Find out which of the options below best suits you.
A private sale is likely to be the most profitable option, but requires the greatest amount of time and effort on your part.
You need to weigh up the likely costs and inconvenience involved. If you are selling a registered vehicle you will have to pay for any repairs necessary and get a safety certificate before you can advertise it for sale.
You can sell the vehicle unregistered to lower your costs (i.e. by not getting a safety certificate), but this will generally lower its value.
Options for advertising your car privately include:
Don’t get too hung up about the trade-in price as it's the change-over figure (the cost of moving from your old to your new car) that's most important.
Make the car presentable but don’t waste money fixing minor cosmetic problems.
Some motor dealers may buy cars outright, without you buying a vehicle from them. This could be a quick and acceptable way of disposing of a used car.
Selling on consignment is when you give someone your car (e.g. a motor dealer) to sell on your behalf. Generally you set the minimum price you will accept and the dealer will add a commission to it.
Make sure the dealer you select is licensed and that you have a contract that clearly sets out:
Also ensure that you can still sell the car privately or withdraw from the arrangement without penalty.
Note that you will have little control over who drives your car while in the dealer's possession. As the registered owner you may be held responsible for anything that happens to the vehicle, including traffic infringements.
Online car markets charge differing rates and offer various options for advertising through their sites.
They also have varying degrees of prominence in the marketplace and subsequently attract varying audience sizes for buyers and sellers.
Looking for the cheapest cost for advertising online may not necessarily constitute the best deal.
To find an online advertising deal that works for you, compare the cost of advertising with the amount of advertising time this buys you and the likely exposure this gives you to potential buyers.
Auctions are another option for the disposal of used cars, particularly those that need some work to make them saleable. Consider the following points:
Fees and arrangements for auctions vary so you will need to discuss this with some auction houses to find the best one for you. You should also discuss the reserve price with the one you select.
Check your local newspapers for groups or individuals willing to collect your damaged or derelict vehicle.
The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.