Selling a car FSBO

78

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I laugh at the number of people who think financing a car is a sign of financial overextension. As if laying out cash for a depreciating asset is better than using a cheap money float and investing the cash.
 

GatorFL

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Sell it on Autotrader. I've sold a number of cars that way. Insist on cash. I got $9k in cash for an old Toyota Sienna a few years back. My old 4Runner I sold for $18k in one day, it had 165,000 miles on it.
 

Detroitgator

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Yeah, yeah yeah. They lose money on your car deals.

Im sure you believe that when the salesman tells you it. They kill you on tradeins and most buyers cant work them on the new car enough, so they get fat there too.

Dealerships today make the most money on their service and their second-leading profit center is used cars.
Body shop is #1
 

Concrete Helmet

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As if laying out cash for a depreciating asset is better than using a cheap money float and investing the cash.
How about taking one you paid cash for(my Tundra) then putting it in your company name taking a loan out on it writing off the 3.9%, fuel, maint., mileage AND depreciation then taking the check and buying your fun car(in my case my Shelby)in cash and having it not depreciate hardly at all...... :lol:
 

78

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How about taking one you paid cash for(my Tundra) then putting it in your company name taking a loan out on it writing off the 3.9%, fuel, maint., mileage AND depreciation then taking the check and buying your fun car(in my case my Shelby)in cash and having it not depreciate hardly at all...... :lol:

I did something roundabout similar. I financed a car purchase and leased it to my S Corp. Your best means of deductibility is generally the standard IRS mileage rate, which accounts for depreciation.

The big dig is your insurance company finding out you’re using the car for business.
 

alcoholica

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Some place safe and public (preferable with visible cameras) and some place close. You are going to get about a million emails, texts or calls from people wanting you to accept a check (they will send extra) to get you to ship it to Nigeria. Make up some code they have to put in the text or email subject or ignore it. You can get a burner phone number through several apps so they don't have your number forever.

I said someplace close because I wouldn't even leave for the appointment til the get there and call asking "where are you"? You will get stood up like 90% of the time.

Like he said, no checks. Meet at your bank to exchange the keys and title for the CASH. Then deposit it so they don't jack you on the way out.

How many miles? A lot by now I'd assume.

Take ALOT of pictures and put it on the websites. Like everything. Under it. Under doors, every bit of the interior. Every body panel up close. Engine above from each side, Below from each side (with light), the transmission. The axles. The rear end.

Emphasize one owner (if it is?) etc. 4runners sell themselves and I know you haven't been rock crawling with it.
I've always been warned of the risk of your title floating out there and someone getting in an accident before they turn the title in. That this can potentially make you liable for damages. Not sure how likely this is, but I always met them at the tag office and accepted cash or cashier check.
 

alcoholica

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I had always been told that in FL until the title is filed, it is still in your name. So if they wreck the car and cause damage, the car is still in your name. This has come from my State Farm Agent. Guess it’s fear of civil issues.
 

Swamp Donkey

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I had always been told that in FL until the title is filed, it is still in your name. So if they wreck the car and cause damage, the car is still in your name. This has come from my State Farm Agent. Guess it’s fear of civil issues.
Yeah... no. Some dealerships dont titled it at all, and can do dealer reassignments just by signing on the back. Out of state sales, exports, etc you really cant control when the other guy files it, or of he does at all (dumb). (If he doesnt title it you could theoretically put a lien on the car or sell it again if your were a scamster.)

Get a bill of sale when you sell it.
 
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NovaGator

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Know what you’re willing to pay for the vehicle you want and know what you want for your trade. Don’t back off either. Lastly, know what interest rate you qualify for (zero is always nice).
Buying a car ain’t rocket science but folks sure as he’ll get taken advantage of most of the time.
1: Put an ad on Craigslist and Facebook Marketing site.
2: Give a good description, including miles, condition, asking price.
Cash only, and leave some room to dicker. Price it according to Kelley Blue Book or NADA.
3: Make sure to include several pictures of inside and outside.
4: Meet in a public place. Bring some giant of a guy with you.
5: Bring title and 2 bills of sale with you, and of course a working pen. If you sell it, take a picture of his Drivers License with your cell phone.
6: Make sure the vehicle is clean, cleaned out of personal items, and smells good.
A bottle of Fabreeze is a good investment. Have at least 1/4 tank of gas in the old bomb.
7: Be prepared for all sorts of insults, slights, and nit--pic comments. Try not to be thin-skinned!
8: If he is serious, he will ask if you are firm or flexible on price. Lie and say something like
"Well, my best offer is......! (The least you really want)
9: Good luck!
 
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NVGator

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Some of you guys don't know sh!!t and I thought you did. (looking at you @Concrete Helmet and @78)

Remember, every dealer I spoke with about a trade would give me $2,000 ($2,500 max). I said F-You. Put it on the market for $7,399 and sold it today for $6,900 cash. Yeah, bad move.
 

URGatorBait

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Some of you guys don't know sh!!t and I thought you did. (looking at you @Concrete Helmet and @78)

Remember, every dealer I spoke with about a trade would give me $2,000 ($2,500 max). I said F-You. Put it on the market for $7,399 and sold it today for $6,900 cash. Yeah, bad move.

:popcorn:
 

Concrete Helmet

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Sure you did.....You also took about a 5-6K pounding in the pooper on the new Jeep purchase because the dealer was going wholesale value on your trade to full retail on the purchase.....should have told them you'll take the 2500 but they need to come off their price by 4K on the Cheep.....subtract the lower tax amount from the purchase and you wouldn't have wasted a month with an eye sore sitting in your driveway....
 

NVGator

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Sure you did.....You also took about a 5-6K pounding in the pooper on the new Jeep purchase because the dealer was going wholesale value on your trade to full retail on the purchase.....should have told them you'll take the 2500 but they need to come off their price by 4K on the Cheep.....subtract the lower tax amount from the purchase and you wouldn't have wasted a month with an eye sore sitting in your driveway....
We all know you have a tough time admitting when you’re wrong. Apology accepted. You’re still one of my favorite posters.
 

MJMGator

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We all know you have a tough time admitting when you’re wrong. Apology accepted. You’re still one of my favorite posters.
He’s wrong about most things, but this ain’t one of them.
 

MJMGator

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WTF are you saying? I walked away on the positive. You, and Crete, saying different?
All he’s saying is they’re gonna make their money one way or the other. What they don’t make on your trade, they won’t come down on the price of your purchase. It’s why I say know what you’re after and are willing to pay before you get a quote on your trade. Know what you’ll accept and don’t back off either.
 

NVGator

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All he’s saying is they’re gonna make their money one way or the other. What they don’t make on your trade, they won’t come down on the price of your purchase. It’s why I say know what you’re after and are willing to pay before you get a quote on your trade. Know what you’ll accept and don’t back off either.
I bought a used car. There isn’t any dealer markup in used cars anymore. The Carmax and Trucar and Carguru and internet buying has changed the game. They don’t negotiate used car prices. New car markups, sure. But not new car. And your trade in is simply going to be KBB
 

78

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Tell me more about the SUV you sold, NV.
 

URGatorBait

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Tell me more about the SUV you sold, NV.
Well, it had 4 wheels.
A motor.
Some gear that connected those things.
Oh and some seats...and a bunch of glass
 

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