Selling to Private Parties

[4Rager]

I'm considering selling my 5th gen, but one hesitation I have is my lack of experience with private party sales. For those with experience in this area, I would like some advice. First of all, the reason I'm going the private party route is because I own the vehicle outright and basically want to turn it into liquid cash that I can spend on a cheaper, vehicle among other things.

-KBB states that my vehicle is worth approx $34.5k to a private party in stock form and "good" condition.
Everything else aside, how realistic is this? Is this the price people will expect to start negotiating at or can I actually expect to get that much?

-The truck has some pinstriping but it also has the mods on my sig. I know you can't expect to recover much of that value, but the suspension is clearly superior to stock in terms of both performance and quality and has only been installed for a few thousand miles. Replacement cost would be $2500+ new.(Not to mention the wheels & tires)
Is this something many buyers will appreciate? I know when it comes to a modded sports car, some people may look at that as a liability, but that should not be the case here. (Other than the fact that it might lead some people to believe the truck has been abused, vs a pavement princess mom-mobile, which is technically the same argument as driving a modded sports car hard)

If I could get $35-36k I would be very happy, but it just seems weird since that's not much less than a brand new one. But for a few grand less than new you would still be getting a 2014 Trail Premium w/KDSS, almost $5k in top of the line suspension/wheels/tires, tinted windows, an upgraded sound system (new speakers + sub powered by a 5 channel amp) and you would get the remainder of my extended warranty, which is good for another 2.5 years. Mileage is just over 30k.

The only downsides would be the front skid plate is pretty dented, the aforementioned pinstriping, and wear and tear on the interior. The wheels also have some minor scratches from wheeling.

Those of you with experience selling vehicles to private parties, are these assumptions in the realm of reality? What am I missing or what do I need to watch out for? Have you sold to people who got a loan, or am I limited to cash buyers?

Those of you who have looked at or purchased used 5th gens in particular, would you have considered a vehicle like mine at that price? Why or why not?

 

[flyinhawaiian01]

Sold my '05 taco to private party years ago, they had a check from their bank for the amount we agreed on. Its on them if they want to finance the vehicle, and they should be able to get you a check for the vehicle from their bank within a day, maybe two days. If they are serious about it, have them do a couple grand down while they get their finances in order. That will tell you they're serious, and it will obligate you to not sell it to someone else while they get their money together. Make sure you both agree on a timeframe to finish the finances!

As for value, that all depends on where you're at in the country and just how well it shows. Mileage, transferrable warranties, oem upgrades, etc. will bring the price up, but don't expect to recoup any add-on parts. I have seen a LOT of people trying to get way more than what their vehicle is worth, even though the car might have 20 grand extra in parts!

The only thing I can say is to try it at a price you want, see if there's any interest. If not, drop the price and try it again. I've also seen stupid money going for cars that aren't worth a shit!

My only other suggestion is to spend a few hundred bucks and get the car professionally detailed inside and out. 6 or 7 hundred bucks to do a full detail and complete paint correction usually means the difference in getting what you want and taking thousands less!

And that pinstriping from brush/branches? A lot of that can be removed by doing paint correction properly. You could do it yourself if you know what you're doing, but I will tell you first-hand it is quite easy to burn through the paint on 5th gens! Do NOT ask me how I know this!!!:wow:

 

[Yukon4Runner]

I've been on both sides of private sales. As far as KBB private sale value goes, it's possible the first person who contacts you will agree to it as a starting point for negotiations but more likely you will need time and patience to get that value.

Many buyers use kbb trade in value as a starting point for negotiations. They find someone doing a trade in, offer them a bit more than what they'd get from the dealer so it's win-win for the seller and buyer.

There are many sellers who get offended when they put out a for sale sign at kbb retail value and all the offers they get are much lower.

In general, the more you want for it, the more time it will take.

 

[jbjones85]

in my experience a modded vehicle has more value to some buyers and less to others, it really depends on the area, ext. As mentioned above get it detailed up good, unless the pin striping is to the metal a GOOD detailer should be able to help out a lot and then list it at your ideal price point. If there is a lot of interest then it is not overpriced for the market, if no interest drop it a grand and try again. you will find the sweet spot although it may take a few attempts. The key is like when selling a house, it needs to show well. IE Clean, ext.

 

[Engineer]

Never sold a car private party worth more then 8k, so your mileage may vary.

All in all it has always been a painless process if you have all your ducks in a row and feel out the buyers. Its fairly easy to determine who is a reasonable person to deal with and who is not. On that note, for you to get any money out of the mods I would image it has to be private party not a dealer and you are likely going to need to sell to an enthusiast. You seem to already know that you will never get full price of the mods you have into it. For one they are used, for another they may not have been exactly what that person wanted. When I sold my moderately modified Miata I got roughly 50% back out plus the KBB value of the car and I was thrilled.


You already touched on the issue I see and that is with the high resale value + some return on your mods you are in brand new territory. Which for most of us is much easier to finance (banks wont loan more on a used car then its worth and they value mods at $0). While I don't think you have abused your 4runner and while I have not abused mine it has been used (dented skids, pinstripes, dented body panel (mine), etc ) and that will normally turn someone off when spending north of 35k for something. That's a long way of saying, if yours was on the market when I was buying new I would have not considered it because the price is so close to what new would costs and mods can always be done over time.

I would suggest putting together a nice add on Autotrader or Cars.com / Craigslist and see how things go. If your in no hurry it never hurts to see what fish are biting. Someone out there will likely appreciate what you have done and be willing to give you something extra for them, how much only time will tell. GLWS

 

[Yukon4Runner]

You can come across undesirables selling your car privately. Here's some tips:

1. Get yourself an email account just for selling your car.
2. Get yourself a Skype or google phone number then have it forwarded to your cell.
3. Don't give out your home address; meet in a public place for a test drive.
4. Bring a friend along for the test drive if you can.
5. Before the test drive, snap a photo of their drivers license and vehicle plate and forward it to someone who knows your out for a test drive.
6. LoJack your 4Runner.

 

[1engineer]

I'm considering selling my 5th gen, but one hesitation I have is my lack of experience with private party sales. For those with experience in this area, I would like some advice. First of all, the reason I'm going the private party route is because I own the vehicle outright and basically want to turn it into liquid cash that I can spend on a cheaper, vehicle among other things.

-KBB states that my vehicle is worth approx $34.5k to a private party in stock form and "good" condition.
Everything else aside, how realistic is this? Is this the price people will expect to start negotiating at or can I actually expect to get that much?

-The truck has some pinstriping but it also has the mods on my sig. I know you can't expect to recover much of that value, but the suspension is clearly superior to stock in terms of both performance and quality and has only been installed for a few thousand miles. Replacement cost would be $2500+ new.(Not to mention the wheels & tires)
Is this something many buyers will appreciate? I know when it comes to a modded sports car, some people may look at that as a liability, but that should not be the case here. (Other than the fact that it might lead some people to believe the truck has been abused, vs a pavement princess mom-mobile, which is technically the same argument as driving a modded sports car hard)

If I could get $35-36k I would be very happy, but it just seems weird since that's not much less than a brand new one. But for a few grand less than new you would still be getting a 2014 Trail Premium w/KDSS, almost $5k in top of the line suspension/wheels/tires, tinted windows, an upgraded sound system (new speakers + sub powered by a 5 channel amp) and you would get the remainder of my extended warranty, which is good for another 2.5 years. Mileage is just over 30k.

The only downsides would be the front skid plate is pretty dented, the aforementioned pinstriping, and wear and tear on the interior. The wheels also have some minor scratches from wheeling.

Those of you with experience selling vehicles to private parties, are these assumptions in the realm of reality? What am I missing or what do I need to watch out for? Have you sold to people who got a loan, or am I limited to cash buyers?

Those of you who have looked at or purchased used 5th gens in particular, would you have considered a vehicle like mine at that price? Why or why not?

I have sold several privately.

Unless you find "that" guy who has the exact same taste and vision as you, mods are worthless. Take them off and sell them for pennies on the dollar.

Personally, If I walked up to a 4Runner with pinstriping and dented skids the value goes down as fast as the wheels on a slot machine. Sorry man but that's the truth.

What YOU think it's worth and what the buyer will pay is two different things usually. Start wherever you want and tinder offers. See what they want to give you. Don't be insulted if they offer you $25K.

Just make sure you get a cashier's check from them and have all documentation and title ready for the buyer. No big deal really. You do not want to be his bank so you don't care how he gets the money. You want it in a cashier's check or cash. Nothing else. Seriously. No payments, no sob stories, no personal check, nothing.

If you have any warranty left (5/50 or 3/36) that's a selling feature. Good tires are a selling feature. Clean, unworn interior is a selling feature. Shiny original paint is a selling feature. Suspension, engine or cosmetic mods are not, unless you find that one elusive guy. Good luck.

 

[Yukon4Runner]

You want it in a cashier's check or cash. Nothing else. Seriously. No payments, no sob stories, no personal check, nothing.

100% agree...you are going to hear all kinds of stories. Ignore them all.

I've heard about counterfeit cashiers checks and if someone had really good counterfeit money, I wouldn't be able tell the difference...at least until I deposit it and get a visit from the secret service.

One way to CYA, is to do the final deal at their bank where you can watch the cashiers check being generated then exchange the title.

It can all be a pain in the rear...this is why dealers offer so little for trade ins...they know the alternative has risks and takes time.

 

[1engineer]

100% agree...you are going to hear all kinds of stories. Ignore them all.

I've heard about counterfeit cashiers checks and if someone had really good counterfeit money, I wouldn't be able tell the difference...at least until I deposit it and get a visit from the secret service.

One way to CYA, is to do the final deal at their bank where you can watch the cashiers check being generated then exchange the title.

It can all be a pain in the rear...this is why dealers offer so little for trade ins...they know the alternative has risks and takes time.

Most of my deals have been at my bank. I sold a truck for $30K one time and the guy paid cash. I didn't want to take any chances on it being A) Counterfeit and B) getting knocked over the head and having my truck and the cash gone.

OP go to your bank, tell them what you are doing and they will help you out.

 

[4Rager]

Thanks for all the responses. A lot of what I expected to hear but helpful none the less. I thought about selling the mods independently, but the problem is the sliders are the only thing easy to take off. If I reinstalled the stock suspension the 285's wont fit, so I'll have to put the stock TE wheels back on (which is fine from a desirability standpoint) but the tires are down to 3/32's and would need to be replaced immediately. Kinda a bummer because I could probably make more money back selling just the Fox CO's that I would for all the mods combined when installed.

If I do go this route I will definitely be taking the advice of the full detail and paint correction. If someone is waffling between this and a brand new one the paint needs to be as good as it can be. As far as the skid plate goes, I wonder how hard it would be to find a stock TE one in good shape? I also know a fabricator in town who can make am aluminum one and I think it's a pretty good price. He was telling me one of the dealers came to him to make one after they promised a guy a TRPD skid for his TE (they don't fit because of KDSS if you didn't know).

Thanks for the help in this informational endeavor. I'm going to Death Valley in two weeks so nothing will happen until after that anyway, but it might be worth throwing an ad together just to test the waters. In the back of my mind the ideal buyer is one I'd love to hate; some rich dad who buys it for their spoiled teen cuz it looks cool and has a good sound system. But hey, if that gets me the $$ I'm hoping for so be it...

 

[Yukon4Runner]

Those of you who have looked at or purchased used 5th gens in particular, would you have considered a vehicle like mine at that price? Why or why not?

I'm actually in the market to buy a new or used 5th gen to replace my 3rd gen. I'd be the tough buyer because I have time to find the right 4Runner at the right price...I'm in no rush.

While your ride looks great and I'm sure there's a buyer out there for it, I'm an example of a buyer where the mods aren't "value added". I still use the factory stereo on my '01. I use my 4Runner for vacation days at those hard to get to spots; camp, fishing holes, hunting trips, hiking trails, etc. Ocassionally hauling a boat or trailer. I'm not an avid off-roader. It's used mostly for day to day getting around...it's also great for my three dogs.

Every vehicle choice is a compromise between needs and resources and the 4Runner is the best fit for me.

But mmmmmmmhhhh *wipes drool*....Land Cruiser

 

[radicalwillie]

I have sold 6 vehicles, 2 campers, a jet ski, several motorcycles and countless other goodies on craigslist and there is one thing I've learned, there is a buyer for everything. I would try to sell it as it sits. While the points made by others are valid, there are plenty of people out there who want a lifted truck but are intimidated to do it themselves, or will not be able to afford to mod it and want it all rolled into the purchase price. If you are not in a hurry to sell it, throw it on Craigslist for a while and see what happens. If you want $35K out of it, advertise at $37K and you'll have some wiggle room. If it doesn't sell within a month, you probably have it priced too high and can adjust it down from there. The key to selling things is pictures. Wash/wax/polish it up, and take tons of high resolution photos from every angle showing the good, the bad, and the ugly. Then upload shots to a free site like flikr or imageshack and link to that from your craigslist ad. As for accepting any payment other than cash, tell the buyer you would like to conclude the sale at their bank. Then you can verify available funds right then and there. Good luck with it!

 

[1traildriver]

Anyone have experience with long-distance sales? My truck is in the classifieds and I am nearing a deal with a serious inquiry. Since any private sales I have done were local, I have no idea how to make this a smooth transaction for both sides if we agree on a price. If the deal is negotiated he is going to have the vehicle shipped but I am more concerned about money transfer, title transfer without issues.

 

[Mistaken]

I have modified almost every single car I have ever owned and didn't matter if I was selling to a private party or trading it in, I always part it out back to stock and end up getting the most money back. You typically wont get the value of your mods on top of the value of the vehicle. This route takes more time and effort but will give you the most cash in the long run. If I were you, I would do that and then get a good quality detail with some of the cash from the mods to help clean up those pinstripes a little.

 

[Yukon4Runner]

Anyone have experience with long-distance sales? My truck is in the classifieds and I am nearing a deal with a serious inquiry. Since any private sales I have done were local, I have no idea how to make this a smooth transaction for both sides if we agree on a price. If the deal is negotiated he is going to have the vehicle shipped but I am more concerned about money transfer, title transfer without issues.

If he's willing to pay up front and arrange for shipping then all you have to do is make sure the check clears, sign and put the title in the glove box and then hand the keys over when the truck driver with the trailer shows up.

Most buyers don't like this route though so it gets complicated.

 

[wild_turkey]

Front Skid and Beepi

OP,

As you probably know, the resale market for 4Runners is pretty good. If you don't want to deal with the hassle but don't want to get screwed by a trade-in, check out a service called Beepi (Beepi.com). I do not have any affiliation with them, but I explored using their service to sell our last car. The only reason I didn't is that a Private Party came through at the last minute through CL and paid a premium to get the vehicle.

Beepi will give you an estimate online of what your vehicle is worth. If it's in the ballpark, you can take the next step and they will send one of their mechanics to inspect. If he says it's good to go, they will make you an offer for your vehicle. If you agree to that price, they will list it for sale on their site for 30 days. You can still drive it until it sells.

If it sells in 30 days, they handle all the paperwork and pick the vehicle up from you, give you a check, and you are on your way.

If it does not sell in 30 days, they will buy the vehicle from you at the agreed upon price, give you a check, and you are on your way.

The buyer gets peace of mind that the car was inspected and "Beepi certified." You get the benefit of not having to mess with a bunch of non-serious buyers.

Regarding your dented skid, is it just the front skid that's dented, or more? If it's just the front skid and you are in the LA area sometime, you can have my OEM takeoff. I threw away the plastic trim, but I still have the front skid. Also have the gas tank skid that I was trying to get a few bucks for.

Good luck with the sale. Should be pretty easy. Just insist on a cashier's check and go to the issuing bank with them to verify authenticity before signing over the title. There are such things as counterfeit cashier's checks out there.

Thanks for all the responses. A lot of what I expected to hear but helpful none the less. I thought about selling the mods independently, but the problem is the sliders are the only thing easy to take off. If I reinstalled the stock suspension the 285's wont fit, so I'll have to put the stock TE wheels back on (which is fine from a desirability standpoint) but the tires are down to 3/32's and would need to be replaced immediately. Kinda a bummer because I could probably make more money back selling just the Fox CO's that I would for all the mods combined when installed.

If I do go this route I will definitely be taking the advice of the full detail and paint correction. If someone is waffling between this and a brand new one the paint needs to be as good as it can be. As far as the skid plate goes, I wonder how hard it would be to find a stock TE one in good shape? I also know a fabricator in town who can make am aluminum one and I think it's a pretty good price. He was telling me one of the dealers came to him to make one after they promised a guy a TRPD skid for his TE (they don't fit because of KDSS if you didn't know).

Thanks for the help in this informational endeavor. I'm going to Death Valley in two weeks so nothing will happen until after that anyway, but it might be worth throwing an ad together just to test the waters. In the back of my mind the ideal buyer is one I'd love to hate; some rich dad who buys it for their spoiled teen cuz it looks cool and has a good sound system. But hey, if that gets me the $$ I'm hoping for so be it...

 

[Blitzkrieg]

I agree with the public place meeting thing. Two best places are a police station or bank parking lot. Surveillance cameras out the ying-yang. Too much stuff goes down anymore via Craigslist set ups.

99.5% of the people out there are good people, it's that meth head .5% ya gotta look out for.

Mods? Little to no value and with people like me they actually lower the value of the vehicle in my eye.

Price? You really want to sell it, make it a better deal than whats being offered. Sometimes $500 can make a huge difference in moving a vehicle quickly and limit how many people you have to deal with. Start with what is fair, being willing to come down by $xxx and then hold firm.

Or, start by saying price is firm and no haggling. You will rule out a lot of riff-raff but may also lose that one buyer who thinks you are high on price and unwilling to negotiate.

Be honest on your KBB evaluation/condition. If you rate it "Excellent", it better be excellent. Most are not. For instance my 2015 TE with 5k miles, zero door dings, garage kept and perfect paint/interior easily qualifies as "Excellent". A vehicle that actually gets used daily, has a few door dings, some swirl in the paint - rapidly becomes a "Very Good" or lower and the value goes down about $400 on KBB.

In my area (I just ran it on KBB.com) my 2015 TE/KDSS has a private buyer value of $37.3K. If I really
wanted to sell it, I'd post it at $36.7K and probably move it in a day. No haggle, no b.s., just done.

My .02

 

[1000MPH]

The days of buying or selling a car curbside are over for me. The money is too high to risk a rip-off or worse.
There's a Carmax in South Reno, I've heard their offers are decent.

On that note, I have friends that are looking to upgrade from a built FJ.
I'm going to pass on your username.

 

[radicalwillie]

Anyone have experience with long-distance sales? My truck is in the classifieds and I am nearing a deal with a serious inquiry. Since any private sales I have done were local, I have no idea how to make this a smooth transaction for both sides if we agree on a price. If the deal is negotiated he is going to have the vehicle shipped but I am more concerned about money transfer, title transfer without issues.

You are right to be concerned, a lot of fraud done this way. I personally would not mess with it, sell it locally unless he's bringing a suitcase full of cash and then you better be able to tell if their counterfeit. Google "out of state car buying scams". Wire transfers, certified checks, there are scams that deal with all of these, just a fact.

 

[Blitzkrieg]

The days of buying or selling a car curbside are over for me. The money is too high to risk a rip-off or worse.
There's a Carmax in South Reno, I've heard their offers are decent.

On that note, I have friends that are looking to upgrade from a built FJ.
I'm going to pass on your username.

Yeah. Its sad but it's reality. I just got a call from one of my credit cards fraud divisions last week. "Are you trying to fly to Kenya?".

"Ummmmm no."

Somehow managed to get my info and even called the credit card company the night before to say "Hey, I am flying to Kenya for a week".

Second time it's happened to me in 10 years and I am a super careful person when it comes to protecting my info (though I was an unfortunate victim of the Target breach).

Just can't be too careful anymore... :-(