[bridder]

I wonder if selling a car like mine (420d Convertible) privately is no longer easy or even possible.

I have been told (mainly by dealers), that no one will buy a car above £15K from a private seller, it's much easier to go direct to a dealer...

But my problem is I don't want to get ripped off or a dealer price. Anyone got advice on the best way to sell a car privately? Just in case anyone is intereted in the spec:

BMW 4 Series 420d M Sport Convertible - Auto

It's in great condition like new with 5 years free service pack. First service is not due, 19" M Double-spoke style 442M alloy wheels, Electric windows, Air conditioning, Satellite navigation, Parking aid, DVD, CD player, Leather trim, Heated seats, Height adjustable driver's seat, Height adjustable passenger seat, Folding rear seats, 19" Alloy Wheels, Power steering, Electric adjustable front seats, Cruise control, Traction control, Central locking, Alarm, Immobiliser, Driver's airbags, Side airbags, Passenger airbags.

[Drek]

Originally Posted by bridder

I have been told (mainly by dealers), that no one will buy a car above £15K from a private seller, it's much easier to go direct to a dealer...

Partial cobblers. First bit about not being able to sell privately above 15k is complete rubbish, plenty of people buy and sell above that price point, I sold my E91 for 17.5k privately (to the first chap who saw it). Second bit is true enough, it will be easier to go direct to a dealer but of course they would say that and they'll stiff you on a part ex. Thems the rules innit.

[225]

lol so a main dealer told you will get a rubbish price selling privately as opposed to the amazing deal he can give you...

[bridder]

Originally Posted by 225

lol so a main dealer told you will get a rubbish price selling privately as opposed to the amazing deal he can give you...

Ha no, he's saying I am being too optimistic, here's what he said:

trade price is £24,100 so you’re a long way, but the problem you have is that it’s rare for a private buyer to buy a car at this sort of money by paying cash. They usually want finance and have a car to part exchange.

Also looking on Auto Trader, most 2015 cars (15 plate, not 65) are retailed by BMW dealers at between £24k and £26k, why do you think yours is worth £29k??? Gold plated handles??

[PurpleTT]

Wow! Cheeky fecker

[moonshine]

i sold a 20k e89 z4 privately a couple of years ago - priced fairly and i had 3 keen buyers - the first guy who came put down a £1k deposit and we did a bank transfer in the branch, so no, private sales are not dead - IME

[bridder]

So just out of interest, how much would you buy my car privately?

Photos and details here: www.ebay.co.uk/itm/-/162279119547?

[Drek]

Dealer sounds like a total arse although not necessarily wrong. Is he a BMW main dealer?

[robbiep]

A similar discussion a few months ago : someone on here was advertising a car (allegedly his bosses car, but everything was worded by him as if he was the owner), and he took umbrage at the fact that a few of us told him it was well overpriced.
Basically, go onto AUC, and find similar cars. Then knock 10-20% off, and aim for that.
So if similar cars are on AUC for 30k, then yours will go for 24-27k.

If similar AUC cars are £26k, and you're priced at £29k, then you're delusional. Time to get real. £24.1k is actually a decent part-ex price.

Why so big a difference ? Well, you've already answered it yourself. The buyer needs to do all the HPI work, they aren't covered by CRA legislation, you can't offer finance, you (probably) don't want a part-ex ...

[Drek]

Originally Posted by bridder

So just out of interest, how much would you buy my car privately?

Photos and details here: www.ebay.co.uk/itm/-/162279119547?

There's one on eBay that's got less mileage, 7 months older than yours and it's almost 5k cheaper. I suspect that you're being a little optimistic at nigh on 30k.

[225]

Hate to say it but nearly 30k is over priced. There are a lot of very low millage 16 plates advertised at 31k which can easily be knocked down. Also see below.

http://www.autotrader.co.uk/classifi...?atmobcid=soc3

http://www.autotrader.co.uk/classifi...?atmobcid=soc3

[DaveA]

I'd say being offered £24k when dealers are retailing similar cars approved used for £26k is more than fair... the dealers know what they can sell at and don't tend to price over by all that much... selling approved used is difficult enough as it is without getting your prices wrong... ...

[Kal101]

Don't base your price on dealers price as you can't compete on buyer protection warranty aftercare etc etc

You've got to base your price on the trade in value. If you go on auto trader they will give s basic privarecsale price got a car simillar to yours - optional extras will addon to that as will condition mileage etc.

If you sell privately you will get a price in between trade in and dealer price. Remember your car is worth what a buyer will pay not what you think it's worth. Can be a bit depressing sometimes.

As regards finance etc there's a plethora of companies offering finance at competitive rates.

Good luck with the sale.

[RhysT1]

Just had a quick browse on autotrader
65reg 12k miles for £27.8k
16reg only 1,500 miles for £30k

I hope you can get every penny you are after for the car but realistically selling convertible's this time of year is not going to help and I think you will struggle to make £25k private sale

All the best, Hope it sells soon

[HelmutVisor]

As a top tip, if you are trying to sell a £29k car; phone photos of it in a multi storey isn't exactly going to get the punters rushing in.

1989 Fiesta - yes, year old BMW convertible - nope. If you want anything near to your asking price, you have to make it pop out on the advert. Look at how dealers do it. Make it classy and quality.

[NorthEastX5]

Private sale for your car £23-25k

As others have said AUC stock is usually priced to sell with some small margin for negotiation. Dealers spend more than you think getting a car to official auc status which is why buyers will go with them, warranty, finance etc. You cannot compete with that.

Personally if you really must sell privately get some trade in prices to give you a starting point, look in auto trader and the BMW auc site and you will have a good idea where you need to be.

For your model, age and mileage I agree with others. Mid 20s max private sale. Anything around 24k wouldn't be a million miles away.

Good luck !

[moonshine]

Originally Posted by bridder

So just out of interest, how much would you buy my car privately?

Photos and details here: www.ebay.co.uk/itm/-/162279119547?

Let's say trade prices is £24k, you might get £26k tops for a private sale. The dealer might advertise it for £29k

But that is his profit.

I've got a copy of Glasses guide which is a few months old but I can check what it says

[TheFifthElement]

I don't agree with the dealers (totally), I think once you're up near 25-30K then it is more difficult.

I'd suggest most people above this level use HP/PCP finance, as unless it's a special car that may appreciate in value, even if they do have money in the bank, it makes no sense to invest it in a car that'll depreciate like a stone. At that level too, you're probably looking for some comfort (whether it's real or not) from main dealer support, warranty etc.

Loans are pretty cheap these days, but once you start going over 20-25K they become more difficult to get a hold of.

I'd be happy to pay 20K, for a nice used, full service history car maybe with some transferrable warranty. Anything above that though and I think your market for a private buyer becomes a bit more limited.

That's all IMO mind you, and they do say if a car is priced right, it will sell ..

[DB118D]

Originally Posted by bridder

I have been told (mainly by dealers)

And there is your issue. Don't believe what dealers tell you.

He wants you to PX your car at the lowest price he can offer you, to sell to the next punter at the highest price he can and lift another £3k margin.

Get the best deal you can for your new car in terms of discount/contribution first before talking PX values or monthly payments.

EDIT: In addition to what's already been said, if AUC's are £26k and you're asking £29k, then your car is £4-5k too expensive

[Tengocity]

Originally Posted by bridder

I wonder if selling a car like mine (420d Convertible) privately is no longer easy or even possible.

I have been told (mainly by dealers), that no one will buy a car above £15K from a private seller, it's much easier to go direct to a dealer...

But my problem is I don't want to get ripped off or a dealer price. Anyone got advice on the best way to sell a car privately? Just in case anyone is intereted in the spec:

BMW 4 Series 420d M Sport Convertible - Auto

It's in great condition like new with 5 years free service pack. First service is not due, 19" M Double-spoke style 442M alloy wheels, Electric windows, Air conditioning, Satellite navigation, Parking aid, DVD, CD player, Leather trim, Heated seats, Height adjustable driver's seat, Height adjustable passenger seat, Folding rear seats, 19" Alloy Wheels, Power steering, Electric adjustable front seats, Cruise control, Traction control, Central locking, Alarm, Immobiliser, Driver's airbags, Side airbags, Passenger airbags.

I've sold my wife's Mini Cooper SD in June- took 8 days from advert to money in the bank - £19k car

2 years ago I sold our Z4 for £16.5k. Took 2 weeks

3 years ago I sold a 330d for £15k. Took 2 weeks.

All sold through autotrader and all for at least £2k more than a trade in would have achieved.

Advertise it and see what happens, If it's still in warranty then that should be mentioned as gives a certain peace of mind.

[SkyJawa]

Originally Posted by bridder

Ha no, he's saying I am being too optimistic, here's what he said:

No deal for this asshole.

[F30Andy]

From experience I tend to find that the kind of buyers willing to spend 20k+ on a car from a private source are the kind of buyers that:

A) Will have the cash ready and will not faff around trying to arrange finance or a PX.
B) Know very well exactly what they are looking for.
C) Will have been to see at least 4 - 6 others in the price range they are willing to pay.
D) Are the kind of buyers that will pay what you have listed it for should it meet their criteria. Should it not they will still entertain it but may try and knock off a few hundred quid.

Bear in mind although not impossible, these days that kind of buyer is few and far between.

There used to be a time prior to the proceeds of crime act that people in certain industries (street pharmaceuticals, conversion engineers of handheld items, etc) would happily turn up with wads of cash to buy cars from private sellers.

These days the people with that kind of money in cash usually are the kind of people that want the security of buying from somewhere they have a chance of setting trading standards on should the poo hit the fan.
The ones willing to take the risk are the ones in the know.

Personally I have sold a Continental GT (listed for £34k) for £31750 to a private buyer, and other cars for a touch less.

Although not impossible, it is harder to find that kind of buyer.