Ocsltd 133 Posted January 1, 2017 I sold a car to a chap a few months ago, who, due to a change in circumstances, has decided to sell the car and asked what I would offer him. Not wanting to kick him in the balls, I swerved the question and suggested I sold it for him on a SOR basis. He seems quite keen, and has asked the inevitable question, how much would I charge to sell it. I've done this a couple of times in the past, but never sure what the best option is, so interested what you normally do in these situations? For example take 10% of the sale price? Agree a set amount, I.e £500? Or agree a figure he wants, then keep what ever I get over and above? Share this post Link to post Share on other sites
metcars 395 Posted January 1, 2017 It depends on what the car is and how quickly he wants his money. He might take bottom book if its not sold after a month? Share this post Link to post Share on other sites
Ocsltd 133 Posted January 1, 2017 Just now, metcars said: It depends on what the car is and how quickly he wants his money. He might take bottom book if its not sold after a month? It's a really low mileage 55 plate Toyora Celica, Full Toyota History. We replaced the water pump under warranty, so I'm confident in the car mechanically, and think it will sell well. But I suspect he's happy to wait to get the right money for it. It's trying to work out which is the best option, to be fair to him, but also make it worth my while.... Share this post Link to post Share on other sites
metcars 395 Posted January 1, 2017 4 minutes ago, Ocsltd said: It's a really low mileage 55 plate Toyora Celica, Full Toyota History. We replaced the water pump under warranty, so I'm confident in the car mechanically, and think it will sell well. But I suspect he's happy to wait to get the right money for it. It's trying to work out which is the best option, to be fair to him, but also make it worth my while.... Look at it this way, he has your expertise in preparing the car, advertising, dealing with customers, test drives, paperwork and all he has to do is wait for the cheque. The thing is, is he 'really' expecting you to effectively give him his money back? But it sounds like 'he' has to decide how much he wants for it? Share this post Link to post Share on other sites
Ocsltd 133 Posted January 1, 2017 1 minute ago, metcars said: Look at it this way, he has your expertise in preparing the car, advertising, dealing with customers, test drives, paperwork and all he has to do is wait for the cheque. The thing is, is he 'really' expecting you to effectively give him his money back? But it sounds like 'he' has to decide how much he wants for it? Yeah fair comment, think I'll go back to him and ask what figure he wants and go for from there. Although, from experience he will probably just say, as much as possible...! Share this post Link to post Share on other sites
metcars 395 Posted January 1, 2017 (edited) 6 minutes ago, Ocsltd said: Yeah fair comment, think I'll go back to him and ask what figure he wants and go for from there. Although, from experience he will probably just say, as much as possible...! But, the car now has another owner and more miles and is another year older (2017)? So its not going to make its original selling price. If he wants top money, "you" will have to work hard to get it. I appreciate you don't want to beat him up but business is business Edited January 1, 2017 by metcars Share this post Link to post Share on other sites
Ocsltd 133 Posted January 1, 2017 Just now, metcars said: But, the car now has another owner and more miles and is another year older (2017)? So its not going to make its original selling price. If he wants top money, "you" will have to work hard to get it Yeah completely agree. I have sewn the seed, as when I sold it to him, it was a "1 lady owner from new car". So I told him it has lost some of that appeal. Also, I need to over come the fact that the last owner hasn't had the car long, which could some may be suspicious about. My problem is I always feel obliged to try and help them out a bit.... He's also a really decent and genuine chap, he's local, so want to try and keep him sweet, without stitching myself up in the process. Share this post Link to post Share on other sites
metcars 395 Posted January 1, 2017 18 minutes ago, Ocsltd said: Yeah completely agree. I have sewn the seed, as when I sold it to him, it was a "1 lady owner from new car". So I told him it has lost some of that appeal. Also, I need to over come the fact that the last owner hasn't had the car long, which could some may be suspicious about. My problem is I always feel obliged to try and help them out a bit.... He's also a really decent and genuine chap, he's local, so want to try and keep him sweet, without stitching myself up in the process. Yeah, I understand that. But it will be easier if you can thrash out a realistic price 'and' a timescale that suits both of you Share this post Link to post Share on other sites
justina3 518 Posted January 2, 2017 Does he expect you to carry the warranty as well say the engine or gear box goes pop two months down the line who foots the entire bill for that ? As you sold it the buck will stop with you. I hate these kind of deals never done me any good in the past. Share this post Link to post Share on other sites
Ocsltd 133 Posted January 2, 2017 3 hours ago, justina3 said: Does he expect you to carry the warranty as well say the engine or gear box goes pop two months down the line who foots the entire bill for that ? As you sold it the buck will stop with you. I hate these kind of deals never done me any good in the past. If I was to sell the car, I would fully expect to warrant it, again, hence it needs to be viable. Share this post Link to post Share on other sites
Mikey 19 Posted January 2, 2017 I had this recently with a Mitsubishi Shogun and politely declined as it's not my niche market, but had previously taken it in as a PX which is how he ended up with it. The compromise was I re-valued it for him, so he realistically knew what to ask, provided a HPI report and fresh MOT for him to include with the sale, (at cost) and helped him with the wording. It sold the very next weekend for full asking price, so I was quite pleased that it went quickly and I've still got a future customer on-side, so win-win. Share this post Link to post Share on other sites
It's me 612 Posted January 2, 2017 i wont do sor i either say ive spent my budget or i have already a very similar car so thanks for the offer but at the moment i can only offer advice as to where to sell it to you or if you know its a good car and can bring it back to retail and be prepared to obviously warrant it and pay for the parking its taking up offer a price thats happy to everyone they can only say no if you want a business partner get one,dont have a customer ringing you up asking how its going because they will Share this post Link to post Share on other sites
TDB 31 Posted January 3, 2017 If you SOR a car for a private customer OR another trader the CRA15 rules DO NOT APPLY! Share this post Link to post Share on other sites
It's me 612 Posted January 3, 2017 On 1/3/2017 at 10:19 AM, TDB said: If you SOR a car for a private customer OR another trader the CRA15 rules DO NOT APPLY! tell that to the buyer when car comes back in 3.99 weeks with a problem and see where it gets you in the bigger picture Share this post Link to post Share on other sites
TDB 31 Posted January 3, 2017 Yes I know that ... I was just saying that that is the law. Share this post Link to post Share on other sites
grant8064 219 Posted January 3, 2017 Not worth the hassle in my opinion. If they want to sell it and it's the right money i'll buy it direct and retail it myself. Whatever the law says if the car is a wrong-un I know i'll be footing any bills and it's my reputation on the line so I want the same margin in the car as I would from something from the block. If they're happy to take trade money for it then it's simpler to just buy it outright and save the daily phonecalls from the owner asking how it's doing. If they don't want trade money then they need to be selling it themselves privately and taking all the risks and time associated with that. 1 Share this post Link to post Share on other sites
Mikey 19 Posted January 4, 2017 How did Metcars like that ^^^^ post!!?? He's stolen our buttons!!!! 1 Share this post Link to post Share on other sites
umesh 336 Posted January 4, 2017 Odd one or two if the customer is very realistic and most of the time I've know them or know them well- but generally prefer it cut and dried - I buy or not - makes life much easier. Share this post Link to post Share on other sites
Tom 164 Posted January 6, 2017 pretty sure it would apply if you're selling a car from a business premises. I dont ever do SOR. Share this post Link to post Share on other sites
Phil H 124 Posted January 6, 2017 I've also been informed that if it's an SOR car then the CRA2015 doesn't apply as you're acting as an agent not the seller, the business doesn't actually own it at the point of sale but you must inform the buyer of this and clearly document it on the invoice accompanied by the buyers signature. Not worth the hassle unless you've got loads of empty space or have a very decent margin in it. Share this post Link to post Share on other sites
TDB 31 Posted January 7, 2017 Its on Lawgistics site......will try and find the link.......I cant find it......it was under the heading something like this....."You heard it here first!". Share this post Link to post Share on other sites
TDB 31 Posted January 10, 2017 Its taken me hours but I found it!....Heres the link.... Share this post Link to post Share on other sites
.gif.f588d3d914825b414e7ea9a8fb8a7afe.gif)
