E90Post
 


TireRack
 
BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > Regional Forums > UK > Private selling advice sought



Reply
 
Thread Tools Search this Thread
      05-20-2011, 09:56 AM   #1
Jon D
Colonel
 
Jon D's Avatar
 
Drives: F12 640i
Join Date: Sep 2009
Location: Scotland

Posts: 2,567
iTrader: (0)

Private selling advice sought

First off, apologies for this question being non-3 series specific, but there's a much greater UK following here than on the F10 forum.
Having spent the last 10 years of my working life overseas, I'm a bit out of touch regarding private selling. I bought my AUC 1 year old E92 from a BMW dealer in May '09 and traded it in against a new F10 last September.
I knew at the time that, had I sold privately and approached the dealer with 100% cash, I'd have got a much better deal, but I wasn't all that comfortable with the thought of conducting a private sale. It's something I used to do frequently when I was younger, but at 62 one begins to imagine things like a bunch of dodgy characters turning up on your doorstep and disappearing with the car.
I'm now considering another trade-in, this time for an F12, but I won't be in such a hurry and I'd appreciate any advice on the safest way to conduct a private sale.
Many thanks,
Jon D.
Jon D is offline   Scotland
0
Reply With Quote
      05-20-2011, 10:04 AM   #2
xenon
Brigadier General
 
xenon's Avatar
 
Drives: 2013 F10 520d M-Sport
Join Date: Jun 2008
Location: Coventry

Posts: 4,699
iTrader: (0)

Jon.

Two things - cash is not always king these days at the dealer, especially if you have an in-demand car to trade in. Dealers also like to finance (as they get a cut) and there's nothing to stop you paying off the finance in full a month later.

If you do go private then the safe way (especially with the sum you'll be looking at) is to go together to the buyer's bank and witness him do a CHAPS transfer (non reversible) to your account. Give it 15 minutes and go together to your bank and verify the funds are there. Then give him the V5 and keys.

I've done this twice and it's 100% safe and nowhere near as much agg as it sounds.
__________________
Ian
Current: 2013 F10 520d M-Sport, Professional Media, Visibility Pack, Reversing Camera, DAB
Previous: 2011 F10 520d M-Sport, 2008 320i M-Sport Coupe, 2002 325i, 2001 318i valvetronic, 1998 318i, 1996 525i, 1990 Porsche 944S2

Last edited by xenon; 05-20-2011 at 10:11 AM.
xenon is offline   England
0
Reply With Quote
      05-20-2011, 10:04 AM   #3
creepy coupe
Major General
 
creepy coupe's Avatar
 
Drives: M235i
Join Date: Aug 2007
Location: UK

Posts: 8,172
iTrader: (2)

Garage List
2009 335i  [0.00]
Make sure money is via a CHAPS payment, unless the buyer is happy to allow funds to clear in the normal time. I personally would't trust a banker draft.

Or both go to the bank together.

Bugger cross thread with Ian
creepy coupe is offline  
0
Reply With Quote
      05-20-2011, 10:15 AM   #4
scooby-tc
Private First Class
 
scooby-tc's Avatar
 
Drives: 2007 e92 335i
Join Date: Apr 2011
Location: Portsmouth

Posts: 104
iTrader: (0)

I bought my e92 by doing a CHAPS transfer.It was no bother to me as i'd do exactly the same when it came to moving the car on again
__________________
e92 335i|Titanium silver|19" Hyper Black CSLs|evolve remap|miltek exhaust with sport cats|pro nav|voice control|bluetooth + telematics|carbon M3 rear spoiler|xenons
scooby-tc is offline   United Kingdom
0
Reply With Quote
      05-20-2011, 01:20 PM   #5
Sir_Pigley
Captain
 
Sir_Pigley's Avatar
 
Drives: 525d M Sport
Join Date: Sep 2009
Location: Banbury

Posts: 843
iTrader: (0)

Garage List
Send a message via Skype™ to Sir_Pigley
I have sold a number of cars and accepted a bankers draft or building society cheque. To avoid the fraud risk I have asked for a copy of the draft to be sent to me in advance of the car being collected.

Then I have approached the bank branch which issued the draft and checked, using the draft number, whether it was genuinely issued by them. If they confirm the draft is genuine then I've happy to let the car go once I have the original item.
Sir_Pigley is offline   United Kingdom
0
Reply With Quote
      05-21-2011, 01:52 PM   #6
Jon D
Colonel
 
Jon D's Avatar
 
Drives: F12 640i
Join Date: Sep 2009
Location: Scotland

Posts: 2,567
iTrader: (0)

Thanks guys; it wasn't so much the financial side I was worried about, as I'm familiar with CHAPS transfers. It was more the thought of a couple of dodgy geezers not only nicking my car, but casing up my house as well.
With this in mind, I was wondering if there were any alternatives to selling on your doorstep.
Jon D is offline   Scotland
0
Reply With Quote
      05-21-2011, 02:02 PM   #7
davyk31
Brigadier General
 
Drives: Audi SQ5 & Golf GTD
Join Date: Sep 2009
Location: Northern Ireland

Posts: 4,402
iTrader: (0)

I know what you mean, a couple of guys turning up to test drive a car can be a bit concerning. You do tend to get a feel for whether someone is genuine and if you have any doubts don't let them test drive etc.
Problem of course is if your judgement is wrong and you put of a genuine buyer.
davyk31 is offline  
0
Reply With Quote
      05-21-2011, 03:32 PM   #8
ibanezking
Weekend Rockstar
 
ibanezking's Avatar
 
Drives: E92 M3
Join Date: Feb 2010
Location: Leigh, Lancs

Posts: 728
iTrader: (1)

you need to have a couple of sons/nephews/friends there with you who are 6'2" and 18 stone, and have tattooed knuckles.......
__________________
E92 M3 - Interlagos Blue and Black everything else!!!
ibanezking is offline   England
0
Reply With Quote
      05-21-2011, 04:15 PM   #9
m1bjr
LSD - No, you're not seeing things
 
m1bjr's Avatar
 
Drives: RS250 CUP
Join Date: Mar 2010
Location: Somerset UK

Posts: 3,313
iTrader: (4)

Send a message via MSN to m1bjr
Presumably if someone comes to buy a car, there would be two of them.

Or else, how does he get his/her ride back home
__________________
m1bjr is offline   United Kingdom
0
Reply With Quote
      05-21-2011, 05:17 PM   #10
mv57
First Lieutenant
 
mv57's Avatar
 
Drives: E92
Join Date: Feb 2011
Location: London

Posts: 381
iTrader: (0)

Quote:
Originally Posted by creepy coupe View Post
I personally would't trust a banker draft.

Bugger cross thread with Ian
Girlfriend tried to sell her car and received a fake bankers draft. I wouldn't touch either.
__________________
E92 320d M Sport, titanium silver, auto,

E9X Picture game / 5 MPH / double bhp / The Beatles zebra crossing / Gordon Ramsays restaurant / Michelin star /
mv57 is offline  
0
Reply With Quote
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 09:34 PM.




e90post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST