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Selling a car
26 replies to this topic
Posted 28 November 2019 - 06:17 AM
We have had DH's car for about a year now (car is 4 years old) but he started a job recently where he now has a company car and so we dont need to have both of our cars. Neither of us have ever privately sold a car before and it feels a bit overwhelming.
I just have a few questions if you can all assist please
I know roughly what we want for it based on what same models with similar kms are going for but how much higher than what we are aiming for do we price it so there is negotiation room?
We will sell it with a roadworthy but would I do the roadworthy before it is sold or do the roadworthy once someone commits to buying it?
Do I take a deposit from the interested person or just have them arrive on the day to collect it with the full amount?
And do people still pay with bank cheque when buying a used car or do they put the money in your bank account?
We are in Victoria if that helps
Thanks so much!
Posted 28 November 2019 - 06:39 AM
There are a lot of scams with car sales. Basically ignore anyone who doesn’t want come in person to look at the car - the scammers usually say they are on an oil rig or something.
Have you cast around your social circle to see if anyone needs a car - saves so much hassle.
The absolute best way to take payment from a stranger is to do it in cash, outside your bank in business hours, and let them see you banking it. Or possibly PayPal if they want but check it yourself by logging in, and be aware of the fee you will pay.
I would price it well - it’s worth it to avoid having delays.
Don’t forget to lodge the notice of sale - you need to buyers drivers licence number.
Posted 28 November 2019 - 06:48 AM
Not sold, but daughter bought one recently.
One seller wanted her to pay a significant deposit before the would do the roadworthy. That was a bit unfortunate as husband and daughter a both a bit naive. Just went by the 'tick' saying it had a roadworthy, so organised an RACV check without actually sighting the roadworthy, and turned out she planned to sell it with a roadworthy, but it didn't yet have one. We decided that rather than throwing good money after bad (what if a major fault showed up - would she insist on increasing the price, once we'd paid the deposit) so walked away.
Next one they looked at was a bit the same, but as soon as we indicated we were definitely interested, subject to roadworthy, they had it done immediately.
As for payment, we went there the night before to pay the deposit (10%) and with osko system it showed up in her account within minutes, so we knew we could do the same with the balance the next day, and all went smoothly.
It's a risk of course, but we got a very good gut feel about the sellers, unlike the first one, and were confident about it all being genuine.
If you want to see if someone's payment comes to you immediately, you could try the transfer with $1 to see if it's almost immediate for you.
Posted 28 November 2019 - 07:06 AM
Don’t accept PayPal payment or bank cheque (unless you cash it before buyer drives away). Both can be cancelled by seller once they have possession of the car.
Posted 28 November 2019 - 07:15 AM
One of my friends sold her car and the person physically transferred the money using a bank app and she saw it arrive in her bank account using her app. Im not sure if theres any downsides to this but you could check with your bank. Maybe do a handwritten recipt for both parties or take a photo of the persons license if they are ok with that to help protect yourself from scammers.
We don't have pink slips in SA so cant comment on that.
I agree with pricing it competitively will sell it a lot quicker. It might be worth sticking out for more with a newer car but you have to weigh up whether that will be more than the insurance and rego costs while its being sold.
Posted 28 November 2019 - 07:17 AM
I would ask for cash and take it straight to the bank. Mind you, I’ve only sold cars for a couple of $1000s.
Most people will ask you to put a lesser price on the certificate of sale so they pay less tax
Posted 28 November 2019 - 07:35 AM
We went to our local Westfield.
Pulled out cash from her bank account and she handed it to me, I gave her the keys and then we walked the money down to my bank. Then I transferred the ownership online and I showed her where the car was parked. Car sales also have an online option. Also Gumtree people are nuts and I wouldn't list on there if the car is worth over 10k.
Also price it realistically. You'll have a wider range of people to deal with. Everyone else's sale price is not the price they're getting. Make sure you write a proper ad and say you're selling reluctantly because you got a work car.
Finally just don't do business with someone who doesn't feel right. People try and bully and scam you and sometimes if you're a very nice and polite person you get caught up in it.
Posted 28 November 2019 - 07:42 AM
Completely agree with putting in the reason you're selling it.
Obviously people can fib, but I would want to know why. The people selling the one our daughter bought were lovely and chatty, and even gave her samples (don't want to be too identifying on their behalf) of the marketing products, and the work vehicle was right there, so we were confident it was true.
Posted 28 November 2019 - 07:43 AM
We’ve done it a few times (also in Vic) I prefer to get the RWC done first, so I know it’s sorted before I try and sell it. They last for 30 days so you will most likely sell it in that time. If you have a regular mechanic, that’s often the easiest place to get it done.
It is also worth getting it detailed. This really does make a difference to how the vehicle is perceived by potential buyers.
Once that is done, you can take photos to upload to a reputable site like Carsales. (Avoid gumtree as there are more likely to be scammers there.)
With the photos, don’t take them outside your home, but rather, go to a local park/beach/etc and take the photos there.
It doesn’t cost extra to have more photos on Carsales, so take as many angles as you can. Include photos of the engine bay, odometer, with doors open and closed, boot/hatch up and down etc
When listing it, make sure you choose the correct drop down model on the website. (TBH, I prefer using the Carsales app as I can take photos on my phone and it is really easy to just do it all on the same device). Carsales prepopulates the standard vehicle features for each model, so just check its correct and then add any extra things that have been added such as a tow bar, etc. You can then add details such as reason for selling, one owner, etc if you want to.
Posted 28 November 2019 - 09:29 AM
We sold a car last year and it was pretty painless. Price it to sell, it's OK to stick to that price and not be talked down too much. We don't have to get roadworthy certificates when selling cars in SA but we did purchase a car facts report through carsales.com.au that any potential purchaser could look at online (costs about $30). The reports states if there is any finance on the car, if it has previously been written off or stolen, if there is any discrepancy with the odometer reading and it also shows a graph on where the price of the car sits in relation to other similar cars on the market.
We priced our car just slightly cheaper than all the other cars on the market and sold it for that asking price within a week. The purchaser gave us a bank cheque for payment and I took a photo of his driver's licence in case their was any problem when it came to banking the cheque. I think overall it went a lot smoother than I thought it would. It was an expensive car for the second hand market ($29,500), I don't think I would be so keen to hand over that amount of money for a second hand car in a private sale.
Posted 28 November 2019 - 10:35 AM
We've always sold privately. We had one person give us bank cheque, however I didn't release the car until the cheque had cleared. It was extremely frustrating for the buyer as that took 3 days even though he had paid cash for the cheque. Easiest was the guy who showed up with $35,000 in cash at 9.00 pm sight unseen - he was so keen to buy it for his business (it was a Hilux ute) that I had to literally force him to drive it under a street light so he could inspect it.
We're just about to sell our car (for around $45k), and I think this time I'll insist on meeting the buyer outside a bank to organise a cash t/t so I can just give them the car.
Edited by Gumbette, 28 November 2019 - 10:37 AM.
Posted 28 November 2019 - 01:42 PM
I'd be worried about forgeries with a fistful of cash.
I'm not talking even about it being deliberate. We got a forged 50 from a cash machine at Woolworths.
Posted 28 November 2019 - 03:47 PM
I've always taken a bank cheque with no issues. I don't do the RWC till I have a buyer as they expire rather quickly. For each car I've sold I've taken a deposit then gone and got the road worthy. Transfer forms can be downloaded from VicRoads. They give me the cheque and I give them the car
Posted 28 November 2019 - 03:55 PM
Yep, always done bank cheque, there is a number to call to confirm that the cheque is legitimate and funds are available. This type of purchase is exactly what bank cheques are for.
Posted 28 November 2019 - 04:11 PM
Sort of. You can do the checks, but the seller can drive around the corner, call their bank and cancel the cheque. If you haven’t cashed it by then, you’ve missed out. When I bought my car (from a dealer) they told me they don’t accept bank cheques anymore because this had been done to them.
Posted 28 November 2019 - 04:40 PM
I wouldn't do a bank cheque either.
An osko payment is far more secure, and about three days faster. We were told when collecting a new car that we'd need to allow 3 x days for clearance. Buying another one we did it via direct bank transfer and that still involved waiting, but they said they'd let us know as soon as it was in, and that was first thing the next morning.
That's what I'd be doing first, asking a (genuine buyer) to put $1 in my account to make sure it went through immediately.
We were expecting it to go through overnight, because she wasn't with the same bank.
Paid a deposit that night, didn't want to collect as insurance being sorted the next day. Took the balance to less than $10 saved me contacting the bank to increase it.
Because the osko payment was immediate, we were all confident we could do the balance on the spot the next night, for collection.
Edited by born.a.girl, 28 November 2019 - 04:41 PM.
Posted 28 November 2019 - 05:42 PM
The only other advice and from reading crime reports, is always nominate the place to meet, never allow the buyer too. A few cases of friends of the buyer laying in wait to assault you and steal the car. And don't let them suggest to go elsewhere after you have met either.
Posted 28 November 2019 - 05:59 PM
I’ve only done it twice, first was a friend so I knew it was legit and second was a guy who was very keen but I didn’t have the RWC So I had it done and he left a deposit then came back and gave me cash $10k...
I felt odd having that much cash in the house so we went to the bank ASAP and cashed it but it was all fine.
Posted 30 November 2019 - 02:24 PM
Another option I’ve thought about myself is to use an auction house to sell for you. You can set a reserve until it’s sold. Yes, you pay a commission but still more in your pocket then a car dealer and you don’t have the hassle of dealing with people and payment.
Posted 30 November 2019 - 02:42 PM
I sold a car online last month. Priced it with a little room to negotiate (and pretty much expect a LOT of messages asking you to accept lower offers- that part was crazy to me! Like I had it listed for $7k and was getting offers of 4k when it hadn't been up a week..).
RWC lasts a month, so its up to you- I got it first but in hindsight probably shouldn't have? It did help to sell the car, but I could have easily taken it between the people inspectingnthe car and picking it up the following weekend.
I got a deposit to hold the car for the purchaser (just $100 through bank transfer) and then they transferred it via the app when the picked it up. I had their licence details so I felt comfortable trusting that it would transfer. Last time I sold it was my first car so it was not much cash- so much easier!
Posted 30 November 2019 - 08:25 PM
Stay away from Gumtree! We had dh car up for sale and the scams that were coming in... We had one guy actually trurn up and said his sister is paying for it and I said OK so when will your sister be here to inspect car he said oh she won't be she will just transfer it on line or do PayPal I said no cash only. And the wierd thing about it is he text me on a mobile no then when I went to call it to confirm time it just rang out,then when he called me on a different mobile a different no showed up. I was quite worried and scared for selling a car after that transaction. The next day a really nice lady was a genuine buyer and brought the car through car sales.com
Posted 01 December 2019 - 06:15 AM
We’ve sold two cars via car sales.com One for cash $8000 and the more expensive one for a bank cheque. I had no idea a bank cheque could be canceled. I thought it was secure! We did however wait for it to clear before releasing the car. It also did occur to us that the guy buying our other car got cash could have tried to shake us down. It appears we’ve been lucky!
Posted 05 December 2019 - 11:23 AM
Thank you for all the helpful advice. We listed the car on carsales and have a few messages from a buyer today but i dont know if it sounds dodgy or not?
1st message was: Are you negotiable on price, DH replied with we are open to reasonable offers. We then got 3 more messages. The first was - 'Look i am really a very serious and genuine buyer' THEN 'Whats the lowest you can do for me' and THEN 'I can come now to inspect and if I like it I will pay you cash'.
We aren't home until 6pm so i told DH that if this person wants to meet tonight we can but to meet at the local maccas as i dont want a stranger to know we aren't home at the moment.
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