so i will be selling the LC soon, and i was wondering if anyone has advice on how to sell (private, dealer, carmax, carvana, etc). i've done private sell a couple of times in the past and always found it a bit nerve-wracking with meeting people, handling the money, but maybe that's not that big a deal. with so many scams i'd be concerned about being ripped off.

thanks for any insights.

(fyi, it's '21 caviar coupe, black interior, loaded including dynamic pkg, ppf on who front to part of the cf roof and the side sills, apple carplay and android adapter wireless adapters if needed, just under 10k miles. right now)

 

I've had the best luck with Driveway.com lately. Get a quote from Carmax and Carvana too and then just walk into your local Lexus dealer with the same quote and ask them to beat it. Even better if you can trade it and benefit on sales tax if replacing it with another vehicle, although tax laws vary by state. Private sale will always yield a higher price, if not trading in, but does require work/risk.

 

I have sold every car I have ever owned private party and have never had any issues. Everything from a Honda Civic to a Ferrari F355.

I'm willing to put the time in to make more money on the sale.

 

how does the money transfer work? do you have to have deposited the buyer's money before handing over car and title? do you create an agreement of sale? any other tips? thanks!

 

thank you!

 

I used keysavvy for my last private sale (which indeed is always a better deal for you the seller), highly recommend them to take the risk/stress out of it. Costs $200 and makes the whole process very easy, they're basically an escrow service that also issues temp tags to the buyer. Buyer pays them, you mail them the title, they verify both, then the $$ is released when either the buyer or the shipper pick it up. I wouldn't bother if I was selling/buying in-person but for an out of state transaction it was great

 

+1 for keysavvy if selling out of state. This would also work for a local buyer if they were concerned although I( would make them pay the fee. If the buyer is local, there are ways to ensure both parties are protected.

My last sale was to a buyer in California. He was hesitant to just wire funds as it was $120k purchase. I had my local bank hold the title and they had no issue with buyer calling the bank to verify before sending funds. All worked out for both and the same could be done with a local buyer. The key is making sure funds are wired and confirmed in your account. Some scammers will try and do ACH and immediately want to pick up the car and this is a red flag as they can rescind the payment before it actually gets to your account so be weary.

Bottom line - just have to do all possible to ensure both parties are protected

 

I always create a Bill of Sale (just a simple typed up 1-2 paragraph document with dates/ VIN//Price/etc.).

Money is always a bank check--or they meet me at the bank and we handle the transaction there if they are local--and the DMV to transfer the title.

Will always send title after check clears if they live in a different state (This is written in my Bill of Sale contract we both sign).

 

I've sold two cars by private party. The last one was my ISF. Since the transaction needed a Notary and banks usually have a Notary, I conducted the cash transaction in the bank. I instructed the buyer to bring cash. When completed, I deposited the cash into my account. Pretty Easy

Lou

 

CA$H as in green cash? Being a buyer Im not gonna carry that amount around.

 

Craigslist is probably where I would list my LC for sale. If you're willing to take professional photos and do a good job with the listing and are ok with the uncertainty of an auction, cars & bids might be a good option and they will handle the transaction.

 

so many ways to get scammed these days.

 

Sorry to hear you'll be selling it, Bit.

Have you looked into Autotrader Private Seller Exchange? I bought a SC430 from a seller in Alabama back in December. They hold the money until the transaction is completed, etc.

 

I have no experience selling privately, always thru the Dealership. But I’m usually using any equity for another purchase anyway (so it’s easier with tags, taxes etc.). Yea, probably lose some on the sale, but I just don’t want/need any issues (besides the fact I don’t like dealing with People). We’ve also benefited on the purchase side which can make up for the difference vs a private sale. Although this is dealing with a Lexus vehicle with a Lexus Dealership.

 

just a short note to thank everyone here for suggestions.

briefly, i used autotrader private seller and immediately was contacted by scammers (ugh) then 2 dealers (one local, one out of state), who both really wanted it but i sold it to the out of state one at a higher offered price (more than i was asking). it was on autotrader for less than 4 hours. and they sent money, paperwork, got all that done/cleared, and then transport to pick it up. be careful out there folks… way too many crooks.

the LC is a beautifully designed and made ‘unicorn’ but i just wasn’t driving it much, and hopefully someone else can show it more love now.