sell private vs sell to the dealer advice needed

[RudyH]

Ok car is in the signature. I am looking to move on to something newer. Two things to note, and looking for advice.

I do have an extensive list of modifications below (missing a few but whatever), but also I have a warranty to 200,000 km, where there is 135,000 km on the clock. Covers EVERYTHING, bumper to bumper including electronics / tech.
https://www.nationwideautowarranty.com/200000km.html

For say, if I was selling a stock car, where selling private I would have made a bit more money...in a situation like that I wouldn't care, I would just sell it to the dealership and skip hassles of advertising and paperwork.

The modifications are one thing, but the warranty is another. I see that as value to the buyer. The warranty is transferable. Normally when I sold a car, it had no warranty. This is different, and the average person drives around 20,000 km (12,000 miles) say a year. That's good for around 3 years for the average person.

Do you think I am seeing too much value in the car? It feels like selling private, it's not a matter of $1-2g's in this case, but combined with the modifications and warranty I could be asking for above what even a dealer would be selling for?

In the area prices are listed at $21-$27k range. I would think I would be up in the higher end of the range, where dealer might give me $19-20k normally?
I am thinking I could even sell it here for $25k everything included /w enthusiast discount

[SDV325]

Would definitely say to sell it private, could save a lot.

If you want to change out some of the parts to save a few more bucks, I'm there someone could take those swaybars off your hand haha :P

[infinkc]

Selling mine, I parted all the mods out that I could. You won't get anything for mods selling it either dealer or private, anything you get just consider it a bonus.

I'm trying to sell mine private, but may see why the dealer has to offer, sometimes 1-2k is not worth the trouble in the end.

[acturater]

I agree with the post above, selling privately could potentially net more value to you and the buyer. However beware you may be in for the long haul to find that right buyer. Also there are people out there who will come by for a test drive but really have no intention of buying. It really comes down to luck and timing.

I sold my 2014 S4 not too long ago, fairly well modded with tune, pulley, suspension mods etc. I ended up piecing out the parts and selling stock to a dealership. I got about 50% back of what I paid for the mods, and came in around $3k below KBB on sell price to dealership. Sure, I probably could've got a better value from a private buyer. However I wasn't ready to spend the time and effort entertaining test drives and sorting through the riff-raff.

Best of luck to you! Also why don't you share with us what you were potentially thinking of as the next ride! That's always an exciting decision to make.

[Evan2]

You will always make more in a private sale, a dealer is looking to turn a profit from your car. The only way to get value out of it in trade is to overpay on whatever you are buying, no dealer is going to give you a deal on a car and trade. If you want something new from a dealer then get that price first, then work trade never tell them you have a trade when you walk in. I made the most money in car sales in a short six month stint by getting people on their trade, nothing I was doing to trick them just some people do not see the value in their car and my job was to devalue it.

[DGVR6]

Usually the dealer will get you for 5k - 7k below fmv in your area.

[keithb12]

If you are not in a hurry try selling private first. See what happens. There is not much cost nor effort to list it. I would sell off a fee high value parts if you have stock parts. Or trade down with $$


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[doughboy17]

I agree with the post above, selling privately could potentially net more value to you and the buyer. However beware you may be in for the long haul to find that right buyer. Also there are people out there who will come by for a test drive but really have no intention of buying. It really comes down to luck and timing.

Or you could be nicely surprised. We sold my wife's Ford Escape using Craig's List. I was floored at how many legit inquires we received and quickly -- 4, excluding "dealers" within the first 6 hours of listing! Standard CL recommendations apply (meeting in public places only, always taking a friend with you, dealing in greenbacks or meeting at their bank to obtain payment).

[Dirt]

Modifications add no value to the car and often hurt more than they help. Take that out of the equation as you're considering which path to take.

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[yjypm]

If you are selling your mods can I take your ak?

[TMurt]

I would part out and then sell privately first. The only people who will appreciate mods are enthusiasts, but most enthusiasts want to mod to their taste not buy someone else's project. Also, it could make some buyers think the car was driven more aggressively and has more wear.

Trading in only makes sense if you're in a rush and looking to buy something new and use the trade as part of the negotiation

[jmaddr]

If you decide to sell privately, I would think an informed enthusiast buyer, which is basically anyone who would pay more for the mods, knows the warranty likely won't cover a tuned car drivetrain....no matter what the seller says. I would think your options are return to stock so you can hype the warranty, or sell as is and hype the mods.


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[Dr GP]

You might actually get a better deal on a new car with a trade in. Dealer can make more profit on your used car than on a new one. Perhaps you could take your car to Carmax and get a quote for comparison . Dealers don't usually like cars with mods and could use that as an excuse to low ball you.

[Steve_Ep]

So a big thing your not considering is the tax. If you new car is going to be say $40K and the dealer gives you $19k you only pay HST on the net $21k. If you sell private your on the hook for the full $40k on the new car.

So at 13% HST multiply what the dealer will give you by 1.13 and compare that to what you can pull from the private market.

PM me a list of mods, I'm in toronto and could be happy to take some off your hands.

What are you going to replace the S4 with?

[The Fat Kid]

I agree with the post above, selling privately could potentially net more value to you and the buyer. However beware you may be in for the long haul to find that right buyer. Also there are people out there who will come by for a test drive but really have no intention of buying. It really comes down to luck and timing.

I sold my 2014 S4 not too long ago, fairly well modded with tune, pulley, suspension mods etc. I ended up piecing out the parts and selling stock to a dealership. I got about 50% back of what I paid for the mods, and came in around $3k below KBB on sell price to dealership. Sure, I probably could've got a better value from a private buyer. However I wasn't ready to spend the time and effort entertaining test drives and sorting through the riff-raff.

Best of luck to you! Also why don't you share with us what you were potentially thinking of as the next ride! That's always an exciting decision to make.

^This.

You might actually get a better deal on a new car with a trade in. Dealer can make more profit on your used car than on a new one. Perhaps you could take your car to Carmax and get a quote for comparison . Dealers don't usually like cars with mods and could use that as an excuse to low ball you.

I traded my no-mods '15 Prestige S4 in at a Porsche/Audi dealer and still got low balled.

[Dirt]

So a big thing your not considering is the tax. If you new car is going to be say $40K and the dealer gives you $19k you only pay HST on the net $21k. If you sell private your on the hook for the full $40k on the new car.

So at 13% HST multiply what the dealer will give you by 1.13 and compare that to what you can pull from the private market.

That's not quite how it works. You still need to consider how much he owes on the car, if anything. Using your example.....if he still owes $15k and the dealer gives him $19k, only $4k goes towards the purchase price of the new car. It'd also be no different than a private party sale where you make $4k and use that as a down payment on the new car.

Either way, you're buying a $40k vehicle and will be taxed accordingly. Uncle Sam will get his money regardless of whether or not you pay cash, have a trade-in, or finance the whole thing.

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[Crucible35]

That's not quite how it works. You still need to consider how much he owes on the car, if anything. Using your example.....if he still owes $15k and the dealer gives him $19k, only $4k goes towards the purchase price of the new car. It'd also be no different than a private party sale where you make $4k and use that as a down payment on the new car.

Either way, you're buying a $40k vehicle and will be taxed accordingly. Uncle Sam will get his money regardless of whether or not you pay cash, have a trade-in, or finance the whole thing.

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but we're not talking about Uncle Sam here...... Canadian Tax laws apply.

[Dirt]

but we're not talking about Uncle Sam here...... Canadian Tax laws apply.

Good point, and I obviously missed the OP's location. Who's Uncle Sam's northern cousin? And how does he/she handle things differently?

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[b6onboost]

Do yourself a favor and get a trade offer from a dealer or CarMax. Seeing that number brings a hefty dose of reality to your selling strategy. Go from there.

[RudyH]

I own the car completely, so the money would be going towards a down payment of a newly used (usually buy a 2-3 yr old car).
I guess the warranty does fall under the 'aftermarket' side of things too where that is worth a few g's to someone else. More so then even modifications would.

Thinking I am going to end up going lateral towards a B8.5 but specifically 6MT. I would likely just swap parts to the new car. Literally the decision is because it might be the last 6MT newer car I will ever be able to buy - based on the way the market is going. The only other option /w AWD and some power is a STi but those years are behind me....or a 335xi/340xi

[XxSullyxX123]

That's not quite how it works. You still need to consider how much he owes on the car, if anything. Using your example.....if he still owes $15k and the dealer gives him $19k, only $4k goes towards the purchase price of the new car. It'd also be no different than a private party sale where you make $4k and use that as a down payment on the new car.

Either way, you're buying a $40k vehicle and will be taxed accordingly. Uncle Sam will get his money regardless of whether or not you pay cash, have a trade-in, or finance the whole thing.

.

just as an FYI,,,,obviously it doesn't pertain to this guy, but since you brought it up.

Tax savings on a trade in has nothing to do with your loan amount and if you still owe money. in your example, if the dealer gives you $19k, $19k comes off of your taxable bill (at least in NY and CT where Ive bought cars) Now that being said, you only have $4k towards your purchase as a down payment (again, using your example), but the taxable amount is based on the purchase price minus the trade's value.

[jsh139]

Good point, and I obviously missed the OP's location. Who's Uncle Sam's northern cousin? And how does he/she handle things differently?

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Johnny Canuck?

[Dirt]

just as an FYI,,,,obviously it doesn't pertain to this guy, but since you brought it up.

Tax savings on a trade in has nothing to do with your loan amount and if you still owe money. in your example, if the dealer gives you $19k, $19k comes off of your taxable bill (at least in NY and CT where Ive bought cars) Now that being said, you only have $4k towards your purchase as a down payment (again, using your example), but the taxable amount is based on the purchase price minus the trade's value.

Thanks for keeping me honest. Turns out there are a handful of states that make you pay taxes on the purchase price regardless of the trade-in value, and I had purchased cars in two of them.

[XxSullyxX123]

Thanks for keeping me honest. Turns out there are a handful of states that make you pay taxes on the purchase price regardless of the trade-in value, and I had purchased cars in two of them.

No worries ! Wow that stinks that some states do that. But then again I pay lots of taxes elsewhere in NY so they certainly get me in other places!


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[Steve_Ep]

Opp let us know what you get offered. I'm in the GTA and have a 2010 S4 (loaded except B&O) and would be interested to see what dealers are offering on a trade...

[ENV²]

I try to ALWAYS sell private party.

More money to be made.