Would you buy a £16,000 car privately?
Discussion
I have ordered a new car for delivery on 1st March 2014 but unfortunately the part ex value I've been offered is very poor at £12,500 vs cars going for £19000 on Autotrader and Pistonheads. I'm wondering what the best way of selling my current car. I figure I have three options
Mod note: Not sure what the specific details add, unless this is a subtle ad after all.
Auto trader suggested a value of £16250 currently so was thinking of going in below that anyway. What does you all think? I don't want to lose more money than I have to but recognise that if I sell to a garage or similar they need to make a profit too,
- Find a local garage that is interested in buying the car for stock
- Advertise the car privately for sale, but would anyone actually buy a car of that price privately?
- We buy any car
Mod note: Not sure what the specific details add, unless this is a subtle ad after all.
Auto trader suggested a value of £16250 currently so was thinking of going in below that anyway. What does you all think? I don't want to lose more money than I have to but recognise that if I sell to a garage or similar they need to make a profit too,
Edited by Bill on Wednesday 11th December 12:37
I sold my own A6 for £18k privately, so yes it does happen. (It was absolutely mint though, whereas yours sounds a bit "pre-loved".)
If I were buying a car for that sort of money privately I would want complete honesty from the seller so I felt I was walking in with my eyes open. You could make the alloys a negotiating point but accept that someone paying that much for a car will expect it to look very good indeed when they view it. Make an effort to get it polished and waxed before they turn up, just like a dealer would. GLWS
If I were buying a car for that sort of money privately I would want complete honesty from the seller so I felt I was walking in with my eyes open. You could make the alloys a negotiating point but accept that someone paying that much for a car will expect it to look very good indeed when they view it. Make an effort to get it polished and waxed before they turn up, just like a dealer would. GLWS
Yes I would buy privately at that value, in fact I have bought close to that value in the past.
It does feel a bit scary, but buying privately normal saves a couple of ££££, get an HPI check done 1st, thoroughly test drive and inspect the car, job done.
Price it very competitively to get a quick private sale and you should still be quids in over the P/X offer.
It does feel a bit scary, but buying privately normal saves a couple of ££££, get an HPI check done 1st, thoroughly test drive and inspect the car, job done.
Price it very competitively to get a quick private sale and you should still be quids in over the P/X offer.
I bought my Cerbera for £16k privately.
What I would say is that you need to think carefully about payment methods and recognise that the buyer will have his own worries. He may not be comfortable carrying £16k in cash and that needs to be ordered from a bank usually. Similarly, you can't realistically expect completely seller-friendly internet banking either - such as transferring in advance so you see it in your account before handing over the keys. That's great for you but no seller in the right mind is going to wave off £16k electronically without the car, keys and V5c in sight.
I paid cash, FWIW. It was a surprisingly unimpressive bundle of £50 notes. I had an image of a Hollywood style briefcase full of notes, but it was a bit s
t in reality.
ETA you also need to acknowledge that as a private seller you will only get private buyers with that amount of liquid cash in their bank account or someone who can arrange a personal loan in time. Don't be too suspicious if someone wants time - they may not be "tyre kicking" but trying to get a loan paid in to their account. I was quite happy that the seller of mine was a decent guy. I only had about £10k in the bank when I contacted him. Left a £500 deposit and went back a month later once I'd saved up the rest. I appreciated that, and he got a happy buyer.
What I would say is that you need to think carefully about payment methods and recognise that the buyer will have his own worries. He may not be comfortable carrying £16k in cash and that needs to be ordered from a bank usually. Similarly, you can't realistically expect completely seller-friendly internet banking either - such as transferring in advance so you see it in your account before handing over the keys. That's great for you but no seller in the right mind is going to wave off £16k electronically without the car, keys and V5c in sight.
I paid cash, FWIW. It was a surprisingly unimpressive bundle of £50 notes. I had an image of a Hollywood style briefcase full of notes, but it was a bit s
t in reality.ETA you also need to acknowledge that as a private seller you will only get private buyers with that amount of liquid cash in their bank account or someone who can arrange a personal loan in time. Don't be too suspicious if someone wants time - they may not be "tyre kicking" but trying to get a loan paid in to their account. I was quite happy that the seller of mine was a decent guy. I only had about £10k in the bank when I contacted him. Left a £500 deposit and went back a month later once I'd saved up the rest. I appreciated that, and he got a happy buyer.
Edited by jamieduff1981 on Tuesday 10th December 19:58
fjord said:
I've looked at this myself.
Seen some lovely 330/335's that are 2-3k cheaper than a forecourt, but I just cant bring myself to spend that much money on a private sale.
Why not? I've had more grief with cars from dealers than bought privately. My Tuscan was a private seller.Seen some lovely 330/335's that are 2-3k cheaper than a forecourt, but I just cant bring myself to spend that much money on a private sale.
It's the logistics of getting the cash as a buyer and carrying it around and dealing with the cash and carrying it around as the seller that puts me off both sides of the arrangement.
Plus a majority of joe public either:
-can't buy outright so need finance arranging
-rather than a bank loan would prefer to attach the finance to the car as to not prevent them using the potential bank loan for something else. A dealer offers an easier life.
-really can't afford so need extortionate used car PCP from a dealer
-can't be bothered with the hassle to save a few quid but lose peace of mind of a warranty/some form of come back if the car really is a dud. Similar reason people use estate agents to buy houses, it's easier.
That said it is not impossible, just need to find someone who is not adverse to risk. I'd be keeping the Part ex on the table and exhausting my options trying to shift the car privately in the mean time.
Plus a majority of joe public either:
-can't buy outright so need finance arranging
-rather than a bank loan would prefer to attach the finance to the car as to not prevent them using the potential bank loan for something else. A dealer offers an easier life.
-really can't afford so need extortionate used car PCP from a dealer
-can't be bothered with the hassle to save a few quid but lose peace of mind of a warranty/some form of come back if the car really is a dud. Similar reason people use estate agents to buy houses, it's easier.
That said it is not impossible, just need to find someone who is not adverse to risk. I'd be keeping the Part ex on the table and exhausting my options trying to shift the car privately in the mean time.
Guess it depends on the vehicle, I paid nearly 30K for my current toy, bought privately & I even transferred the money electronically the day before I went to collect it. I had been down the weekend before & done the deal & left a couple of hundred quid deposit & done all the checks, the most worrying bit was that I had held back a grand as the seller had promised to sort out a broken mirror & a couple of associated paint chips & carrying that cash on public transport from here to Bristol, secreted on my person made me a bit uncomfortable.
Yes, bought and sold a few times at that sort of level, no problems. I would never expect to deal in cash though, Internet banking with direct transfer. Show buyer your bank statement, I've done that as an indication I had the cash and also a buyer was happy to do the same when I was selling.
You do need to build some trust, always HPI and a postcode Google of seller at least and likely at least a couple of visits (so easier if the car is local) most private individuals really are honest.
As a seller you will be met with scepticism so make sure add is detailed, answers all the questions and the spelling and grammar would pass an examination by your old English teacher !
You do need to build some trust, always HPI and a postcode Google of seller at least and likely at least a couple of visits (so easier if the car is local) most private individuals really are honest.
As a seller you will be met with scepticism so make sure add is detailed, answers all the questions and the spelling and grammar would pass an examination by your old English teacher !
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