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Selling cars - any advice?


LymmParent
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Specifically, selling one rather nice car, Chrysler diesel automatic touring 300c in silver, ?27K new, worth around ?9-10K now. It's been given to me in settlement of a business debt. It's no use to me, but it's in nice condition, mileage a bit high at 73000 as it was used for a while as a private hire car to take a little girl to special school. I don't want the thing, but the only other option was write off the debt.....

 

I need to cover my debt, so I can't just send it to auction or go to a dealer. Equally, I need the cash back in my business, so I don't want to wait long. Any suggestions/useful experiences?

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It's an 06 plate. Lovely car, no use to me. Full leather interior, built-in DVD player, 20/22 inch alloys..... I've just had the valuer get back to me and say I could expect ?10-12K private sale, possibly more if I am good at haggling, but I don't really want the hassle of ads and timewasters. Belle Vue auctions with a decent reserve price is shaping up as a nice option. Dealers aren't as bad as I feared, either, they are in the ?9K range, subject to inspections. Just goes against my grain a bit to take ?9K knowing they'll mark it up so much! Suppose I want my bread buttered on both sides really. :wink:

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Sounds reall nice LP.

 

It's mothers day on sunday... I wonder :lol:

 

Whatever you do though DO NOT bother with the likes of webuyanycar.com (local office for round here based at birchwood).... they will really rip you off and you will get thousands below the value that it's actually worth.

 

Auctions can be naff though as many buyers tend to go to grab ex company fleet/lease cars which are often sold well below the usual value due to mileage etc .. so private sales also go lower as there are so many to chose from.

 

?9k from a dealer or auction doesn't sound too bad though if you can get that without the hassle of selling it privately and as you don't know the car it would stop you the embarrasment of any comeback if it turns out to be naff :?

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I ran it through webuyanycar. ?4600. I also ran it through an independent site that just provides guideline prices you should expect to pay for cars. To buy this car from a dealer, the ballpark is ?11,300. Private sale ?10,200. Part ex value ?9200. So they are offering me exactly half the part ex value. That should not be legal. No wonder they can afford the adverts, is it?! :evil:

 

Mothers' Day cars? We can dream..... :lol: I would love to tootle to the shops in the luxury leather seats of a limo-alike. Sadly, keeping it is just not a sensible decision. I'm not even having it on the drive, because there's no point learning to love it. :cry:

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you were lucky that 'We Buy Any Car' offered you so much. They should be banned and are praying on the fact that some people need money quick with same day payments and all that :evil:

 

From the prices you mention and from what they offered me for my car a while ago it seems that they are consistent though in the fact that they are giving 1/2 of the lowest value part ex price and around 1/3 of the lowest value possible resale value on better cars :evil:

 

No wonder they are so keen to arrange immediate payment and a suitable drop off point eh :roll:

 

Anyway I'll work on my other half tomorrow :lol::lol:

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If anyone is considering the quick sale, I also found bestcarbuyer, who made an offer of ?7030. I don't know them, so I can't vouch for them, but apparently they clear the money to your account before they pick up the car from a point of your choice. There may be hidden charges or some other dodge, I declined the offer so I never found out, but it's a lot better than ?4600!

 

Maybe I should work on my other half. If I convinced him he deserved a really nice car, then I would get to drive it at weekends. Mind you, with leather seats and in-car DVD, I suspect it would be more of a gang hut for my lot and have a flat battery every morning! :lol:

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but apparently they clear the money to your account before they pick up the car from a point of your choice.

 

But that is the only way to sell a car...or a verified bank draft....assuming that you don't want to walk around with a "wedge of the readies"...and even some of those can be dodgy now.

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Oooh, thank you all. Gary, I will try him for a ballpark figure next week. I hadn't got as far as looking for local ads... so that's saved me some time, and a recomendation never hurts, does it? If we strike a good deal, I'll come to all Town's home games this season, not just the ones my other half can't make! :wink:

 

Paul & Byrdy, the value of the debt was just over ?9K, but I'm not VAT rated for the business that's owed the money, so I can't claim a bean! I have had it checked out, and there's no finance on it and it's in nice condition, MOT and road tax, although the two front tyres will need replacing in a few months - which I may do to get the best price. It was actually owned by the debtor's wife. They are good people in a bad place and trying to be fair. I believe they are going to squeak through and avoid the Receiver. I got the impression that trading assets to reduce debt was the lifeline. Otherwise, I'd not have agreed. I also wrote off a couple of grand they owed my other company. Otherwise, I'd probably be trying to sell a sofa too! :lol:

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The rules on asset trading for debts differ depending on wether you/they are a Limited Company, Sole Trader etc etc as do those for VAT liability etc.

 

It's all a bit of a minefield and one that I will never pretend to fully understand :?

 

Shame when any business goes down the dark road towards failure though :cry:

 

Sounds like you have pretty much balanced your debt though LP so you are lucky.

 

Ever thought of becoming a nice bailiff LP as at least you seem intent on getting the right and fair value for siezed goods :wink:

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Can't say I had, Dis.... must have missed that one on careers day! :wink:

 

I don't have a clue on the rules. I didn't seize the car, I accepted it when offered as full payment of the bad debt, issued a credit note for the other amount and resigned myself to taking the hit. As it turns out, I may get a bit towards the written off loss. On the plus side, if they do get back on track, I have a lot of goodwill in the bank. Some days, you take your victories where you can! :lol:

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LP,

 

do you know you can buy sets of stickers which replace the Chrysler badges on those cars with a letter "B" to make it look like a Bentley!!

 

They were called the "baby Bentley" when they were launched and I nearly bought one myself but went for the S Class in the end.

 

The 300C is a nice motor but I do like the estate car better as it looks like a car on the PS3 game "Burnout Paradise"

 

Good luck with the sale!

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Oooh, thank you all. Gary, I will try him for a ballpark figure next week. I hadn't got as far as looking for local ads... so that's saved me some time, and a recomendation never hurts, does it? If we strike a good deal, I'll come to all Town's home games this season, not just the ones my other half can't make! :wink:

 

Is your son a member of the barmy army - if so I may have been talking to him yesterday! :shock::wink:

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He's not old enough. He's at that lovely serious age where dignity is all and he would never indulge in frivolity at the hallowed ground during the sacred match. On the days I take him, I get the rules in the car on the way. No shouting at the ref or players, no making stupid girl comments, no mum stuff in public. God forbid I should buy him a drum - he'd leave home! :lol:

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Happy ending! The car people, courtesy of reasonable creditors, reduced their debt overhang to manageable, got themselves sorted out with a sensible rescue loan and have been back to get their car in exchange for payment of the big invoice. Even better, they said as I'd been so nice about it, they'll reinstate the smaller invoice and settle it over six months. Result all round!

 

Thank you all for your help though. Nice to know you're there. :D

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do you know you can buy sets of stickers which replace the Chrysler badges on those cars with a letter "B" to make it look like a Bentley!!

 

 

Rather reminds of the current Golf advert where people are saying that such and such a feature is like a Golf.

 

PS Interestingly of course the Chrysler is based on an old MB E class...as they are all in the same ownership.

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