Buying or selling to family or friends

I would say depends who are your friend and what kind of family relationship your are talking about. I would avoid such situation if possible. Exceptions will be if I trade-in lease vehicle then of course any friends or family member will be glad to pick it up for given trade-in price. Other exception is “selling” to kids for nothing. Otherwise you about to make unnecessarily arguments (if not now than later) with good friend of even worse family member. My $0.02

Cheers
Serg

Hi Trev, As it goes, " You can pick your friends but you can't pick your relos" ...lol.


Cheers Axle.

Quote " Naturally when you buy or sell a vehicle to a family member or a friend both parties should be well aware of the history surrounding the vehicle and for this what price do you put on it? "


Naturally ? RULE #1 NEVER EVER SELL A CAR TO A FAMILY MEMBER or friend - give them the car -- ok but if you have to sell it -- sell to a third party . If anything goes wrong with the car YOU WILL BE ACCUSED of ripping them off knowing that was going to happen whether or not you did know or not

It is really not worth it -- if you take a small loss selling to a third party , then cop it on the chin - this is much better than loosing a friend or family member for something as petty as money .....

i really cant stress this enough


Boc

G'day Trevor,

I believe it depends on how much you value that particular
family member.

No short answer I think because some of my family I would let have it as cheap as possible......and I can think of a few that I
would add as many dollars as I thought I could get away with:))

Sell it to a stranger....

cheers
Michael

Trevor
Your finanial situtaion is important too if you CAN'T afford to give huge discounts then Dont that also includes your Kids .
Minium sale price should be the Trade-in amount or what YOU beleive the car is worth both parties must be happy with the price remember they to can walk away from the deal if they beleive your price is unrealistic.
Just had the simarlar situation traded in my Patrol sight unseen (I'm 1000k's from the dealer) and then sold for the same price to work mates daughter I probabley could on the open market got little bit more but There're happy I'm happy and no warranty from me.

Treat it no differently. Caveat Emptor applies equally to family as it does to others.

Present the vehicle as it is and put a price on it that you will be happy to receive. After that it is up to the buyer to determine whether the price matches the offering.

Don't treat it any differently an that way you can't get into trouble....

If you sell your vehicle to a family member for the trade in price, you will get a bigger discount normally for no trade from the dealer, as most of them hate trades anyway.
Cheers Pete

I'll second OzBoc...

NEVER sell to family or friends.

Boc said it all

It has to be an exceptionally good vehicle to sell to a family member.
Price should be half way between wholesale and retail - a bit each way.

Have bought and sold to family. Sold to my sister but would never buy one from her as I know that she doesnt look after them like I do. Have sold three of ours to family members and sold our commodore to my mate at work, his son. I dont sell them any cheaper to them. If they want it they pay the $$$ like anyone else. If not I know that I will have no problems selling them to anyone else as they are well looked after, serviced and half the time in better nick then when I bought them in the first place, (unless new obviously) My sister generally waits till we update and she buys ours off us. I'm hoping my cousin will be updating his rodeo next year as he babys it and never even been off road so like new (top of the range T/D) BUT if between now and then it is in an accident I wont touch it. I also wont buy anything without log/service books or that has been pranged. Even my old lux had full service history every receipt even down to wiper blades. Sold it for 10g's in 06 300k on it 89 model. I think if its the type of vehicle that you would keep yourself then why not ?? You can buy new and have drama's. Price wise is up to you. Alot of people I know if trading will offer it to whoever at trade in price. If your after top dollar over the going price then I wouldnt sell to family (would be hard to sell anyway) but if selling for the average price then why not. Regards Steve M

I have tried to sell three vehicles to my son. Somehow it always turns into more of a 'give' than a sell!

Family can be dangerous but if you do buy it you should maybe add 10% for the hassle it would have saved him in paperwork, phew, i hope that made sense.
Cheers

>>I am of the opinion that sell the vehicle for whatever the yards are going to give you after all, we all know that should be a bargain for the buyer but leave the seller in the same position as they would be if they traded anyway.

You just answered your own question.

Barnesy

How longs a piece of string?
Sometimes friends/family and money are best kept separate if you are worried how much of a bargain they are may or may not get

I sold my Falcon to my daughter and SIL for 2G less than the red book price. Gave them a kick along and gave me most of the money I would have got elsewhere. They are happy - car goes great.