Recommendations for Specialists to SOR my Lamborghini
Discussion
I think I am going to Sell or Return my car in the new year.
Im more interested in the trust of the company selling my car rather then the commision. Although I need the commision to be within reasonable bounds of competitiveness.
Does anyone have any experience with any company or individuals that they can recommend?
Im more interested in the trust of the company selling my car rather then the commision. Although I need the commision to be within reasonable bounds of competitiveness.
Does anyone have any experience with any company or individuals that they can recommend?
i would suggest you read the T&Cs very very carefully. My previous experience with SoR was pretty bad and I ended up with going back to dealers with outright sales. I think you are probably aware of this but I would emphasise again here that all the risk stays with you until you get paid. you essentially give the specialist an unsecured loan, who incurs very low upfront cost with a great control of a large amount of money and when/how to pay you.
I do not want to sound too negative about SoR - it has benefits. But do make sure you understand clearly what happens if your car is stolen or damaged while at the shop (average insurance contract does not cover this as it is designed for non commercial purpose); who is responsible for the damage; how and when you will get paid and by how much; the min contract term; your ability to reject a bid without incurring cost to compensate the vendor.
Lastly but not least, what happens if the vendor goes bust. It would be extremely difficult for you to get your car back in short period if the vendor had gone to receivership when it had your car in possession. Before you choose a specialist, go to Companies House and check their financials (cash flow, balance sheet etc). current enviornment is not very good, especially car markets, both new and used. Be very careful before you offer the unsecured loan to a vendor you don't know that much - this is essentially what SoR is. good luck!
I do not want to sound too negative about SoR - it has benefits. But do make sure you understand clearly what happens if your car is stolen or damaged while at the shop (average insurance contract does not cover this as it is designed for non commercial purpose); who is responsible for the damage; how and when you will get paid and by how much; the min contract term; your ability to reject a bid without incurring cost to compensate the vendor.
Lastly but not least, what happens if the vendor goes bust. It would be extremely difficult for you to get your car back in short period if the vendor had gone to receivership when it had your car in possession. Before you choose a specialist, go to Companies House and check their financials (cash flow, balance sheet etc). current enviornment is not very good, especially car markets, both new and used. Be very careful before you offer the unsecured loan to a vendor you don't know that much - this is essentially what SoR is. good luck!
Edited by littletiger on Monday 24th December 23:28
Edited by littletiger on Monday 24th December 23:32
These guys also have a good reputation. Sold a LP-560 for me, made the whole process very easy and were professional throughout.
http://www.motion8cars.com/
http://www.motion8cars.com/
Thanks Pioneer for the tip ! I will put them on my shortlist.
Yes there are lots of scare stories but I think these are not typical of the whole SOR market. Unfortunately your more likely to hear of problems on forums then of good service which is expected and not talked about as much.
I sold a Ferrarui 360 via SOR about 10 years ago. Sold within 48 hours so very happy with that. But the company now had been bought out by another and he is retired.
Nice idea to go to a dealer and see if they can SOR on my behalf. The think is mine has been serviced by specialists so I think they would only want a full dealer serviced car. Might give them a call nonetheless.
I spoke to Rikon Cars and they told me something which may hold true that a London based SOR dealer will have a larger more immediate pool of buyers then a dealer based in York for example. I personally think at this price point people are willing to travel to view a car but they may have a point. I like Rikon cars and their location in Park Lane London. But they have only been around about 6 years and while they are based in a very high market and very secure car park I rather have the car stored in a proper showroom or facility. Just dont like the idea of it being in easy public view considering the price.
Yes there are lots of scare stories but I think these are not typical of the whole SOR market. Unfortunately your more likely to hear of problems on forums then of good service which is expected and not talked about as much.
I sold a Ferrarui 360 via SOR about 10 years ago. Sold within 48 hours so very happy with that. But the company now had been bought out by another and he is retired.
Nice idea to go to a dealer and see if they can SOR on my behalf. The think is mine has been serviced by specialists so I think they would only want a full dealer serviced car. Might give them a call nonetheless.
I spoke to Rikon Cars and they told me something which may hold true that a London based SOR dealer will have a larger more immediate pool of buyers then a dealer based in York for example. I personally think at this price point people are willing to travel to view a car but they may have a point. I like Rikon cars and their location in Park Lane London. But they have only been around about 6 years and while they are based in a very high market and very secure car park I rather have the car stored in a proper showroom or facility. Just dont like the idea of it being in easy public view considering the price.
Vergis said:
Nice idea to go to a dealer and see if they can SOR on my behalf. The think is mine has been serviced by specialists so I think they would only want a full dealer serviced car. Might give them a call nonetheless.
I was going to suggest considering a Main Dealer for SOR, but you may well have a point in them only wanting Main Dealer serviced cars on SOR, as they have to put their name to its provenance.Take a look at Rikon London’s accounts!! I would avoid....they are nothing but a few parking spaces in a London garage and I would never hand them a supercar to sell. The company used to sell used Vertu phones on ebay and then decided to dabble in to car sales.
Edited by W4NTED on Wednesday 26th December 07:56
I've sold on SOR through Slades. They were very good, same commission / fee as mentioned above. No problems with them.
Would echo comments above though, it's a tough time for most of the independent dealers at the moment, not a lot of stock is moving and their overheads will be hammering their cash flow. I'd definitely be going for a long established company with a decent backing.
Would echo comments above though, it's a tough time for most of the independent dealers at the moment, not a lot of stock is moving and their overheads will be hammering their cash flow. I'd definitely be going for a long established company with a decent backing.
Rikon always seem to have some really nice cars for sale and are usually pretty competitively priced so clearly people are trusting them with their SoR's. I guess it also depends how special the Lamborghini is, if it is a limited edition or rare model then perhaps giving it to a specific Lamborghini specialist may be a better bet (VVS, BHP and the like).
Thanks for the tips.
Yes I think I like Autostore. Established , well trusted , professional and good pictures too ! Lets see what their fees are like.
I think I will also contact Slades too.
Without going on about Brexit , as there is another thread dedicated to that and some interesting stuff on it too, I think 2019 will not be an easy year to sell a performance car. But I am willing to sell at a competitive price as I think a bird in the hand is worth more then one in the bush (or for sale!). My plan is to put to car for sale in February.
Yes I think I like Autostore. Established , well trusted , professional and good pictures too ! Lets see what their fees are like.
I think I will also contact Slades too.
Without going on about Brexit , as there is another thread dedicated to that and some interesting stuff on it too, I think 2019 will not be an easy year to sell a performance car. But I am willing to sell at a competitive price as I think a bird in the hand is worth more then one in the bush (or for sale!). My plan is to put to car for sale in February.
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