Cash for cars websites, scam or no?

Hmlk22 · 05-10-2014 6:08pm #1

Hi

I'm looking to sell my car ASAP as I'm moving and I'm having a bit of trouble doing so. Was looking into those cash for cars websites, anyone ever have any dealings with them or any tips and advice on using them? Car is a Mini Cooper in good condition so I would be hoping to get a relatively good price for it (enough to pay off my loan anyways!)

Thanks in advance

Alanstrainor · 05-10-2014 6:11pm

It's simple, they will offer you far below market price for it, and sell it again for profit. Sell it yourself is my advice, put it up cheap enough and people will ring. You'll do better than you would with the cash for cars crowds!

biko · 05-10-2014 6:14pm

It's not a scam. They just make profit from people that can't or won't sell their car themselves.

Sam Kade · 05-10-2014 6:14pm

They want you car for pittance so that they can sell it on for a massive profit. I just replied to an ad last week out of curiosity to find out how much the would offer for my 1998 car €100 they said I told them that the battery I bought for it at the start of the year cost more than that. Any wanted ad is a waste of time.

Hmlk22 · 05-10-2014 6:28pm

Suppose might be worth seeing what they would offer me for it, altho they prob prey on ppl like me looking for a quick buck!

Alanstrainor · 05-10-2014 6:35pm

Hmlk22 wrote: »

Suppose might be worth seeing what they would offer me for it, altho they prob prey on ppl like me looking for a quick buck!

Bingo.

robtri · 05-10-2014 6:49pm

like any business, they are looking to make money.... most retail try to buy product in and sell it on for a profit, usually a 30 to 50% mark up....

for most they are not worth it, but for some it can be handy to get rid of car quickly

Hmlk22 · 05-10-2014 6:51pm

Anyone have any idea ballpark what they'd offer for an 05 mini?

quadrifoglio verde · 05-10-2014 6:57pm

Hmlk22 wrote: »

Anyone have any idea ballpark what they'd offer for an 05 mini?

I'd say less than 2k...well that's what I'd be offering if sole intention is to flip

biko · 05-10-2014 8:35pm

Hmlk22 wrote: »

altho they prob prey on ppl like me looking for a quick buck!

I don't think it can be called "preying" when you approach them first

mickdw · 05-10-2014 9:13pm

I know a chap that got a reasonable price on a poor high mile 320d from merlin auction cash for car.
They paid a low price but considering what needed spending on this car to make it saleable, he was happy to just drive it in the gate and take his money as he was leaving the country.
The car was worth about 2500 in good condition and it needed exhaust manifold and most of exhaust, a few bushes, front shocks, and discs and pads all round. They gave him 1200.

George Dalton · 05-10-2014 9:20pm

That mini would fetch more in an auction than the cash for cars guys would give for it. It's exactly the age and price range of car that is doing well at auction at the moment. We use the auctions to shift some trade ins we don't want to retail and have been pleasantly surprised at the money some stuff has fetched recently.

Hmlk22 · 05-10-2014 9:58pm

George Dalton wrote: »

That mini would fetch more in an auction than the cash for cars guys would give for it. It's exactly the age and price range of car that is doing well at auction at the moment. We use the auctions to shift some trade ins we don't want to retail and have been pleasantly surprised at the money some stuff has fetched recently.

Oh interesting hadn't thought to look into auctions, would the cut for the auctioneers be high?

Cash for cars websites, scam or no?

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