Selling Cars Privately

[TomcatSi]

Hi All,

First of all I wish everyone on MBF a very Happy Christmas

I am thinking about selling my 2014 C200d AMG Line Premium Plus Estate in 2019.

My question is what are people’s thoughts on selling a £15k+ car privately?

I attempted to sell a 12 month old Audi A6 a couple of years ago but was just inundated with money launderers and/or very suspect sounding stories!

One guy actually turned up at my house with £32k in cash!!!

I could sell my car to Evans Halshaw or another car buying service and I would almost break even in terms of the outstanding finance (plus I know this is all above board and much easier when selling cars with outstanding finance).

Has anyone actually ever sold a car like this privately and successfully? Or should I just stick to PX or Car Buying Service?

Thanks muchly

Si

 

[McDonald]

Hello TomcatSi, I have no experience of selling a car of that value but your tale raised a question.

Did you sell to the 32K cash buyer?
I suppose I'd be concerned that the money was counterfeit and/or that I'd be robbed before I could bank the cash.

 

[Blobcat]

I sold my VW Caravelle privately, it was very popular as I priced it very reasonably and it was in top condition. Sold it to the first person who saw it but he then said he’d lost his job... second person who came did a bank transfer and as soon as I saw the money in my account it was his. Done a few now and not had any issues.

 

[KennyN]

The last time i sold a car privately we went to the bank and did a bank transfer for the balance , if the buyer is genuine then they will have no issues with doing the financial transaction at the bank.

I would be more concerned about the test drive now-a-days as there are regular stories in the press about cars getting "jacked" during the drive. It happened to a private seller close to us a while back.

https://www.eveningtimes.co.uk/news...at-knifepoint-after-trying-to-sell-it-online/

Kenny

 

[John Laidlaw]

I’ve got no desire to sell privately these days, it’s a shame but there are too many sharks and time wasters out there.
Interestingly the Panzer had only an estimated trade in value £500 less than selling privately both RAC and Autocar valuations, if I wasn’t of the mind set already that would have made up my mind. Just not worth it imo

 

[Monday]

Hi All,

First of all I wish everyone on MBF a very Happy Christmas

I am thinking about selling my 2014 C200d AMG Line Premium Plus Estate in 2019.

My question is what are people’s thoughts on selling a £15k+ car privately?

I attempted to sell a 12 month old Audi A6 a couple of years ago but was just inundated with money launderers and/or very suspect sounding stories!

One guy actually turned up at my house with £32k in cash!!!

I could sell my car to Evans Halshaw or another car buying service and I would almost break even in terms of the outstanding finance (plus I know this is all above board and much easier when selling cars with outstanding finance).

Has anyone actually ever sold a car like this privately and successfully? Or should I just stick to PX or Car Buying Service?

Thanks muchly

Si

I think there is resistance to buying privately when the asking price gets into the £12-15k range - buyers like to have some comeback even though they know they are paying through the nose to a dealer.

I have sold several cars privately in the past - the most expensive car I have sold was a 3-4 year old Volvo at £11k but that was some years ago. Recently I have either part exchanged or had PCP's. The opportunities for fraud do seem greater now when it seems even bankers drafts may be forged and the banks seem to let almost anybody set up an account.

It does hurt though when you p/ex a car and see it on the forecourt a week later at a £5-6k mark up.

 

[Blobcat]

It does hurt though when you p/ex a car and see it on the forecourt a week later at a £5-6k mark up.

When I’ve traded I’m not interested at all in how much I’ll get for mine, all I’m
Interested in is what it will cost me to get into the new one. That way I’m not upset when my old one goes onto the forecourt.

I’ve said to dealers I’m not bothered if you only give me £1 for mine it’s how much folding they want from me that I want to know. They try to make it 2 separate transactions and yours is always not in demand and theirs is appreciating in value whilst your sat there. That way they make on both transactions.

 

[malcolm E53 AMG]

I looked at private ads when I bought the BM 3 months or so back but the cars advertised were generally over priced relative to miles/condition/no warranty and the thought of paying £20k+ with no come back put me off. Anything priced at <£5k should sell privately without any problem, I sold a 08 plate Focus prior to the BM purchase privately on AT without any problem at more or less the asking price

 

[TomcatSi]

I think the general consensus is as I thought/planned then. Stick to a PX or car buying place. As long as I break even/only short by a little I’ll be happy

Thanks.

 

[Binnedit]

I could sell my car to Evans Halshaw or another car buying service and I would almost break even in terms of the outstanding finance (plus I know this is all above board and much easier when selling cars with outstanding finance)

A direct bank transfer would be the way to go. Usually only takes a few minutes to arrive, even on a weekend.

However, personally speaking, I wouldn't even view a car with outstanding finance, even if the seller promised to pay the outstanding amount once the purchasers funds have been transferred.

I've known people get stung from Dealerships going bump (mostly in the last recession), who had failed to pay off the outstanding finance on customers part exchanges. The customer then has finance on their new car, and finance still outstanding on the car they have part exchanged. Guess who the finance company chases for the outstanding balance? 'Proper mess.

 

[TomcatSi]

A direct bank transfer would be the way to go. Usually only takes a few minutes to arrive, even on a weekend.

However, personally speaking, I wouldn't even view a car with outstanding finance, even if the seller promised to pay the outstanding amount once the purchasers funds have been transferred.

I've known people get stung from Dealerships going bump (mostly in the last recession), who had failed to pay off the outstanding finance on customers part exchanges. The customer then has finance on their new car, and finance still outstanding on the car they have part exchanged. Guess who the finance company chases for the outstanding balance? 'Proper mess.

Yeah I’ve heard horror stories too, I used Evans Halshaw to buy my A6 and it was beyond easy, took 2 days to go through. I’d never use anything but a well know/reputable car buying place (all one of them lol) to minimise risk.

With the A6 on AT I had a guy who lived in Glasgow who said he was coming to view the car, got a call from his ‘cousin’ in Small Heath who arranged a time and his ‘son’ turned up with £32k in cash 2 days later..... needless to say I told him where to go!

Think I’ll stick with what I know then. I want a brand new motor again and I’m at a point on the finance where I’ll pretty much break even (selling through Evans Halshaw) so thought... may as well

 

[John Laidlaw]

When I’ve traded I’m not interested at all in how much I’ll get for mine, all I’m
Interested in is what it will cost me to get into the new one. That way I’m not upset when my old one goes onto the forecourt.

I’ve said to dealers I’m not bothered if you only give me £1 for mine it’s how much folding they want from me that I want to know. They try to make it 2 separate transactions and yours is always not in demand and theirs is appreciating in value whilst your sat there. That way they make on both transactions.

That’s a good way to look at it, never bothers me particularly if I see my trade in advertised 3k more than they paid for it...their prerogative to make money really since that’s their business

 

[grayb]

We've sold a couple of cars where the buyer has stood in our kitchen and used internet banking to transfer the money to our bank. Very hassle free. One was the Porsche 944T which went to a dealer for £15K, the other a C4 Picasso for £4K to a nice guy from Eastern Europe who wanted something comfortable which would still carry his carpentry tools.

 

[vtaylor78]

I tried to sell a Jag XKR a while back , probably worth 19/20 K.
It was a complete nightmare, after about 3rd time waster I traded it.

 

[steveq]

I have bought my last 8 or 10 cars in the UK (I live in Ireland).
I prefer to buy privately as I get to meet the driver/owner, the car is generally honest and not just tarted up. The higher price from a dealer isn't worth much to me as it would be very difficult to claim on a warranty from Ireland.
All of mine would be 4 to 6 years old so outside of manufacturer's warranty. I have bought a few classic cars in the UK too.
There is an element of trust in any financial transaction from both sides. I used to bring cash but stopped doing that a number of years ago - it is difficult to get sterling here, I wasn't comfortable carrying cash and it was a nuisance for the seller too.
I now do online banking transfers which are better but difficult to control the timing when converting from Euro to Stg. Generally the seller has all the money before I collect the car so the trust aspect is all on my side ?! Anyway it has always worked well (so far).

 

[A.J.]

Hello TomcatSi, I have no experience of selling a car of that value but your tale raised a question.

Did you sell to the 32K cash buyer?
I suppose I'd be concerned that the money was counterfeit and/or that I'd be robbed before I could bank the cash.

I wouldn't take cash under any circumstances anyway. Counterfeit being only one of the issues.

I was a Fleet Disposals Manager for much of my working life, both with Ford Motor Company on the ex-hire car disposals, and following that with a couple of Vehicle Contract Hire companies. I used to tell dealers to go away if they started trying to pay by cash.

One or two of my larger buyers would buy maybe 40, 50 used cars at a time and it was cleared cheque or bank transfer only, even though I had dealt with them for years and knew them like family. It was just such a hassle to take cash and you never felt really safe taking it.

I know we are talking just one vehicle here but the risks remain as real.

 

[Steve@Avantgarde]

Why not ask a good specialist to sale or return it to you as an alternative?

 

[V6Matty]

I sold my peugeot privately at the start of the year on AT, sold within two day with a guy and his dad from Ireland, they brought cash too but were more than happy to go into the bank and do paperwork in there while the cashier counted everything, once the bank has taken the cash and verified (mobey is in your account) it then it's all their problem if it's counterfeit.
Selling privately is a nervracking experience but speak to people and if you get a good feeling then you will be fine