I’m a motors expert – three ways to get £5,000 extra for your used car
A MOTORS expert has revealed three ways to get £5,000 extra for a used car.
Used car prices have been climbing as a shortage of new vehicles off the production line since the start of the pandemic has pushed up demand.
Drivers looking for a second-hand petrol car this summer face paying almost £1,300 more than a year ago.
Ultra low emission zones in London, and similar schemes across the UK, have also led to a popularity surge for some models, experts say.
Here Ash Young, Managing Director at CarMats.co.uk, explains how to get the best price for your used car…
1. Keep it clean – worth approx £200
We’ve all been guilty of letting our car become an extension of our home – this can leave your vehicle covered in clutter and rubbish which can seriously affect the resale value.
A spotless exterior and a clutter-free interior create a positive first impression for potential buyers because it shows the car has been well cared for.
By investing a little time and effort into keeping your car clean, you can present it as a more desirable and well-maintained option to potential buyers, ultimately commanding a higher price in the resale market.
The simple act of making sure you keep your car clean and tidy and avoiding stains and spillages to the interior can maximise your profit by approximately £200.
2. Clean up any minor cosmetic scuffs and scrapes – worth approx £1,000
Although scratches and imperfections on the car’s exterior may seem small and unimportant, if you’re looking to boost the money you get for your car it’s definitely worth taking care of them before selling.
Buffing out minor scuffs isn’t as difficult as you might think, all it takes is some T-Cut and a bit of elbow grease.
Eliminating these imperfections not only improves the car’s visual appeal but also reassures potential buyers that the vehicle has been treated with care, which can lead to a higher resale price, as buyers are more likely to see the value in a car that looks well-cared for and free of blemishes.
Whether you do it yourself or enlist the help of a local garage, buffing out minor cosmetic scrapes and dents could maximise your profit by up to £1000.
3. Keep on top of services – worth approx £2,500
Regular car servicing not only maintains optimal performance while you’re on the road, but it also improves your vehicle’s resale value down the line.
Even if selling your car isn’t in your immediate plans, consistently taking your car for a service adds a significant selling point, as potential buyers are often willing to pay extra for a car that comes with a complete maintenance record.
A service is essentially a “check up” for your car, it covers everything from engine health to wear and tear, so it’s no surprise that buyers are more attracted to a car that has been serviced regularly.
Most manufacturers recommend one service every year or one service every 12000 miles.
Carrying out regular services and ensuring all recommended repairs are carried out could bump up your car’s resale value by around 20 per cent.
4. Evaluate which seller suits you – worth approx £1,200
There are a variety of options when it comes to selling your car, and they all have their own advantages.
Online platforms like eBay, auto trader and Facebook Marketplace will give you a larger reach so you can attract more potential buyers.
If you’re looking for a more stress-free sale or to trade in your car you could approach a local car dealership or garage.
In order to make as much money as you can on your motor, it’s best to steer clear of the quick sale sites, although they may be convenient they don’t offer the best price.
It may be tempting to opt for the convenience of selling your car to a dealership or quick sale company, but if you’d like to make as much money as possible selling privately can increase your profit by up to 10 per cent.
5. Make sure all the cars documentation is organised
Making sure your car’s documentation is organised and in good condition can elevate your chances of attracting a buyer.
The vehicles log book, service records and owners manual provide valuable insights into history and maintenance, making them well sought after amongst potential buyers.
By presenting a complete set of documents in good condition you’re ticking the buyer’s boxes and making your used car an attractive option.
This helps to attract more potential buyers, sourcing lost documentation from the DVLA can be a real headache, so it’s best to put your buyer’s mind at ease by having all documentation organised and available.
According to the experts at the Car Sales Centre following these tips could help you up your profit by approximately £5000 when selling your used car.