2017 M3 competition selling advice

kss · 07-10-2021, 11:58 AM

I posted this in the general forum, but thought I’d post it in the Canadian forum as well, in case I need to be aware of any differences with insurance/liability issues in Canada vs other markets.

Anyway, given used prices, I finally decided to list my 2017 M3 Comp (still in under warranty), on autotrader last night. I had listed it here as well a few months ago, but didn’t really get any interest. Anyways, after posting on Autotrader last night, I got 3 requests for test drives this morning. What is the good approach to deal with test drives in a private sale? I don’t want someone looking to come in just for a joy ride. Also not sure about the whole safety security concerns. I don’t want someone driving it stupidly, also concerned about liability. I know I’d want to take at drive myself, but I’ve bought new For the past 18 years, and basically traded in my cars so not sure of the do’s and dont’s for a private sale.

While I traded in my last 3-4 cars, the one time i did try to sell privately 2008 335xi), a couple of guys drive like idiots - which I do myself a times - but than I own the car and am insured). Anyway, I always ended up trading in it in my car in the past, and wanted to get some advice on what to do, not do and allow to prospective buyers and still protect myself and my car.

If I don’t get the price I want, I intend to keep it and extend the warranty, so want to make sure car is in the same great condition that it’s in now.

I’d appreciate selling advice on those with more experience selling privately.

anderson87 · 07-10-2021, 02:20 PM

Cheque/cash in hand.

If it's under warranty any suspension issues/noises or other items would get repaired by dealer. Usually I like to test drive to make sure no noises or issues but with warranty that eliminates concerns.

If they have never driven an F80 they can go visit a dealer who has one if they are not serious enough to finalize price and other details.

I bought mine and had cheque payable to seller prior to even seeing it the car. We discussed thoroughly before seeing it.

kss · 07-11-2021, 12:12 PM

Quote:

Originally Posted by anderson87

Cheque/cash in hand.

If it's under warranty any suspension issues/noises or other items would get repaired by dealer. Usually I like to test drive to make sure no noises or issues but with warranty that eliminates concerns.

If they have never driven an F80 they can go visit a dealer who has one if they are not serious enough to finalize price and other details.

I bought mine and had cheque payable to seller prior to even seeing it the car. We discussed thoroughly before seeing it.

Thanks. When receiving a cheque or draft, anything to watch out for in terms of fraud?

quikM2 · 07-11-2021, 12:14 PM

Quote:

Originally Posted by kss

Thanks. When receiving a cheque or draft, anything to watch out for in terms of fraud?

Go to the bank together to confirm everything

kss · 07-11-2021, 12:18 PM

Quote:

Originally Posted by quikM2

Go to the bank together to confirm everything

Thanks! Wasn’t sure best approach - or if that is acceptable practice.

After I said no to test drives, I didn’t get a reply from any of the three responses, so probably weren’t serious buyers anyways.

F80dreams · 07-11-2021, 08:04 PM

Just like anything its judging a character by your instincts. I wouldn’t go to the extreme of going to the bank to get the draft together but depends how you feel.

I accepted cash recently of almost $7k selling my previous car. Was kinda nervous accepting cash but much harder to counterfeit the new bills.

justm3f80 · 07-11-2021, 08:37 PM

like what QuickM2 said. Arrange bank visit with the buyer, they bring a draft for the amount and you as your bank rep calls their branch to confirm the money is available and get it transferred. I would be very careful with test drives with such a car. Request for service history, mod list etc.. would have been a reasonable first ask. Not a test drive.

ilovemym4 · 07-12-2021, 07:30 AM

You have a huge advantage of being a seller in this market. And you don't seem desperate to sell at all. Make it clear in your ad, no test drives/pilots. People looking for these cars pretty much know what they're getting, especially if your car is unmodded. If your car is modded, allow for potential buyer to line up a shop to do an inspection at buyer cost. You bring the car to the shop. You should have some idea of who the buyer is legit/serious based on some back and forth communication.

Anyone who is adamant about taking your car on test drive but not able or willing to come up with proof they can buy the vehicle, just ignore and move on and save yourself headaches.

TheBingoBalls · 07-12-2021, 12:20 PM

I agree with no test drives just for liability issues but I would follow up with a test drive with you as a the driver in case the prospective buyer wants to see if there are any abnormalities with the car that may be present and may feel as a passenger.

kss · 07-12-2021, 03:46 PM

Thanks for the additional replies! Sounds like the best approach is to offer serious buyers a ride as a passenger.

Taylorsherk · 07-12-2021, 05:04 PM

When I sold my S4, i had a pending sale to a guy in Alberta and car was in Ontario. But before the deal was complete another interest buyer from Toronto wanted to come down to take a look even tho I told him it was pending sale. He insisted he wanted to come and check it out. I said ok no prob but no guarantees. He showed up with his dad and a buddy. He checks out the car and wants to take a test drive to check clutch and suspension, I offered to drive him and his buddy down the road up to 120km/hr and back.
He was ok with this and after getting back to my garage he offers full asking price as is, on the spot.

I told him I had the gentleman’s agreement with the other guy from Alberta, but no deposit. He says payment is available today. So I said give me a minute and let me call the other guy to see if he’s still serious. The Alberta guy answers and I ask if he wants to back out and he said no way and sent me 2k on the side for deposit.

I sent the other guy on his way. And worked with the guy from Alberta to get the car shipped to Alberta and paid 1k over asking price.

He also sent me 200$ in The Keg gift cards once he received the car for being patient throughout the deal.

All said and done no one got in the driver seat without full payment in my hand.
Serious buyers will understand if the car is in impeccable shape and proper service records

I also bought my F80 from a forum member here and bought sight unseen/ no test drive.

07-10-2021, 11:58 AM	#1
kss First Lieutenant 177 Rep 365 Posts Drives: 2017 AY F80 ZCP Join Date: Sep 2018 Location: canada iTrader: (0)	2017 M3 competition selling advice I posted this in the general forum, but thought I’d post it in the Canadian forum as well, in case I need to be aware of any differences with insurance/liability issues in Canada vs other markets. Anyway, given used prices, I finally decided to list my 2017 M3 Comp (still in under warranty), on autotrader last night. I had listed it here as well a few months ago, but didn’t really get any interest. Anyways, after posting on Autotrader last night, I got 3 requests for test drives this morning. What is the good approach to deal with test drives in a private sale? I don’t want someone looking to come in just for a joy ride. Also not sure about the whole safety security concerns. I don’t want someone driving it stupidly, also concerned about liability. I know I’d want to take at drive myself, but I’ve bought new For the past 18 years, and basically traded in my cars so not sure of the do’s and dont’s for a private sale. While I traded in my last 3-4 cars, the one time i did try to sell privately 2008 335xi), a couple of guys drive like idiots - which I do myself a times - but than I own the car and am insured). Anyway, I always ended up trading in it in my car in the past, and wanted to get some advice on what to do, not do and allow to prospective buyers and still protect myself and my car. If I don’t get the price I want, I intend to keep it and extend the warranty, so want to make sure car is in the same great condition that it’s in now. I’d appreciate selling advice on those with more experience selling privately.
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07-10-2021, 02:20 PM	#2
anderson87 Private First Class 16 Rep 121 Posts Drives: 2016 BMW M3 Join Date: Aug 2016 Location: Toronto iTrader: (0)	Cheque/cash in hand. If it's under warranty any suspension issues/noises or other items would get repaired by dealer. Usually I like to test drive to make sure no noises or issues but with warranty that eliminates concerns. If they have never driven an F80 they can go visit a dealer who has one if they are not serious enough to finalize price and other details. I bought mine and had cheque payable to seller prior to even seeing it the car. We discussed thoroughly before seeing it.
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07-11-2021, 08:04 PM	#6
F80dreams New Member 3 Rep 21 Posts Drives: 2015 BMW M3 Join Date: May 2021 Location: Toronto iTrader: (0)	Just like anything its judging a character by your instincts. I wouldn’t go to the extreme of going to the bank to get the draft together but depends how you feel. I accepted cash recently of almost $7k selling my previous car. Was kinda nervous accepting cash but much harder to counterfeit the new bills.
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07-11-2021, 08:37 PM	#7
justm3f80 Enlisted Member 34 Rep 48 Posts Drives: M3, Forester XT, Saab 92x Join Date: Sep 2020 Location: BC Canada iTrader: (0)	like what QuickM2 said. Arrange bank visit with the buyer, they bring a draft for the amount and you as your bank rep calls their branch to confirm the money is available and get it transferred. I would be very careful with test drives with such a car. Request for service history, mod list etc.. would have been a reasonable first ask. Not a test drive.
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07-12-2021, 07:30 AM	#8
ilovemym4 Private First Class 58 Rep 123 Posts Drives: BMW M3 Join Date: Jan 2018 Location: West of Toronto iTrader: (1)	You have a huge advantage of being a seller in this market. And you don't seem desperate to sell at all. Make it clear in your ad, no test drives/pilots. People looking for these cars pretty much know what they're getting, especially if your car is unmodded. If your car is modded, allow for potential buyer to line up a shop to do an inspection at buyer cost. You bring the car to the shop. You should have some idea of who the buyer is legit/serious based on some back and forth communication. Anyone who is adamant about taking your car on test drive but not able or willing to come up with proof they can buy the vehicle, just ignore and move on and save yourself headaches.
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07-12-2021, 12:20 PM	#9
TheBingoBalls Brigadier General 3821 Rep 4,660 Posts Drives: BMW Join Date: Mar 2011 Location: Toronto, Ontario iTrader: (1) Garage List 2018 F36 BMW 440i x ... [0.00]	I agree with no test drives just for liability issues but I would follow up with a test drive with you as a the driver in case the prospective buyer wants to see if there are any abnormalities with the car that may be present and may feel as a passenger.
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07-12-2021, 03:46 PM	#10
kss First Lieutenant 177 Rep 365 Posts Drives: 2017 AY F80 ZCP Join Date: Sep 2018 Location: canada iTrader: (0)	Thanks for the additional replies! Sounds like the best approach is to offer serious buyers a ride as a passenger.
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07-12-2021, 05:04 PM	#11
Taylorsherk Second Lieutenant 183 Rep 203 Posts Drives: 2017 M3 ZCP Join Date: Sep 2020 Location: Ontario iTrader: (0)	When I sold my S4, i had a pending sale to a guy in Alberta and car was in Ontario. But before the deal was complete another interest buyer from Toronto wanted to come down to take a look even tho I told him it was pending sale. He insisted he wanted to come and check it out. I said ok no prob but no guarantees. He showed up with his dad and a buddy. He checks out the car and wants to take a test drive to check clutch and suspension, I offered to drive him and his buddy down the road up to 120km/hr and back. He was ok with this and after getting back to my garage he offers full asking price as is, on the spot. I told him I had the gentleman’s agreement with the other guy from Alberta, but no deposit. He says payment is available today. So I said give me a minute and let me call the other guy to see if he’s still serious. The Alberta guy answers and I ask if he wants to back out and he said no way and sent me 2k on the side for deposit. I sent the other guy on his way. And worked with the guy from Alberta to get the car shipped to Alberta and paid 1k over asking price. He also sent me 200$ in The Keg gift cards once he received the car for being patient throughout the deal. All said and done no one got in the driver seat without full payment in my hand. Serious buyers will understand if the car is in impeccable shape and proper service records I also bought my F80 from a forum member here and bought sight unseen/ no test drive.
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