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Selling a like new car

Selling a like new car

Old Jul 23rd 2010, 4:06 am
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Question Selling a like new car

Hi folks,

I am selling a like new BMW in NV. I still owe some money on the car but the price that the dealership is offering is just crazy - so low.

I'm pretty new to the car market of the US, does anyone by any chance have a better suggestion to sell the car at the right (or at least better) price?

Cheers,
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Old Jul 23rd 2010, 4:09 am
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Default Re: Selling a like new car

Take a look at these 2 sites.

NADA http://www.nadaguides.com/

Kelley Blue Book http://www.kbb.com/?trid=2&psid=2-17...2511_1&sissr=1

You can get the book value at those sites.
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Old Jul 23rd 2010, 4:15 am
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Default Re: Selling a like new car

Thanks buddy. Considering the money we owe, is there any way to sell the car to a private buyer? or it has to be sold to a dealership or carmax etc.?

Cheers,



Originally Posted by sime303 View Post
Take a look at these 2 sites.

NADA http://www.nadaguides.com/

Kelley Blue Book http://www.kbb.com/?trid=2&psid=2-17...2511_1&sissr=1

You can get the book value at those sites.
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Old Jul 23rd 2010, 4:56 am
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Default Re: Selling a like new car

Originally Posted by Barbitana View Post
Thanks buddy. Considering the money we owe, is there any way to sell the car to a private buyer? or it has to be sold to a dealership or carmax etc.?

Cheers,
You can sell to a private party -- but you'll need to use an escrow. It's easiest if the private party is getting a bank loan for the car -- the bank will usually act as the escrow agent.
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Old Jul 23rd 2010, 6:44 am
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Default Re: Selling a like new car

Originally Posted by Barbitana View Post
Thanks buddy. Considering the money we owe, is there any way to sell the car to a private buyer? or it has to be sold to a dealership or carmax etc.?

Cheers,
Yes, that is done all the time if a person wants to get a decent price.

You can sell to a private party -- but you'll need to use an escrow. It's easiest if the private party is getting a bank loan for the car -- the bank will usually act as the escrow agent.
I've sold many cars and have never used an escrow as long as the person pays by certified check or cash.

If the purchaser is getting a loan, then his lender will work with your lender to transfer title. If he is not getting a loan, both of you will have to go to your lender to pay the bank prior to them releasing the title.
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Old Jul 23rd 2010, 10:06 am
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Default Re: Selling a like new car

I bought my 2 year old BMW in Las Vegas off Craig's List. Also bought a 5 year old VW too, same way.

It took a few tries with some of the listings.. But I got the car cheaper than a dealer, and a lot of folks in lots of US cities do this on CL.

When placing the advert, be reasonable, be available and be ready to dicker. Only accept cash.

Lots of Americans buy cars privately, tons more than in the UK (at least in my experience buying and selling cars in the UK - its a totally different mindset.)

Good luck!
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Old Jul 23rd 2010, 12:21 pm
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Default Re: Selling a like new car

Originally Posted by Barbitana View Post
Hi folks,

I am selling a like new BMW in NV. I still owe some money on the car but the price that the dealership is offering is just crazy - so low.

I'm pretty new to the car market of the US, does anyone by any chance have a better suggestion to sell the car at the right (or at least better) price?

Cheers,
... e90?

Are your surprised?? The dealership IS a business afterall,... there to make a profit and not to pay you 'retail' value of your car. But, you could also try a consignment with a dealership, they could also handle the paperwork; they'll charge you either a flat fee or percentage of the sale etc. Basically, they'll try and sell it for/with you.

I'd also post it on some of the bmw forums out there, they might have a classified section.
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Old Jul 23rd 2010, 12:40 pm
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Default Re: Selling a like new car

Talk to me.....
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Old Jul 23rd 2010, 1:14 pm
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Default Re: Selling a like new car

Originally Posted by Terry Tibbs View Post
Talk to me.....
Oh... this'll be good. I've got the popcorn!

Ian
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Old Jul 23rd 2010, 1:33 pm
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Default Re: Selling a like new car

Originally Posted by ian-mstm View Post
Oh... this'll be good. I've got the popcorn!

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And there was me thinking today would be boring!
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Old Jul 23rd 2010, 3:30 pm
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Default Re: Selling a like new car

Have you tried carmax? http://www.carmax.com/enUS/carmax-locations/NV.html

I've sold two cars with them, but not sure how they deal with the outstanding finance issue. The prices I've been given have always been fair, much better than the stealers price (even for a trade in).
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Old Jul 23rd 2010, 4:44 pm
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Default Re: Selling a like new car

I thought all pre owned cars are like new?

Easy enough to check what they are going for in your area and go from there.
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Old Jul 23rd 2010, 5:17 pm
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Default Re: Selling a like new car

Originally Posted by Michael View Post
I've sold many cars and have never used an escrow as long as the person pays by certified check or cash.
The issue here requiring escrow is that there are 3 or possibly 4 parties: Barbitana, Barbitana's lender, the buyer, and possibly the buyer's lender.

Presumably you had no lien on the car and you were selling it to someone who didn't need a loan.
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