Selling a car

This really depends on your appetite for selling your car privately and your desire to get the best possible price.

What’s our car worth?

Check other cars of the same make and model and compare condition, total kilometres and price. Apart from the many sites where cars are advertised for sale you can also compare prices at Red Book.

While every car is different and you really need an inspection for an adequate valuation, Red book will provide a price range based on statistics of cars sold privately and through dealers.

Trade in

You can’t expect to get the same for your car as a trade in as you would selling it privately.

Car yards have overheads, they need to provide warranties and they need to make a profit.

If you’re offered a great trade-in deal then consider how much you’re paying for the new car. It’s all about change over. How much will the two transactions cost you in the end?

Unless of course you’re trading a Ferrari for a Scooter in which case you’ll be the one walking away with a cheque!

Selling privately

Be careful to set the right price. Unless you own a rare collectable, cars depreciate and the longer you hold out for the highest possible price the less likely you may be to get it.

However there are steps you can take to maximize your chances.

• Get the right exposure through the websites that suit your area and vehicle
• Give her a thorough clean – you may consider a professional detailer
• Fix any minor scratches or dings
• Take plenty of  quality photos and make sure the light is good
• Write a snappy ad but be honest and straight forward highlighting the car’s best qualities
• Have your log books and service records handy
• Think of the questions you’d ask if you were buying and make sure you know the answers
• Be reasonable about the price and be prepared to negotiate.

You don’t know the people who are coming. All you may have is a name and their mobile number so by all means be friendly but be wary.

Don’t let anyone take you car for a test drive without first getting their license and keeping it while they’re gone.

Negotiating

Most people want to feel they’ve scored a good deal. The best deal for both parties often involves compromise. Hopefully you’ll receive something between your ‘love to get’ price and your ‘prepared to sell’ price.

For the buyer, they’ll be hoping to get it for less than the maximum they’re prepared to pay.

Haggling is a matter for the individual. Some people love it while others would rather just pay the price and get it over with.  Ideally the negotiations will be pleasant for both of you.

Selling

Once you’ve agreed on a price, make sure you either receive a bank cheque or cash. Never accept a personal cheque for a purchase of this size as there’s no guarantee the money is in the account.

Remember:

• sign the registration papers, recording the sale price
• keep the sellers section and notify the RTA (You don’t want to be held responsible for fines for a car you no longer own)
• cancel your comprehensive insurance (you may receive a refund).

Have fun finding your new car.

Hopefully you’ve got the price you wanted. Depending on your circumstances you may have some spare cash or you may already be looking for your new car. Either way we can help.

Car finance: it can take a long time to find the right car. How much petrol it consumes, how well it handles and even how good it looks – there’s so much to weigh up. Once you have found ‘the one’ you’ll want to get the finances out of the way and get behind the wheel as soon as possible. That’s where ANZ comes in. With a choice of secured and unsecured loans, we can tailor a package that suits your needs. Our approval process is fast and easy and that means you’ll be out on the road sooner.

The ANZ Personal finance selector can help you find the right finance options for your new car.

ANZ Loan Protection: help to meet your repayments for your Personal Loan should the unexpected happen¹. If you have loan protection in conjunction with an ANZ Personal Loan, for the term of the loan, you may be entitled to a discount on the interest rate of the loan.

ANZ Car Insurance²: be prepared for those surprises you meet on the road, whether you are on the highway or your own driveway.

An A-Z Review^® with an ANZ Personanl Banker: looking for someone to guide you through your car finance and insurance options? Or do you have some surplus cash and want to make sure you’re earning a competitive rate of interest? Request an A-Z Review^® and one of our Personal Bankers can help explore your options.