[mrbmwx3]

Selling my F30 330i (see classified section). My car is on PCP finance, I have a new car coming in July (X3 M40i) and initially I wasn't going to sell privately (can't be bothered with the hassle) and just part exchange it, my dealer giving me a very good price. Obviously if I part ex I'll leave the finance to be settled by my BMW dealer when I pick up the new car, no hassle for me and just the logical thing to do.

However, the car has a mega spec so I thought I give it a go. Had a call from a young lad and his father who really liked the car, but they were concerned about the finance, rightly so. I said come along on a week day and if you decide to buy I will settle the finance whilst you're here and hand over the phone so you can speak to BMW Finance directly and confirm it's been settled. The father wasn't happy as HPI doesn't show it immediately. Fair enough, so I said the only option is for you to leave a small deposit and wait a couple of days until HPI report shows it has been cleared which should be overnight. No he didn't want to leave a penny, but wanted me to hold the car for him.

To me that's quite unreasonable, he hasn't even come down to see the car but wanted me to clear finance before and hold the car for him but also giving him the freedom to change his mind.

Why would I do that? I said again, if it doesn't sell it's part exchange and dealer will deal with the finance side of things. The equity in the car covers the deposit, I drop it off and pick up my new car. No need to deal with them writing me a cheque no need for me being out of pocket.

Such a shame as the lad was quite excited about it and pretty much told me if viewing is ok he wouldn't hesitate buying it.

Was I being unreasonable? I was trying to make it fair for both parties and was offering suggestions to protect both parties interest. Couldn't be bothered to come down and meet me, wanted it his way or no sale. I said you go into a dealer and try securing a car without a deposit.

I'm not that bothered I lost a sale as I'm not desperate for the extra little cash, I'm not dependant on the sale to buy a new car, it's more having to deal with unreasonable ppl like this. I know you have to be careful when buying privately but at least meet me at my house, check through paper work and get a feel of who you're dealing with. I said if your father meets me and my family when viewing the car I'm pretty sure he'll be more comfortable leaving a small deposit. Half of the process in buying a car is getting a feel of the car and the person you're buying it from.

[JustChris]

Your approach sounds fine to me.

[muffking]

I'd say you were being reasonable. I bought a car with finance on it and just got the owner to show me the paperwork and confirm with the finance company over the phone that it had been paid off. Your buyer must be paranoid.

[mrbmwx3]

Originally Posted by muffking

I'd say you were being reasonable. I bought a car with finance on it and just got the owner to show me the paperwork and confirm with the finance company over the phone that it had been paid off. Your buyer must be paranoid.

The lad sent me a txt with link to an article from autotrader to state never buy a car with outstanding finance to which I replied, you're not buying a car with outstanding finance, I'm clearing the finance with you as witness, with confirmation from the finance company (BMW Finance) that it has been cleared.

Clearly very very paranoid.

I guess maybe it's a good thing as I can imagine even if they did buy the car they would be the type of ppl to demand a refund because they found a stone ship that wasn't stated in the ad.

[Archer-s]

Yes, needs to be some trust both ways, and the small deposit is what I would have insisted on too, he could be a time waster, you have no way of knowing, I would have done the same

You get some right weirdos when buying/selling privately, once had a guy who refused to wash the car, I walked away

[ahmedb]

Your approach was perfectly logical and the potential buyers were fortunate to find a private seller to be as accommodating as you had been.

Unfortunately, there are individuals out there who only see the world through their own eyes, dog eat dog so to speak. They want things to work their way and they show little to no consideration to the other party. This seems like a classic example of such a case.

X3 M40i sounds lovely.

[SkyJawa]

Buyer is a fool.

If they want the car and agree to buy, phone the finance company and then put the buyer on the phone to settle it, that way they know it’s been done, any extra above that you’ve agreed to sell for they transfer to you. Simples.

[RobUK]

Think you were being very reasonable and a small deposit to trigger clearance of the finance seemed perfectly logical. Their loss.

[Busted]

They sound like a nightmare tbh. There isnt much else that you could do.

They certainly sound like they either belive everything that they read on the internet and lack the basic intelligence to go with anything but that, or the sort of people that will want a refund if they find a spider inside the car that you havent told them about.

Personally i think that YOU are the one that should steer clear of them, not the other way around

[mrbmwx3]

Originally Posted by SkyJawa

Buyer is a fool.

If they want the car and agree to buy, phone the finance company and then put the buyer on the phone to settle it, that way they know it's been done, any extra above that you've agreed to sell for they transfer to you. Simples.

That was another suggestion they didn't want to take up :-(

[mrbmwx3]

Originally Posted by Busted

They sound like a nightmare tbh. There isnt much else that you could do.

They certainly sound like they either belive everything that they read on the internet and lack the basic intelligence to go with anything but that, or the sort of people that will want a refund if they find a spider inside the car that you havent told them about.

Personally i think that YOU are the one that should steer clear of them, not the other way around

I'm beginning to feel the same

[doncarlyon]

Done this a couple of times before, the buyer is clearly not "with the times".

[Watsey]

Your suggestion was fine.

The only suggestion I have is that you could have included some words in the receipt for the deposit stating that the deposit would be fully refunded if the finance hadn't been cleared when they came to collect the car. That way, both parties have some skin in the game.

Anyway, you approached things sensibly so it's their loss.

[mrbmwx3]

Originally Posted by Watsey

Your suggestion was fine.

The only suggestion I have is that you could have included some words in the receipt for the deposit stating that the deposit would be fully refunded if the finance hadn't been cleared when they came to collect the car. That way, both parties have some skin in the game.

Anyway, you approached things sensibly so it's their loss.

Unfortunately didn't even get as far as that. It was a flat out No, not leaving you with a penny.

[DB118D]

Think you may have dodged one here.

They sound like the type that would be back on your doorstep at the first hint of a creak from the door seals etc

[SkyJawa]

Originally Posted by mrbmwx3

That was another suggestion they didn't want to take up :-(

Well then they are class a muppets mate and you are well shot not dealing with them!

[mrbmwx3]

Originally Posted by SkyJawa

Well then they are class a muppets mate and you are well shot not dealing with them!

Haha yeah, actually text the guy and said "I'm not sure what you actually want from me".

Anyway first time selling car with finance associated with it, so glad to know that I'm not doing anything myself that's unreasonable.

[SuperHamz]

I don't feel that what you suggested was unreasonable.

In fact, what I they were asking you to do was unreasonable and had no benefit to you.

[Isow]

There are many sophisticated fraudsters out there.
Your ‘ buyer ‘ was just trying to reduce the risk.
In reality, someone who is as cautious as him should only buy from a
BMW dealer.

[mrbmwx3]

Originally Posted by Isow

There are many sophisticated fraudsters out there.
Your ‘ buyer ‘ was just trying to reduce the risk.
In reality, someone who is as cautious as him should only buy from a
BMW dealer.

Absolutely, I agree someone as cautious as them should only be buying from dealer, but for them to consider buying privately they also need to appreciate that the seller would also need to be cautious, scams unfortunately work both ways.

Personally I would of thought speaking to finance company direct is enough confirmation, it's actually what the HPI report states that they need to do.

Anyhow, it's all part and parcel of buying and selling privately, just want to make sure I'm being reasonable and fair.

[Isow]

Originally Posted by mrbmwx3

Absolutely, I agree someone as cautious as them should only be buying from dealer, but for them to consider buying privately they also need to appreciate that the seller would also need to be cautious, scams unfortunately work both ways.

Personally I would of thought speaking to finance company direct is enough confirmation, it's actually what the HPI report states that they need to do.

Anyhow, it's all part and parcel of buying and selling privately, just want to make sure I'm being reasonable and fair.

In a sophisticated scam you would appear to be speaking to the finance
company but in reality you would be speaking to a fellow fraudster.

[mrbmwx3]

Originally Posted by Isow

In a sophisticated scam you would appear to be speaking to the finance
company but in reality you would be speaking to a fellow fraudster.

Yes, which is why I asked them to get the number from HPI check or BMW themselves and call them from their own mobile.

HPI check actually gives them the agreement number.

Absolutely correct in being cautious which is why I recommend all the options, for me it's just a matter of protecting my own interest as well, if you want to secure the car then £100 to £200 to hold the car.

They did sound serious but just did not want to part with any money.