There’s no doubting the future is now, courtesy of electric cars. Rapidly rising in popularity thanks to the number of players in the market, the development of charging station infrastructure and pushes for positive actions regarding the climate, they have been on the scene for quite some time. Whether you were an early adopter and are looking to upgrade to a newer model or have your sights set on a new ride, we have a few tips on how to sell your electric car.
What is an electric vehicle?
There’s nothing wrong with starting from the beginning, so first let’s talk about what an electric vehicle actually is.
Electric vehicles go by a few names – EVs, electric cars or battery electric vehicles. Whatever you like to call them, their core functionality remains the same. Electric vehicles have an electric motor instead of an internal combustion engine, so its energy source is electricity instead of liquid fuels. This means they don’t emit exhaust fumes and rely on external power supplies to charge their traction battery packs to run.
Legal Requirements
The good news is there is no real legislation than affects how you can sell your electric vehicle. Like all cars, it will require a roadworthy certificate to confirm it is safe to be drive, but one key point of difference is electric vehicles also have labelling requirements.
Because electric (or hydrogen powered) vehicles can pose risks during certain rescue situations, a safety measure was imposed for emergency workers where cars like this must be labelled. These labels are required for any electric vehicle built (or modified) after 1 January 2019. There was a grace period for these labels, but as of 1 January 2022 owners can be fined for not having these labels. So, although these may not directly affect your ability to sell your electric vehicle, it is something you should have and prospective buyers will likely be keeping an eye out for.
Past this, selling an electric vehicle is much the same as selling any other.
Resale value
If you’re looking to sell your electric car, it’s important to do some research into their resale value. Although they are wonderful cars thanks to their low costs and general low maintenance, historically their resale value is not on an upwards trajectory. We don’t want you to panic about it, but we do want you to be aware.
All cars depreciate over time, and you need to take factors such as condition, mileage, brand, availability, and model into consideration when you plan to sell. The important thing to keep in mind when you consider electric cars resale values is that their popularity has meant there are probably more (and newer) models on the market than when you bought yours. There have also been advancements in battery technology too, so it’s as much about the parts in your car as much as how it has been looked after.
It’s not all doom and gloom though, when compared to petrol or diesel cars, electric cars resale value tends to hold up pretty well. It’s all about finding the right buyer and selling at the right time. If you’re interested in selling but don’t know how to guarantee a good deal, reach out to our team here at Cars Brisbane for a free quote – we’d be happy to take you electric car off your hands, freeing you up to make your next purchase.
The Process of Selling an Electric Car
Electric car sales in Australia are not uncommon, but like selling anything, there is an art to sales.
Having gone through the basics, let’s get into the process of selling a car. The good news is, it remains much the same, regardless of if it’s a diesel or electric vehicle.
Putting Your Best Foot Forward
The first step is always making sure the car is in good condition. A bit of TLC in the form of a clean both internally and externally, plus a polish for any scratches you may have is a simple way to make your car look impressive – don’t forget, first impressions always matter. It also makes it easier to take good photographs of the car to add to your advertisement or listing, depending on your chosen sale method.
Correct Paperwork
Step two should involve proof your vehicle is legal and roadworthy, so having an official inspection done is a must. Having paperwork in order is a key part of selling a vehicle.
Choosing a Selling Price
Deciding on a price. As we’ve discussed, electric car resale values are tumultuous to say the least, so determining your asking price can take a bit of research and self-reflection. Getting a professional valuation is a good idea too or looking for listings of similar vehicles to get a feel for where the market is. From there, you should have everything you need to advertise your electric car for sale.
Making The Sale
After that, it’s a case of weeding out genuine buyers from timewasters and organising inspections, haggling over the price and ideally making the sale at a price you’re happy with that. After all of that, it’s a trip to the department of transportation to make things official.
Or, Talk To Experts on Electric Car Sales in Australia
Of course when selling anything online to a stranger it can be hard to know if your asking price is correct, and if the transaction will go as planned. So, if selling your electric car seems overwhelming or daunting, skip doing the hard work yourself and come talk to us at Cars Brisbane. With experience up our sleeve in electric car sales in Australia, we can certainly help ensure the process goes smoothly for you.
Contact us at Cars Brisbane today for a free quote or to get more information on how we work. We’d be happy to help take the pressure off your electric car sale!
