How should I go about it?

WeaverBeaver · 04-30-2016, 04:04 PM

My new car on order is not due until roughly end of August.

I have a part-ex agreed with the dealer on my current car, but thought may be worth trying to beat it by selling privately.

However, 2 issues:

- there is still a decent chunk of finance remaining outstanding which in an ideal world id want the buyer to settle and pay me the difference, but not sure how many buyers would be put off by this?

- I wouldn't want to be left for any period without a car but given time until new car is ready can't imagine any reasonable buyer would want to delay purchase / collection of mine because of this

If any others have been in a similar situation how have you gone about this?

MarkG_M5Comp · 04-30-2016, 04:46 PM

So I've been in this position twice with my wife's car.

What I did both times was advertise it for enough to cover a basic hire car if needed and made it clear in the advert that two payments would be needed.

I had some interest but never sold, traded in eventually.

Unfortunately I fear people are put off.

subsy · 04-30-2016, 05:33 PM

Also been in the situation before , 4 times, and sold privately each time - most recently being a few weeks ago

I always

- waited til 1 month before trade in - so that either a private buyer could potentially wait til the car was available, or worst case I wouldn't need a hire car for long
- never mentioned anything about that in the ad - only on the phone to truly interested potential buyers
- priced the car competitively (cheaper than other similar cars, yet still a fair bit more than I would get via trade in)
- advertise on both autotrader and pistonheads, and one or two forums for enthusiasts of the car I'm selling

WeaverBeaver · 05-01-2016, 03:29 AM

Quote:

Originally Posted by subsy

Also been in the situation before , 4 times, and sold privately each time - most recently being a few weeks ago

I always

- waited til 1 month before trade in - so that either a private buyer could potentially wait til the car was available, or worst case I wouldn't need a hire car for long
- never mentioned anything about that in the ad - only on the phone to truly interested potential buyers
- priced the car competitively (cheaper than other similar cars, yet still a fair bit more than I would get via trade in)
- advertise on both autotrader and pistonheads, and one or two forums for enthusiasts of the car I'm selling

Interesting, cheers. Might try this and see if it sticks. Always got a decent part-ex to fall back on.

Kal101 · 05-02-2016, 04:18 AM

As above. Sold my 320d privately a year or so ago and got a few £k more than the dealer was offering

Advertised 6 weeks beforehand on autotrader and car was sold 2 weeks before new car arrived . Managed to borrow mother in laws car but also had my classic which I could have used.

Just weigh up the differences between dealer price your resale price factoring in advertising hire etc etc.

As regards finance I paid off but let the buyer pay it off on your behalf over the phone so they know the car is clear. If you are buying from Sytners Oldbury I believe in the past they have let people make the call from their premises - just makes it more credible I suppose but depends on your salesman.

As an aside also try Evans Halshaw in Wolverhampton they can give a better price

Good luck with the sale.

DB118D · 05-02-2016, 05:12 AM

A private buyer shouldn't be put off by having to pay your finance co one amount and you the remainder. It would give them peace of mind that the finance is settled and that you're not going to disappear with their cash and have bailiffs appear at their door.

A small car can be hired for not a lot for a couple of weeks if need be. Yes, it's an added expense, but you've got no finance payments to make in between times

xPETEZx · 05-03-2016, 05:30 AM

IDK, personally would never buy a car much over 8-9K private sale.
Having to pay off a finance company would just make me look to the next car.

Have you tried the smaller "we buy an car" companies? (Or even the big ones?)

I found a local company which do a similar service, and sold 2 cars to them. Offered more than WBAC, but less than I may have got private.
Gave me a lift home, and had money in my account before I even got there. (Unlike WBAC where there is a 5 day delay unless you pay for express payment...)

04-30-2016, 04:04 PM	#1
WeaverBeaver Captain 440 Rep 968 Posts Drives: F30 335d xDrive M Sport Join Date: Aug 2015 Location: Birmingham, UK iTrader: (0)	How should I go about it? My new car on order is not due until roughly end of August. I have a part-ex agreed with the dealer on my current car, but thought may be worth trying to beat it by selling privately. However, 2 issues: - there is still a decent chunk of finance remaining outstanding which in an ideal world id want the buyer to settle and pay me the difference, but not sure how many buyers would be put off by this? - I wouldn't want to be left for any period without a car but given time until new car is ready can't imagine any reasonable buyer would want to delay purchase / collection of mine because of this If any others have been in a similar situation how have you gone about this?
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04-30-2016, 04:46 PM	#2
MarkG_M5Comp Supreme Being 1804 Rep 5,425 Posts Drives: M5 Comp Join Date: Jul 2013 Location: Hampshire, UK iTrader: (0)	So I've been in this position twice with my wife's car. What I did both times was advertise it for enough to cover a basic hire car if needed and made it clear in the advert that two payments would be needed. I had some interest but never sold, traded in eventually. Unfortunately I fear people are put off. __________________ Current: F90 M5 Competition Gone: F80 M3 Competition Pack / M135i / F15 X5 M50d / Saab 9-5 Aero HOT / F30 335d xDrive M Sport / E92 LCI 320d M Sport / E46 320d M Sport Touring / E46 318i Touring
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04-30-2016, 05:33 PM	#3
subsy Major 453 Rep 1,163 Posts Drives: 340i F31 Join Date: Jan 2016 Location: Nr Reading, UK iTrader: (0)	Also been in the situation before , 4 times, and sold privately each time - most recently being a few weeks ago I always - waited til 1 month before trade in - so that either a private buyer could potentially wait til the car was available, or worst case I wouldn't need a hire car for long - never mentioned anything about that in the ad - only on the phone to truly interested potential buyers - priced the car competitively (cheaper than other similar cars, yet still a fair bit more than I would get via trade in) - advertise on both autotrader and pistonheads, and one or two forums for enthusiasts of the car I'm selling __________________ F31 340i MG\|CR
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05-02-2016, 04:18 AM	#5
Kal101 Major General 3105 Rep 7,032 Posts Drives: 335xd Msport + Join Date: Jan 2014 Location: West mids!!!! iTrader: (0) Garage List 2015 Bmw msport + 3 ... [0.00]	As above. Sold my 320d privately a year or so ago and got a few £k more than the dealer was offering Advertised 6 weeks beforehand on autotrader and car was sold 2 weeks before new car arrived . Managed to borrow mother in laws car but also had my classic which I could have used. Just weigh up the differences between dealer price your resale price factoring in advertising hire etc etc. As regards finance I paid off but let the buyer pay it off on your behalf over the phone so they know the car is clear. If you are buying from Sytners Oldbury I believe in the past they have let people make the call from their premises - just makes it more credible I suppose but depends on your salesman. As an aside also try Evans Halshaw in Wolverhampton they can give a better price Good luck with the sale. __________________
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05-02-2016, 05:12 AM	#6
DB118D Lieutenant Colonel 1026 Rep 1,671 Posts Drives: 118d Sport Join Date: Oct 2014 Location: Glasgow iTrader: (0)	A private buyer shouldn't be put off by having to pay your finance co one amount and you the remainder. It would give them peace of mind that the finance is settled and that you're not going to disappear with their cash and have bailiffs appear at their door. A small car can be hired for not a lot for a couple of weeks if need be. Yes, it's an added expense, but you've got no finance payments to make in between times
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05-03-2016, 05:30 AM	#7
xPETEZx Captain 46 Rep 663 Posts Drives: Golf R Join Date: Oct 2012 Location: London iTrader: (0)	IDK, personally would never buy a car much over 8-9K private sale. Having to pay off a finance company would just make me look to the next car. Have you tried the smaller "we buy an car" companies? (Or even the big ones?) I found a local company which do a similar service, and sold 2 cars to them. Offered more than WBAC, but less than I may have got private. Gave me a lift home, and had money in my account before I even got there. (Unlike WBAC where there is a 5 day delay unless you pay for express payment...)
	Appreciate 0 Quote