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Buying a car is an exciting time, but selling it can be a headache.
While most of us just want to sell the car quickly, we also want to get the best price possible.
And since 85 percent of motorists are willing to accept a low offer just to get the process over with, rushing through that sale without equipment could leave you with 50 percent less cash in your pocket.
A survey by independent used car retailer Motorpoint of more than 2,000 UK car owners who have sold or swapped their engine in the last five years has highlighted a key set of things to avoid before selling and which They could affect the sale or reduce the price obtained.
With the new ’24’ plates on sale from March 1, many car owners want to exchange their old tires for new ones.
So, here are the top nine things the experts at Motorpoint want you to look for to save money and time:
1. Two sets of keys
Car key replacement costs around £240, but modern locking and keyless keys can cost over £1000, but trying to sell your car without the spare key can reduce the price by 5-10 percent.
It may seem like a small problem to have only one key. After all, doesn’t it only cost a couple of hundred pounds to replace a key?
But John Hood, managing director of commercial acquisitions at Motorpoint, says that not having both sets, and in particular not having the original key, can make your car much less desirable and, in some cases, impossible to sell.
‘The average cost of replacing a key is around £240, but a new remote or keyless entry key for a modern vehicle could cost more than £1,000.
“However, without both sets of keys, expect to see 5 to 10 percent less for your vehicle,” he says.
According to data from Motorpoint’s Sell Your Car service, drivers who do not have both sets of keys could miss out on up to £1,530 when selling their car.
2. Having 100,000 miles on the clock could cost £3,000
60,000 miles on the clock is the sweet spot before your wheels lose 27 percent in value, but be sure to sell before 100,000 miles in particular.
Recent data from Carwow found that the sweet spot to sell your car is before it reaches 60,000 miles.
On average, cars lose about 27 percent of their value when the odometer reaches 60,000 miles.
Motorpoint adds that while it is a misconception that more than 100,000 miles makes a car less reliable, it does mean that the value of the wheels can lose 20 per cent due to this opinion.
Hood recommends that “motorists sell their vehicles before reaching this mark because, simply put, the lower the mileage, the higher the price they will get for their car.”
3. Removing the modifications could increase the value by £6,000
It’s worth remembering that customizing your car to your specific tastes is great while you’re driving it, but it can make it difficult to sell.
Before modifying a vehicle, Hood advises considering the impact on retail: “Performance improvements, such as changing exhausts, rather than adding value, can lead to reduced sales prices, sometimes by as much as 40 percent, which means you haven’t just spent money. modify your vehicle, but you will also be missing out when it comes to selling it.
“In extreme cases, drivers with modified cars could lose around £6,120 in resale value.”
4.Keep your car as clean as possible
Getting a professional valet before selling your car can help improve first impressions, but keeping your car clean regularly has the biggest impact on retaining value.
A car in poor condition could reduce its value by £1,500, so keeping it clean and in good condition really pays off.
Smoking or having pets in the car regularly could affect the price by 10 percent, according to Motorpoint.
First impressions count, so it’s worth hiring a professional valet, but if you think you can make your car shine inside and out, you can also save around £150 by doing your own valet.
5. Sort out your warning lights or lose up to £4,590
Warning lights can reduce up to 30 percent of your car’s value when you’re looking to sell it.
Don’t be tempted to pass on repair costs during the sale because you will probably lose more money than you would have to spend on repairs.
‘While it depends on the value of your vehicle, the average motorist could expect to see a reduction of up to £4,500 in the value of their car.
“In many cases, it’s actually cheaper to fix the problem before you sell,” Hood recommends.
6. Private plates do not increase the value of your car
Private plates can make you a fortune when sold separately from your car, but they actually reduce the value of your engine if you sell them with the car, since a private plate is considered a modification.
Private plates are hot commodities and some of the most expensive DVLA plates cost hundreds of thousands of pounds.
While private plates may look cool, they are classified as a personal modification to a vehicle.
Any modifications can affect the price of the car and a private number plate could cost between £200 and £300.
John says: “You’ll probably want to keep your private number plate when you sell it, but if for some reason you no longer want it, it’s probably better to sell it separately than with the vehicle.”
“Not only are you likely to get a good price for them, but a personalized plate will not increase the value of your car. In many cases, you will be charged for the trouble and time it would take to return the car to age-related plates.’
7. Tread Depth Matters and Could Cost You
Tire checks are essential for safety and making sure you are not breaking the law while driving.
Whether you use tread depth or the 20p coin check, your car tires must always meet legal requirements.
Monthly tire checks should be part of your car maintenance routine.
But when you sell your car, do a final check of the tires to make sure they meet legal tread depth requirements.
As with repairs, dealers will charge you for the time and trouble of changing tires, so check your tires before handing over the keys.
8. Each scratch or scuff deducts £50 from your valuation.
Every scratch or scuff could reduce the price of your car by £50, so make sure you cover small repair costs before you sell it.
Even minor chips can affect the value of your car. Address any damage to your car before selling it to ensure you take home the full value of the car.
According to experts, motorists could lose up to £50 per scratch on an initial valuation if their car doesn’t meet the conditions you listed, so it’s worth checking.
Most of the time, your auto insurance policy will cover these small repair costs anyway, so shop around at shops to get some quotes for touch-ups and light body paint repairs.
However, it is vital to ensure that the colors and pieces are authentic and match; Otherwise, Motorpoint warns that they could knock thousands of dollars off your offer price if you don’t.
9. Keep up to date with service checks to avoid a £2,000 hit
Falling behind on your car service can reduce the value of your car by 10 to 15 percent, so be sure to book regularly and keep a record of all service history.
It may not seem like a big deal at the time, but falling behind on your car’s service schedule can prove to be a costly mistake when selling your car.
An incomplete service history will reduce the value of your car by 10 to 15 percent, and even more if your car is still within the manufacturer’s warranty period, as this will be voided if you have not been up to date with your services.
Remember that you have every right to go to independent workshops for MOTs and inspection work. Contrary to what many drivers are told or believe, you are not legally required to go to the official dealership.
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