[BiggieJ]

has anyone sold a car on autotrader or any other sites? i need to sell my car but im a complete newb when it comes to that.... so is there anything i should look out for? where should i handle the transaction? in term of paper work what do i need to file or get? (i still owe on my car, BTW) pretty much everything. any other tips/advice would be of great help. thanks in advance

and i am selling my 330 and movin' on up to the 335 coupe

[Sedan_Clan]

Originally Posted by BiggieJ

has anyone sold a car on autotrader or any other sites? i need to sell my car but im a complete newb when it comes to that.... so is there anything i should look out for? where should i handle the transaction? in term of paper work what do i need to file or get? (i still owe on my car, BTW) pretty much everything. any other tips/advice would be of great help. thanks in advance

and i am selling my 330 and movin' on up to the 335 coupe

Yes, I've sold a vehicle on AutoTrader. If I were you, I'd pay the extra cash to have your car placed on the cover of the magazine for added exposure. I handled my transaction at the bank that funded my loan, and I would suggest that you do the same. Have a check cut to your bank in the amount of the payoff, and a check cut in your name for whatever profit you made from the sale. You're going to need to obtain the DMV paperwork for your transaction.

[bavarian19]

I dont know if this is an option for you, but I had a very pleasant experience with carmax when I sold my previous vehicle. I got just about what I expected out of it (right about BB value)

[Nikki]

If you want to sell your car fast, then bring it to carmax and you will have it sold instantly for more than dealer trade in. If you want to get a little more money for it and have time to kill, the autotrader is great but it may take over a month to sell it. For paperwork, search online for the appropriate bill of sale form for your state.

[bavarian19]

Originally Posted by Nikki

If you want to sell your car fast, then bring it to carmax and you will have it sold instantly for more than dealer trade in. If you want to get a little more money for it and have time to kill, the autotrader is great but it may take over a month to sell it. For paperwork, search online for the appropriate bill of sale form for your state.

Luckily the carmax dealer is right around the corner from my BMW dealership. I brought my SUV in to Carmax, dealership picked me up, signed paperwork for the E90... all withing about 2 hours

The best part is that right next door to carmax (what I consider the costco of cars) is the Ferrari/Lamborghini/Maserati dealership... two extremes of the auto industry

[Nikki]

Yeah Vista BMW where I got my car is 2 minutes away from the Carmax also, on the same street-Sample Road. Most of the dealers are in that area. The exotic car dealer is the next road south-Copans Road. :P

[bimmer4me]

FWIW, I sold two cars over cars.com. Both sold within 3 weeks and I received 2K - 3K more than the offer from carmax.

[CALIF65GM]

I sold my old Accord on autotrader.com. It took about about 3-days total. I posted it on the day that my CA called and told me the car had arrived.

I sold it on Sat AM and picked-up my e90 Sat PM. Of course, I would imagine that it's slightly easier to sell a used Accord than a $32K+ BMW.

I don't know about paperwork when you still owe on the car though. Mines was paid for. First thing that you should do is definitely send the release of liability form to DMW; so that, if the buyer gets a ticket or accident, you won't be held responsible.

[ScBlacksunshine]

Try Craigslist first, I sold my old Solara on it, was sold pretty fast and saved me $70 instead of posting it on Autotrader.

[hotsand5]

same here, sold my VW on cars.com (also it gets posted on kbb.com). Sold the car in 3 weeks and for 2,500 more than the dealer wanted to give me.

[BiggieJ]

thanks for all the info guys. so how should i handle the money? only cashiers check? only cash? and if its a check and i deposit it to my bank, how long will it take to clear? i feel like im being paranoid but after hearing all these stories of scammers out there, cant be too safe.

[Sedan_Clan]

Originally Posted by BiggieJ

thanks for all the info guys. so how should i handle the money? only cashiers check? only cash? and if its a check and i deposit it to my bank, how long will it take to clear? i feel like im being paranoid but after hearing all these stories of scammers out there, cant be too safe.

It should be a check from a financial institution, not a personal check. Cashier's checks and cash are cool too! What company financed your car? Do they have a local branch? If so, it's best to meet there with two checks (..one for you; one for them) as I previously suggested.

[ScBlacksunshine]

Or if you're selling it to a local buyer, have him/her meet you at your local bank and give you the money right there (be it cashier check/money order or cash) so that way you can deposit it right away and prevent majority of the check scam

[BiggieJ]

Originally Posted by ScBlacksunshine

Or if you're selling it to a local buyer, have him/her meet you at your local bank and give you the money right there (be it cashier check/money order or cash) so that way you can deposit it right away and prevent majority of the check scam

yeah thats what i was thinking. i got financed through capital one and no capital one banks here, so thats kinda out.

[ScBlacksunshine]

Originally Posted by BiggieJ

yeah thats what i was thinking. i got financed through capital one and no capital one banks here, so thats kinda out.

Yeah, but you can always call the Capital one during the transaction and verify the check is legit, also when you go inside the bank and deposit the check, they usually will filter out the bad counterfeit checks, however, that's not 100% foolproof since some of the more sophisticated check are harder to weave out and the bank will hold it for couple of days before they alert you the check is not legit.

[SteveMD]

I have sold cars on Craiglist and Autotrader. Be carefull of the following scam which is quite popular: You will receive an email from a person who is representing the buyer (who is out of the area, sometime out of the country).

He will offer you asking price but will explain that he has a cashiers check for 2-3-4000 more because that is what the buyer gave him.

He will send you the check which is fake and ask you to redeem the difference which of course he pockets.

Not sure if it ever works but someone tried it on me.