Scapegoat Posted November 23, 2017 Report Share Posted November 23, 2017 Hello, Looking for some advice on selling a car - looked at the forum for this specific issue but I don’t have enough posts to put something in that forum. We have a 2016 981 Boxster with 9,500 miles on it, purchased direct from the Leeds dealership and has about £15,000 of options fitted (full list below). Have absolutely loved owning the car but our circumstances have changed (6 month old baby) and therefore we are looking to sell. It’s not that it isn’t a practical second car (car seat fits, and we bought a Babyzen pram fits in the back boot leaving the front for other stuff), but its not a cheap car and we could do with reducing our outgoings. The car has outstanding finance through VWFS, and we have been given a price from the dealer to buy it back (and also from an independent Porsche Buyer) but they are around the £33,500/34,000 mark which is lower that we were hoping for. A look on Autotrader indicates a similar car at a main dealer would be in the £40,000/42,000, and that seems a big profit margin for a car with 18 months warranty on it. Anyone any advice on selling privately? There are very few private sellers on Autotrader and there is the issue of how to take the money safely and settling the finance (we could clear the finance with a short term director loan - but how long does it take from paying it off to getting a clear HPI check on the car?). Also what would be a reasonable asking price? Auto-trader suggests £36,995 - does this seem reasonable? Where would you advertise - Autotrader is the obvious one, but where else? All advice and comments welcome. Thanks Scapegoat Full specification: Exterior: Jet Black Metallic Paint 20 inch Carrera S Wheels Wheels partially painted in body colour Aluminum effect roll-over bars Painted wheel crests with full colour logo Smoked taillights Interior: Black leather seats Heated seats Porsche crests embossed on headrests Net-type wind deflector Equipment: PDK gearbox with paddle shift Sports Chrono Package (Sport / Sport Plus modes; stopwatch/clock on dashboard; G-Force functions; launch control) Sports Exhaust System (for that extra audible PCM including Navigation module (includes adjustable partial digital dashboard display) BOSE surround sound system Telephone module Park assist front and rear Automatic lights Keys painted in body colour ISO-Fix and airbag deactivation Link to comment Share on other sites More sharing options...
Toeside Posted November 23, 2017 Report Share Posted November 23, 2017 If you are selling the car privately you will have to have paid off the finance and for it to be shown clear. Any one buying a car of that cost bracket will check and as soon as it registers outstanding finance they will walk. It may take a short period of time for the record to change but you will have paperwork to prove. Have you tried any of the "we buy cars brigade" just as a check/comparison? Piston Heads is also a reasonable selling format Link to comment Share on other sites More sharing options...
RBD914 v2 Posted November 24, 2017 Report Share Posted November 24, 2017 You may be right, but I sold my Mini JCW for £18,000 privately and it had outstanding finance on it. I settled it electronically in front of the buyer and showed him the confirmation email from BMW. He was fine with it, it's all about trust I guess... Problem with settling the finance in advance is the seller may not have the funds to do so, secondly if the car does not sell, the seller is left out of pocket! Most people will have outstanding finance on cars these days, just make sure it's settled to the buyers satisfaction and all should be fine. Not everyone checks for outstanding finance anyway, they usually ask the seller. Just be honest as it's always the best policy. Good luck with the sale! Link to comment Share on other sites More sharing options...
Scapegoat Posted November 24, 2017 Author Report Share Posted November 24, 2017 Thanks for the responses.... Will have a look at webuy brigade - but previous experience is that they are not good value. And will look at PH as well. Thanks for advice on finance - could do the settle in person option, have a settlement letter from Porsche with the BACS details. Finally - any thought on asking price? Link to comment Share on other sites More sharing options...
RBD914 v2 Posted November 24, 2017 Report Share Posted November 24, 2017 3 hours ago, Scapegoat said: Thanks for the responses.... Will have a look at webuy brigade - but previous experience is that they are not good value. And will look at PH as well. Thanks for advice on finance - could do the settle in person option, have a settlement letter from Porsche with the BACS details. Finally - any thought on asking price? Have a look at similar cars to yours for sale privately on Autotrader with same extras and mileage, then pitch your asking price at the lower end if you want a quick sale. Dealer stock command more due to warranty, finance and part exchange facilities... Link to comment Share on other sites More sharing options...
RBD914 v2 Posted November 24, 2017 Report Share Posted November 24, 2017 However having just had a look myself, I see what you mean about lack of private cars for sale...however your suggestion of £36,995 would seem to be competitive to me, especially as yours has PSE, PDK and full leather, oh and a great colour too! Good Luck! Link to comment Share on other sites More sharing options...
Scapegoat Posted November 24, 2017 Author Report Share Posted November 24, 2017 2 hours ago, RBD914 v2 said: Have a look at similar cars to yours for sale privately on Autotrader with same extras and mileage, then pitch your asking price at the lower end if you want a quick sale. Dealer stock command more due to warranty, finance and part exchange facilities... Thanks - p/x and finance are good points, by with 18 months manufacturers warranty that shouldn’t be an issue. Am awaiting a few calls back from garages with offers before listing at the weekend - chance to get some pictures in the light. Link to comment Share on other sites More sharing options...
ATM Posted November 24, 2017 Report Share Posted November 24, 2017 8 hours ago, RBD914 v2 said: You may be right, but I sold my Mini JCW for £18,000 privately and it had outstanding finance on it. I settled it electronically in front of the buyer and showed him the confirmation email from BMW. He was fine with it, it's all about trust I guess... Problem with settling the finance in advance is the seller may not have the funds to do so, secondly if the car does not sell, the seller is left out of pocket! Most people will have outstanding finance on cars these days, just make sure it's settled to the buyers satisfaction and all should be fine. Not everyone checks for outstanding finance anyway, they usually ask the seller. Just be honest as it's always the best policy. Good luck with the sale! If the buyer is a grown up they will understand outstanding finance. I would say it is best not to settle the finance until it is sold as it can take a few days for the computers to update and therefore anyone checking will see finance still outstanding. Normal practice is to explain to the buyer that there is finance outstanding which is £xxx to settle. Then the buyer pays you the difference so sale price - £xxx. They would then settle the finance of £xxx and they know it is done. Link to comment Share on other sites More sharing options...
Greenman Posted November 24, 2017 Report Share Posted November 24, 2017 There aren’t that many 2016 981s about really, I think £36995 seems cheap for a well specced example with warranty, but it depends how quickly you want rid, obviously this time of year isn’t the best to sell. I would likely try at £38500 first. Link to comment Share on other sites More sharing options...
Scapegoat Posted November 24, 2017 Author Report Share Posted November 24, 2017 6 minutes ago, Greenman said: There aren’t that many 2016 981s about really, I think £36995 seems cheap for a well specced example with warranty, but it depends how quickly you want rid, obviously this time of year isn’t the best to sell. I would likely try at £38500 first. Thanks for the reply. Appreciate the view on the asking price - don’t want it around too long as the replacement turns up next week and therefore have about 3-4 weeks before we end up having double payments coming out. Will get it on Autotrader / Piston Heads / Gumtree (any other suggestions?) starting higher than I initially thought and reduce over the next couple of weeks Link to comment Share on other sites More sharing options...
Greenman Posted November 24, 2017 Report Share Posted November 24, 2017 You can sell on here when you have the required number of posts (50 I think?) ebay always has a fair few 981s on, Ive never sold on eBay mind. Link to comment Share on other sites More sharing options...
Scapegoat Posted November 24, 2017 Author Report Share Posted November 24, 2017 3 minutes ago, Greenman said: You can sell on here when you have the required number of posts (50 I think?) ebay always has a fair few 981s on, Ive never sold on eBay mind. Ebay fees are pretty high normally - are cars different? Link to comment Share on other sites More sharing options...
Greenman Posted November 24, 2017 Report Share Posted November 24, 2017 27 minutes ago, Scapegoat said: Ebay fees are pretty high normally - are cars different? Yeh, you don’t pay a final value fee, it’s a different arrangement for these type of sales. Link to comment Share on other sites More sharing options...
Scapegoat Posted November 24, 2017 Author Report Share Posted November 24, 2017 eBay - not too bad, £10 plus 1% of final fee. But if it goes for £35k - you are still looking at £360. Piston Heads - 30 day advert £10.99 Auto trader - £40 to £65 BoXa.net - free (but I am way short of posts) Interested in what people think the best option would be. If I could get a dealer to offer £36,000 then I'd take that - which still seems like a reasonable deal. Link to comment Share on other sites More sharing options...
Scapegoat Posted November 24, 2017 Author Report Share Posted November 24, 2017 What do dealers spend on preparing a car that is in very good condition? A good valet and wax; perhaps a couple of stone chips? Absolute top end £500? OK they might have the cost of having capital tied up for a few weeks and the depreciation (£250 a month for 2-3 months max). So being generous £1500 cost. They sell the car for £40k. £2.5k profit seems OK? Link to comment Share on other sites More sharing options...
Greenman Posted November 24, 2017 Report Share Posted November 24, 2017 The problem is your OPC warranty isn’t transferable to a trader (only if a private sale) so in effect you are losing the value of the outstanding warranty (>£1000) so any dealer has to then add their own warranty. Link to comment Share on other sites More sharing options...
Toeside Posted November 24, 2017 Report Share Posted November 24, 2017 Ebay Classified advert is a one off cost for around 30 days. (very reasonable) Buy it now or best offer. You can filter your offers such that you don't receive ridiculous bid offers from time wasters. For example if you pitch at £38500 you can set a minimum of £36000 before you see any bids so at least you know you are in the "ball park". Anyone placing a bid which doesnt reach the minimum gets the feedback if their bid failed so they can decide whether or not to try a higher bid. We have used that method to sell boats. If nothing else it's very cheap advertising nationally as people can get in touch and ask questions etc. Link to comment Share on other sites More sharing options...
RBD914 v2 Posted November 24, 2017 Report Share Posted November 24, 2017 24 minutes ago, Scapegoat said: eBay - not too bad, £10 plus 1% of final fee. But if it goes for £35k - you are still looking at £360. Piston Heads - 30 day advert £10.99 Auto trader - £40 to £65 BoXa.net - free (but I am way short of posts) Interested in what people think the best option would be. If I could get a dealer to offer £36,000 then I'd take that - which still seems like a reasonable deal. No that's not quite right, the eBay listing fee for a classified ad is £14.99 and the final value fee on cars is indeed 1% of its value - but it is capped at £35. So total fees for a car of your value would be only £60. I would list on Autotrader if it were me, to list through more then one channel at the same time merely duplicates the coverage and doubles the cost. Most people looking for a car go to Autotrader first, then eBay then Pistonheads. Link to comment Share on other sites More sharing options...
Nobbie Posted November 24, 2017 Report Share Posted November 24, 2017 21 minutes ago, Greenman said: The problem is your OPC warranty isn’t transferable to a trader (only if a private sale) so in effect you are losing the value of the outstanding warranty (>£1000) so any dealer has to then add their own warranty. Isn't that only true of the extended warranty? I'm assuming the original manufacturers warranty is 3 years which should be fully transferable. Link to comment Share on other sites More sharing options...
RBD914 v2 Posted November 24, 2017 Report Share Posted November 24, 2017 Just now, Nobbie said: Isn't that only true of the extended warranty? I'm assuming the original manufacturers warranty is 3 years which should be fully transferable. Good point, well made! Link to comment Share on other sites More sharing options...
Scapegoat Posted November 24, 2017 Author Report Share Posted November 24, 2017 I’d imagine so. If a private citizen with a car registered to them took a car to a main dealer under warranty then it’s surely covered? Link to comment Share on other sites More sharing options...
Scapegoat Posted November 24, 2017 Author Report Share Posted November 24, 2017 4 minutes ago, RBD914 v2 said: No that's not quite right, the eBay listing fee for a classified ad is £14.99 and the final value fee on cars is indeed 1% of its value - but it is capped at £35. So total fees for a car of your value would be only £60. I would list on Autotrader if it were me, to list through more then one channel at the same time merely duplicates the coverage and doubles the cost. Most people looking for a car go to Autotrader first, then eBay then Pistonheads. OK - I suppose that makes sense. I wondered if a more specialist car would do better on PH / here, and whether ebay was catching Autotrader for relevance (but I always use AT for checking out cars) Link to comment Share on other sites More sharing options...
Toeside Posted November 24, 2017 Report Share Posted November 24, 2017 Thats new about the 1% capped you are right I just checked! ............... however 14.99 + 35 = £49.99 in my world Link to comment Share on other sites More sharing options...
Greenman Posted November 24, 2017 Report Share Posted November 24, 2017 2 hours ago, Nobbie said: Isn't that only true of the extended warranty? I'm assuming the original manufacturers warranty is 3 years which should be fully transferable. Doh! Of course you are right, my mistake. Link to comment Share on other sites More sharing options...
Scapegoat Posted November 25, 2017 Author Report Share Posted November 25, 2017 Got someone to babysit for an hour today and take it our for a lovely little blast in the autumnal sunshine today - got some pictures taken / video and now its on Gumtree and waiting to upload on Autotrader. Decided to ask for £36.995 as want to sell quickly if possible. Will miss it when its gone. Link to comment Share on other sites More sharing options...
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