I will be selling my car to my parents next month. Having looked in the local papers for the prices, I then tried the official online sites & found that they are considerably less than the local average here. My car is a Toyota Corolla 1.3i SE 16v, 1999 with 45,500 on the clock from new. When the garage did it's MOT & heard it was going to be sold they offered to sell it for me if I'd wanted, even though for them it would have been an 'old' car. A 2001 V reg standard Corolla there went for £3600 the previous week, they had people fighting over it & they ended up pushing the price right up! Whilst I realise mine is two years older, Corolla's of my type/age are extremely sought after in this area as they deal well with rural roads, rarely need parts (I've owned it five years, all it's ever needed was a new battery!) & seem to run forever.
How do I work out a fair price without ripping my parents off? I'm surprised at the huge difference in local prices, between £700 & £1000, (this both for private and trade) more than the national guide says. I need the money but also want to be fair as well. Any help on this would be appreciated, especially as it's also quite a delicate situation too! I'm no longer able to drive so need taxi fare money for as many years as possible especially as I live in the middle of nowhere.
Any advice would be gratefully recieved :-)
Cheers :-)
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Sell your car locally for as much as you can get. In the mean time show and assist your parents how to source the same model at the lower price. While you have your car you could even go with them to fetch theirs, or afford to pay for it to be delivered. They will have saved a good amount, you'll have a fatter bank balance, win/win all round.
You then set up in business sourcing the lower priced cars and selling them locally, making an easy £500 on the turn for each sale!
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Go to www.parkers.co.uk and do an online valuation
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Eyes left !
Put the details in Auto Trader and get an idea of the asking prices and take it from there.
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Id say around £1000 would be reasonable - looking at current guide prices, I wouldnt go any lower than that as its an easy car to sell.
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Just because some people are asking higher prices doesn't mean they're achieving them.
I've been looking for a 10-year old Shogun/Pajero at the moment, and the majority on eBay aren't meeting their reserve because people aren't accepting that the value of them has dropped dramatically over the last couple of years. So there is a huge spread of prices in autotrader - but some have been there for weeks and weeks.
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