Buying or Selling: Private Party vs Dealer - NCRS Discussion Boards

Buying or Selling: Private Party vs Dealer

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  • Edmund C.
    Very Frequent User
    • April 14, 2015
    • 232

    #16
    Re: Buying or Selling: Private Party vs Dealer

    Gents: I kind of have a "car buying issue" according to my wife Julie. One of her friends tells her frequently "hey,it's better than a red head..." I buy on average 1-3 vehicles a year (most of them real bombers (e.g., ratted out El Camino or Camaros) for the kids or decent ones that I get tired of and sell onward). For what it's worth, I almost always buy from Private Sellers if at all possible. Unless it's something new that you've just got to have, you can get it used from the private sector at a far better deal; especially in a great used car market like Houston, Texas. Sure you have to do your due diligence; get them all carefully inspected; and there's little recourse if you're aggrieved (short of litigation), but in the long run, it's most often a far better outcome. Dealers (particularly Corvette Dealers - most of whom I greatly respect) need to pay for expensive overhead and employees, etc. If you are looking for a vintage vehicle of any kind, I recommend joining a local Car Club that specializes in the model and get involved with the membership. They have great information; it's fun; the fellowship is a real bonus; and you often get leads on vehicles that decent folks are looking to sell. The Vette that I recently bought I heard about while sitting around with some Texas pals talking Corvettes. A very wealthy lady owned the '66. Her husband Jack had been a life long Corvette man and had unfortunately passed last November. This was Jack's last Stingray of many. She turned down a lot of offers from folks that were looking to "flip" the vehicle. When we showed up with kids in tow and she learned we were a Corvette family, she sold to us simply because she wanted to find the Vette a good home. In fact, part of the deal was that if I sold her, I'd ensure it went to another real Corvette fan. The deal she gave us was, by any measure, amazing. I plan to honor the deal. I plan to keep this one and perhaps later give it to one of my boys. One thing you can count on though, is that when I do sell it, it'll be to the right kind of buyer (an NCRS man or woman for sure). Best, EWC

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    • Mark E.
      Extremely Frequent Poster
      • April 1, 1993
      • 4542

      #17
      Re: Buying or Selling: Private Party vs Dealer

      EWC,

      Good point about the merits of finding a Corvette amongst your network. And I always enjoy a Corvette buying story with a happy ending. Enjoy your 66.
      Mark Edmondson
      Dallas, Texas
      Texas Chapter

      1970 Coupe, Donnybrooke Green, Light Saddle LS5 M20 A31 C60 G81 N37 N40 UA6 U79
      1993 Coupe, 40th Anniversary, 6-speed, PEG 1, FX3, CD, Bronze Top

      Comment

      • Michael J.
        Extremely Frequent Poster
        • January 27, 2009
        • 7122

        #18
        Re: Buying or Selling: Private Party vs Dealer

        Originally posted by Mark Edmondson (22468)
        EWC,

        Good point about the merits of finding a Corvette amongst your network.
        Big Tanks In the High Mountains of New Mexico

        Comment

        • Frank D.
          Expired
          • December 27, 2007
          • 2703

          #19
          Re: Buying or Selling: Private Party vs Dealer

          Ya never know - I bought my '61 in 2007 from a complete stranger off a cattle ranch in South Carolina after it didn't sell on eBay.
          After two years of searching for one, I bought my split window off an acquaintance who had two up in Ohio. I think he was
          feeling sorry for me and graciously sold me one of his cars in 2013.

          Comment

          • Mark E.
            Extremely Frequent Poster
            • April 1, 1993
            • 4542

            #20
            Re: Buying or Selling: Private Party vs Dealer

            It may take a little more effort to find that perfect Corvette offered by the doting long-term owner, but those cars are out there.

            Clubs are a great place to shop. I received "The Driveline" the other day which has pages of cars for sale. Some ads are dealers or amateur car flippers, but some cars are offered by the long term owner. And there's usually several member cars for sale in my local club's newsletter, The Lone Star Corvette Club. Has anyone searched the classifieds from club newsletters across the country while shopping their next car? Or even run "wanted" ads in their newsletters?
            Mark Edmondson
            Dallas, Texas
            Texas Chapter

            1970 Coupe, Donnybrooke Green, Light Saddle LS5 M20 A31 C60 G81 N37 N40 UA6 U79
            1993 Coupe, 40th Anniversary, 6-speed, PEG 1, FX3, CD, Bronze Top

            Comment

            • Jim D.
              Extremely Frequent Poster
              • June 30, 1985
              • 2884

              #21
              Re: Buying or Selling: Private Party vs Dealer

              Originally posted by Mark Edmondson (22468)
              It may take a little more effort to find that perfect Corvette offered by the doting long-term owner, but those cars are out there.
              Yes they are. I know of two 63 coupes that sold for ridiculously low prices in the last 6 months. Neither one was ever advertised. Simply word of mouth. Having been restoring Corvettes for 40+ years, everyone I know and some I don't, contacts me when they're looking for advice to buy or sell. Sometimes I'll buy it and sometimes I hook them up with someone that's looking for that particular car. Word of mouth is better than any advertising media.

              Comment

              • Dan D.
                Very Frequent User
                • September 5, 2013
                • 181

                #22
                Re: Buying or Selling: Private Party vs Dealer

                The choice of purchasing and/or selling as an individual, orgoing through a dealer...is strictly a matter of personal preference. And, as Ifound out many years ago...you can't dispute taste or preference because thereis no right or wrong...it's just what you prefer. Either choice has obviousadvantages and disadvantages. Either way, if you're making an investment, it'sonly common sense to practice "due diligence." If you don'tknow...purchase the services of someone who does. This applies not only tocars, but anything of value.

                Comment

                • Frank D.
                  Expired
                  • December 27, 2007
                  • 2703

                  #23
                  Re: Buying or Selling: Private Party vs Dealer

                  I'm always amazed that somebody will agonize over the purchase of $10,000 worth of stock or a mutual fund and pour over the Prospectus and consult a broker, but will shell out 5 times that amount on a car sight unseen.

                  I had two cars professionally inspected and passed on both of them (both in Florida) and for good reason. After I thought I knew enough; for the next two cars, which I DID buy, I personally flew to South Carolina and Ohio to inspect myself and then buy on the spot.

                  With rental car, flight, hotel, and, gas/meals I guess the trips were in the $500 range each. The third-party, professional inspections came in a little under that.

                  IN ALL FOUR INSTANCES; it was the best money I could have spent on my car purchases.

                  In one of the third-party inspections I paid for it was at the dealer, and, the car was totally mis-represented; a '69 Z-28 with what turned out to be a non-original motor !!

                  Comment

                  • Dan D.
                    Very Frequent User
                    • September 5, 2013
                    • 181

                    #24
                    Re: Buying or Selling: Private Party vs Dealer

                    You're so right. I was amused when I read your post. To go along with that...It's amazing to see someone fretting and stewing over the breaking-in and maintenance of a thousand dollar outboard motor and not even change oil in a $75,000 car. Go figure...

                    Comment

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