Might have to sell the AMG......

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T9JVG

New Member
Joined
Dec 19, 2016
Messages
14
Car
C63 AMG
Morning all,

Can't believe I'm having to write this but after a year of incredible ownership I'm faced with the very real prospect of having to sell the C63. It's a vicious culmination of events including a building project that has eaten through it's budget, overspend and my savings, parenthood being more expensive than planned (but amazing) and the car being a little more expensive to run than anticipated (but also amazing). Clearly I need to work on my financial planning capability..... :fail

Anyway, I thought I'd ask you good people for some advice, mainly on pricing and also how to sell it....

The car is a May 2014 iridium silver saloon, on 18's with few options above standard spec. It's on 35k miles and (once I have one of the wheels refinished) will be immaculate come sales time. It also has a full year of AUC Merc warranty - I hope this would provide piece of mind to the next buyer, if not any value. What pains me the most about this is that these cars don't appear to be depreciating that much, so the actual cost of ownership really wouldn't be that high - I just need to release the capital in it.

I've had a look on autotrader and 2014 cars range from 31k (higher miles) through to about 36k (<10k miles) and are mostly at dealers. Is it worth trying to sell it privately? What price would people here consider putting it up at? Alternatively, would trying to find someone to SOR it be a better bet?

Secondly, I've never sold a car upwards of £10k before. What is the best way to take payment? I'm lucky enough to live a ten minute walk from my bank so was considering just walking in with any potential buyer and getting the funds deposited there and then? Obviously thinks like insurance for a test drive are a pre-requisite.

Lastly, if anyone on here is in the market for something like this do let me know - just don't be offended if I don't take your advice on what to sell it at :thumb:

Thanks

T9
 
Hi - I use a guy near Manchester - he will sell you car for £500 plus the train fare if he has to pick it up . This includes advertising , insurance once you've handed over , necessary valets etc - sold maybe 5 cars this way - it's worth it as it's hassle free . Pm me if you want details - cheers
 
I sold my low mileage C63 estate last month through Tootle. Got a very good price from Revilo Automotive who are in the North somewhere
 
I have sold most of my cars through e-bay...no problem.

Money wise, just use your head...Cleared Funds before keys !
 
T9jvg

Be very careful how you deal with large denomination transactions.

Cheque - forget it - you cannot be serious!

Bankers Cheque - forget it. The banks have 6 weeks from you depositing the BC before it remains safely in your account but if they detect fraud or irregular behaviour, they can (and will) deduct the whole amount from your account weeks later.

Western Union money transfer - are you joking?

Large monetary deposit in a bag! - Try it. You might be lucky, you might not. Depends on the bank you're dealing with. I dealt with HSBC at the time. Walked into the bank with £13k in a bag and said - credit my account please? They said - No.
The manageress stated they needed to go through a rigorous check list to see if the money is being laundered and it wouldn't happen quickly. I said - can you tell me at what limit you decide the amount qualifies for laundering checks. She said - I'm afraid I can't tell you that Sir. I said, I am going to walk out of here and walk back in with £5k in a bag, is that OK. She said - yes! So I walked out and in - three times! Pathetic.

E-Bay - This site is attracting an unusual amount of hacking of late. My account was hacked about a year ago and I sold 5 camper vans and a motorcycle within 2 hours of it being hacked and the purchasers had sent deposits to my e-mail address which was being hosted by hackers at the time. Luckily E-Bay did a very good job at recovering my account - don't know what ahppened to all those guys who aprted with their deposits?

I used to work for the police and they told me the ONLY safe way to guarantee that the money remains in your account is to have it electronically transferred. Either via BACS (<5 working days clearance) or CHAPS (immediate but there is a small fee).

Test drive - do not under any circumstances allow the purchaser to drive your car. Your insurance will be invalidated if he/she damages it. Worse still if they stop the car and tell you to get out at the end of a gun or knife - your insurance for theft is null and void. Simply tell the guy that you will be driving throughout until and unless they have valid insurance on the vehicle (and you have verified it). The usual trick is them telling you they have trade cover - yeah right!




Enjoy.
 
Be very careful how you deal with large denomination transactions.

Cheque - forget it - you cannot be serious!

Bankers Cheque - forget it. The banks have 6 weeks from you depositing the BC before it remains safely in your account but if they detect fraud or irregular behaviour, they can (and will) deduct the whole amount from your account weeks later.

Western Union money transfer - are you joking?

Large monetary deposit in a bag! - Try it. You might be lucky, you might not. Depends on the bank you're dealing with. I dealt with HSBC at the time. Walked into the bank with £13k in a bag and said - credit my account please? They said - No.
The manageress stated they needed to go through a rigorous check list to see if the money is being laundered and it wouldn't happen quickly. I said - can you tell me at what limit you decide the amount qualifies for laundering checks. She said - I'm afraid I can't tell you that Sir. I said, I am going to walk out of here and walk back in with £5k in a bag, is that OK. She said - yes! So I walked out and in - three times! Pathetic.

E-Bay - This site is attracting an unusual amount of hacking of late. My account was hacked about a year ago and I sold 5 camper vans and a motorcycle within 2 hours of it being hacked and the purchasers had sent deposits to my e-mail address which was being hosted by hackers at the time. Luckily E-Bay did a very good job at recovering my account - don't know what ahppened to all those guys who aprted with their deposits?

I used to work for the police and they told me the ONLY safe way to guarantee that the money remains in your account is to have it electronically transferred. Either via BACS (<5 working days clearance) or CHAPS (immediate but there is a small fee).

Test drive - do not under any circumstances allow the purchaser to drive your car. Your insurance will be invalidated if he/she damages it. Worse still if they stop the car and tell you to get out at the end of a gun or knife - your insurance for theft is null and void. Simply tell the guy that you will be driving throughout until and unless they have valid insurance on the vehicle (and you have verified it). The usual trick is them telling you they have trade cover - yeah right!




Enjoy.

Sounds like you've really expierenced the but end of selling cars, feel for you man, ive had some hassle but nothing on that scale.
But then again i usually PX my high end stuff and anything i sell private is always sub 10k
 
PayPal for payment. It is instantaneous 24 hours of the day 7 days a week. I sold both my previous cars this way - both on Sundays. Took about 9 seconds for the money to move across.

I'd be looking for 32k ish for your car based on the description here although Iridium is a little bit of a common colour so there will more of them around for buyers to choose from.
 
PayPal for payment. It is instantaneous 24 hours of the day 7 days a week. I sold both my previous cars this way - both on Sundays. Took about 9 seconds for the money to move across.

I'd be looking for 32k ish for your car based on the description here although Iridium is a little bit of a common colour so there will more of them around for buyers to choose from.

Hi,
I would be very wary of accepting payment for a £30k car through PayPal.
It's far too easy for people to scam accounts through PayPal and you could easily find yourself without a car or the money.
Fees are also a bit high on PayPal.
Cash is king - paid directly into your bank account - taking into consideration the money laundering rules (spread it amongst multiple accounts or pay it in to one account in stages).
Cheers
Steve
 
Hi,
I would be very wary of accepting payment for a £30k car through PayPal.
It's far too easy for people to scam accounts through PayPal and you could easily find yourself without a car or the money.
Fees are also a bit high on PayPal.
Cash is king - paid directly into your bank account - taking into consideration the money laundering rules (spread it amongst multiple accounts or pay it in to one account in stages).
Cheers
Steve

Not to get into a debate but PayPal is - aside from Bitcoin - the safest way to transfer money quickly. There are no fees on the withdrawal of funds either - like I said I've done it twice selling cars and many other times for other stuff over £20k. Nothing is risk free of course - taking 30k in cash to a bank would have my knees shaking for sure!
 
Thanks for the advice all, very sage. I know the transaction element is common sense but you can't help get nervous when it concerns that amount of money.

I sold my low mileage C63 estate last month through Tootle. Got a very good price from Revilo Automotive who are in the North somewhere

I had a look at this and the guide price is way low for my liking, c.26k. Will people still look/bid if the asking price is 20% above book?

I'd be looking for 32k ish for your car based on the description here although Iridium is a little bit of a common colour so there will more of them around for buyers to choose from.

Was thinking that ball park but wasn't sure if it would be a little unrealistic given I'm not a dealer? that's also slightly more than I paid.... every cloud and all that

T9
 
Really sorry that you're having to part with your pride & joy. I can't offer any advice but I hope you'll be looking for a replacement in the not too distant future.
 
I would walk to the bank with the guy and get him to do a transfer at the counter. or pay cash into the counter.
 
Sold mine recently, be ready for call after call offering utterly ridiculous 'cash' offers over the phone for collection the same day, nearly gave up as it was several a day. Stuck with it and eventually for a sensible buyer. For payment it was a simple bank transfer on the computer, 5 pounds to make sure the account numbers were correct then the significant balance in 2 payments, instant and no charges.
 
Be careful with PayPal. With certain accounts the money can be paid but then it can be charged back. A lot of scams going about.
 
I would walk to the bank with the guy and get him to do a transfer at the counter. or pay cash into the counter.

I did this with my last car.

They told me we could have used online banking and done and instant transfer which also cannot be reversed.

I prefer going to the bank as a dodgy buyer is perhaps not likely to want to go to a bank with CCTV.

There is easier money to be had I'm sure.
 
For what it's worth, I was offered £28k for mine by an MB dealer, 2013 with a little less miles than yours. I do have a nice list of options, bar a couple (which I can't fathom).

The salesman who I know from way back told me they'd stick it up for £32-33k so, I'd guess that to shift this privately I'd need to be at £31k. That said, the values of this car aren't shifting at all, and I've seen some go up. Yay for cult status I suppose.
 
I did this with my last car.

They told me we could have used online banking and done and instant transfer which also cannot be reversed.

I prefer going to the bank as a dodgy buyer is perhaps not likely to want to go to a bank with CCTV.

There is easier money to be had I'm sure.

I've done this before also as the buyer, I had my card blocked due to fraud so had to take £25k of cash out - went with the seller to his bank, told them what was going on (they were slightly weary as they are only allowed to carry so much cash in branch) but after explaining that I'd just bought the car and showed them a withrawal receipt from my bank, they were fine.

Also bought my current car with cash (£45k) buyer said he was happy to take cash as his bank was overseas and would have been charged a hefty conversion fee.
 
I've done this before also as the buyer, I had my card blocked due to fraud so had to take £25k of cash out - went with the seller to his bank, told them what was going on (they were slightly weary as they are only allowed to carry so much cash in branch) but after explaining that I'd just bought the car and showed them a withrawal receipt from my bank, they were fine.

Also bought my current car with cash (£45k) buyer said he was happy to take cash as his bank was overseas and would have been charged a hefty conversion fee.

I'd be a bit wary of carrying that amount of cash in case of a stitch up on the way to your bank...

When I last sold a car for cash back in 2005, there was no reliable method of accepting payment that I knew of which couldn't be reversed later. It was £18k and I suggested they withdraw the cash in the bank and we paid it straight back in (assuming both banks are the same). I took everything to the bank and signed over the car in the bank!

The guy brought the money with him instead but the rest was the same. Except that 3 x 20s were duff which they confiscated and he had to cough up 3 more!

I never touched the cash.
 
Can't see the problem with payments , anyone with a smart phone can instantly log in to there account, and make a instant transfer to another account, as long as they have the other persons account details, of course
 
I did this with my last car.

They told me we could have used online banking and done and instant transfer which also cannot be reversed.

I prefer going to the bank as a dodgy buyer is perhaps not likely to want to go to a bank with CCTV.

There is easier money to be had I'm sure.

+1 here but the opposite

I went to buy a car and the seller asked me who I bank with and we both met outside that bank to check the car and documents etc and went inside to do a bank transfer over the counter. He verified the money was in his account before he handed the keys over.

I thought that's a very safe way of doing things.
 

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