The Black Z

iTrader: (7)

Should I ask for a safety deposit ($1,000) to cover incase something happens and/or to prove they're really looking to buy and not to "test-drive" for fun?

JDMFairladyZ33

iTrader: (37)

If you do that then nobody will ever want to do business with you. Honestly, when I was younger, my friends and I test drove cars all the time for fun, but we always do it at the dealership. Insurance is good enough. If you meet up with the person it's a good idea to bring a friend for safety and as a witness just in case. When I sold my old car I asked qualifying questions like how long you've been looking...what do you do for a living...do you have your finances in place if you decide that this car is right for you....etc. Generally people who are bsing around won't stick around too long if they have to jump through some hoops.

The Black Z

iTrader: (7)

What's some other questions to ask? And you mean have a friend follow behide the car?

I understand the dealership test-drive but I don't want to draw people who just want to drive it for craps.

What should I do if things get out of hand? (Person drives too fast, starts trying to spin the tires, etc?)

JDMFairladyZ33

iTrader: (37)

When I was selling my old car, everytime I met up with a potential buyer I had a buddy ride with me. I did that for personal safety as well as a witness to back me up if something goes wrong. Once we meet up with the buyer he would hang back with the other guy's car. I would always ask the potential buyer how long they've been looking for the car I was selling and what they intend to use the car for just to pretend like I'm concerned that this is the right car for them. IMO the Z would be a easy car to sell. Before you take them on a test drive show them the car inside and out. Point out all the selling points that sold you when you bought the car. Their reaction to this little dog and pony will show you how much they know about the Z. If you get a guy that hangs on every word you've said and knows what you are talking about then chances are he's been doing his homework. That's good because that would mean he's somewhat serious. Before the test drive I always ask for proof of insurance and valid drivers license. After that I go along with them on the test drive and I always explain to them my terms and conditions. No speed shifting, no launching, and do not go over the speed limit because they don't own the car yet and I'm looking out for their personal safety. During the drive if they break my rules then I give them one warning. After that if they do it again I tell them to pull over and I drive the car back. People who are serious and logical will appreciate you. If you smell a bsing buying then make some excuse and tell them you can't drive the car today because such and such isn't working right.

Edit: When you look at their personal info try to memorize as much as you can. It wouldn't hurt to show your buddy the insurance and license. Also I always memorized the license plate of the car they pull up in.

The Black Z

iTrader: (7)

I was thinking about photocopying they're license and such, I have a photocopyer inside.
Did you have a friend follow you on a test drive?

JDMFairladyZ33

iTrader: (37)

No the photo copyng isnt a good idea. I wouldn't want anybody to copy my info. My buddy stayed behind with the buyer's car. Many times the other guy brought a friend along also for the same reason. You can alway have your buddy hold the insurance card during the test drive.

The Black Z

iTrader: (7)

So have a friend hang around the possible buyers car as well as hold the insurance? Do you have any other good questions to ask that may trigger weather it's someone really looking to buy the car compared to someone wanting to "drive it for fun?"

Just getting everything worked out so I know what to do when I have people looking to buy.

The Black Z

iTrader: (7)

Anyone?

dlepke

Just Relax man...it's not that hard.

nlsqba

iTrader: (1)

a few tips:

- first go to carmax and get a price quote
- then go to the dealership and see if they can work with you. if they low ball on the price simply show them carmax estimate... most of the time this will be a starting point.
- when trading in your car - you save money on the taxes.


Then if the price is 2 low (and dealer is not willing to negotiate)- simply try to sell your car to a private party.


Based on my experience - dealerships are willing to work with you.

Good luck on the sale.

The Black Z

iTrader: (7)

For a private sale (Minus tires, tinted windows) is $23,955
For a trade-in (Minus tires, tinted windows) is $21,175

$2,780 is a pretty big loss for trading it in.

How much would I save in taxes trading it in however?

JDMFairladyZ33

iTrader: (37)

If you are selling your car and wanting to get into another car then trading will save you taxes on the new car. Example, if your car is valued at $10K and your new car is $25K, then most of the time you will be required to pay the difference of $15k. That makes since because in a way the car is the down payment, unless you have negative equity or if the car wasn't paid off. Still total taxes on a new car around that price can't be over $2k. Take a portion of that and considered what you might get selling private party instead then the advantage of private party is black and white. If you are just selling the car out right without purchasing another car then you don't pay any taxes. The buyer has to go with you to the bank (If they still own it) write a check for the payoff amount, they in return will give you an application for title transfer and give the title to the buyer, your loan is settled, and the buyer must go to the DMV with the application to tranfer the car to their name. After that they pay the sales tax off of the purchase amount.

JDMFairladyZ33

iTrader: (37)

It's a case by case bases but best thing to do is ask lots questions. If you don't feel comfortable about handing the key over to the other person then don't do it. I never let any teenagers drive my car unless their parents were there. Normally if people are out for a joy ride they won't stick around through the questions I've mentioned before. These are some of the questions I use to ask:

1) How long have you been looking?
2) What do you know about my car?
3) Do you have your finances in place?
4) With who?
5) Are you insured?
6) Do you have valid license?
7) What do you do for a living?
8) Who is the car for?
9) Are you trading or selling your old car?
10) Who approved of your loan?
11) What other deals have you looked at?
12) If you like my car are you ready to do the transaction today?

Basically a lot of it is common sense. Generally you can get an idea if they are bs'ing around or not after a few questions.

Sizzle

iTrader: (2)

To me 3,4,7,8,10,11 are out of bounds and I would not answer......

The Black Z

iTrader: (7)

What would you ask?

davidv

iTrader: (2)

Any progress selling the car?

SargentZ

there is no question out of line. Don't answer my questions, then you don't get my car. Simple..

There will be plenty of honest people that will answer so why waste your time with some shady yahoo.. Heck, I'd even snap a pic of them and their license and insurance and the car they drove in on on my digi cam.

The Black Z

iTrader: (7)

Cars been sold guys.