Minimising motoring costs requires a 'whole of car life' approach.
This involves, buying the appropriate vehicle, sourcing cost effective servicing and repairs, and driving economically.
There is also the frequently overlooked final stage - maximising your profit.
Vehicles actually have four different values:
Main dealer, Independent dealer, Trade-in and Private sale
Trading-in is the most convenient means of disposal but prices are generally low - unless there is a catch.
Dealers sometimes overpay for trade-ins and recoup the cost by overcharging for replacement vehicles.
Motorists wanting maximum profit should therefore sell privately.
The starting point is to establish a realistic 'private sale' value.
Do this by consulting car sales guides and studying the classifieds to see how much similar vehicles sell for. Remember, pricing too high alienates buyers - too low suggests the vehicle is troublesome. Aim to be competitive at a figure which allows for negotiation.
The next stage is vehicle preparation. Clean it thoroughly and repair any minor damage. Small repairs make a big difference but how much you do depends on vehicle class, age, and value.
The final step is to remove personal items which imply your ownership. Buyers prefer a blank canvas.
During the viewing try to establish trust and tick the buyer's boxes. A friendly, honest, and negotiable attitude is the best way to achieve this.
Draw attention to the vehicle's strengths and emphasise any extras included in the deal.
It is also important to give the viewer time alone to think.
Nobody can guarantee a sale, but these simple steps increase the likelihood of a successful outcome.
This article is from our guest writer, Stephen Turvil.