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.

[mat205125]

You're weary?

Think how a potential buyer is going to feel when they consider a used M5 from a private seller that has only had the car a very short time ..... All joking aside, it wouldn't be the ideal candidate for me to come and view.

[Dick_Phallus]

mat205125 said:

You're weary?

Think how a potential buyer is going to feel when they consider a used M5 from a private seller that has only had the car a very short time ..... All joking aside, it wouldn't be the ideal candidate for me to come and view.

This. Prepare to take a massive hit on what you paid a month or so ago - so much so that you might like to consider keeping it for 6 months or more, espcially as it's not knackered, it's just 'not for you' right?

Edited by Dick_Phallus on Tuesday 10th August 12:47

[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.

[extvr]

MattVXR87 said:

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.

Are you mental!!

[Dick_Phallus]

MattVXR87 said:

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.

I don't doubt you for a second - but think how this looks to a potential purchaser. I wish you luck with your sale, but I'd suggest you'd be far better off financially hanging on to it for a little bit, especially if you just 'dont like it' which isn't exactly the end of the world (afterall, it's still an M5!)

[shibby!]

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.

[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.

[Rawwr]

What kind of Astra are you after?

[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.

[GKP]

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.

[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?

[oyster]

MattVXR87 said:

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.

Why are you and everyone around you weary?
Do you live near some sort of chemical plant?

[Crusoe]

If it still has warranty and a full dealer service they might be interested if the mileage and condition are good, if it is not then you would be looking at non-approved dealers and specialists though they would likely be looking to pay auction prices. Always try an advert on here first and see what interest you get, might be someone wanting to exchange for something more to your liking that would make selling easier.

[Soovy]

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.

[havoc]

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.

[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.

[Flintstone]

Maybe the power steering's not working properly? Driving around town all day like that could wear a person out.

[havoc]

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.

[5potTurbo]

MattVXR87 said:

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

You don't, the buyer does.
It's an electronic bank-to-bank transfer (Clearing House Automated Payment System) that can be credited same-day to your account.
Make sure your Bank won't charge you some silly admin fee for 'receiving' funds. They shouldn't, but they might try!