[dicor]

It's a mixed bag for me. Some cars were exchanged with the dealer and some were sold to the individual via an online portal like carwale, cardekho and Olx.

Now if you ask me would you do it again. My answer is I will either exchange it or will sell to a dealer. I will sell it to an individual only if the individual is showing genuine interest.

It requires a lot of patience, courage and risk to sell a car via an online portal. Low ballers will try to break your morale. A lot of people come and take the test drive. So far I am lucky that no one dashed any of my cars.
The girl will come along with her BF. The boys will come with that one genius friend who is an automobile freak. Trying to pretend he knows everything about cars. Will ask questions like why does your steering shakes when we go over white strips? Why indicator turn lever is on the left side?

Jesus!!! I don't have any more bandwidth available to deal with the potential buyers. Happy to get few lacs less but I would like to close the deal ASAP when I make up my mind to sell my car.

P.S. --> One of my cars was bought by a person who arrived early in the morning and he saw "Live to Drive" sticker and then he did not bother to ask me a single question and signed the token amount. He just told me a TBHPIAN will always keep his car like a baby. Deal Closed.

[MOUNTAINMAN]

Voted for Individual
Santro (Sold online in 2011)
Collected ID proofs & documents copy from the buyer required for RC transfer and made a stamp paper (sale-deed).
RC transfer to be done by Buyer.
Visited his home to verify the address proof.
Handed over the car against full payment.
It took around 2 months to get the RC transfer completed by the buyer with frequent follow ups (phew).

Figo (Sold online in 2018)
Collected ID proofs & documents copy from the buyer required for RC transfer and made a stamp paper (sale-deed) through a familiar guy at district court and handed him all completed documents and transfer fees (buyer paid) and a small fee (seller paid) for the agent.
Handed over the car against full payment.
It took around 10 days to get the RC transfer completed and reflect new owner details online.

Under both sale I still hold a copy of all the documents.

[Pkumarblore]

Voted for exchange because it saves you enormous time and it is hassle free, but you may end up getting slightly lesser than its actual market value if sold directly to the buyer. However the exchange bonus can make up for some of the loss. But yes, if you dont intend to buy another one immediately, then I would prefer individual/online platform.

[Sebring]

Voted for trade in! I always negotiate a good deal and go for exchange as this puts all headaches on the dealership, (be it paperwork or any unlikely events later on). It might not always be the best quote, but you do haggle a bit since they have a car to sell and will move mountains.

[TokyoDrifter]

Voted for - Individual.

It’s always easier and lends peace of mind, if a transaction is carried out between two known parties. Everything else, is bound to involve time and energy, and hence the extra money made (if any) is compensated for.

[asethi]

Swift - sold it to Truevalue, the OLX/individual buyers weren't worth the effort. Plus Truevalue offered a decent amount and they sold the car before even I received my payment
It also ensured ownership transfer while I wasn't available in the city after sale.

[daredevil]

In last 13 years, I have sold 5 cars. All to individuals for piece of mind. All cars were Japanese.

Sold 2 cars abroad and 3 in India.

All India cars were sold to individuals in my organisation. That's just pure luck, I guess. All these cars were put on sale online as well.

[Rahul Bhalgat]

I sold my M800 in exchange for new SX4 Zxi to MSIL dealership in 2011.

It was a 15 year old car, maintained in in acceptable (but not prestine) condition. The dealer had offered the price what was offered in the market and additionally, an exchange bonus.

[rmz1088]

My Swift VDI 2008 was sold at CARS24 in May 2018.

The price offered by CARS24 was marginally higher than what I expected and considerably higher that what True Value and other dealers quoted. Along with handling all documentation, they offered 10k extra as part of some promotion that they were running that month. I initially did not believe it be true, but was pleasantly surprised a month later when the amount was credited to me.

[Rajeev1]

Skoda Fabia TDI - Advertised on TBhp classifieds and found a buyer. Ensured that the papers got transferred. I didnt try any other mode of advertising or selling as TBhp classifieds was the first preference and it worked like a charm.

[airbus]

I had exchanged my previous car Maruti Zen Estilo while buying my present car Mahindra TUV3OO. Fortunately, the deal given by Sireesh Auto/Mahindra along with the exchange bonus was much better than the other options I had evaluated.

[BoneCollector]

I've voted for Exchange with a new car.

Our last few cars,

1987 model Maruti 800 - Sold to my maternal uncle.
2005 model Santro - Exchanged for another Santro in 2012
2010 Ritz - Exchanged for S-Cross

Our current Wagon R (2012) will also go for an exchange in all possibility. The car and papers once handed over to the dealership let's you have peace of mind. They give you a written contract stating that the car has been taken by them along with papers and both keys in exchange for another car. Open market price may be more but then in my place, there have been instances when known people have not got the name transfer done on their name. There was an incidence where a non bailable warrant was issued against a doctor for an accident that had happened in another district. This was after he had sold off his car about 5 years back and the car had been further sold off to 2 more people. Since it was on his name, he was summoned but he never turned up for hearing as he wasn't aware. So an arrest warrant was issued. He had to prove his innocence to get warrant cancelled.

[skanchan95]

Sold my 2016 Figo 1.2 Titanium+ a direct buyer on OLX. First thing about selling cars on OLX or any other online platform is to quote a realistic price which would attract buyers and if possible, use a digital camera for taking photos which can stamp date & time on the photos. I saw many ads on OLX fro Figos which quoted very high & unrealistic prices.

I didn't want to go to Cars24 or to True Value dealership as I knew they were all hand in glove in undervaluing your car .I was prepared to wait. As usual,there were many lowballers. An interesting lowballer even came up with a "quote" as if he was doing me a favour and I will never forget what he wrote - "Rs X.XX lakhs is my price, ok? Full cash. Take it or leave it, OK". Needless to say, I didn't respond to him or to other lowballers as I believe many of them are usually dealers or timepass fellows. I did not want to get into any argument or negotiations with them.

Two of them were genuine when they confirmed they were buyers and no agents. The first guy said he was ok with my asking price but wanted to negotiate. He said he wished to arrange for a loan and wanted a week's time as he was moving in the process of moving in to Mangalore and was busy in the shifting process. He said he will get back to me in a day or two. The second guy was actually looking for a Petrol Figo Titanium+ and he asked all details about the car. I even directed him to my ownership thread on team-bhp and told him him as the car was on loan, he needs to transfer the loan amount first to me and the balance just before handing him over the NOC & RC. He said he was genuinely interested and wanted have a look at the car, which I agreed. We met the next day, he took an TD and on the spot agreed to buy the car at Rs 10000 less than my asking price.

He arranged for a token advance to my bank account. He said as he too wanted to arrange for a loan and asked if would it be ok if his bank directly forecloses my loan on his behalf by transferring the amount to my loan amount. Spoke to my CA and bank and they were ok with it. However, as the car was being financed(again) by his bank, it needed to be valuated, which was done by a valuator. Luckily his bank and my bank were the same which made the process even smoother and quicker. He arranged to transfer the balance amount after I had the bank NoC. I signed all the ownership transfer forms he bought and iahd arranged for a car sale deed, which we signed together.

[ZedMae]

Guys need some advice.
While going for exchange, what is the general practice?
- Does the dealer take the old car which is being traded in before the delivery of the new car? If so, do they adjust the exchange value against the price of the new car?
- If the dealer takes the old vehicle, before the delivery of the new car, do we lose leverage in not being able to cancel the booking (if the need arises)?

Asking because, I'm looking to exchange my Getz for the purchase of a Tata Nexon and the dealer has mentioned that they will be taking my vehicle on a said date which is around 10 days prior to the promised delivery date of a new car? Is this fine - or do I need to watch out for anything specific?

Thanks

[Lambydude]

Originally Posted by ZedMae

Guys need some advice.
While going for exchange, what is the general practice?
- Does the dealer take the old car which is being traded in before the delivery of the new car? If so, do they adjust the exchange value against the price of the new car?
- If the dealer takes the old vehicle, before the delivery of the new car, do we lose leverage in not being able to cancel the booking (if the need arises)?

Asking because, I'm looking to exchange my Getz for the purchase of a Tata Nexon and the dealer has mentioned that they will be taking my vehicle on a said date which is around 10 days prior to the promised delivery date of a new car? Is this fine - or do I need to watch out for anything specific?

Thanks

In most cases dealer already sets up a deal with a reseller to whom the dealer sells the car. So when you handover the car to the dealer, he would hand it over to another used car dealer and would get the money for it.

In that case, even if you cancel the booking, you may not get your car back because it may have been sold to another end user. All you can negotiate is about getting the money for your existing car.

When I handed over my car to the dealer few years back, they immediately had a customer interested in my car within few hours. So my car was sold to that customer much before my new car was delivered. Of course they asked for my permission to do so.