Selling cars

[MA_Moby]

I'm thinking of selling my car, a T reg Mazda MX5 1.8 (dark blue) so that I can use some of the proceeds to buy a share in an aeroplane (and use the left overs for something reliable to get me to and from the airfield).

The trouble is I've never sold a car privately before and finds the whole idea a little indimidating. What are the various pit falls I should watch out for? Should I wait for cheques to clear before handing over keys and paperwork, or demand a big bag of cash (to be robbed as i go to the bank)? And what are the options for selling over the internet privately? What about test drives and insurance considerations?

Any advice welcome.

[dkmech]

Insurancewise - its up to you to refuse to let them have a go if they have no insurance for it. You can drive the buyer yourself and let them have a go in a car park. Even if they are insured it will probably be 3rd party only. If you do accept a cheque make sure some of it is paid with a cash deposit. Cash is better though. And i am sure you'll be fine taking it to the bank, get someone to come with you if you are scared

[J4MES]

I'm thinking of selling my car, a T reg Mazda MX5 1.8 (dark blue) so that I can use some of the proceeds to buy a share in an aeroplane (and use the left overs for something reliable to get me to and from the airfield).

The trouble is I've never sold a car privately before and finds the whole idea a little indimidating. What are the various pit falls I should watch out for? Should I wait for cheques to clear before handing over keys and paperwork, or demand a big bag of cash (to be robbed as i go to the bank)? And what are the options for selling over the internet privately? What about test drives and insurance considerations?

Any advice welcome.

1. put it on autotrader (website and magazine) at a realistic price, and hold your nerve before lowereing it (like 4 weeks) - unless you're in a hurry to sell, a buyer will turn up... look at what similar cars are going for, and compare with parkers/glasses guides

2. clean it, and have all the paperwork to hand (basics, but it makes a difference). don't sign the V5 over untill funds have been exchanged (in full)

3. don't accept a cheque - a bankers draft is preferable (a cheque from his/her bank, so won't bounce as it's the banks money from his account) or maybe cash (but it'd be a lot)

4. take them on a test drive, unless they can prove they're covered - it's not worth the risk

5. don't put it on ebay - a '5 of your's age won't get what it's worth...

6. expect to haggle, but be prepared to say no if it's not what you're after

thats all for now... good luck
having owned 2 of these, they tend to sell themselves if they're good 'uns

[J4MES]

from parkers:

Mazda MX-5
1.8i 2d (98) 1999/T
Average mileage: 50,000 miles

Cost New ('99)
£ 16655
Dealer Retail
£ 7290
Private Good
£ 6690
Private Poor
£ 5320
Part Exchange
£ 5675

so depending on: condition (damage/wear), mileage(verified), service history(recent service/work done), number of owners etc. ask between £5.5k and £6.7k...

[J4MES]

there's a useful page here at the AA site, worth a read...

[Raz316]

I didnt really enjoy selling my car privately, ill never do it again if possible. I went the full whack when I did it, had it checked over by a garage for proof that it's fine, insured myself and one unnamed driver for the shortest time possible, which was a month X/ It did however make the test drive fully legal and gave him the chance to drive it away if he wanted (he did ) I also said to the person that bought it that he had two weeks to return it if for whatever reason he wasnt pleased with it at all.

Thank god he didnt!

[MA_Moby]

cheers J4MES, all really useful

I think it'll fall into the private good catagory, good milage too at about 38,000.

that'll give enough for the plane, plus about 2+ grand to buy another car (which should mean it won't be too minging).

[J4MES]

I didnt really enjoy selling my car privately, ill never do it again if possible. I went the full whack when I did it, had it checked over by a garage for proof that it's fine, insured myself and one unnamed driver for the shortest time possible, which was a month X/ It did however make the test drive fully legal and gave him the chance to drive it away if he wanted (he did ) I also said to the person that bought it that he had two weeks to return it if for whatever reason he wasnt pleased with it at all.

Thank god he didnt!

I wouldn't bother to pay extra to insure potential buyers tbh, if they're serious they'll sort their own out (many people have 3rd party cover anyways)

I also wouldn't offer any comebacks - sell it 'sold as seen' (as, privately, you have no requirement to offer a 'warranty', implied or otherwise. you do have to be honest though...)

[J4MES]

cheers J4MES, all really useful

I think it'll fall into the private good catagory, good milage too at about 38,000.

that'll give enough for the plane, plus about 2+ grand to buy another car (which should mean it won't be too minging).

for £2K you could get a nice early (1990-1) '5...

[MA_Moby]

i dunno - as much as I've loved the MX-5 as a driving car I'm getting pissed off with always having to plan what I can and can't fit into it!