Selling to a dealer

[funbobby]

Anything I need to be aware off ? Not done this before but An independent dealer is offering bit more than wbac and don’t fancy trying to sell it privately. Apart from the obvious money transferred before releasing The car etc anything else I need to be mindful of as it’s quite a chunk of money?

[Muzzer79]

Just do the same checks that you would privately.

To paraphrase Ed Bolian - in a car sale, there are two parties. There is then the money and the car. Each party can only have one of the two items - either the money or the car. Neither party can have both.

[J1990]

I'd recommend trying the Motorway.co.uk - Give them some info they'll give a ballpark figure, click a link on a text they send to your phone and their app guides you through taking aboubt 16 photos of the car from certain angles. They stick it out to their dealer network and they'll have an offer back to you by 3pm.

No cost, no obligation to sell and I pocketed £1800 more than the local dealer offered me and £3k more than WBAC offered me. A chap from prodriver came to collect it and money was in my bank before he left. We'll be using it in a few months to sell our Ioniq as well.

[M12MTR]

Like you say..... just ensure the money is fully cleared and not reversible before you give the car over.

Ensure documents / receipt in order.

[funbobby]

I tried motorway and they offered a little less to be honest.

[J1990]

funbobby said:

I tried motorway and they offered a little less to be honest.

Always worth a try, I imagine it depends on the vehicle and how easily they can find them. I was fortunate to be end up with £300 more than I paid for the car brand new in 2019.

GL on your sale.

[ZX10R NIN]

Expect to be bartered down on the smallest thing but stand firm & you should get your price.

[Mark V GTD]

J1990 said:

I was fortunate to be end up with £300 more than I paid for the car brand new in 2019.

Wow - what kind of car was it?

[funbobby]

Having spoke to the dealer apparently money is transferred on collection, I guess for a sum of say over 30k there is a bit of hanging around waiting for it to go through into account

[CaptainSlow]

ZX10R NIN said:

Expect to be bartered down on the smallest thing but stand firm & you should get your price.

Negotiated down. Bartering is the exchange of goods/services for other goods/services.

[CRA1G]

Any reputable dealer will have a faster payment facility on there account as they will use it regularly so large amounts can be paid within minutes.

[J1990]

Mark V GTD said:

Wow - what kind of car was it?

Hyundai i30N. Between the booster part-ex on my trade in car, 2.5K hyundai loyalty discount and a general discount they had on it I got it for £20,259. Sold with 6k miles via Motorway for £20,599. Appreciate I got it for a ridiculous price upfront but price via Motorway was still a good chunk above WBAC and was trouble free sale.
Dealer turned it around with a sale price of £23k.

[Superleg48]

J1990 said:

Mark V GTD said:

Wow - what kind of car was it?

Hyundai i30N. Between the booster part-ex on my trade in car, 2.5K hyundai loyalty discount and a general discount they had on it I got it for £20,259. Sold with 6k miles via Motorway for £20,599. Appreciate I got it for a ridiculous price upfront but price via Motorway was still a good chunk above WBAC and was trouble free sale.
Dealer turned it around with a sale price of £23k.

So, you didn’t sell it for £300 more than it cost you to buy it then. You did lose money. What you paid in cash is irrelevant in this instance. The car you traded in had a value and you have to factor that in as you lost that value at the point of purchase and formed part of what it cost you to buy the Hyundai.

[J1990]

Superleg48 said:

So, you didn’t sell it for £300 more than it cost you to buy it then. You did lose money. What you paid in cash is irrelevant in this instance. The car you traded in had a value and you have to factor that in as you lost that value at the point of purchase and formed part of what it cost you to buy the Hyundai.

The car I traded in was worth 8k for private sale on AT. While negotiating price they boosted trade-in value to 9k and gave 8k cashback and stated 1k deposit.
I got the full current value of the car in cash, they basically gave a 1k deposit contribution in the form of overvaluing my car.
I got the full value of the car in cash.

[Superleg48]

J1990 said:

Superleg48 said:

So, you didn’t sell it for £300 more than it cost you to buy it then. You did lose money. What you paid in cash is irrelevant in this instance. The car you traded in had a value and you have to factor that in as you lost that value at the point of purchase and formed part of what it cost you to buy the Hyundai.

The car I traded in was worth 8k for private sale on AT. While negotiating price they boosted trade-in value to 9k and gave 8k cashback and stated 1k deposit.
I got the full current value of the car in cash, they basically gave a 1k deposit contribution in the form of overvaluing my car.
I got the full value of the car in cash.

Let me illustrate.

Purchase price of the car - £29k (notional for simplicity)
Your car in P/Ex - £8000
Deposit Contribution - £1000
Balance payable - £20k.

You have just sold it for £20,300.

Ergo, you have lost £7,700 (being the value of your P/Ex less the £300 on top of what you think you paid for it, but didn’t.

If you had sold the car for £29,300 then you would be £300 up.

[J1990]

Superleg48 said:

Let me illustrate.

Purchase price of the car - £29k (notional for simplicity)
Your car in P/Ex - £8000
Deposit Contribution - £1000
Balance payable - £20k.

You have just sold it for £20,300.

Ergo, you have lost £7,700 (being the value of your P/Ex less the £300 on top of what you think you paid for it, but didn’t.

If you had sold the car for £29,300 then you would be £300 up.

The £8,000 for my old car was paid in to my bank account... It wasn't deducted from the sale price of the car.

[Superleg48]

J1990 said:

Superleg48 said:

Let me illustrate.

Purchase price of the car - £29k (notional for simplicity)
Your car in P/Ex - £8000
Deposit Contribution - £1000
Balance payable - £20k.

You have just sold it for £20,300.

Ergo, you have lost £7,700 (being the value of your P/Ex less the £300 on top of what you think you paid for it, but didn’t.

If you had sold the car for £29,300 then you would be £300 up.

The £8,000 for my old car was paid in to my bank account... It wasn't deducted from the sale price of the car.

Ok, then that is an astonishing result and well done to you. My mistake for misunderstanding the original transaction.

[Welshbeef]

Superleg48 said:

Ok, then that is an astonishing result and well done to you. My mistake for misunderstanding the original transaction.

I thought the same as you overlooked deposit costs but jeez that is a total result.

[J1990]

anonymous said:

[redacted]

The fastback has a nicer ride, the hatch is really quite firm so my mrs wasn't a big fan as she's got a knackered back. I had the hatch and really didn't mind the suspension at all, even in the firmest setting.

For the money I just don't think anything gets close to the overall package, sizeable boot, smile inducing exhaust note, full of toys, no optional extras (everything is standard), far less common on the road than the cupra leons, golfs, S3's and I'd choose it again over them. I'll potentially be shunned for saying this on PH but I'd be tempted to get the DCT version as and when it's available, minor facelift comes with the DCT which some prefer and others think has softened the look too much.

Oh and 100k 5 year warranty that includes track use - I never planned to track it but it's a nice level of confidence Hyundai put in to the car.

[david-j8694]

During the used car boom last year, I managed to part-ex a 420d for £500 less than I paid for it 6 months and 10,000 miles prior.

No hiccups from the car either. That was some serious hassle free ownership.