Advice on selling my Cali?

I sold privately a few times. (1 truck, 2 porsches & my cali)
Regarding test drives, I did not get a lot of tire kickers, but I was worried about who was going to want to just go for a joy ride. Luckily only a couple drives ergo the last person was the buyer each time. I went on each ride, asked to see their license, and the one guy who got on the car a little I chided to chill out. (He ended up buying the car)

On the sale: each time I required that buyer bring certified bank check from a recognized bank (on one occasion I called the out of state bank to verify the person). I refused to accept any cash over $10,000 (1 guy wanted to give me a substantial amount in cash & I did not want to worry about me making a large cash deposit; I did not want to worry about dirty money or the IRS). Each time I did transaction inside bank, either at teller window or customer service rep. I had with me the title, key & everything the new owner needed. They paid me first (1 transaction the buyer just transferred the money from his account into mine; another transaction we used a bank associate to do a withdrawal and deposit slip(s); the other 2 transactions I deposited their bank check into my account (least safest way) Upon the money deposited into my account I signed over title and handed over keys and everything else.
Hope that helps

 

if you bank at the same institution, it is easy to do a simple funds transfer (instant).
if your banks differ, have the buyer issue you a "bank check".
hand over the car when you get check, but keep the title of the car until your bank tells you the check has cleared.

 

When we were selling cattle, we would load them on the trucks and wait until the wire transfer had hit the account -- then they could drive off.

I think with these amounts, I would prefer a wire.

John

 

Interesting. I've privately sold several prior cars, but for my California, I decided to consign with my dealer not only to help me move up the 458 list, but also because I didn't want to deal with qualifying buyers and dealing with test drives, and I also wanted to maintain privacy of my identity. Seems like you did a good job avoiding tire kickers and maybe its not much of a difference in hassle notwithstanding the larger purchase price. Perhaps the California also appeals less to joyriders.

 

I had the dealer sell my Cali for me when I ordered my Cali T. It was actually a painless experience and just got a call one day that it sold. They take a commission obviously, but in the end, I came out pretty well. And the good thing is that they strive to keep the prices up so that the market stays strong for pre owned cars. They basically got what I was asking.

 

I did the same thing too Doug... I probably left about 5k or so on the table but it was worth the hassle. I look at the 5k in Ferrari dollars as the cost of stereo upgrade. My sales rep was also motivated to move some metal at the end of the month.

 

I have sold 3 Ferraris privately no issues and only one joy rider who I knew was not a buyer but gave him a ride he would not forget. One sold on fleabay the other two through f chat. All transactions were wire transfers or certified checks and were cleared prior to releasing the car. I also did some background on the people coming to look at the cars prior so I had an idea of what to expect. Now that I think of it two of the transactions I never saw the buyer bought after Independent PPIs.

 

im in the market, pm me with what you are selling, thanks.

 

Prepare yourself for some pretty low bids.

Idk what is the best advice. There is a small chance that the value will appreciate. But when? Twenty years from now.

I think that selling the car and moving forward is probably the most sound advice.

When I think about how I got out of my
Cali --I don't have any regrets.