buying and selling tips

[jackcramerr]

Hi All

 

I am thinking of buying one car and selling it for profit. 

Now I can get one for cheaper than what trade sell it for. But the question will be if I will manage to sell it.

The disadvtange I have is I cannot offer finance. How much off putting is this?

The car I am looking at still has warranty on it. What else is there as a risk?

Thanks.

[steveledzep]

I have sourced my last six vehicles via eBay and disposed of the old one through the same route.  My vehicles for sale have always sold within a day or two.

I believe the secret is to describe very accurately (warts and all) with loads of good quality photographs.

I wouldn't expect lack of finance facilities to hinder as bank loans are readily available at the click of a mouse.

Depending on the value of the vehicle, I suspect lack of part exchange facility may hinder.

You going to tell us what car ?

Good luck jack.

[rayaans]

Generally it depends on the car you've seen and the condition.

If its fair condition, then most buyers will snap it up regardless of whether the seller can offer finance, especially if its a private deal.

It also depends on the value of the car - its always going to be much harder selling a £50k car than a car less than £5k.

If the price is right and the condition of the vehicle is fair (buyers love a full service history, shiny tyres and a generally clean car but dont usually bother with stone chips and light scratches) then it'll get snapped up, especially if its a desirable car

[madasahatter]

I agree with steve when i purchased my vehicle i part exchanged, and payed the rest in cash. Depending on price i normally pay cash or bank transfer.

[ahmedali44]

If u got patience and finance available go on copart they sell damaged cars, if ur know about cars then that is best place but only buy cat d as they are repairable with less damage. Any small Honda civic, jazz Toyota aygo , hyundai i10,i20 r easy to sell due that cheap to run tax etc.if u can bothered to sit on laptop and bid like eBay.buy it drivers u want and put on sale.go for it

[jackcramerr]

Thanks all.

 

The car I am looking at is a MB. valued at 25k. Had almost.all the buttons. 2.0 petrol auto.

[Bluesman]

An MB!!!!!!!!!!!!! Go and wash your mouth out.

 

[rayaans]

19 minutes ago, jackcramerr said:

Thanks all.

 

The car I am looking at is a MB. valued at 25k. Had almost.all the buttons. 2.0 petrol auto.

You're going to have trouble shifting a 2.0l petrol Merc tbh with you, does depend on the model though. Everyone wants diesels nowadays

[steveledzep]

23 minutes ago, jackcramerr said:

Thanks all.

 

The car I am looking at is a MB. valued at 25k. Had almost.all the buttons. 2.0 petrol auto.

I'd be very concerned trying to shift a £25k motor without being able to offer p/x.  Under £10k lends itself to private sales in my opinion.

Not sure that everyone wants diesels, there's been some bad publicity in recent months concerning the emissions on diesel engines.

[jackcramerr]

yeah.. so thats another worry. selling a 25k car.

it is an E200. on top of that an amg and a sport version. Looks pleasing to the eyes so it has a plus point there.

I am ok with part exchange as it just means more money to be made.

[jackcramerr]

Blues: I cannot afford to keep one or fix one so I drive a lexus.. :)

Plus 2.0 ... nah.. I am never going below 2.5 6cyl. next has to be 3.5 8cyl or more 

 

I know there are people here who have done what I intent to do. Best place to ask I guess.

[Gramera flash]

My number one rule is you have to convince the potential buyer that the vehicle has been lovingly cared for, so you have to be really anal and clean and polish thoroughly 

[rayaans]

1 hour ago, jackcramerr said:

Blues: I cannot afford to keep one or fix one so I drive a lexus.. :)

Plus 2.0 ... nah.. I am never going below 2.5 6cyl. next has to be 3.5 8cyl or more 

 

I know there are people here who have done what I intent to do. Best place to ask I guess.

The E200 is a niche market.

E's are usually (if not always) diesel. The E200 is pretty sluggish. The smallest engine would have to be the E220 CDI and the only reason is because its got a lot of torque. I think the E200 replaced the E240 but even then, its still pretty darn slow at 0-60mph in 10s. With the lack of torque as well, it'd be pretty sluggish and buyers aren't going to want a sluggish big saloon.

[jackcramerr]

Gramera That won't be a problem. 

rayaans ... yeah it is slow. 2.0 petrol... But that is the average car is. I moved from mazda 3 2.0 sport to lexus is250... Having said that... I have no clue about market... I think girls will prefer a 2.0 merc. low tax and merc badge. double pan roof and all.

[rayaans]

1 hour ago, jackcramerr said:

Gramera That won't be a problem. 

rayaans ... yeah it is slow. 2.0 petrol... But that is the average car is. I moved from mazda 3 2.0 sport to lexus is250... Having said that... I have no clue about market... I think girls will prefer a 2.0 merc. low tax and merc badge. double pan roof and all.

Just realised you said £25k so it must be the one before the newest shape right? That's actually not a slow car but they're insanely rare.  Some don't even know about them

[jackcramerr]

yea. a 2014.

Yes. you cannot find them many on autotrader...not sure why... maybe because it is still new ?

 

[Vintagesixtysix]

The only thing I'd chip in as maybe price risk or time risk to sell is that MB do a lot of finance around the base models ( I mean engine size not trim) on E class including some stonking lease deals. At £25k price it's a big layout vrs one of these deals. You could get stuck between the two.

Hope that makes sense.

If you decide to go with it...... Good luck & hope it goes well.

Sent from my iPad using Lexus OC

[jackcramerr]

I am getting general feeling thatit is risky.

Just on that point, cant one buy and rent them out ? 

[steveledzep]

4 minutes ago, jackcramerr said:

I am getting general feeling thatit is risky.

Just on that point, cant one buy and rent them out ? 

That's a business.  Would you rent your home out, furnished, to any Tom, ***** or Harry ?

[steveledzep]

Haha !  Tom, Richard or Harry !!!!!

[rayaans]

1 hour ago, jackcramerr said:

yea. a 2014.

Yes. you cannot find them many on autotrader...not sure why... maybe because it is still new ?

 

It's because they aren't very popular. Executive cars usually are diesels and especially MBs. 

Id suspect the price reflects that

[jackcramerr]

steve: if it makes money not carin who drives it. :)

rayaans: makes sense. esp diesel is loved in UK.

But does that mean this car will not sell from my hands at all? We are all sensible here and I wouldn't but it for myself but... when people buy cars they do not buy it for any other reasons than low tax, new plate, and most importantly "fell in love as soon as they saw it".

[Vintagesixtysix]

Re buy it & rent it out.

You would have to be able to get the vehicle very very cheaply to make it work.... If you can buy it that cheap without finance ...... You may as well take the chance on flipping it rather than hire it out.

These are the general points on commercial hiring ( from experience!)

- If you're using personal ( not business) finance to buy the vehicle then you know it will say no hire / third party stuff.

- commercial insurance is ridiculous nowadays and only viable on larger fleets. Most half reasonable policies from brokers are only offered on 5+ vehicle terms...... Depending on vehicle type & usage expect that to be north of £3k

- As a newbie expect them to as for a business plan ( yes your insurer will ask )

- it's a very competitive market.... £ margins are poor..... Unless you have scale to bargain up front on vehicle intake price.

- car hire business make their money from Astra, Insignia, Leon, etc..... Not MB or BMW etc.

- add late returners & people who think a hire car is just there to have the bo**cks thrashed off them + daily fall outs over scuffs and knocks.

- you need to factor in breakdown & if your car is off the road you will be duty bound to hire them another vehicle if they are mid hire.

- you can't hire purchase it legally to anyone without having a consumer credit license for those values.

I promise you it's just not worth it at that scale...... I know everyone started somewhere but if you like that idea & got a bit of spare cash flow..... Go down the light commercial van route first as its a much wider market and see how you go.

Sent from my Iphone using Lexus OC

[madasahatter]

Look on auto trader and other places, cars of that value are on for months. Exception its got all the toys, right colours inside and out.

Right wheels and the list goes on. You may like the colour combination others may not? Just be careful same as our cars we all look for something?

I love heated and cooled seats you may not. So not a selling point to you if you get what im saying.

[steveledzep]

13 minutes ago, jackcramerr said:

steve: if it makes money not carin who drives it. :)

Phil summarises what was behind my point :

 

"- add late returners & people who think a hire car is just there to have the bo**cks thrashed off them + daily fall outs over scuffs and knocks. "