Selling an expensive car privately?

[MattVXR87]

bought an m5 a month ago, but i dont like it, my fault not the cars.

i want to sell it privately, but im weary of how to take payment (none refundable) and letting other people test drive it.

i gather, enforcing they have 1 day insurance for the test drive, and then payment by cheps? the car will be up for sale at 25k.

[MattVXR87]

i dont think its anything to worry about really, the car has no faults, it has original paint and is fully serviced, it wants for nothing.

i have put it up at a good price, if they are weary and go else where, then they will pay more because of their skepticism.

i have realised, you dont need a flashy car to have fun driving. i sharnt make that mistake again, i was just as happy with my astra.

[MattVXR87]

shibby! said:

I know the feeling dude.

Had a few more expensive cars, went to try M3's etc etc. Ended up saving on the finance etc and going to buy another MR2 turbo at a quarter of the price.

However i would think at that type of price it would be harder to sell privately. Those cars are more likely to be traded in and bought from a garage on finance.


I may by wrong, its just my opinion.

Thats my worry. is there a market for cars of this price bought for cash? i could sell it to a dealer, but it would be 3k less than market value.

[MattVXR87]

Rawwr said:

What kind of Astra are you after?

i have a vxr, which i run along side the m5. i have realised, that i enjoy it just as much, so much so, that id prefer to have just the astra with the 25k in the bank.

[MattVXR87]

GKP said:

Is it worth approaching a reputable dealer to see if they'll sell it on your behalf? Obviously you won't get a top price for it that way, but you'll get a touch more than just an outright sale to dealer.

do all dealers buy cars from members of the public, or is it a specialist thing?

[MattVXR87]

Soovy said:

I reckon you'll have a BIG problem getting rid. One month ownership usually means lemon.

I knwo what you mean, I've gone from a 911 to an R32 and love it just as much.

I see what your saying, but any potential buyers are welcome to spend as much time as they like ensuring its not. at the end of the day ill see if someone comes along, i hope so.

havoc said:

I THINK that CHAPS is safe. Although I'd check with someone else first.

Two (I hope) foolproof options:-
1) Cash paid-across into your bank while the buyer waits. As soon as the bank has accepted the cash, it's genuine and it's yours.
2) Bankers draft drawn at their bank in front of you. Can't be forged and can't be drawn with insufficient cleared funds.

how do you go about iniating a chaps payment? both of your suggestions are good thanks.

[MattVXR87]

havoc said:

Buyer does - straightforward request to their bank. Difference between BACS and CHAPS is that CHAPS is (nearly) instant and costs ~£20 to do.

As I say, I THINK it's irreversible (straightforward bank transfer is reversible under some circumstances), but I'd check with someone who knows for sure.

yep just checked, sounds like the way to go. ok next job, find a buyer

[MattVXR87]

PhilipAlfa said:

[quote=MattVXR87Thats my worry. is there a market for cars of this price bought for cash? i could sell it to a dealer, but it would be 3k less than market value.

I would do this - for the sake of 3k you could sell the car tomorrow have the money in your bank and no hassle with purchasers etc. OK 3k is a lot of cash, but compared to the value of the car I think it's a price worth paying.

Will give it a month in the trader before i go for that option.