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X5 E70 (2007 - 2013)
E70 BMW X5 produced between 2007 and 2013. Discuss the E70 X5 with other BMW owners here.

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  #1  
Old 07-21-2016, 11:53 AM
mfk mfk is offline
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Location: NY
 
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Mein Auto: X5d
Best way to sell a car

Hey guys,

First of all, I've never sold a car to a private party, so I am new to this. What's the best approach to sell a car? I don't want to take it to a dealer and get ripped off. Is autotrader the way to go or has anyone has success with the classified section of bimmerfest? I have a 2013 x5d with less than 30k miles. It has the cold weather and the technology package. And I have a set of winter tires I am willing to throw in.

Thank you.
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  #2  
Old 07-21-2016, 12:51 PM
Kostyan Kostyan is offline
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Location: Baltimore
 
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Posts: 173
Mein Auto: 12 X5 diesel
Quote:
Originally Posted by mfk View Post
Hey guys,

First of all, I've never sold a car to a private party, so I am new to this. What's the best approach to sell a car? I don't want to take it to a dealer and get ripped off. Is autotrader the way to go or has anyone has success with the classified section of bimmerfest? I have a 2013 x5d with less than 30k miles. It has the cold weather and the technology package. And I have a set of winter tires I am willing to throw in.

Thank you.

It will be challenging to find a private party with 30-40k in cash for a vehicle like this, unless your pricing it very aggressively. You can try autotrader, craigslist. cars.com but if no bites you will have to take it to CarMax as a last resort, depending how motivated are you.
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  #3  
Old 07-21-2016, 12:57 PM
gatorjaws gatorjaws is offline
gatorjaws
Location: colorado
 
Join Date: May 2013
Posts: 130
Mein Auto: 2013 x5 35d
There's plenty of places on the internet like Edmund's that you can punch in the info about your car to see what its worth. They usually give you all the values:trade in, u sell, whatever. So do that and then see if its worth the hassle of selling it yourself.
If you sell it yourself start by putting a sign in the car window and always park it where people can see. The faster you need to sell the less your going to get.
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  #4  
Old 07-21-2016, 02:02 PM
ArgentoCarNut ArgentoCarNut is offline
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Location: Mid-South
 
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Posts: 62
Mein Auto: 2005 BMW M3
I have had very good luck buying and selling on Cars.com, autotrader and ebay.

Your biggest hassle/concern should be collecting and signing over the title, due to the amount most likely requiring the use of a payment instrument other than cash


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  #5  
Old 07-21-2016, 02:14 PM
kdavis61 kdavis61 is offline
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Location: Denver,CO
 
Join Date: Jul 2013
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Mein Auto: 2005 X5
Best way to sell a car

I have sold all of my cars within days on Craigslist. Usually they give me a financed check which I then have my bank verify funds, and it works very well.
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  #6  
Old 07-21-2016, 02:16 PM
kdavis61 kdavis61 is offline
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Location: Denver,CO
 
Join Date: Jul 2013
Posts: 140
Mein Auto: 2005 X5
The most expensive car I've sold on CL was a 2014 G65 AMG for $105,600, they obviously financed it and then my bank verified funds.
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  #7  
Old 07-21-2016, 02:17 PM
ard ard is online now
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Location: Sierra foothills, California USA
 
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Posts: 13,189
Mein Auto: '12 X5 35d/E39M5/996TTX50
Put together meticulous documentation on the car. Windows sticker; brochure you got back then when you were looking for that car; list of all options AND a list of features. Details on every service vist plus receipts to back it up.

This will establish your credibility- to both buyers AND to yourself - that you have a car that is distinguished from those with only a carfax here or there.

Understand the REAL value. Study sales, asking and 'all the book' prices (trade in, retail, dealer... blue, kelly, black, etc)


Id post it on a couple of free sites, see what you get- then cars.com and autotrader.

Id be unconcerned with the transaction- when you get a lead, come back and ask for help. Lots of us have done it safely.
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  #8  
Old 07-21-2016, 02:23 PM
Flying Ace Flying Ace is offline
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Mein Auto: E90 M3; '12 X5 Diesel
any of the sites mentioned plus this forum are good channels to sell privately.

Pro tip: If the buyer is financing the purchase through a bank, or using a bank check (cashier check) request to see a copy of the bank check first. Then call the bank and verify the check is good. You don't want a situation where the buyer is floating the funds or heaven forbid scamming you with a bad check.

When I sold my last car, the buyer was paying with a bank check (not sure if loan or just a bank check). He actually mailed me the check a few days before (bad move on his end too, as I could have defrauded him and ran away, I suppose). I called the bank, gave them the check number and amount and they verified it was a good check and ready for deposit.


An alternative is to do a interbank transfer in person on transaction day. When I bought my X5 privately, the seller wanted a bank transfer instaed. So it was as easy as going into my bank, order up EFT/ACH.

Generally, I would not accept a personal check, unless the bank it's being written from is the same bank you have, but you'll still have to verify it. In this case you two might as well just go to the bank together and do a "intra"-bank transfer.
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Last edited by Flying Ace; 07-21-2016 at 02:31 PM.
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  #9  
Old 07-21-2016, 02:28 PM
Flying Ace Flying Ace is offline
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Mein Auto: E90 M3; '12 X5 Diesel
Quote:
Originally Posted by kdavis61 View Post
I have sold all of my cars within days on Craigslist. Usually they give me a financed check which I then have my bank verify funds, and it works very well.
unless you guys do the deal on a Sunday...good luck calling any bank to verify a check.

It happened when I bought my M3 from a BMW dealership. They agreed to open (partially, just the salesman's assistant and the finance manager) on a Sunday just for me as I was coming in out of state.

I paid with a personal check. They called to try to verify funds...and had to spent an hour doing the verification. I doubt they actually verified it. They saw that I was legit, I paid partially with a credit card too....so they let me go. The funds were placed on hold by Wednesday, and didn't fully transfer until the following week....so they waited a good week until they actually got the money.
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Last edited by Flying Ace; 07-21-2016 at 02:32 PM.
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  #10  
Old 07-21-2016, 03:59 PM
kdavis61 kdavis61 is offline
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Location: Denver,CO
 
Join Date: Jul 2013
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Mein Auto: 2005 X5
Quote:
Originally Posted by Flying Ace View Post
unless you guys do the deal on a Sunday...good luck calling any bank to verify a check.



It happened when I bought my M3 from a BMW dealership. They agreed to open (partially, just the salesman's assistant and the finance manager) on a Sunday just for me as I was coming in out of state.



I paid with a personal check. They called to try to verify funds...and had to spent an hour doing the verification. I doubt they actually verified it. They saw that I was legit, I paid partially with a credit card too....so they let me go. The funds were placed on hold by Wednesday, and didn't fully transfer until the following week....so they waited a good week until they actually got the money.

I have had good luck with our credit union here that we have been using for 15+ years. They always have called the other parties bank and I've never had an issue.
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  #11  
Old 07-21-2016, 05:10 PM
scar scar is offline
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Location: Coastal Maine, USA
 
Join Date: Mar 2007
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Mein Auto: E39 M5/E70 X5 M sport
If you find a local buyer, just do the deal at their bank or credit union. I have done this Several times - works great. Safe. Secure.

As to where, I have not seen an X5 go thru yet but bringATrailer.com is an excellent site. I almost bought a 64 GTO convertible I didn't need a couple weeks ago!
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  #12  
Old 07-21-2016, 05:33 PM
jp_fw25 jp_fw25 is offline
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All great suggestions. I just want to add what I think is a good site to post an ad, cargurus.com. It will do a price analysis based on your car, mileage, area, etc, and it will tell you if your price is a great/good/fair deal for the buyer, and will show the same info to people looking at your ad. I think it's free to post for private sellers.
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  #13  
Old 07-22-2016, 07:28 AM
mfk mfk is offline
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Location: NY
 
Join Date: Aug 2013
Posts: 24
Mein Auto: X5d
These are great suggestions and super helpful. Thank you very much. I'll try the free sites first and see what happens. It's really an awesome car.
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  #14  
Old 07-22-2016, 07:31 AM
DjD-X5 DjD-X5 is offline
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Mein Auto: '13 X5 xDrive 35i Premium
Quote:
Originally Posted by Kostyan View Post
It will be challenging to find a private party with 30-40k in cash for a vehicle like this, unless your pricing it very aggressively. You can try autotrader, craigslist. cars.com but if no bites you will have to take it to CarMax as a last resort, depending how motivated are you.
Don't need cash to buy private party... Buyer goes to bank, gets loan and the bank writes seller a nice check!
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  #15  
Old 07-22-2016, 09:32 AM
Flying Ace Flying Ace is offline
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Location: San Francisco, California
 
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Mein Auto: E90 M3; '12 X5 Diesel
Quote:
Originally Posted by DjD-X5 View Post
Don't need cash to buy private party... Buyer goes to bank, gets loan and the bank writes seller a nice check!
If you do a car transactions in cash...ideally money should be handed over a crumbled up dirty brown bag.

You know...make both sides feel really dirty handling all that cash.
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2008 E90 M3 (oil distillates guzzler)
2012 E70 X5 diesel (oil burner)
2013 bicycle (oily chain)

Last edited by Flying Ace; 07-22-2016 at 09:33 AM.
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  #16  
Old 07-22-2016, 12:33 PM
ArgentoCarNut ArgentoCarNut is offline
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Location: Mid-South
 
Join Date: Feb 2016
Posts: 62
Mein Auto: 2005 BMW M3
Quote:
Originally Posted by Flying Ace View Post
If you do a car transactions in cash...ideally money should be handed over a crumbled up dirty brown bag.



You know...make both sides feel really dirty handling all that cash.


I bought a Land Cruiser from a friend of mine. Paid him in $1 bills...


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  #17  
Old 07-22-2016, 04:28 PM
chatcher chatcher is offline
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Location: pa
 
Join Date: Dec 2013
Posts: 1,054
Mein Auto: e46 m3
I have bought a lot of cars with cash. I take a cashiers check its easy.
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  #18  
Old 07-22-2016, 06:21 PM
admranger admranger is online now
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Location: Las Vegas
 
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Mein Auto: 2002 M3
Once you do your initial research, don't be afraid to go to carmax. They offered me a very, very fair price for one of my cars a couple of years ago. Much better than trade in value. You have 7 days to make up your mind. It's worth the short time it took for them to look at the car (45 minutes iirc).
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