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How to sell your car

By raccars Published

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Buying a new car is an exciting time. There are so many models to choose from and the quality of used cars has shot up in recent years. This still leaves the motorist, however, with the thorny problem of what to do with their old car. Most of us buying a new car do have an existing car to sell and the traditional way is simply to trade it in. This can certainly be convenient but can you be sure that it offers the best value? There have always been alternatives and, in the new online world, these have increased but do they offer a better deal than the traditional trade in?

An option is to sell your car privately. It is usually thought that this will land you a better price but it does involve some work. You will have to advertise your car and make some time to deal with inquiries from potential buyers. Test drives will take more time and you will have to make sure that the insurance situation is covered. You can ask any potential test driver for proof of 'Driving Other Cars' cover (DOC), but it’s not a good idea just to take their word for it. You can also take out temporary 'any other driver' cover for the selling period but this, of course, eats into the price you get.

In the last few years, many online dealers have sprung up with the promise that they will buy any car. The process can seem simple and if you have an older car, the prices quoted may seem reasonable. Remember, however, that these prices are dependent upon an inspection and many potential sellers have seen the quoted price suddenly tumble at the inspection centre. At this point, you may feel committed and simply want to get the car off your hands, so there is a danger that you could accept a final price that is lower than you would like.

There is always the option of selling your car at an auction but there is no guarantee that it will sell and the auctioneers will take a cut if it does. So, is the trade-in so bad? Not necessarily. You should always compare your car to others on the market, so that you have a realistic idea of its worth. Similarly, you should have done your homework on the price of the car you are buying. If the dealer is offering a fair price for your old car and the new car price is not inflated, a trade-in may be the simplest option after all.

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