Sale or return?

[The Bumblebee]

Hi, I'm just looking for advice. A dealer has offered me a flat price for my Elise to buy it off me. He has offered another £500 on top of the original price for sale or return. Has anyone had any experience of sale or return? Does it mean I will be left without a car while mine is in the forecourt? Thanks for any advice.

[21TonyK]

IME Yes. The dealer wants possession of the vehicle in order to sell it and you have to sort yourself out with something else. I've only done this when I've bought a new car and the old one was not likely to sell privately.

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The Bumblebee said:

Hi, I'm just looking for advice. A dealer has offered me a flat price for my Elise to buy it off me. He has offered another £500 on top of the original price for sale or return. Has anyone had any experience of sale or return? Does it mean I will be left without a car while mine is in the forecourt? Thanks for any advice.

Exige-S swap perhaps??

[Lawrence5]

Careful. Heard of a guy whose Porsche had sold but dealer had gone bankrupt in the meantime with his funds. He had to get in line with the other creditors

[subaqua]

I agree he will need the car on the forecourt to sell it, so you won't have it.

Not sure what the value of the car is as you don't say the model/age...

For the dealer, the reason he will offer 500 quid more for a sale or return is that he is not havig to finance the car on the forecourt and you are essentially running his risk for him.. if he doesn't get what he wants for the car (more than he is going to pay you), then he can bat it back to you, although I imagine he'd be unlikely to do this if he is selling you a newer/more expensive one.

However, while the car is on his forecourt, you can't drive that one... and presumably, you won't be driving the new one you want either...

If that's the circumstances and I wanted that new car, I know which I'd chose.