|
|
|
|
|
|
BMW Garage | BMW Meets | Register | Search | Today's Posts | Mark Forums Read |
|
BMW 3-Series (E90 E92) Forum
>
How to sell cars privately?
|
|
02-28-2008, 10:16 PM | #1 |
QuickShifter
137
Rep 1,500
Posts |
How to sell cars privately?
As title says....
i'm trying to sell my gti privately, becuase the dealer is quoting me a pretty ridiculous price my question is...how is it done basically? anything i need to be aware of? also, because i'm still financiing on the gti, is it possible if i change the name for the car to the buyer, and have him continue financing it? will he need to pay tax then? this is my first time selling a car by myself, usually i just trade in with the dealer so some help is appreciated.. |
02-29-2008, 12:07 PM | #2 |
Second Lieutenant
6
Rep 297
Posts |
1. Tell all your friends that the car is for sale. This is the cheapest form of advertising.
2. If #1 doesn't work, advertise it in Auto-trader, or someplace similar 3. Clean it very well, especially the interior. 4. Take it to a garage to find out what it would cost for a safety check, but don't get the certificate yet. The cert. is only good for 30 days, and you don't want to have to do the check twice. But once you know the $ involved, you can advertise the car safety check included. 5. You will probably get twice what the dealer offered for it. good luck |
Appreciate
0
|
02-29-2008, 12:22 PM | #3 |
Second Lieutenant
6
Rep 297
Posts |
I forgot a few thing.
You don't have to collect any tax, but the buyer will have to pay PST when he registers the car. Don't take an ordinary cheque from anyone you don't know, and be suspicious of even certified cheques. Cash is best. Do not give the buyer your plates. Insist he puts his own plates on the car. Don't forget to cancel the insurance the moment the car is sold. Make sure the bill of sale records the actual price. Writing a phoney price on the bill to lover the sales tax is being a party to defrauding the Govt, and you don't want to be involved if the buyer gets caught. |
Appreciate
0
|
02-29-2008, 09:35 PM | #4 | |
QuickShifter
137
Rep 1,500
Posts |
Quote:
and does my "finance-takeover" plan work? |
|
Appreciate
0
|
03-01-2008, 04:39 PM | #5 |
Second Lieutenant
6
Rep 297
Posts |
You would have to talk to the finance company about that. They would probably want to approve the buyer
|
Appreciate
0
|
03-01-2008, 04:44 PM | #6 |
Private First Class
44
Rep 187
Posts |
Go to vehicle licensing office and get the 'Used Vehicle Information Package' - it has bill of sale info, vehicle registration history and tells you what you need to know - I think it costs $20 - you have to provide it for the buyer anyway. You may also have to do an emissions test if not done within 1-year.
|
Appreciate
0
|
03-01-2008, 10:36 PM | #7 |
Captain
55
Rep 661
Posts |
Craigslist is really effective. http://vancouver.craigslist.ca/car/
I sold my car last summer and and used buy&sell and craigslist, and found that most of the people who called me came through craigslist. Another tip is to make sure you get a certified cheque from the seller |
Appreciate
0
|
03-01-2008, 10:52 PM | #8 | |
Major
52
Rep 1,436
Posts |
Quote:
mine is something like this.... On (date) (time), the (owner's name) and (the buyers name) has agreed on the price of (total car price) for the (vehicle year, model, series) .. The buyer must place an (deposit amount *best to use cash) within the next 24 hours in order to purchase this vehicle. Both the owner and buyer have agreed on the condition of the car and history report (usual i write down anything that is wrong with the car that the buyer has accepted ... eg. scratch on bumper). (buyer signature, driver license number, and contact number) (owners name and number) This way, it will allow you to have a smooth transaction, and all less chance of teh buyer backing out last minute.
__________________
ZSP susp//18's 550i reps//blacklines/aftermarket grill//
|
|
Appreciate
0
|
03-01-2008, 11:03 PM | #9 | |
Captain
55
Rep 661
Posts |
Quote:
My recommendation is once you accept an offer from a buyer, have the person meet you at an ICBC broker with a certified cheque and complete the transfer of ownership there. Here's a link to the section of ICBC's website with tips on selling your car: http://www.icbc.com/buy_car/ |
|
Appreciate
0
|
03-01-2008, 11:17 PM | #10 |
Major
52
Rep 1,436
Posts |
yes i have, most of the time, the buyer will say "I'm 100% interested in the car, just give me a day so i can talk with the family and get my money".. So will tell them " i have lots of offers already, and if you are that interested, place 100 dollar as a deposit , so i will hold the car for you".. I have done this 2 times and both buyers have agreed.
__________________
ZSP susp//18's 550i reps//blacklines/aftermarket grill//
|
Appreciate
0
|
03-01-2008, 11:38 PM | #11 | |
Captain
55
Rep 661
Posts |
Quote:
$100 is probably doable, but a 10% deposit on a $20K car is $2,000....that's a big difference and I really doubt anyone is going to hand a seller a $2,000 deposit |
|
Appreciate
0
|
03-02-2008, 02:34 AM | #12 |
Major
52
Rep 1,436
Posts |
sorry, that was just an example.. for example, the last car, was my civic , and it was priced at 7k, so i asked teh buyer for 500 dollar around.
doesnt have to be exactly 10% , just a amount that will make sure the buyer will pay .
__________________
ZSP susp//18's 550i reps//blacklines/aftermarket grill//
|
Appreciate
0
|
03-02-2008, 06:30 AM | #13 | |
Private
1
Rep 71
Posts
Drives: 2007 E93 335i
Join Date: Nov 2007
Location: Pickering, Ontario
|
Quote:
Good Luck with the sale!
__________________
2007 E93 335i Sparkling Graphite on Black/Poplar Grey/Sport/19" OEM 230 (159 for Snows)/Comfort Access/BT/USB/35% All Around
1998 MZ3 Titanium Silver on Black/Estoril sold |
|
Appreciate
0
|
03-07-2008, 04:48 AM | #14 |
QuickShifter
137
Rep 1,500
Posts |
okay...i have a confirmed buyer now.....
what's my next step? get the 'Used Vehicle Information Package' and what? should i meet the buyer in my dealer's financing office and do the transaction there? and once he pays me in cash, i'll pay the dealer for the rest of the car and then give the buyer the keys? |
Appreciate
0
|
03-07-2008, 06:53 AM | #15 | |
Second Lieutenant
6
Rep 297
Posts |
Quote:
|
|
Appreciate
0
|
03-08-2008, 12:34 AM | #16 | |
QuickShifter
137
Rep 1,500
Posts |
Quote:
my plan was to use his money to pay off the car, so i can actually sell it... so would it be better if i meet him in the dealer's office and do the transaction there?, as he hands me the money, i can immediatley pay for the rest of the car... |
|
Appreciate
0
|
03-08-2008, 01:25 AM | #17 |
Major General
373
Rep 7,076
Posts |
hey chienseguy...are u in vancouver? if yes i might have a frd that is interested in a white GTI
would u mind posting ur car info what year mileage accident? and how much u looking for...thanks |
Appreciate
0
|
03-08-2008, 06:35 PM | #19 | |
QuickShifter
137
Rep 1,500
Posts |
Quote:
vancouver, 15000km, 07 GTI, 4 door, DSG, painted bumpers and side skirts, and i even change out that silly RC antenna, OZ racing 18s with bridgestone potenzas (2-3 months old, but optional) no accident, and i'm looking for 29500 (without the OZ, i can pick it on again with 1200) |
|
Appreciate
0
|
Bookmarks |
Thread Tools | Search this Thread |
|
|