SOR Fees - what is considered reasonable
Discussion
Sold a car a few weeks ago. Rang around 10 dealers. Was quoted anywhere between £1k and £5k, or 1% to 4%, depending on how the dealer wanted to play it. The average came out around £2-3k. A couple of garages offered 30-day purchase-guarantees (dealer buys it at agreed price if not sold within 1 month), but there were some horror stories on forums about it (dealers changing prices), so decided not to go down that route and just went standard SoR.
Anyone who offers SoR for £1k is going to cause both the seller and buyer a huge headache.
The dealer must offer a warranty, and on a car over say £20k a warranty would cost that anyway. So one must presume that they are trading outside the law and selling the cars as a private sale - which then begs the questions why on earth would someone buy a car from said dealer at dealer prices and with zero back up.
The dealer must offer a warranty, and on a car over say £20k a warranty would cost that anyway. So one must presume that they are trading outside the law and selling the cars as a private sale - which then begs the questions why on earth would someone buy a car from said dealer at dealer prices and with zero back up.
Last car I sold SOR was listed at £130k by the dealer. They gave me a figure at the outset that I would get back if it sold at that price. Most buyers haggle so dealers have to then negotiate at both ends to keep their margin and sometimes take a cut as well to keep both parties happy. Biggest problem is you never know what the 'actual' sale price is unless you speak direct with the buyer. Same with estate agents, they play both sides. I bought two BTL houses last week and got £15k off each by talking directly with the vendor. Agent had told me he wouldn't go any lower! Was blushing when we spoke next.
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