Time to sell your car and treat yourself to an upgrade?

With interest rates at all time lows, plus a current demand for used cars driving up their prices, more people are finding the idea of upgrading to some brand new wheels very appealing.

Plus, with international travel forced onto the backburner, we're also seeing a rise in enthusiasm for the good old-fashioned road trip to explore what Australia's regions.

As a result, Australians are grabbing the opportunity to treat themselves to a new, more reliable vehicle to make their adventures even more comfortable.

After a lengthy slow period for the car industry, sales of new cars - particularly SUVs - are on the increase. And according to car loan experts Savvy, applications for car loans are up more than 20 per cent.

If you've decided to take advantage of the current situation here are few tips to first get your car sold and then on the road in your new vehicle as quickly and as stress free as possible.

Tips to get the maximum price for your car

When it comes to selling a car the first decision is whether to sell privately or through a dealership.

Right now, with demand for used cars high, your best option to achieve the ultimate price possible is a private sale.

"It's easier at the moment to sell privately because there aren't that many in the market - it's a vendors market," said finance expert and Savvy CEO Bill Tsouvalas.

Your first step to selling your car like a pro to guarantee the best price possible is determining its value. Do your research by looking at the classifieds for similar car listings to yours, or use an online comparison database like Redbook.

If you can, make sure you're selling when there is still registration on the car and have a green slip in place. Ensure your service history documentation is in order.

Just like selling a house, presentation is paramount. Detail the car and fix any broken parts, small dents or scratches.

'You have to out yourself in the buyer's shoes," said Mr Tsouvalas. "Any little thing will give them ammunition to try to negotiate you down. A state of disrepair can give the impression the car hasn't been looked after.

"Spending some time and money fixing small things can be the difference between just making a sale and getting a premium price."

Easing your new car purchase

While you're getting organised selling your old car you can also start the process of buying the new one you've had your eye on. Here are a few tips to get you on the road as soon, and as stress free, as possible.

Ease the process of getting loan approval by first making sure your finances are in order. Take a microscope to your budget and decide how much you can afford for repayments on a car loan plus the added extras that are part the purchase of a new car. Check your credit score.

Take time to do your research for both loans and the car you want.

Comparing loans and being sure you're choosing the best deal can be challenging. While once it was just the big banks to compare, today there are an overwhelming parade of online lenders.

The good news is this explosion has increased market competition and reduced approval times; the downside is the effort required to sort through.

Many people opt to use a car loan broker instead. A broker, like Savvy, has access to a range of lenders to pinpoint the car loan that best suits your needs with the best rate. They will also provide a clearer understanding of the loan details so there are no nasty surprises.

Once you've decided on the vehicle you want, a broker can also take the pain out of locating the best deal. Don't be limited to your local dealerships. A broker effectively puts your business out to tender - you may end up with offers from ten or more dealerships around the country. With the best price located, the broker will help organise the purchase.

Like any big purchase in life, taking your time and getting experts on your side will reap financial - and emotional - rewards.

This story is brought to you by Savvy.