What is diminished value?
Have you ever wondered why your car's value takes a hit after an accident - even once it’s been repaired? The answer...
Most car documentation is now digital, but not all of it! It is definitely a smart move to keep any physical paperwork related to car ownership in a safe place at home. We recommend creating a folder and putting all receipts and invoices together, so you have everything on hand when needed. This doesn’t just save you time - meticulous records can also help you to fetch a higher price when selling your car!
But what paperwork do you need to file away? We’ve compiled a list to help you.
Key Takeaways
The V5C (formerly known as the V5) is the most important document you’ll need to sell your car. It’s essentially the registration certificate and proves that you’re the registered keeper of the vehicle. When you sell your car, you’ll need to complete the “sale or transfer” section of the V5C and send it off to the DVLA. Be sure to keep a copy of the V5C for your records!
When selling your car, it’s a good idea to have four receipts on hand:
The receipts should include the date of sale, the price paid, the make and model of the car, and the registration number.
A complete service history can add value to your car when selling it, so it’s worth ensuring you have this information to hand. It includes details of all the services that have been carried out on your car, along with any repairs or replacements. Having a service history can reassure potential buyers that the car has been well-maintained.
Want to know if your car has skeletons in its closet? Use our free car history tool.
When selling your car, you’ll need to provide the buyer with a valid MOT certificate if the car is over three years old. The certificate proves that the car has passed an annual test to ensure it meets road safety and environmental standards.
Not sure when your test is due? Try out our free mot checker.
If your car has been in an accident and repaired through an insurance claim, you’ll need to declare this when selling the car. Make sure you have the paperwork from the repair work and the insurance company to hand.
If you’ve made any significant repairs or replacements on the car, it’s a good idea to keep receipts to prove it. This can include receipts for new tyres, brakes, or a new battery, for example.
Unfortunately, fraud can happen when selling your car, so it’s essential to take precautions. Be wary of any buyers who offer to pay by cheque or ask to use a money transfer service. Always make sure you have received cleared funds before handing over the car.
When meeting potential buyers, make sure you do so in a public place and never invite them to your home. If possible, take someone with you for added safety.
When you sell your car, you’ll need to provide the buyer with a receipt. This should include the date of sale, the price paid, and the make and model of the car. You should also state that the car is sold as seen and that you make no guarantees or warranties.
Make sure you have the V5C, four receipts, service history, MOT certificates, insurance repair paperwork, and parts receipts to hand and your car selling should go nice and smoothly! However, if you’re looking for a hassle-free way to sell your car without dealing with pushy buyers or low-ball offers, Sell 2 Swansway can help! Simply enter your car’s registration number, provide some photos, and we’ll give you a competitive quote. No fuss, no stress. Get a free car valuation now!
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If you’re looking to sell your car before it depreciates too much then get a competitive quote in under 60 seconds with Swansway. With over half a century of experience and nearly 8,000 positive reviews on Trust Pilot, you can trust that selling your car from Swansway is simple, risk-free and competitive.