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Everybody wants to get the best price they can for their used car but the truth is, there are two types of car-buyer: those who have a small amount of cash and want the best car they can get for that amount and those who know which make and model they want before they go looking. The first type should be avoided like the plague unless you know that your car has very little value. They will never appreciate any better-than-average features of the car because they are operating within a rigid budget.
You can get an approximate idea of the car's value by looking up the model in a price guide such as Parker's or Glass's (UK) or What Car magazine. This should be viewed in combination with other factors like mileage, mechanical condition, exterior condition, interior condition, etc to establish the selling price.
Mileage is less important these days because modern engines tend to be much more reliable than they were in the past and it is not unusual for an engine to last for hundreds of thousands of miles but, generally speaking, a figure of around 10-12,000 miles a year is the norm.
The mechanical condition of your car can best be assessed using your ears. Most problems with either the engine or the running gear of the car will manifest themselves as some kind of unusual noise. Check for excessive smoke from the exhaust pipe, any signs of leaking where the car stands, any unusual wear on the tyres and the alignment of the steering wheel while the road wheels are pointing forward. If there are any obvious mechanical defects, it usually pays to get these fixed because if you don't you'll have to factor them in to the price.
The exterior condition of the car is a massive selling point. As with any purchase, if the buyer forms a bad first impression, it is almost impossible to change this. Wash the car and check for any paintwork that can be touched up prior to selling.
The interior condition of the car is also an important factor. Nobody wants to spend their money on a mobile dump. Take any personal possessions out and throw away food wrappers, cigarette packets, etc and get an air freshener.
In the UK cars over three years old have to undergo an annual MOT (Ministry of Transport) test to check for road-worthiness. A car that has recently passed its MOT will sell for more than one on which the MOT is due. The same goes for Road Tax on the vehicle.
Finally, are there any extras or special features that will interest potential buyers? Does it have an expensive stereo, an alarm system, sat-nav, etc? Remember, customised cars don't necessarily fetch a higher price because they have been customised to your taste, not to the buyer's.
Learn more about this author, Chris Sharp.
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Criteria for establishing a selling price on your used car
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