Selling almost new car

ScreamingLordCrutch

Hi all,
Personal circumstances mean that I need to sell my new car and I want to check I've covered the bases.
Was bought from main dealer in September 2020, and it's on 0% HP/PCP which I can pay off in full. Only done 300 miles for obvious (lockdown) reasons. So it's "as new". Paid £13k for it.
So my options are to pay off the loan and sell it back to the dealer, sell it somewhere else, or sell privately. The dealer has made a derisory offer of £6k. 

I've searched for some WBAC alternatives and none are giving what I think is reasonable value, so I think Autotrader will be my best bet. Have I missed any options? 
Also what's the score with selling cars privately - can we do test drives together? Seems unlikely. 

DrEskimo

Keep ringing around different garages, whether it be main dealers (of different manufacturers too) or indie garages and ask if they are interested in buying from you.

Otherwise yes, private sale through AutoTrader is another option. Did you do your homework on what a good discount from new is for your car, using places like CarWow and the like? If not, that could explain the very low offers.

AdrianC

If nowhere is paying what you think is a reasonable price, and everywhere is paying a similar amount, then perhaps the issue is your expectation?

What car are we talking about? Has it been superceded, or is a replacement imminent?

Such a stark difference between your buy price and their buy-back does seem excessive. I wonder what a new or near-new could be bought for...

Few people will be happy buying a near-new car privately - they will want to pay a bit more for the peace of mind of a manufacturer approved-used. Their first question will be "Why won't the dealers buy it back off you?"...

Flight3287462

My uncle died with a brand new car with <500 miles on the clock.  My sister was the executor and it took her months to get rid of the car because she thought the offers were derisory.  In the end it went back to the selling dealer at a not very good price. You are going to take a fairly hefty hit.

Bare in mind many new cars can be bought with upto 25% off (bigger cars tend to have a bigger discount).  Best seals were the end of December and first few weeks in January.  I bought a Pre-Reg (15th Dec) Kamiq with 5 miles on clock for her indoors in the first two weeks of January and got about 25% off.  Discounts on same model are currently about 16%-18%.

If nothing else it may temper your expectations.

What car is it?

PS  As a side note I thought the second hand or demo cars were relatively expensive.

Grumpy_chap

£13k for new car.
At least £2.2k lost as VAT.
Less whatever depreciation.

You may be just as well holding on to the car until you know what "new normal" will be - won't suffer much more depreciation.

jimjames

Are there any trusted local dealers near you? When I was selling a newer car I used a local established dealer who sold the car for me at an agreed price, they didnt buy the car off me so maybe were able to offer a better price as they didnt need to finance it. Could be an option to try if you know any in your area and also avoids the issue with buyers wanting warranty/finance etc with a newer car.

How much are similar nearly new cars up for sale for?

molerat

I suppose a lot depends on where that £13K sits with the new list price of the car. 

My last car was list £30750, PCP price £29250, CarWow price £26000, pre reg 2 weeks old price £20250 so how much would a dealer likely give for that £30750 car after a few months ?

rhino_horn

try Motorway.co.uk.... dealers there bid on cars. A lot of them are going for over book right now

born_again

Hunyani_Flight_825 said:

PS  As a side note I thought the second hand or demo cars were relatively expensive.

6 month old with 3K miles (dealer demo). £9K less than new price. I'm one happy bunny Even got £2K over what Autotrader quoted as value of my P/X

Flight3287462

rhino_horn said:

try Motorway.co.uk.... dealers there bid on cars. A lot of them are going for over book right now

I'm struggling to see why unless it is Brexit related, demand for new cars is through the floor unless your a bored with lockdowns nutter like me.