Needs must....

[Sportstest]

Advice required please...

Unfortunately I have found myself in a financial situation where I must sell my lovely T6 Ocean. We need to re-mortgage the house, and consolidate some debt, but the finance against my T6 is conspiring against the loan approval.

The financial terms on the VW loan mean I can't just return the van until 50% of the loan has been paid, so I am guessing I am looking at a private sale. I just don't have a clue how to assess the sale price accurately. Is a standard "book" value a good start (is there even such a thing)? Are there other suggestions? Does anyone know specialists that will buy used vans? Would I get better money selling awning and bike rack separately etc etc?

Whilst I don't need it gone tomorrow (and so don't need to accept bargain bumper basement price), I also can't afford to keep it forever (but will be ready to get my next one asap!), so advice on how to get a fair, sensible price in a reasonable fast way would be excellent.

Thanks in advance

Garry

 

[4NT5]

I bought mine "not so used" from Christine + http://www.cmvehiclesdirect.co.uk/showroom
She usually has one or two Cali's in stock but doesn't seem to have any at the moment, so may be worth a call.

 

[The Blue Merle]

Advice required please...

Unfortunately I have found myself in a financial situation where I must sell my lovely T6 Ocean. We need to re-mortgage the house, and consolidate some debt, but the finance against my T6 is conspiring against the loan approval.

The financial terms on the VW loan mean I can't just return the van until 50% of the loan has been paid, so I am guessing I am looking at a private sale. I just don't have a clue how to assess the sale price accurately. Is a standard "book" value a good start (is there even such a thing)? Are there other suggestions? Does anyone know specialists that will buy used vans? Would I get better money selling awning and bike rack separately etc etc?

Whilst I don't need it gone tomorrow (and so don't need to accept bargain bumper basement price), I also can't afford to keep it forever (but will be ready to get my next one asap!), so advice on how to get a fair, sensible price in a reasonable fast way would be excellent.

Thanks in advance

Garry

What spec t6 have you got, you may get someone interested if you add that.
When I was looking to sell my old Cali I found vwcampersales offered the best price. I decided to sell privately and didn't take long.
If you get a figure from dealer then add a little bit extra on, your sell it no probs.
Just don't get greedy like some of the crazy prices out there.

 

[2into1]

Because your van has finance on it, selling it privately is more complex than normal (note: more complex, not impossible). I tried to buy a van like this once and ended up walking away, mainly as I lost confidence in the seller, who wanted me to pay him the money so that he could clear the finance - no chance!
From memory, the buyer has to work with the source of the finance, to be reassured the vehicle will actually be his.
You may be better selling to a dealer (try vwcampersales.com who sponsor the forum) as they will be more confident of the correct route. Dealers need their margin, but he knows the market well, unlike some other muppets.

 

[Verity]

I don't know about the finance regulations, but I would have thought if you advertise your van at a sensible price (not a low price due to lack of availability at the moment and it being the perfect time of year to buy a camper) it will be snapped up in days. When people are having to wait up to a year for delivery of new T6s, something which is available now is a very attractive proposition. Good luck, and sorry things are bad at the moment.

 

[2into1]

I don't know about the finance regulations

If you buy a vehicle that has outstanding credit on it, you don't own it. You are not permitted to sell a vehicle that's on finance (without the involvement of the finance co) because you don't own it.
It's all do-able, but both parties need to know the rules.

https://hpicheck.com/blog/buying-a-car-with-outstanding-finance/

 

[MattBW]

Yes it would also show up on a HPI check.


Sent from my iPhone using Tapatalk

 

[Rich20]

I would suggest checking the small print in your finance agreement to check you are allowed to sell the Cali ie does it belong to you or the finance company? It seems strange that you can't give it back until 50% of the loan is cleared. Sorry just posted this at the same time as 2into1

 

[The Blue Merle]

I bought a t5 work van a few years back what had finance on it, found it easy. As zapping money over to pay the finance company seemed safer than zapping cash to a stranger. (As long as you carry out all checks 1st) and think the chap only ended up with a few quid in cash when I picked the vehicle up.
Dealers tend to have there 2nd hand vehicles on the forecourt on finance too. We just don't get told that.
I'm sure your sell your t6 pretty quick as others have said there a rare beast at the mo!

 

[andyinluton]

Do you know how far off the 50% you are? - you can make a payment to the finance company to bring your payments up to 50% then hand it back.

The important question is whats the settlement figure on the finance V whats it actually worth? if theres a chunk of equity its worth the hassle of selling rather than handing back.

 

[2into1]

I can't imagine any Cali that has fallen to just 50% of its purchase cost, except one perhaps that's been written off!

 

[andyinluton]

I agree - its probably not applicable to the OP but-

Its not 50% of purchase cost, its 50% of the finance agreement
to keep the maths simple £50k van 100% loan 10% interest 5 year term. The finance is £62.5k

Vw do 10 year finance that would be something like £75k finance total. After 5 years payments are at the half way point. buyer is left with the choice - pay another £37500 to keep a 5 year old 100k mile van or walk away owing nothing further. If it was a 180 with a ticking time bomb of an engine & showing roof corrosion, due a major services etc etc it would be an easy decision.

 

[soulstyledevon]

I agree - its probably not applicable to the OP but-

Its not 50% of purchase cost, its 50% of the finance agreement
to keep the maths simple £50k van 100% loan 10% interest 5 year term. The finance is £62.5k

Vw do 10 year finance that would be something like £75k finance total. After 5 years payments are at the half way point. buyer is left with the choice - pay another £37500 to keep a 5 year old 100k mile van or walk away owing nothing further. If it was a 180 with a ticking time bomb of an engine & showing roof corrosion, due a major services etc etc it would be an easy decision.

Volkswagen finance on a California is daylight robbery.
I have no idea why anyone would sign up to their scheme.

However, OP have you tried talking to the dealers whom you bought the van from. This time of year people are flocking towards camper vans. Im sure yours is a decent preposition for the nearly new/used sector of the market.
Personally I would ring round a few main dealers and ask for quotes to purchase the vehicle. You might be surprised how different the offers are depending on their stockists

 

[2into1]

It's a 2015 T6 150 manual Ocean so privately worth around £43k. Probably cost about £45k in 2015. So even based on the outstanding finance (only 2 years in), it's never going to be best simply paying more only to hand the keys back. Never.