How do dealers pay you when buying your car?

lindseykim13

Taking the car i'm wanting to sell to some local dealers tomorrow hoping to get a reasonable offer from one of them. How are they likley to pay up? I want to make sure i don't get a dodgy cheque etc and loose my car what's a safe way of doing it?

[Deleted User]

Cash or Bankers Draft.

Lemonade_Pockets

Depends on the size of the dealer.

If you talking about just a local one man band they may be willing to go to the effort of getting a bankers draft or cash for you. Or they could do a EFT. However cheque would be the normal way of paying.

If its a main dealer then you'll be lucky to get anything other than a cheque. However they may agree to do a EFT.

mluton

Your crazy selling your car to a dealer, why loose so much money.

Your better selling it private or using it as a bargaining tool towards another car.

motorguy

mluton wrote: »

Your crazy selling your car to a dealer, why loose so much money.

Your better selling it private or using it as a bargaining tool towards another car.

Not necessarily so. I'd a 320d BMW to sell last year - had it advertised for weeks with no response. The couple of dealers who had the type of car i wanted to change up to werent terribly interested in my car. So i phoned around a few specialists and got £1000 more AND then was able to negotiate a further £500 of the car i was buying as i had no trade in.

Also, once you break maybe £8K, theres not so many people who will buy a car privately - they'd rather go to a dealer, get trade in facilities, finance, warranty etc.

It does of course depend on the car, but dealers are struggling to get good used cars, so its certainly worth a try.

lindseykim13

mluton wrote: »

Your crazy selling your car to a dealer, why loose so much money.

Your better selling it private or using it as a bargaining tool towards another car.

Thanks but i'm not crazy i only have 2 days insurance to get rid of it, it's only worth about a 1000 p/x in it's cond.
I was offered 750 when buying my current car, i purchased that at a cheaper deal because i opted for cash purchase instead. Hence why i don't mind what i get for it i just want rid as the longer i have it for the more it's going to cost me in temp insurance.

It's going to auction tomorrow if i can't get a deal today and they estimate 800-950 so selling it any way was better than the trade in price and i knocked off 300 from the asking price of my other car 1600 down to 1300.

Oh and selling private is just going to involve more costs and hassle i could do without as it needs work i can't see a private sale being quick and easy.

lindseykim13

Lemonade_Pockets wrote: »

Depends on the size of the dealer.

If you talking about just a local one man band they may be willing to go to the effort of getting a bankers draft or cash for you. Or they could do a EFT. However cheque would be the normal way of paying.

If its a main dealer then you'll be lucky to get anything other than a cheque. However they may agree to do a EFT.

If cheque would i be having to leave the car there and then though or do i wait for it to clear first. I'm being over cautious but say i did that and the cheque bounced etc would i be in a mess then.
Or as long as it's all in writing would i be ok?
Thanks everyone for answering

Lemonade_Pockets

The dealer would require you to leave the car with them as soon as the cheque is handed over.

I would stick to the more mainstream dealers if your worried. They should have their own paperwork for it, but there is nothing to stop you producing a Invoice once you have agreed a price etc. Then if it does get really messy you have some backup.