[CliveL]

Hi all,

After being a member of this Forum for nearly 5 years I'm moving on from my X1. I'm in the UK, and looking at options for selling it on. I'm not part-exchanging or trading-in as I've taken on a personal lease car elsewhere, and I've paid off the finance so the car is 100% owned outright by me. So, what would your advice be for selling it on?

I'm pleasantly surprised that the retail (dealer forecourt) value of the car seems to be quite reasonable (compared to my final balloon payment); it's a petrol automatic with xDrive. A very rough quote I got 7 months ago from WeBuyAnyCar was less than one I got only a week ago. I've never dealt with them, or another similar company (Motorway.co.uk) but I'm assuming the secondhand car market in the UK has got quite a bit of demand at the moment. I also got a rough quote for my local BMW dealer buying it from me for "cash", which was on a par with WeBuyAnyCar and Motorway, give or take £500.

I'm thinking I could get more for it from a private sale, but I'm concerned about the potential risks of being transferred quite a sum of money, and possibly getting scammed/ripped off. What would your general advice be as I've never sold a high value (more than £15k) car before. I would be very grateful for any input and experience

Finally, a plug for the car itself in case anyone is interested It's a 2016 X1 xLine 20i xDrive with Sports automatic transmission in Mediterranean Blue with Oyster leather and matt oak interior. 35,100 miles on it, with full BMW service history. The tyres (Bridgestone non-RunFlat) are all 1 year old with plenty of life in them. It's got full electric heated seats with memory, sun protection glass, heated steering wheel, electric folding mirrors, sliding rear seats, extended interior lighting package, space saver spare wheel, front and rear PDC, rear camera. The car is in very good condition, and is in Bournemouth, Dorset.

Thanks in advance for any advice!

Cheers,
Clive

[pfdaxe]

You will always get more money selling private. At least here in the States it's usually a few thousand more. Anytime we've sold vehicles, we've completed sale at a bank with a notary to officiate the documents and payment either via certified cashiers check if paying with cash or verifying if buyer is financing. I'm an ex-pat and don't remember the procedure back home in the UK. With your X1 paid for, you're in a great position and be sure not to let it go too cheap. You're in control.

[ttimbo]

I went through this recently selling our X1. I'm in Australia, so different geography and market....but globally, at present, there is a shortage of new cars due to COVID affecting suppliers of various components (especially semi-conductor chips) to the the carmakers, and factory shutdowns. This has lead to price rises here of c.30%+ in the used car market over the last 12 months. Dealers and the buyer groups such as you mention need stock, and are driving that demand. Of course, you can still get more selling privately, but there are all the risks you mention.

I sold to a buyer group. The price offered was within 5% of what I thought I'd get privately but most importantly, the buyer group made the whole process easy: vehicle inspection at my house; contract signed electronically; funds transferred to my bank account overnight; and car collected from my home by a transporter. Sooo much better than the various jet pilots, tyre-kickers, shifties and numpties you have to deal with when selling privately!!

Best thing is to get a few of the (reliable and trusted) groups interested (including your dealer), and then have them compete on price — bearing in mind they'll need to make a profit, so not too greedy.

Hope that helps and is relevant in the UK.

[Bill_P]

Hi Clive

I have mostly always part exchanged in the past, apart from my last two sales - one went to a known friend the other was a sale on Autotrader.

The one on Autotrader rang ALL the alarm bells - first call within 5 mins of pacing the add, in fact I had not been able to refresh and see the ad myself before the phone rang (I thought it must be Autotrader checking something). Quick chat about history and condition, then very quick barter over £100 or £200 pounds off £2300 and then guy said he wanted it and would come from London to Southampton next day to collect. He wanted to pay £200 deposit to my bank account so that I would not sell to someone else.

And this is why I am posting this - every Alarm Bell was ringing but I had to do something - then I remembered that I have a Current Account with a second bank that I very rarely use and only keep about £200 in. Also I am set up to do very quick transfers from that account to my main account. So I gave the guy those details and when he said he had done the transfer I logged in, checked the money was there and immediately transferred it out (then told him it had arrived OK). His travel plans kept changing so more alarm bells but he did turn up as promised and didn't even go for a test drive - just ran it on the drive. Then he transferred the balance - I went off to check it had arrived (and transferred it out) - then off he went happy as Larry.

Without that second bank account I would have been very worried but in fact it was all OK. He was buying for his sister and she had an alert set on Autotrader to flag when that make and model came up for sale. They were from South London and he said there were too many crooks to buy anything local (sorry South London).

So my point is - if you decide to sell private then make sure you have a similar plan to protect the payment before you let the car go.

Best of luck

Bill

[plagm]

We just got rid of our 20d Msport in october, end of pcp value was £14,500, so at month 46 of 48 i decided to see if i could sell it and make a little profit.

I advertised it for 17, then 16,500, a week before it was going i even tried 15.500, £1000 in my pocket was better than BMW's.

Dealer not interested in part ex as they said they would not make any money(buying an X3)

Its very odd, i have never had so much difficulty selling privately.

The few calls that i got were telling me it was overpriced etc..i was saying genuinely i wanted to make a a little from the sale and if they wanted to wait a few weeks they could happily find it on a BMW forecourt for several £1000 more.

anyway 4 weeks later it was on the BMW website for .....wait for it..... £21,500....

when you receive large sums talk to you bank before for advice, they will tell you if the money safe if a transfer is done and the best way to do it, no cash no cheques.

[ralphclark]

Where did you advertise it?
I'm struggling to find any ads from private sellers, everything is trade. I'm sure it didn't used to be this way.

[CliveL]

Thanks for the advice so far. I think I'll contact my bank and ask their advice for potentially receiving a large bank transfer.

I've had offers of between £15,000 - £15,750 from WeBuyAnyCar, Motorway and my local BMW dealership, who did actually say they were interested in buying it, and even agreed when I said it would probably be on their own forecourt for £18-£19k straightaway. I don't know if I'm just being a little greedy, but I don't see why they should make over 3 grand for minimal effort, so that's why I am considering the private sale option. And I'm not thinking about "forecourt" prices but something a little lower.

I've got a neighbour who's ex-police and said he was happy to be around during a test drive, hold their own keys and generally sound out a potential buyer, so that's a bit of reassurance. I guess it can't hurt to float it on AutoTrader and see what happens. I suppose there are genuine people out there who just want a quality family car

[Peter_R]

Originally Posted by CliveL

but I don't see why they should make over 3 grand for minimal effort, so that's why I am considering the private sale option. And I'm not thinking about "forecourt" prices but something a little lower.

A dealer has to provide a warranty and of course, there is VAT to consider. Also, the dealer has to tie up money and if it takes longer than usual to sell, then it is dead money to the business. With many BMW dealerships, if the car is not sold within a specified length of time, it goes to auction if it is over 3 years old.

[plagm]

Originally Posted by Peter_R

A dealer has to provide a warranty and of course, there is VAT to consider. Also, the dealer has to tie up money and if it takes longer than usual to sell, then it is dead money to the business. With many BMW dealerships, if the car is not sold within a specified length of time, it goes to auction if it is over 3 years old.

I agree to a point but the final value on my car was £14.500, it was on a 48k mile pcp and it went back with just 35k (lockdown milage)so they were winning as i had paid more per month for 4 years than i needed to and also it should of been worth more due to the lower milage, but this was not enough for BMW to offer decent part ex.

People need to understand if a private buyer is selling prior to handing it back it has to have a services up to date, good tyres, and bodywork has to also be good or you are charged to correct these things. You are getting the same car bmw will sell a few weeks later for much more, in my cars case £6000 pounds more than i would sell it, It had good tyres was immaculate and no service was due for 20 months, to sell this car BMW were doing nothing. but loaded the price by £6k, buy a 1 year warranty for what £500.....

We pay a lot for our cars so to make a few quid at the end is completely fair and in my case i kinda deserved a little pay back for the low milage and monthly overpayment (if i adjusted the milage i would of paid around £1250 less over the 4 years)

I like buying from private buyers, for example i owned the car for 4 years, i knew everything about it, we looked after it, it was a good second hand buy. Ask me anything and if you trusted what i said you would buy. I class myself as a good judge and if anything feels wrong simply walk away.

I have looked at cars on dealer forecourts and been told two entirely different stories about the same car by two different sales people. This isn't saying they are all liars but they don't i really know much at all about the car at all, they also know what we want to hear.
I once bought an approved used BMW 3 coupe off BMW forecourt, told, 1 owner, was part ex as last owner bought new car from them etc etc.....later discovered they bought it from an auction and it was damaged and they repaired it, it had had the whole rear quarter replaced, pulled the rubber door strips off and you could see the new welds and unprotected angle grinder cuts, rear bumper , lights etc looking behind there interior trim it was all unpainted and unsealed......

2 days after buying i got my money back, they even said it was an old repair and they didn't have to give me the money back it was just good will, i got a body shop report detailing it was new repair/damage done within the last month or so, they had had the car for 3 months.....FYI dealership in Derby...

trust the person not the brand...ask the right questions, if it feels off walk away.

[Peter_R]

Originally Posted by plagm

I agree to a point but the final value on my car was £14.500, it was on a 48k mile pcp and it went back with just 35k (lockdown milage)so they were winning as i had paid more per month for 4 years than i needed to and also it should of been worth more due to the lower milage, but this was not enough for BMW to offer decent part ex.

People need to understand if a private buyer is selling prior to handing it back it has to have a services up to date, good tyres, and bodywork has to also be good or you are charged to correct these things. You are getting the same car bmw will sell a few weeks later for much more, in my cars case £6000 pounds more than i would sell it, It had good tyres was immaculate and no service was due for 20 months, to sell this car BMW were doing nothing. but loaded the price by £6k, buy a 1 year warranty for what £500.....

We pay a lot for our cars so to make a few quid at the end is completely fair and in my case i kinda deserved a little pay back for the low milage and monthly overpayment (if i adjusted the milage i would of paid around £1250 less over the 4 years)

I like buying from private buyers, for example i owned the car for 4 years, i knew everything about it, we looked after it, it was a good second hand buy. Ask me anything and if you trusted what i said you would buy. I class myself as a good judge and if anything feels wrong simply walk away.

I have looked at cars on dealer forecourts and been told two entirely different stories about the same car by two different sales people. This isn't saying they are all liars but they don't i really know much at all about the car at all, they also know what we want to hear.
I once bought an approved used BMW 3 coupe off BMW forecourt, told, 1 owner, was part ex as last owner bought new car from them etc etc.....later discovered they bought it from an auction and it was damaged and they repaired it, it had had the whole rear quarter replaced, pulled the rubber door strips off and you could see the new welds and unprotected angle grinder cuts, rear bumper , lights etc looking behind there interior trim it was all unpainted and unsealed......

2 days after buying i got my money back, they even said it was an old repair and they didn't have to give me the money back it was just good will, i got a body shop report detailing it was new repair/damage done within the last month or so, they had had the car for 3 months.....FYI dealership in Derby...

trust the person not the brand...ask the right questions, if it feels off walk away.

So your beef is that any dealer will make a profit. A large one at that! Such is life and the way of the world, unfortunately. If you are unhappy going to a dealer then sell it privately. Simple really.

[Jorix]

The only reason, you wouldn't sell the car privately, is if you need the money urgently. You will always get the best price from an end-customer.

[dianebrat]

Originally Posted by Jorix

The only reason, you wouldn't sell the car privately, is if you need the money urgently. You will always get the best price from an end-customer.

Good point but you left out the reason I view as most important, and that is not dealing with having to deal with buyers and the selling process myself, for me it's worth giving up a few $k in cash to have the dealer handle it all.

[wcs2229]

"HAMILTON – Two Ontario men have been found guilty of first-degree murder in the killing of Tim Bosma, who disappeared three years ago after leaving home with two strangers on a test drive in a truck he was trying to sell online."

https://www.macleans.ca/news/canada/...l-in-hamilton/

[Jorix]

Originally Posted by dianebrat

Good point but you left out the reason I view as most important, and that is not dealing with having to deal with buyers and the selling process myself, for me it's worth giving up a few $k in cash to have the dealer handle it all.

Well yes, maybe it is different across countries. In Bulgaria, at least, the buyer has to deal with everything, such as insurance, registration etc. You as a seller basically just have to sign the papers and that's it.

[plagm]

Originally Posted by Peter_R

So your beef is that any dealer will make a profit. A large one at that! Such is life and the way of the world, unfortunately. If you are unhappy going to a dealer then sell it privately. Simple really.

what beef ?

pros and cons of private vs dealer..........

[plagm]

Originally Posted by Jorix

Well yes, maybe it is different across countries. In Bulgaria, at least, the buyer has to deal with everything, such as insurance, registration etc. You as a seller basically just have to sign the papers and that's it.

Same in the uk its very simple,

if you want to make a few £k then sell it yourself, you have to accept it's not free you have to put some effort in, if not dealer all day long.

each to their own. i am happy spending £30 advertising a month or so before car gets swapped, if i make a profit thats great if i don't it goes to the dealer

a few years ago i sold a VW at the end of 4 year PCP and made enough money for us to go to Mexico for Christmas for two weeks, buyer was very happy as in their view they had saved £2500, they even know how much i made and was going to pay for a holiday.

This buyer had even been told of a car that was coming to the VW in the next weeks and how much it was, Yup my car (yes we knew for sure)........as i was picking up a new car from that dealer.

[BobbyGrant]

For a car of this value, as a private seller, you need to set ground rules in your advert. Not enough to scare someone off but enough to let any genuine prospective buyer know that you will be serious with all dealings.
List everything about the car , the options etc. Quote the prices the dealer is mentioning. Design the wording to convey your history of ownership eg all 4 tyres replaced even though plenty life left in rears.
Take loads of photos. Highlight any faults/issues no matter how insignificant as it builds up the picture eg note this scuff on the black plastic trim in the boot when my missus dropped her golf clubs - that sort of thing. Personalise it as much as possible.
Do you have kids / car seats / buggies? If so extol the virtues of the car as the propspective buyer might be in the same situation.
If , like mine, it has the "Y" shaped alloys explain that they are the easiest wheels to clean.

In summary, hammer it with as much detail as possible. Dont give it dealer speak, make it personal and you will get a buyer.

[CliveL]

Well, after 2 weeks on AutoTrader I had a couple of calls from "brokers", i.e. middle men who wanted to mark it up and sell it on, and quite a few from dealers/traders. But no actual private buyers sadly. In the end I've sold it today to my local dealer that I bought it from new back in 2016. I got a couple of grand more than the finance that I cleared in February, so in that respect I'm fairly happy. I've set an AutoTrader search alert now to see what they put it on their forecourt for I did manage to cancel the remainder of the warranty and temporary insurance which netted my another £100, but today marks the end of just over 18 years of continuous BMW ownership of various models (E39 540i (loved that car!), E39 530d Touring, E61 530d Touring, F48 X1 20i)

I'm enjoying the toys and frugality of the new Ford Kuga Vignale PHEV which will hopefully do well for us for the next 3 years, but I may be back one day...

Thanks for the advice on this thread, and all the help over the last 4+ years on this forum.

Take care,
Clive

[MJE60]

Originally Posted by CliveL

Well, after 2 weeks on AutoTrader I had a couple of calls from "brokers", i.e. middle men who wanted to mark it up and sell it on, and quite a few from dealers/traders. But no actual private buyers sadly. In the end I've sold it today to my local dealer that I bought it from new back in 2016. I got a couple of grand more than the finance that I cleared in February, so in that respect I'm fairly happy. I've set an AutoTrader search alert now to see what they put it on their forecourt for I did manage to cancel the remainder of the warranty and temporary insurance which netted my another £100, but today marks the end of just over 18 years of continuous BMW ownership of various models (E39 540i (loved that car!), E39 530d Touring, E61 530d Touring, F48 X1 20i)

I'm enjoying the toys and frugality of the new Ford Kuga Vignale PHEV which will hopefully do well for us for the next 3 years, but I may be back one day...

Thanks for the advice on this thread, and all the help over the last 4+ years on this forum.

Take care,
Clive

Best wishes to you.