Need to sell car just weeks after buying it - advice please!

yorksrabbit

The BMW 3 series is a popular car but needs handling with care as a private sale because of the number of numpty wannabe's out there desperate for what they think is the status of the badge but with nowt in their pockets apart from a benefit cheque.

If you use AutoTrader, then make sure you also use an AutoTrader 'anonymiser' number. And don't -- DON'T -- fall for any 'agency' which offers to sell your car for you: they're all scams.

If you use eBay, make sure your listing has ample photographs -- at least a dozen -- but take further advice on the eBay thread about ad v listing: I've never sold a car of that value on eBay, but have always done well, and met some super eBayers, when I've sold much cheaper vehicles. But they were listings. Not Classified Ads.

If you use the local Press, well. . . be very careful: you might live in a leafy prosperous suburb but that doesn't mean the wheeltappers and punters club won't turn up, as it were, from t'other side of the tracks: we've never used the local Press since an idiot arrived with a Rotweiler and wanted it to go on a test drive with him -- yeah, right. One of 'em had rabies but I wasn't sure which.

As to the 'best' selling period, there aren't any, not unless you're talking about a UK soft-top sale.

The absolute worst period is the first week in January. . . which is when we buy at car supermarkets: their prices are low-ish to begin with (they screw down PXs to auction floor trade levels and then bundle in add-ons you should always refuse) but in January you always get a 'revised' PX price after you've rejected the first one -- a revision we've never seen offered at other times.

So you might take a hit on your sale but claw back some of the lost ground / lost funds by going there, at that time period, after your current car has been sold: you won't have a PX anyway. (Remember though: you don't want 'extras' and tell 'em to go stick their new-style Euro number plates, assuming the car they're selling doesn't have 'em -- you'll be told the new plates are compulsory, but that's a fairly standard car supermarket lie.)

It may also be worth returning to your selling dealer, explain the situation, and ask them if they can source a BMW at the price you want whilst taking your car back into stock and refunding you the difference -- but do take note of JayCee's helpful post: a third-party 'benchmark price' for your car is essential.

Good luck!

deano19690

Knowing the car (and you) can you not take it back to the dealer you got it from and maybe he could get you a cheaper one and refund you the rest..

The winter (xmas time) is a slow time for cars as most people are too busy to be buying new cars or are comfortably wrapped up indoors too even think of it....

Values dip...

But a good time if you have to buy one, you should get more of a bargain

bill53

Thanks for all the good info,

unfortunately webuyanycar valued my car at 16,600 which is ridiculous so thats a no-go.

planeboy - when you part-ex'd your 26k car for a 10k one, did the dealer give you a good offer or was it 1k+ less than the market value? My worry is because its an expensive car they will be even more mean with their offer.

whatcar.com values my car as

Dealer £20,005 Private £19,635 Part exchange £19,270
i would happily take 19,270 for it in a part-ex but can i realistically expect that after owning the car for only a few weeks and being the 2nd owner of a 2-year old car?

Am I making too much of the fact i've only had the car a few weeks, or will dealers/private buyers not be bothered seeing as it has 1 year left on warranty and in mint condition?

sorry for all the questions but i want to squeeze out every penny out of this as i can!

motorguy

bill53 wrote: »

Thanks for all the good info,

unfortunately webuyanycar valued my car at 16,600 which is ridiculous so thats a no-go.

planeboy - when you part-ex'd your 26k car for a 10k one, did the dealer give you a good offer or was it 1k+ less than the market value? My worry is because its an expensive car they will be even more mean with their offer.

whatcar.com values my car as

Dealer £20,005 Private £19,635 Part exchange £19,270
i would happily take 19,270 for it in a part-ex but can i realistically expect that after owning the car for only a few weeks and being the 2nd owner of a 2-year old car?

Am I making too much of the fact i've only had the car a few weeks, or will dealers/private buyers not be bothered seeing as it has 1 year left on warranty and in mint condition?

sorry for all the questions but i want to squeeze out every penny out of this as i can!

I dont understand how you bought the car for just under £20K but expect a dealer to give you £19270 for it?

Realistically a dealer will be expecting a £3-4K gross margin on that car so expect something like £17K from them. I dont think the webuyanycar price was a million miles away, given it was a raw trade price. A dealer may well use a little bit of smoke and mirrors to use some of the profit on the car you are buying to give you the impression of a better price, but realistically it will be a dressed up trade price.

As i said earlier, pick a dealer that has a suitable spread of car prices on their forecourt ranging from what you want to buy at around £10K to £20K+, that way they will be more likely to stock your car rather than trade it on (meaning a worse price for you).

I would suggest trying round a handful of dealers and see who gives you the strongest deal.

Inactive

bill53 wrote: »

unfortunately webuyanycar valued my car at 16,600 which is ridiculous so thats a no-go.

That is an optimistic figure, they probably would not even give you that, once you arrive at their premises.


Why not put in to an auction, that way you will get the best trade price available.

Brooker_Dave

bill53 wrote: »

The problem is my personal circumstances have changed in the last few days and I need to downgrade to free up about £10,000 in funds in the next few weeks/months, so something around half the price would be ideal but what is the best way of going about this without losing much money?

You may not lose any money, used car prices are rising at the moment, and newish cars in particular are in demand, decided which £10k car you want and speak to the appropriate dealers, you may be suprised what deals are out there to be done.

nexuss

I would take it a dealer for a fast transaction as they know they can sell the car quickly as a certain target market loves that kind of car.Obviously you will take a hit but at least you will get the money quickly and would not have to deal with possible scammers who are attracted to that kind of car.

harveybobbles

Used car prices are actually softening now. As we all predicted.

If I was faced with the said car I'd make it a bit cheaper than other ones on the market, just for the fact you've only had it a short time. As this often puts some people off. The only way you will get the highest real price for it is to sell private.

Sososad

JayCee wrote: »

Don't know where you live but try www.webuyanycar.com They are based in Scotland/North of England and do what it says on the tin... they buy any car, from £50 to £100,000.

I sold mine to them last week and got £100 more than the best trade in price. I had traded my wifes car in the week before and they would have offered £30 more than she got for a trade in (£3,700) so they are very accurate. Just go to their web site, put your reg. no. and vehicle condition in and they give you a value right away.

They ask for your phone number, but only use it if you proceed with the sale.

You then take the car to the nearest depot within 7 days and they pay the money into your Bank account by transfer in 2 days, or next day by CHAPS, for an extra £25, if you are desperate.

Be honest with your car description, as they check it thoroughly, even for minor scratches and dents and try to reduce the price, so be prepared to haggle a bit.

Even if it's not for you, it's worth using the site to get an idea of what it's worth.

Just wanted to say Thank you, i didnt think i would get a valuation of that price for our car, thank you.

SSS x