Selling a Used Vehicle in Todays Market - Sale Pending Questions ?? -

[nick0danger]

Originally Posted by AndrewM

Yet atv’s, boats and camping units are selling like crazy. Suspect lots of people aren’t driving right now so not in a rush to grab a vehicle. Also most people live paycheck to paycheck so financing is their only route. They don’t care about the total payment, just how much they need to spend every couple weeks.

Just bought a new outboard, I am told boat sales are slow. Also from what i see on Kijiji i think boat prices are better than last spring. Just looked the same model pontoon as I looked at last year is the same price.

RV sales are up, however I am told its lower end units that are really moving, and they expect it to really dry up (A distant relation owns Guarantee RV)

[Zip-in-Z]

Well golf sucked this morning. Lots of good info shared here that confirms some of my research/thoughts on selling a used vehicle.

When it comes to buying New, you can custom build a new vehicle from the GM Canada Website with all the Factory Options/Packages you desire and the system works up a MSRP for that build & then tells you were the closest match to your vehicle is located. I found 52 SUV's matching my base spec located in Alberta on the various dealership inventory, price range from $65 to $72K. There's lots of 2020's to choose from, there's even a few 2019's that are discounted $10K that aren't selling, that tells me dealers are hungry.

The different MFG's are offering various incentive programs to move inventory, a couple of Dealers in Calgary have suggested GM may be offering Cash Incentive Rebates or Discounts up to 15% to more inventory, that would be nice, my TFSA is max'd out and I would take advantage of any savings.

The problem I'm experiencing, is the used vehicle market, I was hoping to sell mine at a fair & reasonable price vs trading it but no new inquiries on my Acadia.

I'll give it some more time hopefully it will all work out.

Cheers

David

[AndrewM]

Originally Posted by nick0danger

Just bought a new outboard, I am told boat sales are slow. Also from what i see on Kijiji i think boat prices are better than last spring. Just looked the same model pontoon as I looked at last year is the same price.

RV sales are up, however I am told its lower end units that are really moving, and they expect it to really dry up (A distant relation owns Guarantee RV)

Odd as the dealer here said they are busier than ever.

[Selkirk]

Originally Posted by AndrewM

Yet atv’s, boats and camping units are selling like crazy. Suspect lots of people aren’t driving right now so not in a rush to grab a vehicle. Also most people live paycheck to paycheck so financing is their only route. They don’t care about the total payment, just how much they need to spend every couple weeks.

Sad, but true ☝ ... especially with the younger generation(s).

They have a house, vehicles, and lots of Toys, but are constantly living on the 'Financial Edge'. In Debt up to their eyeballs, and no rainy-day funds to fall back on when the shyt hits the fan ... living for the moment, until reality kicks in.

I could never live like that ... but so many do now.

Selkirk

[AndrewM]

Originally Posted by Zip-in-Z

Well golf sucked this morning. Lots of good info shared here that confirms some of my research/thoughts on selling a used vehicle.

When it comes to buying New, you can custom build a new vehicle from the GM Canada Website with all the Factory Options/Packages you desire and the system works up a MSRP for that build & then tells you were the closest match to your vehicle is located. I found 52 SUV's matching my base spec located in Alberta on the various dealership inventory, price range from $65 to $72K. There's lots of 2020's to choose from, there's even a few 2019's that are discounted $10K that aren't selling, that tells me dealers are hungry.

The different MFG's are offering various incentive programs to move inventory, a couple of Dealers in Calgary have suggested GM may be offering Cash Incentive Rebates or Discounts up to 15% to more inventory, that would be nice, my TFSA is max'd out and I would take advantage of any savings.

The problem I'm experiencing, is the used vehicle market, I was hoping to sell mine at a fair & reasonable price vs trading it but no new inquiries on my Acadia.

I'll give it some more time hopefully it will all work out.

Cheers

David

Have you bumped it to the top lately?

[Zip-in-Z]

Originally Posted by AndrewM

Have you bumped it to the top lately?

Yes ... at least once per week.

Based on my limited experience & the points made in this thread, selling a used vehicle under our current economic times is similar to selling a nice home, if the price is right it will sell but it could take some time.

Cheers

D.

[nick0danger]

Originally Posted by AndrewM

Odd as the dealer here said they are busier than ever.

Which dealer? Renfrew, said slow, basspro VERY slow, but service is busy. B and L is for service not sales

[TBark]

It’s everywhere right now.
I’ve been in Aus for nearly 3 years now, will be moving home in 5-6 mo.
Bought a mint low mi ‘09 Mercedes C320 CDI sedan 2.5 years for $24k.
Put 20k km on it in that time and still only 135k km on it now.
It’s a bit early, but Getting feelers now for a sale in maybe Sept or Oct.
I’m hearing $12k ballpark, ugh.

TBark

[FishOutOfWater]

Originally Posted by Zip-in-Z

any tips or tricks to share ?

Appreciate your thoughts.

Cheers

David

Don't buy a GM...

[Zip-in-Z]

Originally Posted by FishOutOfWater

Don't buy a GM...

Don't Buy a GM .... Tks for your Pearls of Wisdom & Valuable Advice on Selling a Used Vehicle.

Cheers

D.

[Bigwoodsman]

Originally Posted by Zip-in-Z

Tks for your Pearls of Wisdom & Valuable Advice on Selling a Used Vehicle.

Cheers

D.

I just bought a new to me 2016 GMC 2500HD SLE Crew. Short box. Dealers are anxious to sell. I got everything I asked for in pricing financing and a new windshield. I’m extremely happy with the deal I got.

BW

[Zip-in-Z]

I got a call this afternoon from 2 Calgary Dealers, GM just announced they will be selling certain vehicles, including the SUV I'm interested in at Dealer Cost and GM is kicking in another $750.00 discount off the final selling price all at 0% financing, this saves me at least $6800. going to Calgary next week.

I dropped my price another $1K it's now listed for $18K on the A/O Vehicle BST, if it doesn't sell it gets traded.

Tks all (except FOW) for the input, it was very helpful.

Cheers

David

[jstubbs]

I just sold 3 of my vehicles this past two weeks on Kijiji. Had the one listed for ages before it sold. Other two went quick. Interest probably tripled once May hit and the fears of COVID relaxed.

[Dean2]

Originally Posted by Zip-in-Z

I got a call this afternoon from 2 Calgary Dealers, GM just announced they will be selling certain vehicles, including the SUV I'm interested in at Dealer Cost and GM is kicking in another $750.00 discount off the final selling price all at 0% financing, this saves me at least $6800. going to Calgary next week.

I dropped my price another $1K it's now listed for $18K on the A/O Vehicle BST, if it doesn't sell it gets traded.

Tks all (except FOW) for the input, it was very helpful.

Cheers

David

Did u put it on the Canadian and U,S, autotraders. There is usually far more interest than on Kijiji.

[ghfalls]

Offer it here for what the dealer said they’d give you.

[Dean2]

Originally Posted by ghfalls

Offer it here for what the dealer said they’d give you.

Why bother. At the price I would just trade it off. Why deal with the tire kickers test pilots and others. If h can't make more than wholesale the dealer is offering why bother with private sales.

[Zip-in-Z]

Originally Posted by Dean2

Why bother. At the price I would just trade it off. Why deal with the tire kickers test pilots and others. If h can't make more than wholesale the dealer is offering why bother with private sales.

D-2 ... Bingo, your input & common sense advice has been very helpful, many tks.

In respect to advertising on Canadian and U.S. Autotraders, I ran out of time with GM's June Program announcement today, I imagine there are a number of potential buyers who will be taking advantage of the prices/deals & I'm one of them.

Based on the pic's I sent Dealers they're offering me $1K or so off my asking price on A/O & Kijiji, reducing it lower is not worth my time or effort entertaining people & having concerns with their Bank Draft or any future troubles.

Cheers

D.

[Zip-in-Z]

Thought an update would be appropriate advising all those members who provided me with some assistance on selling a used vehicle.

Kijiji found me a serious buyer who's located in Lacombe, they viewed the vehicle yesterday evening and made me an offer today, it's $500.00 off my asking price, subject to a satisfactory inspection report. My SUV has been well maintained, no worries. I'm very happy with the deal it's $2500.00 more than the dealer was offering on a trade. If your wondering, 385 views & not one P/M on A/O BST.

I only sold 1 vehicle privately in 1998, my Zip-Z 1970 Camaro when I lived in WPG and was moving to EDM. Never sold much on Kijiji in the past to many kooks to deal with. The last few days I had a flurry of low ballers had to ignore more than one.

It's also difficult to sell a vehicle on Kijiji when your in a rural location, not many people wanted to drive to Sylvan, after 5-6 days my ad was pushed down to page 30. I found I had to cancel the ad at least every 2-3 days and create a new one to get it on top or pay Kijiji an extra fee to keep it near the top.

I'm hoping it all works out next week & I got 3 very anxious Dealers who have fully loaded almost identical SUV's for me to choose from at Dealer cost with 0%.

Question for the Experienced Sellers ???

Bank Draft for payment, I imagine this is the norm?

I believe the Buyer gets my Vehicle Registration card, I notify my Insurance Provider the vehicle is sold.

Bill of Sale .... there's a suitable example on line.

Notify both On-Star & Sirius XM.

I'll lock my A/O ad when it's a done deal.

Anything else I should be aware of ?


Tks again,

David

[AndrewM]

Nice work! Don’t forget to keep your plate.

[Zip-in-Z]

Originally Posted by AndrewM

Nice work! Don’t forget to keep your plate.

Got it ... will need to bring a quarter or a screw driver.

Mind you, maybe a B-new vehicle needs a B-new plate.

Tks

D.

[bagwan]

David. I bought A 5TH Wheel off a fellow in Sylvan and took him to the CIBC with me to get a draft and he was impressed. Maybe your guy would do the same. Makes for peace of mind but it should be fail safe with a local sale anyway. Good luck on the sale and I like GM.s

[badger]

Bank Draft or Certified cheque - I ask for a contact name and branch where the buyer draws the funds. Look up the number and phone the branch yourself, ask for the contact person to verify that the branch has issued a draft in that amount, the buyer will have to give permission for this info to be given out. There are realistic forgeries of bank drafts out there. Less than 10k I take cash.

[AndrewM]

Can’t both technically be cancelled? Almost sure my bank told me they could if needed.

[AndrewM]

I think you can transfer your registration to your new vehicle rather than paying full price twice.

[fishtank]

Originally Posted by badger

Bank Draft or Certified cheque - I ask for a contact name and branch where the buyer draws the funds. Look up the number and phone the branch yourself, ask for the contact person to verify that the branch has issued a draft in that amount, the buyer will have to give permission for this info to be given out. There are realistic forgeries of bank drafts out there. Less than 10k I take cash.

This !! Or take em into the bank with you , if you and them have the same bank put in your debit cards at the teller , the teller can just do a transfer in the account directly.

[Zip-in-Z]

Tks for the pointers some excellent suggestions.

Off to a green meeting before it starts raining again ... check in later.

Cheers

D.

[jstubbs]

I just ask for them to bring a receipt from the bank for the bank draft. Or meet them at the bank works great also.

Ensure to check their driver's license against what they write on the bill of sale to verify their identity as well.

[350 mag]

Originally Posted by Zip-in-Z

I got a call this afternoon from 2 Calgary Dealers, GM just announced they will be selling certain vehicles, including the SUV I'm interested in at Dealer Cost and GM is kicking in another $750.00 discount off the final selling price all at 0% financing, this saves me at least $6800. going to Calgary next week.

I dropped my price another $1K it's now listed for $18K on the A/O Vehicle BST, if it doesn't sell it gets traded.

Tks all (except FOW) for the input, it was very helpful.

Cheers

David

Depending on the MSRP...the "invoice" cost is NOT the true cost the dealer pays.

On a 75-80000 truck there is likely 20-25% markup from the true "break even" price.

There's also hidden incentives that save the dealer's a fair bit under invoice cost. Holdback is one of those.

When ever dealing on a vehicle and the dealer tells you this is their bottom price and you are getting a great deal.

Ask to see the Invoice from the Manufacturer....so you can come up with a "fair" price for both parties and make a quick deal.

If he doesn't show you an official invoice your getting screwed....IF he shows you the invoice then he's half-honest.

Too many people fall for dealing off the "MSRP"....and REALLY gullible deal on an "affordable" monthly payment....

[badger]

Originally Posted by 350 mag

Depending on the MSRP...the "invoice" cost is NOT the true cost the dealer pays.

Ask to see the Invoice from the Manufacturer....so you can come up with a "fair" price for both parties and make a quick deal.

If he doesn't show you an official invoice your getting screwed....IF he shows you the invoice then he's half-honest.

Too many people fall for dealing off the "MSRP"....and REALLY gullible deal on an "affordable" monthly payment....

I just bought a new truck, many dealers were advertising X% over invoice. Many of the invoices I was shown were higher than the invoice reports available from Unhaggle and Car Cost Canada. They refused to sell a vehicle at X% over my invoice. One dealer's invoice matched exactly so Car Cost Canada cannot be completely out to lunch. My guess is that some dealers print up phony invoices just to show customers, you will never know the true dealer cost especially with the back end profits paid by the manufacturer at year end.

[Zip-in-Z]

I'm taking my vehicle to the buyers garage/shop in Lacombe next week for the pre-purchase inspection, I understand they also use the same bank as me, and there's a BMO in town ... bonus.


350 mag .... tks for the intel, there are at least 4, almost identical GM SUV's that I found, 1- R/D, 2- Calgary & 1- Camrose. I'm in the process of advising them I sold my Acadia privately and asking them to resubmit quotes, accordingly. It's still a competitive process via the Internet, so I hope to establish the best deal possible before I go to see any of them and negotiate a final sale next week.

Cleaned out all my personal effects from my vehicle & put a screw driver in back to remove my plate, getting excited.

Tks again everyone for the input.


Cheers

David