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If I had a car for over ten years and enjoyed and got my money's worth out of it, I like to sell them to someone I know for a bit less than full market value.
That way I don't have to deal with the hassles of Craigslist or eBay local. It's the friend and family discount, which you can feel good about helping someone out that probably doesn't have a lot of cash. There's always a niece or nephew that needs one for college.
First, let me say, I have never sold a car privately.
Can someone please explain to me why sellers use the term "Come cash in hand ready to deal"?
I have purchased a few used cars in a private sale and have NEVER come the first time with Cash in hand. Do people actually do this?
I want to take a look at the car, drive it, check it out, and then I will make the decision of whether or not to purchase said vehicle.
This whole attitude of "wasting my time" by looking at a car is a complete turn off to me as a buyer. The seller should be doing everything possible to make a fair deal. Not pressure someone into a purchase.
Sorry for the rant. Don't even get me started on sellers that don't return calls, texts, or emails.
How about the sellers who say "I'll give you a "Bill of sale" as I lost the title"...That's like saying "I'm about to give you a major headache hope you enjoy paying for it"
or those who say "Well, yes it was in a flood and yes it's got a salvage title, but it's STILL worth what I say it is"
I recently sold a truck on Craigslist. It was 12 yrs old, 108K miles and book value was about $4,000. I was asking $7500 and sold it in 5 days for $7000 cash. I had offers of trades, asking if I would finance, one dealer asked to consign it. I just wanted the truck sold, I had the title and had already bought a new one so at this point it was simply taking up space in the driveway. I don't want to waste my time, I just want to sell a used car. I don't care if someone doesn't buy it, just don't waste my time to kick the tires!
1. Callers were making book value offers despite never seeing the truck.......It was bone stock, ice cold air, one owner and in perfect condition.
2. I would only accept cash.....not getting wrapped up in a scam of some type. Nobody got a test drive unless they could show me the cash. Met 2 buyers locally (one kid was borrowing money from mom, the other guy was "looking" at the truck for his dad). Neither had any money......why waste a test drive with a buyer with no money?
3. End buyer......came and saw the truck and asked me for a favor. He didn't have a way to transport 2 vehicles about 10 miles away to his house. I drove the truck to his house, he gave me a ride home. Done deal......guy never even drove the truck! He texted about 4 days later to thank me again as the truck was perfect for what he wanted it for.
I had a daily caller (sounded like comedian Tracey Morgan)....thought at first it was a crank call. He said he looked at every truck on Craigslist and mine was the cleanest but he can't see why I was asking more than book value. I explained that I am getting 5-6 calls/texts a day and he was the only one worried about the price so I said show up with cash and make me an offer but don't waste your gas if you are offering 4K. He called like clockwork everyday asking if it was sold. On the 5th day I told him it was gone and he was disappointed!
Book value matters more than your value because book value is more than likely what the insurance company will pay if the car is stolen or totaled.
I wouldnt walk around with $7500 cash for a Craigslist ad in fear or being robbed in some parts of town, so I dont blame many for not showing up with thousands of dollars of cash on hand with all the horror stories you hear about on Craigslist sometimes.
But do feel you on that daily caller, I sold a 20yr old Benz as mechanics special for $600 and had people telling me they are on the way and would never show up and call back the next day they were coming and still not show.
The I don't want to leave my driveway and can't be bothered so I'm going to take these horrible pictures with my potato cam.
The i read that someone once traded a paper clip for a house type people. Hey can I trade you an XBox 360, a dirty bong and a Swedish Massage from my girlfriend that's overweight with Ruffles chip crums on her blouse and Dorito cheese from this mornings breakfast on her fingers. She's certificated from an online school and really good ya know, could you please giver her a good Yelp review. This was the type of nonsene I got when selling my MINI.
I understand wanting cash for cheaper vehicles, but no way would I feel comfortable turning over $5000+ in cash. I'd just rather pay a $20 fee to do a wire transfer, or do a cashiers check.
I have sold my old cars since about 1994. Trading in you're giving up about 25-40% of the additional value. I price my vehicles for a fair price and I usually bump about $4-500 so there is "wiggle" room. I don't meet people at my house anymore. They can bring cash. I tell them to meet me at my bank to have the cash checked for counterfeit bills and I recently purchased a counterfeit bill scanner so I can check it myself. Then we go to AAA and change title. There is usually a bank near a AAA office and as I bank with a few different banks there is usually a branch nearby. I don't want the vehicle in my name and I make sure that it's transferred. I have all my ownership paperwork, maintenance records, smog etc. I explain the process. If they are unwilling to do this then I don't sell to them.
I wait for 10 minutes after the set appointment time. If I don't hear from you that you're running late, I leave. If you call back I don't bother wasting my time he second go around. I'll put up with a few flakes if it means I have to wait for a serious buyer and a extra 7-1200 bucks
It is nice that AAA works for YOU.
Please keep in mind that not all states allow AAA offices to handle title transfers.
Here, to transfer ownership you MUST go to the DMV office at the courthouse. IF the paperwork is properly filled in and signed in front of a Notary Public, there is no need for the seller to be there. ONLY the buyer needs to bring the paperwork in. The seller protects himself by making a Bill Of Sale for the buyer and keeping a copy of said BOS to prove that he sold the vehicle. The BOS can be Notarized, but it isn't really necessary.
Title transfer and registration procedures (and costs) are VERY state specific. The seller and the buyer MUST be aware of the requirements for THEIR state! What somebody needs to do in any other state is probably totally meaningless!
As a buyer, I will show up with cash and sign a bill of sale if requested. I expect the title to be notarized and ready to go, every state I've lived in allows open titles. If you want I will fill in the buyer's information while you watch.
I will not go to the bank with you. I will not go to the DMV with you in tow. I will not go to AAA. The entire point of private sales for me is to avoid the hassle and time of dealers. Put up too many obstacles and I'm finding another seller to deal with.
First, let me say, I have never sold a car privately.
Can someone please explain to me why sellers use the term "Come cash in hand ready to deal"?
I have purchased a few used cars in a private sale and have NEVER come the first time with Cash in hand. Do people actually do this?
I want to take a look at the car, drive it, check it out, and then I will make the decision of whether or not to purchase said vehicle.
This whole attitude of "wasting my time" by looking at a car is a complete turn off to me as a buyer. The seller should be doing everything possible to make a fair deal. Not pressure someone into a purchase.
Sorry for the rant. Don't even get me started on sellers that don't return calls, texts, or emails.
Because they want the buyer to pay for the vehicle outright and not waste their time on destitute tire kickers. I don't think that expectation is unreasonable.
Its hard enough trying to give something away on craigs list, I couldn't imagine the pain it is trying to actually get cash for an item. Most people that contact you won't even show up.
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