Need advice on selling a used car.

Discussion in 'After Hours Lounge (Off Topic)' started by Moe Maishlish, May 28, 2003.

  1. Moe Maishlish

    Moe Maishlish Supporting Actor

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    Hi all!

    Ok, now that I finally bought a new car (see this thread for my excited ramblings on the subject -> http://www.hometheaterforum.com/htfo...98#post1572106 [​IMG]), I've gotta unload my current vehicle. I've never sold a car before, so I could use some advice here...

    I got a message from the dealer that my new car will be delivered within the next two weeks, which means that I need to keep my current vehicle (1994 Honda Civic Si Coupe) until the new one arrives. I can't be without a car, as I depend on it on a daily basis for work, etc.

    My plan is to keep the civic until the day that I take posession of the new car, after which I want to put it up for sale. I'm just wondering how to go about this whole situation.

    I should mention that I intend to list an asking price that I consider to be fair for the car - about $7,700 based on a few factors. Although it's got 240K on it, I did quite a bit of maintenance on the car in the past year (timing belt, alternator, water pump, plugs, wires, new tires, radiator, muffler, exhaust, boot, bearings, etc.) and have all the receipts & paperwork to prove it. I'll prepare a file with the maintenance history of the car for any potential buyers to see.

    The car is also in very good condition body wise, and the interior is spotless. I'm also aware that this model of Civic is still in high demand, and given the quality of the car I think the price is fair. I installed a Clifford alarm system a few years ago with vehicle immobilizer/ignition kill, and keyless entry.

    I'm also going to clean the car from the inside & out to get rid of any bird-poopy and residual signs of winter...

    Now on to the questions... [​IMG] :

    1) Where to list - I plan on listing the car on the Canadian Autotrader page (http://www.autotrader.ca). I want to avoid newspaper adds, as they're small, don't offer any pictures, and are somewhat expensive. Is there anywhere else I could list the car (ebay is not really an option)

    2) Insurance - how should I continue insuring the car? I assume that if people are going to test-drive it, it's going to need to continue with some form of insurance, but it doesn't require full coverage. Am I correct in assuming that? Obviously, after I sell the car, I'd cancel the insurance.

    3) Test Drives - I'm sure that I should ask to see a valid drivers license before letting anyone drive it... but should I also ask them for other information like insurance? I won't let them take it out alone.

    4) Transfer of ownership - what do I need to do here? Do I need to go to the DMV to get some special forms, or do I just sign the registration over?

    5) Taxes - How do I handle the sales tax? I'm pretty sure that when I sell the car, the standard taxes (GST & PST in canada) need to be applied to the final price.

    6) Payment - how should I accept payment for the car? I'm definately not taking a cheque, but would a money-order be ok? I'd assume Cash is fine, but is it?

    What else am I missing?

    Moe.
     
  2. Shane Bos

    Shane Bos Second Unit

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  3. brentl

    brentl Cinematographer

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    I'd consider going to his bank, with his cheque and with him. Confirm the money is ready. It's much easier if you bank at the same bank, you can move funds over at the same time..

    I wouldn't use a money order, they can be cancelled!

    Are you sure that the price is realistic Moe??

    I just did a quick look at autotrader.ca and found that most cars in the price you were looking at had around 70-80 000 less KMs that your car.

    I guess you built in a good margin, and will push all that you've done. Hopefully the person that buys it will be a honda fan and thay know it's good for another 150K.

    Brent
     
  4. Scott Merryfield

    Scott Merryfield Executive Producer

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    I would not even list the car for sale in any paper to begin with. Just place "for sale" signs in the windows and park the car in a place where it can be seen. If you do not get any bites in a couple of weeks, then advertise. The site www.edmunds.com has a free feature that allows you to create your own window-sticker, listing options, an asking price, and the fair market value of the vehicle.

    I sold two cars by simply parking the car in our driveway with "for sale" signs. One car (a '90 Ford Probe) sold in one day, before I even had time to clean it up! The other, a '93 Toyota Camry, sold in a week.

    I would not cancel any insurance until the car is sold. The number of bad things that could happen (stolen, hit while parked, etc.) far outweight the little money you will save.
     
  5. DaveHo

    DaveHo Supporting Actor

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    Being from the states I'm not sure how the tax laws compare, but in PA there is most definitely sales tax on used car purchases. Even from private individuals. Going along for the test drive is a good idea. Since that car is considered a performance car, you're going to have to accept the fact that people are going to want to flog it. Within reason let them. If all runs as well as you say it should be a good selling point. People don't want to be told they can't drive a performance car like a performance car on a test drive. Major turn off and raises suspicion especially with that kind of mileage.

    I hope that mileage is in km and the price is Canadian because there ain't no way in hell regardless of condition that car is worth that much in USD. Aftermarket parts such as the alarm typically don't mean squat when it comes to resale. If you have any other performance parts on there I would recommend taking them off and returning it to stock. Modded cars are usually assumed to be driven hard and put away wet, typically taking away from the value as well.

    -Dave
     
  6. Matt Stryker

    Matt Stryker Screenwriter

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    How are the tires? Most dealerships replace the tires on their used stuff if they are even slightly worn...evidently its kinda like "curb appeal" when selling a house.

    If they are going on a test drive without you, I'd have their license, and their car keys. And while putting signs in the window is good, I don't know if I'd leave such a theft-desirable car in a parking lot.

    You might also check and see if there are any import racing forums in your area. Those are the kids who will pay top dollar for an Si.
     
  7. Moe Maishlish

    Moe Maishlish Supporting Actor

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