Advice on Selling...

[Anonymous]

Good Afternoon All,

It is a sad day; November last year I got a brand new 1.6ltr 156GT on finance through Peugeot. Due to unforseen circumstances, I am staring down the barrell of not being able to afford it anymore.

Can anyone give me some advice one the best way to go about selling my car privately, possibly on here, with the finance on it still. Obviously proceeds from the sale will pay off the outstanding balance so there would not be any finance on the car once sold. I've had it all of four months and haven't even broken the 1,300mile mark so it's as fresh as a daisy still.

Any advice is much, much appreciate it this most ridiculous of circumstances.

Rgds,
Warl

 

[Anonymous]

Thats Sad and i feel for you my advice is contact your finance provider straight away ask them for advice.

you can sell the car even when its on finance as the proceeds should be paid direct to finance company but sometimes they will give you time to make pay payments your cars is worth maybe£18,000 for a standard 156 gt roughly

 

[Anonymous]

So sorry to hear that Warl. Not a nice situation to be in at all. The depreciation over four months is really going to hurt you. I wish I had a magic as I would loan it to you for free. Suggest you do as jassy suggested and speak with the finance house. Selling it on here is unlikely, as we tend to be owners and newbies who are considering buying I would suggest have got one in mind already. Sorry that I cannot be of any real help. God bless you though and i hope that your situation improves quickly.

 

[Anonymous]

Incredibly kind comments people. Much appreciated. I did in fact speak to the financing company before hand and they advised that I can sell my car and pay the finance that way. Still a fair whack to pay.

What sorta price am I looking at for the ol' girl?

1.6ltr
156 GT model
Shark Grey
Matt Black 19" rims
Full Grey Integral Leather

It's just done 1,200miles and is in pristine condition...I mean, it's three months old

 

[Anonymous]

Incredibly kind comments people. Much appreciated. I did in fact speak to the financing company before hand and they advised that I can sell my car and pay the finance that way. Still a fair whack to pay.

What sorta price am I looking at for the ol' girl?

1.6ltr
156 GT model
Shark Grey
Matt Black 19" rims
Full Grey Integral Leather

It's just done 1,200miles and is in pristine condition...I mean, it's three months old

Go on to we buy anycar.com enter your regy and whatever price they give you add between £800-£1000 to get a good figure

 

[Anonymous]

i had my rcz for just over 18months now and look to buy another car , when to citeon to find out about the DS range and ask how much for our car , they call around some peugeot dealer around and they offer 13,500 . and that for a 156hp gt ,sta nav,jbl with 20,000 miles . and on the peugeot site of used cars they are selling for 17,000 why the diffence. do not want to sell but like above i can not afford to keep.

 

[Anonymous]

i had my rcz for just over 18months now and look to buy another car , when to citeon to find out about the DS range and ask how much for our car , they call around some peugeot dealer around and they offer 13,500 . and that for a 156hp gt ,sta nav,jbl with 20,000 miles . and on the peugeot site of used cars they are selling for 17,000 why the diffence. do not want to sell but like above i can not afford to keep.

If you were them would you offer any more? Remember that the vast majority of people want diesels these days as they've been brainwashed into thinking they'll get 70mpg running the kids to school and so petrol cars are being automatically ruled out by a lot of people looking to buy. Also factor in the 'niche-ness' of the RCZ and so as a dealer there's a very high chance of it sitting unsold on your forecourt for a very long time. Factor in depreciation as well and it's not hard to see why there's such a void between what they've offered you and what they're currently selling for. If they sell it within a few weeks then they'll be sitting pretty, but if it's still sat there in 12 months time (not uncommon) then they're not going to be making much at all as the lower spec models will have probably dropped another couple of grand in price by that time.

If you want to keep your losses to an absolute minimum then you have to sell it privately and put the effort in to create an ad that makes your car stand out more than the competition. That entails lots of large high definition pics (a lot of people will buy cars just from the pics without even seeing it in person first) and ideally a full professional detail of the car outside and valet inside. Yes you will get no shortage of "how much will you take for it?" time-wasters on the end of your phone but eventually you will get someone who falls in love with the pics and it'll be gone before you know it and for pretty much what you wanted for it; no £3.5k losses for getting a dealer to do the hard work!

 

[Anonymous]

Good Afternoon All,

It is a sad day; November last year I got a brand new 1.6ltr 156GT on finance through Peugeot. Due to unforseen circumstances, I am staring down the barrell of not being able to afford it anymore.

Can anyone give me some advice one the best way to go about selling my car privately, possibly on here, with the finance on it still. Obviously proceeds from the sale will pay off the outstanding balance so there would not be any finance on the car once sold. I've had it all of four months and haven't even broken the 1,300mile mark so it's as fresh as a daisy still.

Any advice is much, much appreciate it this most ridiculous of circumstances.

Rgds,
Warl

This is not going to be music to your ears, but you'll have a hard time shifting a car with outstanding finance on it. You can try and convince people as much as you like that you'll pay off the finance from the proceeds of the sale, but the vast majority of people won't be interested and will walk. It is however a fairly simple concept if you do manage to find someone willing to buy it with the outstanding finance. All you do is bell up the finance company when they're ready to pay and they will take the outstanding balance from your buyer's debit card, then your buyer will pay you the balance in cash usually and problem sorted. While this is all above board, the problem most people have with this are a) the 'unnecessary' complications and hassle, but more importantly b) how do they know that it is actually the finance company that they're making the card payment to and not a dodgy 'mate' of yours with a merchant account.

Your only other option is to take out a short term personal loan and use that to pay off the finance, then flog the car (which will be far easier without any finance outstanding), then use the proceeds of the car sale to pay off the loan. I do of course realise that this one is not option in your situation.

Good luck.. :|