Success of Selling Privately?
#1
Intermediate
Thread Starter
Success of Selling Privately?
Is there success of trying to sell 75-80K car privately? I would rather not have to play the trade-in game when buying the next car.
#3
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Join Date: Jan 2013
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Study our Classifieds. Take note of the good ads (great pics, great layout, good writting & wordsmithing, priced right) and mimic those. Take note of the cars sitting and those ads, ask yourself "why" and make those improvemnts to your ad.
#4
Instructor
I am about to list my 2016 GTS. I have an offer from a dealer, but I feel they are low by 10k. Will take Lexvan's advice and list privately and see what happens. Best of luck to you.
#5
I've sold all kinds of cars privately as well as 4 911's. Detailed description, VIN etc. Answer every question and be available to do so. Saying things like 'dont waste my time' and 'low ball offers will be ignored' tells the potential buyer that you're a dick.
#6
Rennlist Member
Yeah selling privately should be fine, I've sold my BMW M6 and other higher value vehicles privately, all turned out OK. Sometime you might have to make a trip with the buyer to their bank where they are doing the financing...(unless they are paying cash.....) takes an extra 1-2 hours but if that's worth selling it for $8-10k more vs trade in then is worth it
#7
I've bought two 911s and a Ferrari privately and have gotten well sorted cars for quite a bit cheaper than the dealer was offering. I tried to sell a Ferrari and it was pure hell. Tons of tire-kickers and people who appeared they just wanted to tell their friends they were looking at Ferraris. One guy said he didn't want to buy the car because he was afraid the glass covering the engine bay would shatter due to the heat. what an idiot. i finally traded it in. got a much lower price but I'm in washington so i could avoid paying sales tax on the trade in value so that essentially added another 8% to net. also got a decent price and some extras on the car i was buying. If you want to make a few thousand more and have the time/energy then do it.
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#8
Rennlist Member
I just sold my 991.2 C2 after advertising it for four weeks. The first person that saw it bought it. Most tire kickers tend to do so electronically now, not in person in my experience. Make sure you have all documentation available to perspective buyers and don't be evasive in answering questions. There's always a buyer out there. GL.
#9
Rennlist Member
So a buyer would have to pay $5.600 more than dealer is offering to make it even money, anything on top is what you make for your time/headache selling.
I've bought and sold cars both ways and will probably go the dealer route for selling most times in the future because of the ease of transaction.
Last week I traded my wifes 4 year old SUV on a newer one and dealer gave me NADA "Clean trade-in" value, $3-4k more than I expected, so it made it a no brainer to me. That vehicle had door dings, small dent in wheel arch, scrapes down one side from trees, rock chips, carried German shepherds for 2 years, curbed wheels, needed an oil change and brakes, was dirty inside and out at time of trade...all things a dealer shop will address for a lot less than most of us can on our own. At the end of day, I figure I could have made $2k more for dealing with all that crap then selling myself for top dollar if I got lucky.
I currently have two older e39 M5's and want to sell one or both and for those type of vehicles I've always sold privately because the trade value is usually horrible compared to actual sale prices.
What are you replacing the car with?
#10
Recommend using Cars.com. In Nov 2017, I listed a 2017 Cayenne GTS (with only 2k miles) for $95k on cars.com and a buyer contacted me from across the country. He flew out, looked at it in person, then contracted a hauler to ship it home. I ended up getting about $92k for the car. I also listed on rennlist and craigslist. No interest from either. I received 10 inquiries in about 2 weeks from cars.com, one of which was the actual buyer. Good luck!
#11
Rennlist Member
All good advice above. My suggestion is to set up an email addy specifically for people to respond to your ad. The amount of nutcases and time-wasters that respond to "for sale" ads is not to be underestimated, and it doesn't stop once the car is no longer for sale. Using a dedicated email addy allows you to delete it or ignore it after the car is gone. You can always direct a serious buyer to your "real" addy once you have vetted him/her.
DaveGee
DaveGee
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rhardcore (07-13-2019)
#12
I’ve sold two very successfully via eBay “as buy it now “ (set price , no auction) both to CA buyers where Porsche prices are higher than in the NE.
NEVER accept a PayPal payment as a buyer who settles PP payments via their linked credit card can claim misrepresentation to their credit card company under Reg Z protections and reverse the payment /force you to take back the car or pay you a fraction of the sales price to “ fix the problems” they are claiming.
Some crooked buyers will even offer you more than asked to get you to release the car and title for a Paypal payment they will “dispute”.
If not sold for cash only accept a nonreversible bank wire , never a “bank check” which can be stopped. If a buyer wants to give you a bank check because they got a loan from their bank and the check is made out to both of you, close the deal at their bank in person (and get the cash) or if they are out of town coming to you, at your bank and to at least have your banker confirm with issuing bank while you are closing there that the check is still good. Requiring them to close in person at your bank will scare off most fraudsters.
NEVER accept a PayPal payment as a buyer who settles PP payments via their linked credit card can claim misrepresentation to their credit card company under Reg Z protections and reverse the payment /force you to take back the car or pay you a fraction of the sales price to “ fix the problems” they are claiming.
Some crooked buyers will even offer you more than asked to get you to release the car and title for a Paypal payment they will “dispute”.
If not sold for cash only accept a nonreversible bank wire , never a “bank check” which can be stopped. If a buyer wants to give you a bank check because they got a loan from their bank and the check is made out to both of you, close the deal at their bank in person (and get the cash) or if they are out of town coming to you, at your bank and to at least have your banker confirm with issuing bank while you are closing there that the check is still good. Requiring them to close in person at your bank will scare off most fraudsters.
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rhardcore (07-13-2019)
#14
Like others have said a good description, walk around and pictures are key.
Personally, I have always traded in. There is always the fear in the back of my mind that selling or buying privately may end up costing me the full price of the car if there is a scam involved. Obviously less or not a concern if buying from a reputable person on rennlist. If I knew someone had 1k posts on Rennlist, was a local PCA member and was a reputable employee at an employer in town based on LinkedIn, I would have no issues.
I doubt most would scam you out of your purchase, but just something that always goes through my mind since I don’t know the entire paperwork process, especially if a loan is involved.
Personally, I have always traded in. There is always the fear in the back of my mind that selling or buying privately may end up costing me the full price of the car if there is a scam involved. Obviously less or not a concern if buying from a reputable person on rennlist. If I knew someone had 1k posts on Rennlist, was a local PCA member and was a reputable employee at an employer in town based on LinkedIn, I would have no issues.
I doubt most would scam you out of your purchase, but just something that always goes through my mind since I don’t know the entire paperwork process, especially if a loan is involved.
#15
I’ve done a few “sell through” deals. Basically I advertise the car privately but the deal gets passed through the dealer as a trade against my new car. The buyer makes the payment to the dealer who assures him a free and clear car. For me I get a a much higher trade in and still benefit from the tax savings of only paying on the difference between trade in value and new car. Sometimes the dealer will want a small Admin fee which I don’t mind and they will usually provide the buyer an “as is” invoice as they don’t want to be responsible for the car. Really it’s win, win for everybody.....except for the wholesaler that didn’t get my pristine trade in!