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Selling our car - advice please

lancashire ladlancashire lad
in Not Sports Related
We are about to buy a new car and our current car which is on a PCP contract can be returned at no added cost, however the settlement figure to buy it is about £5k less than webuyanycar online quote. I have also found another company bestcarbuyer on line.

I have never sold a car this way as I have always given the car back to the finance company so any advice would be welcome

Comments

  • T_C_ET_C_E
    Personally I wouldn’t recommend webuyanycar, others may say different but me I’d steer clear. 
  • Rob7LeeRob7Lee
    No harm in taking it down to WBAC etc once they see it can give you a firm price, then go from there.
  • BigRedEvilBigRedEvil
    I read there was a used and new car shortage at present. So if your on pcp see how much it is to buy the car and compare it to how much you'll get selling it. 
  • golfaddickgolfaddick
    I usually get a quote from WBAC.com and then use that figure as a guide when haggling over p/ex on the new car. The new dealer will usually sort out the difference between what you owe (settlement figure) and what they will pay you for yours. Use this then as a down payment on your new car.

    Or am I missing something  ? 
  • AddicktedAddickted
    Go to motorway.com.

    They send photos and details to a myriad of car dealers. I got £3600 more for my Discovery from them than part ex for a new car.

    Really professional small dealer bought it for a client of his. Hassle free.
  • Hal1xHal1x
    edited July 2021
    I recently used a firm called Motorway. You give them a call and they send you a email which details the photos you need to take and how to frame them. They then share with dealers who bid for your car. Webuyany car had offered £9000, before they start chipping away at the price. motorway bid £9300 and they came and collected it. They checked it was as described and all the paperwork/books and paid the money into my account before they drove off. Superb service, apart from it was sometimes tricky to get the photos exactly as they wanted.
  • cafcnick1992cafcnick1992
    If you sell it privately online, please please be aware of the scam being used by eastern Europeans where they come over, throw oil in the coolant tank and offer you a trivial sum of cash.

    It's a big one at the moment and easy to avoid by just putting the phone down.
  • Notts_AddickNotts_Addick
    Sorry to hijack the thread, has anyone had any experience (and success) haggling on a PCP settlement figure to buy the car outright?

    My partner's PCP is up in a few months and we'd quite like to buy the car as opposed to handing it back, the final settlement figure we were given when we took out the PCP was 3k. We think that's fairly reasonable given it's been a great car however wondered if anyone has had any experience of negotiating a final settlement figure or whether dealers refuse to budge?
  • AddicktedAddickted
    cafcnick1992 said:
    If you sell it privately online, please please be aware of the scam being used by eastern Europeans where they come over, throw oil in the coolant tank and offer you a trivial sum of cash.

    It's a big one at the moment and easy to avoid by just putting the phone down.
    Got caught by this when selling my Jag. Got pictures of their vehicle (an BMW 1 series with Irish plates) but OB not interested as it was only criminal damage.

    Had four other scumbags attempt the same thing. They always start by asking if you will take a reduced price before they've even seen the car. All Eastern Europeans.
  • T_C_ET_C_E
    WBAC offered 5k online and when I got there, a tyre kicker immediately changed the offer to 3k. I sold it elsewhere for 5k. Just my experience 🤷‍♂️
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  • SenpaiSenpai
    I bought a car a couple of years ago on PCP. I wasn’t using it very much and decided to end the contract early. I took out a loan to pay off the finance and then sold it privately on autotrader. With the money from the sale I then paid off the loan. Personally I would never buy a brand new car again as they depreciate so much when you drive it off the forecourt of the dealership. I only go for second hand cars. 

    So if you can afford to purchase the final settlement, sell the car privately and with more cash and nothing to part exchange you might have more in terms of trying to haggle a deal on a new car. 
  • fenlandaddickfenlandaddick
    edited July 2021
    Shop around. Second hand prices are high at moment according to the press. Sold my last car to a local small car sales business. WBAC were 700 quid less. That was 5 years ago. I preferred selling to a local business where we both felt we could make money out of the deal. WBAC was not a great experience at the time.
  • MrOneLungMrOneLung
    Have sold  3 or 4 cars with We Buy Any Car

    Each time we have got more money than we were offered in part exchange by the people we were buying the new car from. 

    Yeah you can get more selling privately but would rather take a few hundred quid hit to have avoided having to stay in for viewings that never turn up, worry about uninsured test drives, be on receiving end of attempted scams etc. 
  • lancashire ladlancashire lad
    thanks for all the advice.
    I have decided to use Motorway and have had a chat with them.I don't need to initiate the sale for another week and will; let you know how I get on.
  • bobmunrobobmunro
    Notts_Addick said:
    Sorry to hijack the thread, has anyone had any experience (and success) haggling on a PCP settlement figure to buy the car outright?

    My partner's PCP is up in a few months and we'd quite like to buy the car as opposed to handing it back, the final settlement figure we were given when we took out the PCP was 3k. We think that's fairly reasonable given it's been a great car however wondered if anyone has had any experience of negotiating a final settlement figure or whether dealers refuse to budge?
    I would very much doubt it.

    A PCP is a credit agreement and anything less than the balloon payment you agreed to when you bought the car would be a part-settlement and would destroy your credit rating.

    The only way you would get a better deal would be to settle the PCP at the full amount with the promise that the dealer will give you a greater amount if you then part-ex it for another of their cars. 
  • cafcnick1992cafcnick1992
    MrOneLung said:
    Have sold  3 or 4 cars with We Buy Any Car

    Each time we have got more money than we were offered in part exchange by the people we were buying the new car from. 

    Yeah you can get more selling privately but would rather take a few hundred quid hit to have avoided having to stay in for viewings that never turn up, worry about uninsured test drives, be on receiving end of attempted scams etc. 
    Honestly I would have thought this was a strange decision a few years ago, as an extra grand is an extra grand, but with all the nonsense I had to endure selling a good, mechanically sound motor last year, I totally understand.
  • Hal1xHal1x
    lancashire lad said:
    Today the car went off to the new owners. I used Motorway who on enquiry advised that I should get £26.3k and in fact I got £27k which was a £5k profit. Webuyany car offered £23k The system is seamless and after inspection the buyer transfers the money straight to your bank account and waits until you know it's there before you give him the keys and documents.

    Thanks Hal1x & Addicted for your good advice.
    glad to be of assistance, when can I expect the cheque?..
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