuming, washing, waxing, and buffing. Fix minor repairs like changing fluids, replacing filters, touching up paint chips, and restoring headlights. This shows you've cared for the car.

Providing service records also demonstrates you've properly maintained it over the years. Buyers will pay more for cars in good nick.

4. Be Prepared to Negotiate

When pricing your car, leave yourself some negotiating room. Advertise it for around 5-10% more than your minimum acceptable price. This way, when buyers try to haggle you down, you can meet in the middle.

Avoid listing it as "price non-negotiable" or "no offers", as most buyers will expect some flexibility in private sales. Be prepared to negotiate to find an agreeable compromise.

5. Consider Auction or Dealer Sale

Finally, weigh up options like selling to a dealer or auction house. While you'll normally get less than private sale value, these can be quicker and simpler alternatives. You can search ‘sell my car online’ for an up-to-the-minute valuation. 

Do your research to get the best possible price. And don't jump too quickly at the first lowball offer – a bit of patience could earn you hundreds or even thousands more! Good luck with your used car sale.