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Selling My RS5 - advice needed

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5.9K views 22 replies 11 participants last post by  llBen  
#1 ·
Hi All

I've taken the decision to sell my RS5 and I wondered if I could get some advice on here regarding the sale process. I've approached some Audi dealers/buyers and they aren't offering me quite what I want for the car. Obviously they need to make a profit. So I've decided to sell the car privately on Autotrader and pistonheads.

BUT, I can tell you, it makes me nervous!

The last thing I need is having joyriders coming around to my house and wasting my time, and potentially putting the car (and me!) at risk. Also the thought of handling over £45K in cash makes me nervous. I think I'd insist that the transaction happens at my local HSBC where the money can be paid straight in over the counter.

Does anyone have any suggestions how I can minimise the risks and reach a conclusion with minimal stress?

On the positive side the spec is FANTASTIC (£13K of extras) - it has an exclusive paint colour (Mambo Black) and exclusive leather (Alabaster White) so I believe that it will attract buyers far and wide who are looking for an RS5 that is a bit special.

I'll post the photos and spec details in a few minutes

Thanks!
 
#2 ·
Optional Extras (with original prices)

Exclusive Paint Finish £1735 mamba black
Matt Aluminium Styling Pack £680
Bang & Olufsen £600
Tech Pack High (HDD Nav, AMI & Cruise) £1995
Electric Front Seats with Memory on Drivers side*
Heated Front Seats £280
Exclusive Leather/Alcantara Pack £2300 alabaster white
TV Reception with DAB Radio £870
Bluetooth £295
Rear Parking Camera £410
Luggage & Storage Pack £180
Advanced Key £505
Auto Dimming Rear View Mirror*
Electric Folding Dimming Door mirrors with Memory*
4 Yr or 75k Warranty £535
20” Rotor Alloys £1735
*convenience package £615

total extras: £12,735 (inc vat)
 

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#3 ·
Very nice car, why are you selling?

With regards to dealing with prospective buyer, it's a matter of just using common sense and in this day and age a little faith that we are still mostly an honest society.

Obvious basics....
1. Always meet prospects at your home or work where there are others around to assist if required.
2. If your prospect claims to be a trader research them on google before they arrive.
3. Test drive.... Assess the prospects seriousness before allowing a test drive. Don't just hand over the keys, take them out for a drive. If they wish to drive the car ask them to provide proof of insurance and a drivers license without this you risk full loss should the worst occur. Having by now spent at least 30 mins with them you should know if they are serious, only if you feel comfortable allow them to drive the car.
4. When the time comes to doing a transfer I wouldn't deal in cash. Request a bankers draft (to be accepted by your bank before you proceed) or a direct fund transfer into your account before you sign over the car.
 
#4 ·
Car looks really nice. Good luck with the sale.
When it comes to test driving I wouln't let anyone drive it who couldn't prove he had licence and full insurance. When it comes to payment it's a two way street. They need to be sure your not scamming them for their cash too. How about using a local solicitor to hold the keys and reg docs and release them on reciept of funds into thier account ? They would probably only charge a couple of hundred for that service.
 
#5 · (Edited)
In this day and age I would just go with the prospective buyer (as Spinner says, after having spent some time with them and knowing whether they are serious, etc) to their bank, have them pay the money into your account (HSBC/Barclays/Natwest offer an instant transfer service as standard, for banks that don't there's always CHAPS @ £30 or so). From their bank you can either call your bank or log into your online banking from your phone.

I'm not sure there is any reason to doubt once the figure is in your account - am I wrong? This is something I'd call/visit my bank account manager to confirm before doing it this way of course.

EDIT: And ultimately if you've got a prospective buyer but you don't get a good vibe from them/can't work out what you don't like, then consider getting a notary involved for added peace of mind.

EDIT2: Gorgeous car with a great spec list- when was it built/what is the mileage?
 
#7 ·
WOW, that's a beautiful car. I've been considering trading my S5 for an RS5.. if only it were US spec, I'd snap that beauty up in an instant :(
 
#8 ·
Hi Guys

Thanks for all the advice and the comments - much appreciated.

Some more info on the car:

Mileage: 9000

Registered: 6/5/2011 (on 11 plate)

No of former keepers: 1 before me (I bought the car with only 300 miles)

Where: Warrington, Cheshire

Service history - just serviced at main audi dealer last week

Tyres: 6 & 7mill confirmed during service inspection last week.

Taxed: until end of April 2013

I'm thinking of putting it up for £46,500. Judging by what's out on the market right now, it would seem to be a very good price considering the spec.

I think the advice given so far mostly suggests that dealing with potential buyers is about getting to know them as well as possible to assess whether they are legitimate and honest. I guess if someone travels long distance, its a good demonstration of seriousness.

The ideal buyer would be someone who has already driven an RS5, and is just shopping around for the right car/spec. If a prospective buyer called up asking me questions about the car that suggested they know very little about it, I would really struggle to take them seriously.

Do you think its reasonable to ask a buyer if they can show some proof that they could afford the car? It sounds cheeky but could help weed out the time wasters.
 
#12 ·
Do you think its reasonable to ask a buyer if they can show some proof that they could afford the car? It sounds cheeky but could help weed out the time wasters.
Short of your buyers showing up in an R8 GT or other exotic that clearly demonstrates their wealth, I don't think there's anything wrong with verifying their financial situation. :cheers:

Worst that could happen is that they'll be slightly offended, but it's much better than having your car being driven away with your pockets empty!
 
#9 ·
can't see an issue in asking if they have funds in place and in full, and how they would intend to transfer them to you.

people who "have to sell my own car" "finalise the loan" etc may be wasting your time or getting in the way of a buyer who is ready to go.
 
#10 ·
I wouldn't worry about that until you've already had a time waster or two - depends how quickly you need to sell of course but I'd be careful not to alienate people.

If you do - just tell them you've had timewasters :)
 
#11 ·
Nice. Have you advertised the car before im sure ive seen it before. How come you selling?

If youre buying another motor id be surprised if you didnt get better than the price you want for it. A month ago i was bid 51k. Mine has slightly more spec and newer but not the exclusives. Good luck and with a bit of luck will go to a fellow forumee at that money its a bargain.
 
#14 ·
Preferably somewhere fairly public too! (I know you suggested your HSBC).. those shady back alley deals in the abandoned parking lot could mean trouble! :yikes:
 
#15 ·
Or even ask your friendly local audi dealer to act as a "backdrop" !
 
#18 ·
mmmm

our last sale went from a sign in the car on the side of the road for near as dammit what we were asking. pretty much everyone who phoned up from autotrader advert asked questions on spec which was actually in advert and a lot said "I can buy one like yours for £xxx less" which on investigation was a lower spec, older, more miles, 300 miles away.

suspect you could be right about pistonheads being the place to start.
 
#22 ·
Dont accept a bank draft and hand over the car whatever you do. When i sold my S5 and my Q5 i was worried about the same and having spoken to my bank they advised that a bank draft is easily forged and is not worth the paper written on unless funds have cleared into your account which can take time.
These days most people are banking online and can easily transfer money to another acocunt in to your presence so you can verify the trasaction almost instantly, but better still is to go to yours/their bank and transfer the money whilst you are there. Call your own bank to verify.
It is very daunting to think what could happen and what kind of scrotecould turn up. Have a friend turn up for some extra support just before they arrive; eases the pressure a bit. Once you have spoken to them for a few mins you will get an idea of how serious they are too.
Remember, an honest buyer is also in a nervous position too about the genuine-ness of the seller & car.
Good luck
 
#23 ·
Hey if all else fails there's WeBuyAnyCar! :D