Thinking of buying a new van? Not sure what to do with your old one? Honest John Vans has put together some useful tips to make the selling process easier.
Is your van costing you more than it should? Are mechanical faults eating away at your profits or making your van unreliable? Perhaps you need something more modern, with additional loadspace? Whatever the reason, sooner or later, the day will come when you have to sell your van.
Honest John Vans has put together some useful tips to ensuring a straightforward sale and getting the best price for your used commercial vehicle, whether trading-in or selling privately.
Sign in the window
Sometimes the old ways are best. If you work on a large or busy building site, a sign in the window may prove to be the quickest and cheapest method for selling your van (it’s free, after all). Be sure to include your contact number, price of the van and information about the MoT and mileage.
If you choose to sell your van with a sign in the window, it’s wise to prepare the van for sale. Consider paying for any small repairs that may have been on your ‘to do’ list for some time as this will help maintain the price. It is also worth renewing the MoT, if it has less than six months remaining, as a full test certificate will always make the vehicle more desirable compared to those without.
Part-exchange
A part-exchange can be a quick and easy option, if you’re planning to buy a new van from a dealership. But it’s vital that you understand the overall cost. For example, a dealer selling a new van at £25,000 may offer £5,000 for the part-exchange and no discount on the new van, which means the overall cost is £20,000. Another dealer with a similar van may offer a £2,000 discount and a £4,000 part-exchange, which means the overall cost is cheaper at £19,000, despite the fact its trade-in value is less.
Be very well aware of what your existing van is worth. Compare it with similar models of similar age and mileage, which the dealer has up for sale, and don’t accept less than £1,500 or 15 per cent (whichever is the greater) less than the sticker price on these vans.
Selling a van on eBay
eBay is a great place to sell a van, with over 30,000 listings for commercial vehicles. The most important thing is to decide how you want to sell. Sticking with a conventional classified ad is the safest option, but you may wish to put it to auction instead. This can include a ‘Buy It Now’ option and a reserve, so you can protect yourself from the vehicle selling at too low a price.
eBay makes most of its money by taking a slice of the final selling price rather than demanding a large fee up front. This is called the Final Value Fee, and for other goods it is 10 per cent of the item’s final selling price. Happily this is reduced for vehicles, so you pay one per cent of the final value, with a minimum of £25 and a maximum of £45.
Online van buying services
Online van buying services have increased in popularity in recent years, by offering a simple sale route and the promise of a fast transfer of funds. There are lots of companies vying for your van and the process is relatively simply too, with the buyer’s website asking you to type in the registration number of the vehicle and some details of its condition. You then take it to one of the company’s centres to complete the sale.
However, while online buying services are useful for owners who want a fast and simple sale, they tend have a reputation for offering the lower prices. This means you’ll probably get a price that’s much lower compared to selling the van privately.
Dealing with road tax
Remember, it’s no longer possible to sell a van with road tax (also called Vehicle Excise Duty). This means you need to cancel the tax and get a refund for any full calendar months remaining when you sell the vehicle. The DVLA will send a refund or cancel the Direct Debit, if you pay monthly. The new owner will then need to tax the vehicle in their own name.
