Sell privately or via Dealer on SOR
Discussion
I have a Morgan 4/4 currently at the dealer on SOR.
Now clearly the dealer has to make a margin, offer part-exchange or provide a warranty should he sell the car on my behalf, so he has to add this on top of what I would like to have returned to me - and I have no problem with that but I suspect that this makes my car currently over-priced in the showroom.
The other option is to pull the car back, as he has had no real interest in the last three-months, use it and advertise privately for a £2k - £3k less.
What I'm trying to ask is, if you were looking for a car like this, circa £28k - £31k, would you prefer to buy cheaper from the owner or pay more to buy from a main dealer.
Now clearly the dealer has to make a margin, offer part-exchange or provide a warranty should he sell the car on my behalf, so he has to add this on top of what I would like to have returned to me - and I have no problem with that but I suspect that this makes my car currently over-priced in the showroom.
The other option is to pull the car back, as he has had no real interest in the last three-months, use it and advertise privately for a £2k - £3k less.
What I'm trying to ask is, if you were looking for a car like this, circa £28k - £31k, would you prefer to buy cheaper from the owner or pay more to buy from a main dealer.
depends on the price on the car etc.. on yours as its 30k at dealer, i would need the private to be at least over 5-7k under to make it anywhere worth even considering. the reason is simple and not so much to do with warrenties, but with the money- if i buy off you,i need to pay cash as you cant finance it as you will not have a consumer credit licence, or get a 25k loan from bank which in these times is hard as its unsecured. I therefore have to firstly have £25k knocking around and secondly am willing to tie up all my £25k in a car that will be hard to sell if i need the money. if i go tho the dealer even though its more expensive, he offers warrenties and al dealer securites, plus finance which does not tie up my £25k.
what people do not accept or realise is that only very few buy expensive cars for cash, most are always nearly fianced up meaning it has to9 go throug a dealer.
the above also applies to when people buy expensive cars thinking they ca njust sel lthem to get their money back,--it comes a s big shock nuisance to them to find out they can not sell them pivatley and have to take a hit on the part ex value or dealrer price.
END ANSWER :if you are desperate to sell, i woud just drop the price at the dealers by 2-3k...., or part ex it on your new car, same result is that you will get 3k less, but at leats it done!
what people do not accept or realise is that only very few buy expensive cars for cash, most are always nearly fianced up meaning it has to9 go throug a dealer.
the above also applies to when people buy expensive cars thinking they ca njust sel lthem to get their money back,--it comes a s big shock nuisance to them to find out they can not sell them pivatley and have to take a hit on the part ex value or dealrer price.
END ANSWER :if you are desperate to sell, i woud just drop the price at the dealers by 2-3k...., or part ex it on your new car, same result is that you will get 3k less, but at leats it done!
That's a fair view but, in the past, I have sold Ferrari, Porsche and a Tuscan 2 on this site and without problem, so there are cash buyers out there.
Would you have greater peace of mind buying from a dealer for that extra almost £3,000?
I would guess that most Morgan buyers are more mature and possibly have more cash savings. I may be wrong though.
With a Zetec 1.8 engine and only approaching 6,000 miles use, would this make a difference?
Would you have greater peace of mind buying from a dealer for that extra almost £3,000?
I would guess that most Morgan buyers are more mature and possibly have more cash savings. I may be wrong though.
With a Zetec 1.8 engine and only approaching 6,000 miles use, would this make a difference?
I thought Morgans had a waiting list?
In any event, surely advertising nationally at a competitive price would draw in more buyers? Personally, I always buy privately.
Your dealer should be making money off the finance anyway so should be pricing the car realistically.
The only downside I can see to selling privately is you may ahve to offer an inspection facility given these cars have ash frames and I would want some peace of mind knowing it hadn't been damaged in any way (though presumably if damaged, they get replaced rather than repaired?).
I think the problem is that the market is very slow everywhere for most specialist cars with plenty of cars that used to sell well sitting round as peoople sit on their money or pay off debts.
In any event, surely advertising nationally at a competitive price would draw in more buyers? Personally, I always buy privately.
Your dealer should be making money off the finance anyway so should be pricing the car realistically.
The only downside I can see to selling privately is you may ahve to offer an inspection facility given these cars have ash frames and I would want some peace of mind knowing it hadn't been damaged in any way (though presumably if damaged, they get replaced rather than repaired?).
I think the problem is that the market is very slow everywhere for most specialist cars with plenty of cars that used to sell well sitting round as peoople sit on their money or pay off debts.
Three thoughts from me:
1. you're trying to sell a summer car in the middle of winter. It's no surprise the market is a bit slow. Give it time. Bonus season is just coming up, as is springtime.
2. buyers generally feel happier buying from a dealer. There will be lots of people on PH who say they'd rather buy privately and save a few grand, but most people like the perceived security of buying from a dealer.
3. you don't mention what sort of garage the car is with: a backwater second yard car lot, a specialist dealership, etc etc. SOR works best if you use the right sort of dealership: for a car like yours, it needs to be somewhere with a strong reputation for the marque and / or a strong internet and general market presence in the classic car market.
ETA: apologies that all of that falls into the category of "stating the bleedin' obvious", but there we go...
1. you're trying to sell a summer car in the middle of winter. It's no surprise the market is a bit slow. Give it time. Bonus season is just coming up, as is springtime.
2. buyers generally feel happier buying from a dealer. There will be lots of people on PH who say they'd rather buy privately and save a few grand, but most people like the perceived security of buying from a dealer.
3. you don't mention what sort of garage the car is with: a backwater second yard car lot, a specialist dealership, etc etc. SOR works best if you use the right sort of dealership: for a car like yours, it needs to be somewhere with a strong reputation for the marque and / or a strong internet and general market presence in the classic car market.
ETA: apologies that all of that falls into the category of "stating the bleedin' obvious", but there we go...
Davel said:
I have a Morgan 4/4 currently at the dealer on SOR.
Now clearly the dealer has to make a margin, offer part-exchange or provide a warranty should he sell the car on my behalf, so he has to add this on top of what I would like to have returned to me - and I have no problem with that but I suspect that this makes my car currently over-priced in the showroom.
The other option is to pull the car back, as he has had no real interest in the last three-months, use it and advertise privately for a £2k - £3k less.
What I'm trying to ask is, if you were looking for a car like this, circa £28k - £31k, would you prefer to buy cheaper from the owner or pay more to buy from a main dealer.
Isn't it more about the selling rather than the buying?Now clearly the dealer has to make a margin, offer part-exchange or provide a warranty should he sell the car on my behalf, so he has to add this on top of what I would like to have returned to me - and I have no problem with that but I suspect that this makes my car currently over-priced in the showroom.
The other option is to pull the car back, as he has had no real interest in the last three-months, use it and advertise privately for a £2k - £3k less.
What I'm trying to ask is, if you were looking for a car like this, circa £28k - £31k, would you prefer to buy cheaper from the owner or pay more to buy from a main dealer.
If you don't want to spend time waiting for people to turn up who don't and don't let you know they won't be and you don't want the hassle of people haggling and so forth, get a dealer to sell it on your behalf or trade it in. If you don't mind all this, then sell it yourself privately.
Another thought is contacting all the UK Morgan dealers who may know potential buyers "waiting for the right car" or who may have one suddenly appear and you can then arrange a compromise price where you sell it and the dealer can make a profit for himself.
I may be stereotyping but I see many "traditional" Morgan owners being older and wanting to buy from a local Morgan dealer rather than running round the country.
I may be stereotyping but I see many "traditional" Morgan owners being older and wanting to buy from a local Morgan dealer rather than running round the country.
if its just a case of not to bothered about selling, but would still like to use whilst you wait, why not simply keep the car in your possession and take it to dealer everytime they have a viewing on it. Dealer simply has to state that is by appointment only. (of course you wil loose a couple of viewings , but anyone serious about buying would be prepared to set an appointment!
so long as you live nearby and offer the dealer a couple mor e% commsion when he sells for the extra effort invloved in him having to set appointments , then the problem is solved! you can continue to drive whilst waiting to sell...
so long as you live nearby and offer the dealer a couple mor e% commsion when he sells for the extra effort invloved in him having to set appointments , then the problem is solved! you can continue to drive whilst waiting to sell...
yes it is more effort, but al depends on how much you want to use it.. as i say this is a specilist car and anyone who wants to view it will be serious and will be prepared to wait an extra day or so for it to be brough over and cleaned, if they cant wait then its not worth the vewing anywya and having it sat in the garage.
they will see it on internet, call up to ask about it, dealer will give all details and set appointment, or send them round to your home ti look at it, if they want it it then gets sold through garage
they will see it on internet, call up to ask about it, dealer will give all details and set appointment, or send them round to your home ti look at it, if they want it it then gets sold through garage
Gassing Station | General Gassing | Top of Page | What's New | My Stuff