Hi guys, in the next few weeks I hope to take delivery of my new car, and since the dealers were not interested in my p/x I am going to have to sell it private.
So, just a few questions, can I get insurance on my new car as well as my old car whilst I sell it? I have e-mailed my insurance but they have not yet replied.
When I have a punter wanting a test drive, is it unresonable to ask for ID and valid insurance (fully comp)?
When they pay for it, insist on waiting 7 days if its a bankers draft, or if cash, they go with me to the bank to pay it in then hand over keys?
The car is worth £7k if it helps.
James
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Many insurance co's will allow an overlap period so hopefully you'll get an e.mail reply saying yours will.
I'm looking for a 7k-ish car at the moment and would think very carefully if I wanted to continue considering any car where I was refused a test drive (with the owner sitting beside me) because my "driving any car not owned me" cover was tp only. Having said that if I were you I'd weed out the potential buyers by "qualifying" them first and asking for ID (plus to see their ins cert with the driving other cars statement) is quite in order.
I would always bring you cash. I'd be happy to go to the bank for it to be checked/paid in if that was your wish and it fitted my collection arrangements. However if I had to collect outside banking hours I'd expect you to make a judgement and take the cash.
Edited by M.M on 17/11/2009 at 18:37
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i have bank transfer and roll of lino
we deal big yes?
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I've never privately bought or sold a car worth that much. But when selling, I am happy to take the car out for a demo drive, and (just maybe, if the punter looks OK) swop seats for the latter half. There should really be no need for this if the test drive is a long one.
I don't think many buyers would agree to waiting a week for a draft to clear - a bank draft seems the only reasonable option, and you should be able to confirm its validity by phone or at your bank before the buyer departs?
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Have you tried we buy any car dot com.
Will bid you under trade but quick and easy and virtually no risk.
Part of carcraft so their cheques should be ok.
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They pay via CHAPS/BACS electronically into your bank account. 3/4 days wait unless you pay extra for next day payment. Worked perfectly for me, and they didn't mess about with the agreed price on inspection. Just be honest in your on line description!
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They pay via CHAPS/BACS electronically into your bank account. 3/4 days wait unless you pay extra for next day payment.
since the amount is under 10k they can use the faster payment system, immediate if they are in the same bank as you or less than a day if they are a different UK bank.
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phone richard up at motorhouse 2000 in cannock.
they have a website, I cant remember the name of it, but you can go on website, put in details of your car, if you happy with price get yourself to cannock, west midlands, and sell it there and then as long as you are truthful about everything on the face of it, they give you the webprice as stated ! I sold my 07 plate audi a4 convertible, and even got him up £3 !
seriously try them, really good, and no i dont work for them, i am a computer engineer, but have bought a car from them around 15 years ago, and its a pleasurable experiance, NOT like carcraft who IMO are terrible, keep you waiting for hours and will prob give you £2K less than 7K
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If someone is genuinely interested in buying your car they will do as you see fit. If it means letting them wait for a cheque to clear then so be it. If it means asking for their home address and two forms of I.D then do it. Don't be pressured into doing something their way especially if they start getting nasty or aggressive about it. A lot of fraudsters use this as a tactic putting pressure on you to do things their way.
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I have to admin I tried to sell my car privately recently. WeBuyAnyCar gave a fair sort of 'trade in price' but I thought I could do a little better.
After weeks of time wasters (ringing up to ask the colour, when it was stated in the ad etc) I gave up and just part-exed it for the price WBAC offered in the first place!
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i might have said this a few years ago but will repeat it
be very wary if two people come to view and on the test drive get you to leave the drivers seat and walk round,a friend of mine lost a car that way as they drove off into the sunset as mate (mates wife actually) could only stop and gasp
always have the key about your person,its very rare i leave keys with customers unless i feel i can trust them to not be rev-ers or thieves or the worst kind
both
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I thought I'd lost a car I was selling when the buyer shot off in it before I had a chance to get in.
I was in the process of letting all the tyres down on the car he turned up in when he returned.
Oh how we laughed :>(
It took ages with a footpump, but he still bought it.
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Oh ! it was you, you-----er scoundrel.
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I think the payment bit in private sales is really difficult these days. I personally don't like carrying £7K in cash (risk of mugging, risk of forgeries etc). A bank draft (actually a 'corporate cheque') is an irrevocable payment from the bank to the seller, but these days it could be forged and banks won't confirm to the seller by phone that it is genuine (Data Protection!).
If the seller will go with you to the bank, and see the cheque issued by the bank in their name, then they can safety hand over the keys there and then. Not always easy when both of you may be working. As a buyer, I'm not happy to hand over an irrevocable cheque, or make a CHAPS transfer and then have to wait until it clears into the sellers account, in case the seller disappears with both the car and my money!
Does anyone have a better idea, that is equally safe for both buyer and seller?
Edited by dieselfitter on 19/11/2009 at 13:20
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If someone is genuinely interested in buying your car they will do as you see fit (etc.)
This depends how 'saleable' your car is, and how long is the queue of eager buyers. I suggest that the 21st-century car market is usually in the buyer's favour. So if you don't mind whether you sell your car, fine ...
Edited by Andrew-T on 19/11/2009 at 14:40
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Agree with Andrew... the buyer might only go so far to meeting a sellers demands if they look unreasonable or involve too much trouble.
I always think there ends up being an establishment of trust which builds up during the first phone call, the inspection, the test drive, looking at the docs in their kitchen, meeting the Mrs, dog etc. Plenty of chance to walk away on both sides if it doesn't feel right during the process.
I'm probably drawing £6k cash tomorrow am for a couple of possibles and if anyone turns it down because I'm offering after the banks close I will not return on Monday... I'll just move onto the next prospect.
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Some people are happy handling wads of cash, others aren't. And someone insisting on paying £6K in cash, right now or the deal's off, would start the alarm bells ringing with me. This is from HJ's "How to sell a car":
"The best advice when taking cash is to swap the V5 and keys for the cash in a bank so you can bank it safely straight away. Take cash on your doorstep and you won't be the first to receive a little 'cash relieving' visit shortly afterwards by big, nasty men you wouldn't want to argue with or to threaten your children.
However, seriously large amounts of cash ring alarm bells at banks that it might be drug money. So check with your bank the maximum amount of cash it will accept in one transaction."
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Fair enough dieselfitter... at the extreme end of the car dealing spectrum on either side there may be the shady characters but what I mean about the establishment of trust is as the deal builds it will be plain to the seller I'm on the level.... for my part if the seller is iffy I won't go near their car even if it is cheap or otherwise looks OK. I check the seller before the car.
On the flipside I ask enough questions of a buyer on the phone when I'm selling to tell them my car doesn't sound right for them if they sound dodgy.
Looking at it this way weeds out the nuisances.
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