We’ll walk through what to check, how to determine your car value, and the best ways to advertise it. Plus, find out how to transfer ownership of your car in NZ and some common mistakes to avoid when selling a vehicle in NZ.
And if you’re looking to buy a new or used car after your sale but need a little help with your finance options, Instant Finance is here to help! Our team of experienced professionals can help you find the right car loan to fit your needs and budget, so you can get behind the wheel of your dream car in no time. We even have our very own car yard over at Easy Driver.
Prepare your vehicle for sale
Check the condition of your car
Before you put your vehicle up for sale, there are several things you need to check to ensure it's in good condition and ready for a potential buyer. This includes checking the brakes, tires, engine, suspension, and any other components that may affect the vehicle’s value or safety. Check that all the electronics, including the stereo and air conditioning, are working properly.
Ensuring that everything is in working order will help you get the best possible price when selling your car.
Get your car serviced
Another way to give potential buyers extra assurance is to get your car serviced, especially if you haven't done so recently. You may want to get a mechanic to inspect the vehicle and provide a service report that you can share with potential buyers.
Additionally, you should check the car's service history (yes, it’s time to dig out all the old service and WOF receipts) and make sure it's up to date with all necessary repairs and maintenance. This will give potential buyers peace of mind that the car has been well looked after.
Determine the value of the vehicle
Before selling your car, you may be wondering, “What is my car worth in NZ?”. You can do this by using online tools such as TradeMe or Car Price. Simply enter your car’s details and the online tools will provide an estimated value based on market trends and sales data. You can also check out similar cars online to see what price range other sellers have set.
Alternatively, you can consult with a professional appraiser or a dealership like Easy Driver to give you a rough sell price estimate.
With the knowledge attained from the above sources, you can now decide your asking price and the minimum price you’re willing to accept. Keep in mind that there are several factors that can affect the value of your car, including its make and model, age, mileage, condition, and demand in the market.
Best way to sell your car in NZ – Online or Trade-in?
Once you've determined the value of your car, it's time to consider what’s the best way to sell your car in NZ; sell your vehicle online or trade it in at a dealership.
Sell your vehicle online
If you would like to sell your vehicle online, you can list it on websites such as TradeMe and Facebook Marketplace, which allow you to reach a large audience of potential buyers. Selling your car privately can often result in a higher sale price, but it can require more effort compared to a trade-in. You will need to advertise your car effectively, negotiate with potential buyers, and manage the paperwork for the sale.
Here are some handy tips for selling a vehicle in NZ online:
- Provide detailed information about the vehicle, including its make, model, year mileage, and conditions.
- Be honest about the vehicle’s conditions and include a photo to illustrate a scratch or damage.
- Use high-quality images of your vehicle’s interior and exterior.
- Set a realistic price and be prepared for buyers to negotiate.
- Respond to online enquiries and messages promptly.
- Be flexible with test drive & viewing schedules.
- Take safety precautions to protect yourself and the vehicle.
Common mistakes to avoid when selling a vehicle in NZ:
- Overpricing or underpricing your car
- Failing to clean and prepare the car for sale.
- Being inflexible with pricing or negotiations
- Not having the proper paperwork
Once you've found a buyer for your car, negotiated the price, and settled on the payment, now comes the legal question: how to transfer ownership of a car in NZ? In NZ, you must transfer ownership of your vehicle to avoid any legal issues. To do this, you will need to complete a change of ownership form which can be obtained from your local Post Office or online from the NZ Transport Agency. You'll also need to pay a fee to transfer ownership.
Trade-in your car
On the other hand, trading in your vehicle at a dealership like Easy Driver can be a convenient option as the dealership can apply the trade-in value towards the purchase price of the new car. The dealership appraiser will take into consideration all the points mentioned above before giving you their trade-in price – so make sure your car is in working order and looking its best!
If you find you’re still a little short on cash after trading in at a dealership, don’t worry! At Instant Finance, we offer car loans to help you purchase your next vehicle, with competitive interest rates and flexible repayment terms. So, don't hesitate to check out our car loan service or contact your local Instant Finance branch to speak with one of our team members.
Ready to sell your vehicle?
Selling a vehicle in NZ can be a daunting task, but it doesn't have to be! By following our tips and advice, you can set yourself up for a successful sale and potentially even secure a great deal.
Remember, selling a vehicle is just one part of the car-buying process. If you're looking to finance a new or used car, but need a little help with your finance options, Instant Finance is here to help! Our team of experienced professionals can help you find the right car loan to fit your needs and budget, so you hit the road in your fresh new ride in no time.