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2.5m people buy a new car every year,
and another 7.5m buy used. Nearly half that
figure ignore the dealers and opt to trawl through the classifieds
or Internet to find their dream motor. According to research
more than 25% of people will commit to a new car online without
seeing it first.
The reason why so many of us take the road marked “Private”
is because we think we can find a bargain. Not only that,
there is a real, palatable sense that trying to negotiate
with an untrained, unqualified individual is more likely to
result in another £200 off the asking price.
For the majority of us, the minute we walk
onto a dealer’s forecourt we’re on the back foot.
This is his territory, not yours. It’s an alien environment.
At least with Joe Bloggs of 42 Acacia Avenue you can try your
luck.
Similarly, private should be cheaper because
the seller isn’t trying to make a profit like a dealer.
As for the seller, the appeal is an economic
one. Without doubt, a private sale will net a better return
than a part exchange.
For every seller, there is a buyer.
And for every buyer there is a seller. The question
is how do you find each other?
The traditional sales avenue has always been
the local newspaper simply because the vast majority of people
are only willing to travel a few miles to find their new car.
Unfortunately, if you don’t sell it in the first couple
of weeks, it can start to prove costly, as you feel obliged
to book repeat adverts.
The same can be said of classified magazines
like AutoTrader
and Exchange
& Mart, although they do deliver the advantage of
massive circulations, and by default, a better chance of finding
a buyer.
The Internet, however, has established itself
as the number one source for matching sellers with buyers.
Leading the charge are database driven sites like Cardata.co.uk
& Motorchange.co.uk.
Here buyers can register, list their requirements and are
sent email alerts with details of suitable vehicles as the
Motorchange.co.uk
website is updated with suitable matches on a daily basis.
Think dating agency for the motor trade, and you get the idea.
Again, these services can make economic sense.
As opposed to a regular dip into the piggy bank for re-runs
of your advert, databases charge a one-off flat fee and market
your car until it is sold.
Top Tips
There are two golden rules to selling a car
privately. First, and by far the most important, is price.
Don’t be greedy, but be realistic with your asking price
and you’ll have buyers knocking at your door. Secondly,
be patient. With 150,000 people a week looking for a used
car, you are playing a numbers game, and sometimes, it can
take time.
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