Selling things to raise cash: what to sell first and how not to get ripped off

What to sell, and in what order

1. Spare items: second car, bike, tools, electronics, collectables, furniture you don't use.
2. Items with ongoing costs: boat, caravan, jet ski, second vehicle (you save insurance, storage and registration too).
3. Investments that can be sold without penalty: shares, managed funds (consider tax and market conditions). Not KiwiSaver; see the KiwiSaver guide.
4. Larger assets (car, home, business) only after advice. Selling in a hurry costs money.

How sale money affects benefits

• Work and Income uses cash and asset limits for some payments. For instance, the Accommodation Supplement cash limit is $8,100 for a single person and $16,200 for a couple (check current limits).
• Advance payments of benefit and some grants have lower limits (an advance is limited to $1,411.22 single and $2,351.46 couple at the time of writing).
• Jobseeker Support itself is mainly income-tested, but your cash and assets can affect extra assistance. Tell Work and Income about sale proceeds when asked. Not telling can lead to overpayments you have to repay.
• Gifting money or assets to family just before applying can be counted. Get advice first.

Selling a car

• Check for finance owing: use the Personal Property Securities Register (ppsr.govt.nz) to check if finance is registered against a car, whether you're buying or selling. A buyer takes on risk if finance is not cleared. Pay out the finance first.
• Get a few valuations (Turners, Trade Me, local dealers) and compare to an online listing price. Dealers pay less but are faster.
• Have a current WoF and registration ready; it helps the sale.
• Notify the sale to NZTA (Waka Kotahi) through the transport registry (use the Sell my vehicle online service) so you're not liable for fines.
• Accept payment safely: bank transfer cleared in your account, not a screenshot or cheque. Don't hand over keys until funds appear.

Selling a home, business or investment property

• Talk to your lender first: they may offer a hardship deal that makes selling unnecessary, or support a sale on your timeline (see the bank hardship guide).
• A planned sale with a licensed agent generally gets better results than a forced sale. Get at least two appraisals and read the agency agreement.
• Ask a lawyer or Community Law about conveyancing costs, early repayment charges and relationship property.
• Consider downsizing or renting out a room before selling.
• A business or tools: get a valuation, and think about the tax impact. See an accountant.

Selling safely online

• Use Trade Me or Facebook Marketplace and meet in public places.
• Beware overpayment scams: a buyer who 'accidentally' pays too much and asks for a refund is a scammer.
• Take photos of what you sell and keep records of the sale.
• Be careful about cash dealers who offer a fraction of the value. Compare offers.
• Pawn only if you can repay; fees are high.