Your Results From Private Party Sales

[holy triumvirate]

Has anyone had any luck with selling to (or buying from) a private party? Looking to sell mine and wonder if the private market is more lucrative than selling to retailers. I know the real answer is "it depends", but I'm curious if others have first hand experience to share.

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[710-oil-614]

Do you have a car note? If you do - selling privately can be a real pain the ass.

 

[holy triumvirate]

Do you have a car note? If you do - selling privately can be a real pain the ass.

I do but am not really concerned about that. Ive sold and bought private a few times and understand the process.

I'm wondering if anyone has any thoughts on whether private buyers for the Mav seem to be willing to take a slight discount from a private seller compared to paying slightly more from a retail seller. As the seller, I know I can clear more profit from a private sale. Just wondering if anyone has done it and what kind of interest they got in the market.

 

[Montana]

I've sold 2 out of 3 vehicles privately in the past couple years.

In fact, the only reason I traded one in was because of the market during COVID and I got $3k more than when I bought it new, even after 14k miles and a year and a half of ownership.

Personally, I'd rather deal with the headache of private sales simply for the profits. I'm not one to shrug off losing money for simplicity in this sense, especially if I was financing because the likelihood of having to roll over negative equity is high so you'd also add interest to that. If that's the case then it's a hard no from me.

Of course, there are reports of people still selling to online buyers for a profit, but it's very location based, increasingly rare, and they are just that - reports. No actual proof. Initial offers you see posted randomly are not proof and the likelihood of adjustments being made to those offers is also high once the inspection takes place. Obviously, if you can profit off a trade in or selling that way, then why not? The question is can you and is it worth the headache of dealing with the same thing from someone who's job it is to low ball you.

Good luck on whatever you chose.

 

[OB1e]

All depends on who you find as a buyer. Not having title in hand I would never buy from a private seller unless there was a massive discount. Find out what CarMax would give you for the truck, add a few grand and post it online. If you have no one interested in a few days, hand it over to CarMax and be done with it.

 

[Oscarcat]

I have never traded a vehicle - always sold mine privately and never had anyone come back on me to say I sold them a problem. I always have title in hand so that helps. I personally spend a few hours detailing before I advertise it. One problem with the Mav is you may get lookie-loos who just want to try out a Mav for their first drive. Do your homework, find similar [i.e. XLT hybrid with similar mileage] and print out to show proof of the savings. Price lower than the dealers. I don't talk price on the phone before they have seen it. Be prepared to wait - it may take a couple of weeks. You have to schedule when they are available but I would only do it in daylight hours. Ask to see a valid driver's license before they drive it and always accompany them on a test drive. Be prepared for people who say they will come but don't show up and don't text or call to cancel. If you live in a rural area off the beaten path that adds a layer of difficulty. If you accept an offer, write it down on paper and put a deadline by which the transaction must be completed. Get a token deposit like $100 and note on the paper it is non-refundable if they don't complete the transaction by the given date. If they must finance, that adds a layer of delay. Once you have the agreement on paper, take a photo of it with your phone or let them photo it with theirs. My '24 hybrid is scheduled so I will be following what I wrote with my '22 Lariat EB once I see the whites of the '24's headlights parked in my garage.

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