Selling used car and dealership involvement

[ragu]

Hey guys. I’m new to this and wanted to see if this throws any red flags for you.

I’m selling a used car, a fellow calls me and shows interest. Silence for a week.

I get a rushed call from a rep at House of Cars asking for VIN to solve financing for a client who’s interested. I return to work thinking it’s a fishing call.

I get another call an hour or so later, this time from first fellow saying he’d like to set up meeting tomorrow, but before if I can give out VIN it’ll help him (with financing).

Is that normal? Can giving VIN out cause any issues? I’m guessing not. But thoughts?

[roopi]

I don't think there is any concern giving out the VIN and I feel like I've read somewhere on Beyond about someone using a used car dealership for a private sale financing.

[rx7boi]

I'll let others give you the answer but for what it's worth, people need the VIN to run a Carfax if you're not paying for one yourself anyway.

[arcticcat522]

I don't see how giving out the vin could cause you any issue. I mean, anyone can walk upto any car and get the vin

[killramos]

No issue providing the vin. However I would want to hear a cash offer number before I give them any more info just to avoid some sleazy sales job from house of cars trying to get you to buy a new car.

[RX_EVOLV]

Happened to me. Was selling my car on Kijiji and House of Cars contacted me saying one of their clients wants to buy my car and they are helping with financing. First I thought it was a scam but went through anyway. We agreed on a price over phone, went over the next day to do the paper work, and got a cheque that we took to the bank right away. Everything went smoothly. They didn't try to upsell me on anything. In and out within 30 mins. They didn't even really inspect the car when I dropped it off.

Some poor guy probably paying crazy high interest costs for my car but

[Darkane]

I sold a car and was contacted by house of cars. The salesbro didn’t have a buyer, but he still wanted the car either for himself or to sell on the lot.

Test drive, meeting at the McLeod 39th ave location. All went smooth.

Gave me a house or cars cheque for the amount, we cashed it and it was actually very easy transaction.

[ThePenIsMightier]

This is interesting. It seems like a good strategy for their biz.

[Twin_Cam_Turbo]

HOC tried to convince me to give them my parents car I was selling on consignment. I’m sure some people can do it but I wouldn’t want any risk of letting someone else joyride the car, or people who start cars cold and bag on them, take short trips etc.

[killramos]

Hey if HoC makes you a cash offer their money is as good as anyone else’s.

It’s the rest of their business I wouldn’t touch with a 10 foot pole.

[Tik-Tok]

They are loan sharks, selling cars is just how they get clients.

[ExtraSlow]

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They are loan sharks, selling cars is just how they get clients.

Accurate.

- - - Updated - - -

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Hey if HoC makes you a cash offer their money is as good as anyone else’s.

It’s the rest of their business I wouldn’t touch with a 10 foot pole.

Accurate

[suntan]

Huh. Glad to be made aware of this.

[JohnnyHockey13]

So, curious to those that took HOC's offer, was is anywhere near what you wanted?...if it's legit, sounds like it would work in the seller's favor if all they're doing is being the middle man, most people walking into HOC don't care about the actual cost of the car, just payments, so HOC theoretically could care less how much you want for it, as long as their client is ok with the monthly payment, and it would be in HOC's best interest to pay you top dollar anyways so they max out the principal on the loan? Unless they're doing a flip at the same time for a profit that way as well.

[Darkane]

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So, curious to those that took HOC's offer, was is anywhere near what you wanted?...if it's legit, sounds like it would work in the seller's favor if all they're doing is being the middle man, most people walking into HOC don't care about the actual cost of the car, just payments, so HOC theoretically could care less how much you want for it, as long as their client is ok with the monthly payment, and it would be in HOC's best interest to pay you top dollar anyways so they max out the principal on the loan? Unless they're doing a flip at the same time for a profit that way as well.

I gave it to them about $500 less than what I was expecting. But their payment, no need for inspection, and cash that day - I took it. And it was easy.

[ThePenIsMightier]

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I gave it to them about $500 less than what I was expecting. But their payment, no need for inspection, and cash that day - I took it. And it was easy.

*car was initially priced at $675

[killramos]

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*car was initially priced at $675

Sounds like a good deal to not have to pay to dispose of that car lol

[RX_EVOLV]

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So, curious to those that took HOC's offer, was is anywhere near what you wanted?...if it's legit, sounds like it would work in the seller's favor if all they're doing is being the middle man, most people walking into HOC don't care about the actual cost of the car, just payments, so HOC theoretically could care less how much you want for it, as long as their client is ok with the monthly payment, and it would be in HOC's best interest to pay you top dollar anyways so they max out the principal on the loan? Unless they're doing a flip at the same time for a profit that way as well.

They made me a lower offer, but I was a bit skeptical with the situation so I said I'm firm with my asking price and they said deal. Don't think my car was priced to sell either. It has been on Kijiji/autotrader for ~5 weeks already prior to them reaching out.

[Darkane]

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*car was initially priced at $675

Fire sale lol.

[JohnnyHockey13]

I got an offer from someone claiming to be from HOC, deal is way higher than what I've been getting on Kijiji from private buyers....hope this is legit!