Cars - Sale or Return
Discussion
The reason the buyer doesn`t pay the private seller directly on SOR is because he usually doesn`t know it`s someone elses car. You are also relying on the integrity of the dealer as it is he who is the interface between buyer and seller. If he is intending some underhand ploy then he`ll just take the money and run anyway.
Interestingly when we buy a car in we would rather work a bit harder to be the outright owner. I see it that a car has a value to the trade. At this price you can sell it on within a reasonable timescale, draw a wage, cover your costs and sell the car to the next owner at a sensible price. If you agree to return too much more than that figure then the danger is that the owner of the car is almost bullying you into asking too much for the car. Either it then never sells or if it does you run the danger of not making enough money from it (not that you miserable sods would give a damn !!), and you eventually go out of business. You also run the risk of not having enough in the pot to sort out any problems that may arise with the car. If you want to set up a garage the temptation to stock it with other people`s cars is great. We were patient and although it meant we had to grow steadily it means we are able to pick and choose what comes in. If it looks good value then it stays if not it goes. With SOR you just want to get the car in the yard and ultimately I don`t think that helps the retail buyer / end user.
A little something to look out for : quite often when a garage advertises a car "selling on behalf of a customer" you have to have your wits about you. The car may have a bit of a story and that`s why it`s being singled out from the group stock. Not always but it just makes your ears prick up - make sure your glasses are clean when you go to look at it.
Allan - none of the above or previous email is aimed at you personally, please don`t feel it was ! We are sadly in an industry which has more than it`s fair share of scammers and con men. The potential rewards are great. Does the name reflect your normal selection of vehicles for sale ? Currently looking about getting a Cat C / C+E licence at the moment as I suspect the next toy may require it !!
Henry
Interestingly when we buy a car in we would rather work a bit harder to be the outright owner. I see it that a car has a value to the trade. At this price you can sell it on within a reasonable timescale, draw a wage, cover your costs and sell the car to the next owner at a sensible price. If you agree to return too much more than that figure then the danger is that the owner of the car is almost bullying you into asking too much for the car. Either it then never sells or if it does you run the danger of not making enough money from it (not that you miserable sods would give a damn !!), and you eventually go out of business. You also run the risk of not having enough in the pot to sort out any problems that may arise with the car. If you want to set up a garage the temptation to stock it with other people`s cars is great. We were patient and although it meant we had to grow steadily it means we are able to pick and choose what comes in. If it looks good value then it stays if not it goes. With SOR you just want to get the car in the yard and ultimately I don`t think that helps the retail buyer / end user.
A little something to look out for : quite often when a garage advertises a car "selling on behalf of a customer" you have to have your wits about you. The car may have a bit of a story and that`s why it`s being singled out from the group stock. Not always but it just makes your ears prick up - make sure your glasses are clean when you go to look at it.
Allan - none of the above or previous email is aimed at you personally, please don`t feel it was ! We are sadly in an industry which has more than it`s fair share of scammers and con men. The potential rewards are great. Does the name reflect your normal selection of vehicles for sale ? Currently looking about getting a Cat C / C+E licence at the moment as I suspect the next toy may require it !!
Henry
All
Thanks for all your input, and K996 thanks for your email. I had no idea I would get so much feedback.
Hopefully I'll be able to find a reputable dealer who will offer a genuine SOR. I need to keep as much cash to fund the next 4 wheeled toy
Now on that point, what can you guys recommend for an about to become dad - has to be 4 seats and soft-top, and fast (but not when the baby is on board)
.....
Thanks for all your input, and K996 thanks for your email. I had no idea I would get so much feedback.
Hopefully I'll be able to find a reputable dealer who will offer a genuine SOR. I need to keep as much cash to fund the next 4 wheeled toy
Now on that point, what can you guys recommend for an about to become dad - has to be 4 seats and soft-top, and fast (but not when the baby is on board)
.....Wny not just advertise it privately?
Yes, there is the risk of tyrekickers, testpilots and timewasters - but if you want to keep what could be Henry's margin you have to work for it.
The benefit is that the Porsche marketplace is relatively specialist. A few well placed classified ads in the specialist forums (here, rennlist, titanic, 9m's website etc.) and in Porsche Post etc. could elicit a less cromagnon response than an ad in autotrader. And there's always topmarques if you want to hear the jangle of gold jewellery and smell the unmistakeable aroma of cheap aftershave.
If it doesn't work, you've spent less than 100 GBP and can sell it to a dealer or on SOR. (I would prefer outright sale; some dealers do take the p1ss, but others are merely very realistic and a pleasure to do business with). Henry (911virgin) and Joel (rsj) have both suggested a figure for a car I was selling in the dim and distant past; in the end I sold it privately - but the punter happened to be a dealer and he bought it for roughly the same (fair) figure they both quoted. Maybe ask for a few dealers to bid and see what happens?
Good luck
Dom
Yes, there is the risk of tyrekickers, testpilots and timewasters - but if you want to keep what could be Henry's margin you have to work for it.
The benefit is that the Porsche marketplace is relatively specialist. A few well placed classified ads in the specialist forums (here, rennlist, titanic, 9m's website etc.) and in Porsche Post etc. could elicit a less cromagnon response than an ad in autotrader. And there's always topmarques if you want to hear the jangle of gold jewellery and smell the unmistakeable aroma of cheap aftershave.
If it doesn't work, you've spent less than 100 GBP and can sell it to a dealer or on SOR. (I would prefer outright sale; some dealers do take the p1ss, but others are merely very realistic and a pleasure to do business with). Henry (911virgin) and Joel (rsj) have both suggested a figure for a car I was selling in the dim and distant past; in the end I sold it privately - but the punter happened to be a dealer and he bought it for roughly the same (fair) figure they both quoted. Maybe ask for a few dealers to bid and see what happens?
Good luck
Dom
It depends on exactly what car you have but I think selling a £20/30k plus Porsche privately can be quite hard. I think the private man who buys off the fellow man sometimes think he`s the only man in the world with money and wants the car for nothing, they tend to trawl round the adverts looking for bargains.
The "decent" human being who will pay "proper" money probably buys off a dealer to get some form of assurances. At least with a dealer they know the going rate for a given car and certainly in our case we`re trying to buy the car rather than find reasons for not buying it which can be the case with a lot of private purchasers.
Anyway good luck and keep smiling.
Henry
The "decent" human being who will pay "proper" money probably buys off a dealer to get some form of assurances. At least with a dealer they know the going rate for a given car and certainly in our case we`re trying to buy the car rather than find reasons for not buying it which can be the case with a lot of private purchasers.
Anyway good luck and keep smiling.
Henry
henry-F said:
It depends on exactly what car you have but I think selling a £20/30k plus Porsche privately can be quite hard. I think the private man who buys off the fellow man sometimes think he`s the only man in the world with money and wants the car for nothing, they tend to trawl round the adverts looking for bargains.
The "decent" human being who will pay "proper" money probably buys off a dealer to get some form of assurances. At least with a dealer they know the going rate for a given car and certainly in our case we`re trying to buy the car rather than find reasons for not buying it which can be the case with a lot of private purchasers.
Anyway good luck and keep smiling.
Henry
From my experience of buying and selling Porsches...you have virtually no chance of a private sale on a car above £20k. Henry is absolutely right..I had so many idiots emailing me when I was selling my 996 but as soon as it went to a dealer at a higher price it sold very quickly. This is how the likes of Henry F and et al manage to swan round in Ferarris
SOR simply reduces the pain of loosing money on Porsches...though as per the simple economic principle the higher the risk the higher the reward. Lowest risk route is to sell to a trader and get the lowest price and line their pockets a bit more...SOR has some risks of a trader absconding with your money and/or car and this risk is equally if not more prevelant when selling privately.
I would take my chances with a reputable trader and in fact that is what I have done with mostly good results....but they will always try to add a little bitter pill to the transaction right at the end to squeeze just a bit more profit out of the deal..usually £500 to £1000 in my experience..just stand your ground...
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