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Car Forum / Driving, Maintenance, Tuning / Maintenance and Repair / March 2007Trade-in vs private sale
This is my first time in this group so apologies if this has been covered before (google didn't turn up any discussion...) I have a 2004 Passat wagon with 33,000 miles and meticulous maintenance that I'm thinking of selling/trading for a bigger vehicle. The car has some body damage from a couple minor accidents and one of my kids deciding to draw on it with a rock. It'll likely cost me ~ $1000 to get the body fixed back up to original condition, part of which is an insurance claim. I also had another claim for a leak/flood damage last year which will likely show up on my carfax. My question is whether it's best to privately sell or trade it in. I know I can get more if I privately sell, but it's a pain and I'll definitely have to shell out the money to fix it up. If I trade it in I know I'll probably get less for it but it's easy, and I heard dealers can fix damage on the cheap so will likely deduct less than a private seller would (T/F?). Is there any conventional wisdom around this, like is it ALWAYS better to fix and sell privately, or could a trade-in ever be worth it? Thanks in advance, Dave Hmm.... I personally would consider your vehicle as a 'write off' and only good for salvage or parts if I read a carfax report about a flood.... There are far too many scam artists out there trying to dump Katrina left overs.... With that flood report, you are kinda stuck between a rock and a hard place... Based on that I would be trying the dealer to see if they will even want it so I know what the low ball is going to be.... Mike 86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00 88 Cherokee 235 BFG AT's Canadian Off Road Trips Photos: Non members can still view! Jan/06 http://www.imagestation.com/album/pictures.html?id=2115147590 (More Off Road album links at bottom of the view page) > This is my first time in this group so apologies if this has been > covered before (google didn't turn up any discussion...) [quoted text clipped - 18 lines] > Thanks in advance, > Dave > Hmm.... > [quoted text clipped - 11 lines] > > Mike Thanks for the opinion. The "flood" damage was actually a clogged cowl drain (common in VW's) causing water to get into the heating system. Basically it just caused a wet carpet that they took out and dried. The labor was expensive though, which is why I put in the claim. I guess I should check the report to see what it says, but it's not as if the car was under water or anything. (Not sure if that's any better or worse.) On Mar 17, 11:56 am, phill...@gmail.com wrote: > > Hmm.... > [quoted text clipped - 19 lines] > if the car was under water or anything. (Not sure if that's any better > or worse.) I should have waited before I made that last post... I did a carfax check and it comes up clean. I guess the main issue will be taking care of the obvious body damage. > On Mar 17, 11:56 am, phill...@gmail.com wrote: >> [quoted text clipped - 19 lines] > check and it comes up clean. I guess the main issue will be taking > care of the obvious body damage. That's good news! I would be 'really' pissed if a 'leak' showed up as a 'flood' on a report like that for the reasons mentioned. As far as your question goes, you should check. The dealer could lowball you and he will if you just want to 'sell' it to him, but sometimes they will give good trade in value to get your business. Mike 86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00 88 Cherokee 235 BFG AT's Canadian Off Road Trips Photos: Non members can still view! Jan/06 http://www.imagestation.com/album/pictures.html?id=2115147590 (More Off Road album links at bottom of the view page) > This is my first time in this group so apologies if this has been > covered before (google didn't turn up any discussion...) [quoted text clipped - 18 lines] > Thanks in advance, > Dave If it were me, I would trade it to a dealer. There would be no worries or guilt feelings about the car afterward. (guilt about how bad of a condition it is in and selling it to a sucker).... Once a car is flood damaged, you can pretty much write it off.... so many "other" problems follow flood damaged cars.... Just my opinion.. Fwed On Mar 16, 11:32 pm, phill...@gmail.com wrote: > My question is whether it's best to privately sell or trade it in. I > know I can get more if I privately sell, but it's a pain and I'll > definitely have to shell out the money to fix it up. If I trade it in No you won't. Sell it as-is, describe the vehicle's history honestly and accurately. You will /ALWAYS/ make more cash that way, no exceptions. The question is, what is more annoying to you - having to spruce up the vehicle and deal with a private sale, or trying to negotiate trade-in price with a dealer? I hate car dealers. Much rather go to the trouble of cleaning, photographing and describing the car, and list it on eBay. On two occasions now I've asked for a trade-in value on a car when buying something new, been told $100 or $150, and then gone away and sold the erstwhile trade for $1000 on eBay. >This is my first time in this group so apologies if this has been >covered before (google didn't turn up any discussion...) I've junked all my old cars, so I don't have first-hand knowledge about this. However, I've gotten the idea that, with selling privately, there is some risk WRT the title transfer. Eg: my brother (in MA) sold a motorcycle. Years later, he had to pay a fine, because the guy he'd sold it to had eventually just abandoned it, and had never done the title transfer. As far as the state was concerned, it was still in my brother's name. So, kind of a question: I don't understand the way title transfer is done. At least here (NY), it's entirely up to the buyer to send it in. (Mostly, of course, people do that.) I haven't bought that many cars, but my recollection is that you don't need the title to register it, just a bill of sale - the state is mostly interested in making sure they get the sales tax. It seems like there's a big hole, but I suspect I'm just missing something here. George > I've junked all my old cars, so I don't have first-hand knowledge about > this. However, I've gotten the idea that, with selling privately, there [quoted text clipped - 13 lines] > It seems like there's a big hole, but I suspect I'm just missing > something here. Procedures obviously vary from state to state, but what I find works the best here in Minnesota is for the buyer and seller to transfer the title right at the deputy registrar's office. The clerk immediately stamps and files it with the state, so there is no chance of the buyer failing to transfer the title to his name. Anyone who refuses to go along with this scheme doesn't get to buy a vehicle from me. > >This is my first time in this group so apologies if this has been > >covered before (google didn't turn up any discussion...) [quoted text clipped - 6 lines] > title transfer. As far as the state was concerned, it was still in my > brother's name. Your brother didn't do the sale properly. What he was supposed to do is get the buyer's information on the registration, protocopy this, and send the original registration in. I've had this problem with an old car I sold once, buyer never transferred the title and it was impounded. I didn't have to pay a fee though because I had a copy of the buyers signature on the registration. Ted We were recently offered $3000 for our 98 LeSabre on trade. I asked the salesman what, if we should decide to sell it ourself, should we ask for it. He suggested we start at about $4700. So, we intend to sell it ourselves, and offer someone a better deal than they might get at a dealership. We are in no rush. |
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