how do i sell my car

jacklink

hello, i want to sell my car theres nothing wrong with it im just bored with it, i just bought it from the garage 8 weeks ago for £6000, iv £2000 left to pay on it,

when i clear it in about 3 months time and if i decide to sell as a private buyer on autotrader or where ever, does the purchaser pay in full cash ? or cheque or what, how do they pay ?

agrinnall

However you agree with the buyer that they should pay. While both methods you suggest are possible many people wouldn't recommend either (although cash might be more acceptable if the handover takes place in a branch of your bank so you can pay it straight into your account). There's no method that's always ideal for both parties, I was fortunate last time I sold privately (not since 2000) in that both the buyer and I banked with Nationwide so we went into my branch and he transferred the money from his account to mine over the counter.

Nodding_Donkey

Nowadays most internet transfers are virtually instant. A lot safer than cash for large amounts

forgotmyname

Expect to be grilled hard about why your selling so soon and you may need to be sitting down when they make you offers.

Obvious the dealer had a good profit in the car so its going to be worth a LOT less than you paid.

If its showing as having outstanding finance that may put a few people off or lower the offers further.

Paully232000

I sold my car on autotrader a few months ago and the buyer paid in cash on the day he came round to see it.
I guess this could be a risk in that is fake money etc but was fine.
I wouldn't have accepted a cheque and let him take the car away the same day.

I guess the safest way is in branch, or sit in your front room whilst purchaser pays using online banking, assuming both banks utilise the faster payments method and therefore should be instant transfer.

.

iolanthe07

Honestly, getting rid of a car just because you're bored with it after only a couple of months is not a great idea. I have financed a good many car dealer's Caribbean holidays over the years by doing this, which I deeply regret now I'm older and wiser.

facade

Type the reg number into webuyanycardotcom and see what you could get for it, at a guess £4000 if you just payed £6000 for it.

macman

So how did you sell the car you presumably owned until 8 weeks ago? Trade in?