Prepping a Car for Sale

Our last blog gave an insight into how and where you might be able to sell your prestige car. Today’s piece aims to provide you with all the inside knowledge on prepping your vehicle for sale. Whether through classified ads or on eBay, sticking to our top tips should help you achieve the full value potential of your luxury car.

What Will I Achieve?

Our past blogs have covered the very best in luxury and classic cars. In the process we’ve done our best to predict the cars that could go up in value, of course including those that have set records for their value appreciation.

However, it is common knowledge within this industry that appreciation is rare. The cars we have covered represent just a very small fraction of the used car market. Realistically, you will be lucky if your vehicle’s value holds its value, and are almost never guaranteed to get back more than you paid for it.

Bear this in mind when you sell, using sales of similar vehicles to gauge an achievable price. Also remember that classic cars become rarer as they get older. Time allows models of a certain car to be damaged or even destroyed. The longer you can keep your car in pristine condition, the rarer it becomes and the more chance you have of it appreciating. As a result, you may want to consider a short-term loan if you need access to cash rather than wanting to sell your car.

Top Tips

  1. Take your time: frankly, if you have to sell quickly, you’re not going to get the best price. In this circumstance, a direct to dealership strategy would work best (perhaps you could use dealerbid.co.uk to do this online). However, if you want to get value from your vehicle, specialist loans companies can give you cash within 24 hours of application.
  2. Homework is crucial: we touched upon this in the first section of this article, but knowing your market will help you tremendously: firstly because you can set a realistic price which will entice buyers, secondly because you won’t be deflated when too-high expectations aren’t met, but perhaps most importantly, you will fully understand your vehicle’s worth, giving you great haggling advantage!
  3. Spruce it up: cars that are clean inside and out with no or minor damages are much easier to sell, fact.
  4. Condition is key: spotless used cars with higher-end, hard to find features, can command a lot more money than the more common base models. But more crucial still is condition. Large dealerships often spend £100s per vehicle to get them show-ready. If you can do that for the dealer, you’ll already be in a position to knock off would-be valet costs.
  5. Update your filofax: ensuring all your paperwork is gathered together in a file will show promise to buyers. The more in-depth the service history, and the more transparent you are able to be, the more viable the car to a buyer.

Summary

A lot of what we have touched on in this article might seem fairly obvious, but you’d be surprised how many people neglect the finer details and suffer a big loss on their car as a result. Make sure you put yourself in the best position possible to sell your car. The same also goes for obtaining a loan against a prestige car.

Until next time, Ed Hallinan and the borro team.

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