Best price to sell

[wag29]

Hi, was wondering if anyone could give me an idea as to the best price to ask for my pride and joy in a private sale, it is a sept 2012 210 bhp,  only had the car 6 months bought as a pre-reg with only 40 miles on clock, it now has 3500 miles on clock.It had its first service 2 days ago. As new condition washed and cleaned every week.

Specs are;
                     Carbon Grey
                     All Leather
                     xenons, +led driving lights, DSG Box
                     Glendales
                     Rcd 510 radio
 Picture can be seen on the gallery, dealer has offered me £19000, no finance on vehicle, dealers are asking about £23000 so don't really want it to go in p/x and dealer making profit as would rather someone buy private and reep the benefit of a genuine bargain. Cheers
           

[dubber36]

£19k is about right for it's trade value, i.e. what it would make at auction. The dealers may be asking £23k for them, but they will probably have to take in a px that they don't want and over allow on that, put the car through the workshop, pay their overheads then the VAT on the remaining profit, so won't be left with as much as you might think.

Most people spending that sort of money on a used car will want the sort of back up and purchase options that a dealer provides, so will be reluctant to buy privately. That's not to say that there won't be anyone out there, it's just you may need to wait a while to find them, or be prepared to take less money that you might like.

[Snoopy]

Stick it on pistonheads classifieds they seem to sell quite quick on there.

[qureshia]

Hi

is £19k the dealer px price or cash buy price

If px it may be worth understanding from the dealer if you can get a discount on the new car you are buying if you don't trade in you old car, equally it may be worth asking the dealer what they would give you for buying it outright.

Private versus trade is a fickle world
My friend who buys and sells cars for a main dealer recently told me about a customer that traded in a Porsche with them after trying to sell it private for 2 months (for around £30k)
He paid the guy £29k for his car and sold it within 2 weeks (off his forecourt) for £35k (after spending no more than a couple hundred on it)

No private buyer would touch it at £30k as a private sale yet more than happy to 15% more to a dealer - the spread between trade and retail ended up being 20% - about the spread between what you are being offered and the likely selling price by the dealer.

The issue is not what a dealer will pay but the unwillingness for private buyers to buy from private sellers at prices above £20k (in the main)

Saying that I did recently buy a near £40k car private for a bit more than the guy was offered by a trader

Stick it on pistonheads and see how it goes, pretty sure most private buyers will want to chip you down to the psychological £20k price barrier - looks like a great car

 Good luck 

[MustardGTI]

Why do you want to sell so soon, if it's not prying?

[wag29]

The 19k was what the dealer offered me as a p/x deal, but they would not be selling the car on their forecourt as it was a BMW dealer, the figure came from a sytner VW garage in Huddersfield that he had spoken to on the phone. The vw garage said he will probably put it up for £21.850 but I think he really means about £23000 I paid £25000 for it six months ago so was not willing to loose £6000 in 6 months!. Reason for selling was wanted to reduce my monthly outgoings.

[dubber36]

By reducing your monthly outgoings, can I assume that you have bought it on a finance deal of some sort? If that is the case, then you haven't actually paid out £25,000 for it. You have paid out your deposit, plus however many monthly payments you have made. Assuming that you have some equity in it, if you sell it and pay off the finance, it will have cost you your deposit, plus monthlys, less the equity that you get back. So maybe less than £6,000.

If you put in a small deposit when you bought it, the chances are is that you are in negative equity, so will have nothing in it to start again with on a new deal. I'm sure that dealers will be able to manipulate the figures to do a deal to put you in another car with lower monthly payments, but that would mean rolling the debt over into the next car, which in turn makes that car ultimately more expensive.

The debt needs to be paid off at some point, so you would be better off in the long run by sticking with it, cut back on other stuff and get the car paid for. Do that and you will be on a much stronger footing next time.

[wag29]

Hi, thanks for responses did not buy car on finance from dealer,had a personal loan of £11000 from bank so was hoping to sell car at decent price then pay off personal loan and use the remainder to put as decent deposit on next car being on a solutions or PCP agreement with the monthly payments being less than my repayments on loan of £243 per month.

[dubber36]

But whilst the monthly payments may be less, we all know that getting a new car with a PCP is a very expensive way of doing things. You also need to look at what you will be left with in 3 years time. With a PCP on a new car you may have £1-2000 of equity, whereas if you stick with the car you have, you'll have a car worth cira £15,000 that will be as good as paid for.

[wag29]

Thanks dubber for that after thought of equity on new car after 3 years, this was the thing that plagued  me paying all that money out for 3 years and really nothing to show for it at the end only about 2000k equity and a final settlement figure of about 14000k . So have decided to keep my GTI for a while and see how things pan out, I do love my golf so its not going to be a hard decision to make, not many miles to the gallon but loads of smiles to the gallon