Considering selling up...

[marzman]

Well i'm having a pretty crappy week...

Sweeping changes and potential redundancies announced this week at work mean my job is no longer secure.

I'm probably being over dramatic but i'm feeling like I want to get rid of my car in order to be a bit more secure financially...

I've still got 16 months remaining on my PCP deal. Am i likely to have any problems if I try to sell privately and settle the outstanding balance as part of the sale?

Im hoping to sell for £31-32k-ish... has anyone on here successfully sold a car of similar value privately before, or would a car of this value typically need to go to a dealer to sell (so that i prospective customer can purchase on finance)?

My mind's not made up yet, but i'm definitely having a wobble.

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[Alfa Male]

Sorry to hear the news and hope it works out ok for you

re the car sale the issue you’ll have is people spending that much money will be very nervous buying it privately and will want the security of a dealer backed sale. Also most purchases of that amount will involve finance again something dealers can provide.

So whilst your car is worth that much you may find it hard to sell privately as you’ll be really limiting your seller range.

An alternative is to return it to the finance company but this will not be a good move and will affect your credit rating for sure as they do not look favourably on early terminations.

You may be able to find a dealer will to buy the car off you and clear the finance too. Don’t waste a second of your life speaking to We Buy Any Car they are absolute shysters. They will probably give you £28/£29k, your balance is £26/£27k I’m guessing so you’ll walk away with change in your pocket if you can barter a good deal.

Good luck with the sale if you do decide to sell

 

[maddog1982]

I bought my 2016 GT privately it was also on pcp, I paid that off then sent him the difference. Was dead straight forward but I guess it's easier for people.ro finance these cars, not.everyone I figure has 30k ish lying around.

 

[marzman]

Cheers guys.

Yeah balance £27k, and just checked WBAC and they're offering £28.3k (which i was pleasantly surprised about). I'd never use them anyway but good for a benchmark.

 

[Alfa Male]

Cheers guys.

Yeah balance £27k, and just checked WBAC and they're offering £28.3k (which i was pleasantly surprised about). I'd never use them anyway but good for a benchmark.

Yeah that’s the price they give on the net to get you in then they go over your car with a microscope and knock the price down to a ridiculous figure in the hope that as you’re there and desperate you’ll take it !

I took an immaculate BMW 335i in there a few years ago, for a 7 year old car it was stunning. They knocked £2k off the online valuation after inspection saying that nearly every panel need to be resprayed. I was gobsmacked not least as I had it professionally detailed and ceramic coated when I first got it, and going round the car with him I genuinely couldn’t see the flaws he’s was alleging. At one point he was pointing in the gap behind the rear light housing to a paint defect behind the rear light cluster !! Needless to say a massive argument ensued and I stormed off mid conversation

I genuinely believe they are on commission or under pressure to get the online valuation down as low as possible. Terrible company and I’ll never use or promote them in anyway !

 

[inky5.0]

Sorry to read about your dilemma Chris! It would be interesting to know what a main dealer would offer. I’m guessing that the retail price is around £30K and that they would want a 10% starting margin - I therefore reckon they would offer you around £27K?
Good luck with whatever you decide.

 

[COLD27]

I have struggled in the past trying to privately sell cars in this price bracket for the exact reasons that Alfa has mentioned.

I have had much more success in selling to a local garage who specialise in more interesting cars.

 

[pdavison]

I've sold a number of cars in and around that level with varying success. To be honest the default for most people is to finance so private sales can often be tricky as a result. I've also found more recently the internet means you'll get a lot of people contacting you stating they've found a similar car for £X so will you take £X - Y ... always worth a try though and I'm sure an ad here would mean anyone interested would be serious and less likely to mess you around.

 

[maddog1982]

Are you still thinking the same thing today? If so could you hold out for a few months? Reason being it's a bad time of year to sell, all cars seem cheaper around Christmas plus Ford have the zero percent finance offer too until the end of the year.

 

[Gregs24]

You can sell privately, but you have a fairly small pool of people willing to spend 30k without the legal safeguards of buying from a dealer, especially as your Ford warranty will be running out soon unless you extended it.

When I sold my Lotus Evora recently I sold it on commission through a Lotus dealer which worked brilliantly as I dropped it off, they sold it as if it was their car and I got paid by them once it was sold. I suspect there are less Ford dealers out there likely to do that but worth asking.

However you may be freeing up cash for a situation that doesn't happen so I would hold fire for now ?

 

[Adam83]

@marzman I can give you an accurate valuation (what a dealer will offer) of the car using the same system 99% of dealers use if you want, I’m a vehicle damage assessor so have my own login for it. Just PM me your reg and mileage if you want.

One to remember is the valuations of pretty much any used car goes up slightly around Feb, March, April, and August, September time to entice people into trading in for a new one on the new registration plates.

For example Looking at mine the trade in value goes up £600 in Feb compared to January!

 

[Nevyn]

When I sold my 30k Porsche a few years back I found a specialist to put it in their showroom on sale or return. they got a percentage cut but I still got more than I would from a main dealer for a 10 year old car. Tried selling privately, including through the Pistonheads forum but with no luck.

 

[Charlie Brown]

https://www.evanshalshaw.com/sell-your-car/

I found these to be good

 

[marzman]

Thanks for the responses all. Leaving it with a specialist to sell for a cut isnt a bad shout actually, i might look into that.

@marzman I can give you an accurate valuation (what a dealer will offer) of the car using the same system 99% of dealers use if you want, I’m a vehicle damage assessor so have my own login for it. Just PM me your reg and mileage if you want.

One to remember is the valuations of pretty much any used car goes up slightly around Feb, March, April, and August, September time to entice people into trading in for a new one on the new registration plates.

For example Looking at mine the trade in value goes up £600 in Feb compared to January!

Cheers bud, but dont think i'll be trading it in as im assuming they'd give WBAC equivalent values? Also can you trade in a £30k car for a £3k run around... I've never traded a car in so not sure! Good advise about holding on for a better price after christmas though, i hadnt thought of that.

I've had a couple of days to think, and had plenty of calls off recruiters since i updated my linked in profile to be 'considering my future' so I think i'm going to sit tight for now and try not to think about things until after Christmas. If I do get made redundant I reckon i've got enough cash to tide me over for 3-4 months, and im sure i'd find a job in that time.

Ho hum.

 

[Eclipsar]

I sold my old one through tootle, which sell direct to the trade

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