Third Party Used Car Reseller / Financers?

[Draug]

As you may have seen, I have two cars listed for sale in the Buy/Sell forum. I have also put them in the Autotrader and Kijiji.

I have received some calls from companies that claim they can sell the car, guaranteed, for a fee of around $200. I am sure that anyone who has listed a car in the Autotrader has had these calls.

One of these companies, "All Autos Financed", peaked my interest. They can offer financing for a buyer at rates as low as 4.9%. Because they offer this financing, even to high risk buyers, they claim that my odds of selling my vehicle drastically increase. Perhaps, they might, given that anyone who doesnt need financing for a $25k plus vehicle may just buy a brand new one instead of a used one.

What do you all think? Would being able to offer financing be a slam dunk towards selling the Mazda?

Has anyone ever dealt with any of these companies before? Did it help sell the car? What is the best company like this one?

I'd glady give away $200 to move the car quickly.

[Sample00]

unless they are financing the vehicles themselves, I find it hard to believe that they will offer financing for "any" buyer for rates that low. Typically sub-prime or clients with derogatory credit will pay a premium when financing a vehicle.
Having said that, who really knows anymore with any of these companies.
Our dealership will take vehicles in on consignment. Why consign a vehicle with a Used car dealership? well, we can offer financing, extended warranties, life insurance etc. It does make it easier to sell a vehicle for sellor when typically the sellor cannot offer those features.
We charge a rate of 7% with a minimum of $500.00 to consign a vehicle. This fee is only charged if we actually sell the vehicle. If we dont, then there is no cost to the sellor.
We require that the vehicle goes through a mechanical fitness report because AMVIC (Alberta Motor Vehicle Industry Council) requires it. Usually the cost for something like that is $100.00.
So getting back to your question at hand, I am sure they can offer financing. Can they give 4.9% to everyone...I find that highly unlikely.
just my $0.02.

[burn_this_city]

Its a complete scam they had a story on the news a few months ago. Good luck ever getting $200 back if they fail to sell your vehicle. One phoned me when I sold my car and got all offended when I asked him what it was like to rip people off for a living.

[Draug]

Yeah, I am sure the 4.9% is only for the best of credit ratings ... in which case a buyer could find a better rate with their own financing, perhaps a HELoC.

But, for the high risk borrower, sometimes a 9% rate or something similar is the only way to go.

As for the $200, I dont care if I never get it back. I view it as an advertising cost. Heck, the 2 week autotrader add was over $200.

Anyone used one of these 'services'? I'm tempted to try ...

Burn, do you remember what news? I cant find any news stories using google.

[Draug]

Thanks Fotze.

That thread also had this one embedded in it. It seems nobody has actually had any luck selling through any of these guys.

http://forum.calgarypuck.com/showthread.php?t=39945

I'll post a thread on RFD too ... I'll let you all know if anything useful comes of that.

[worth]

It's bull. I had them call me only once when I was selling my car, but they basically called my friend every day for two weeks about this harassing him to try to convince him to use them to sell his car.

[Deegee]

Wow I work as a lender and after paying out several other vehicle financing copanies I've never seen a rate as low as 4.9% on a used vehicle, ever.

[chummer]

I had them call met too as soon as my vehicle went on autorader.

Bottom line,buy a Honda,Toyota or Nissan,look after it and sell it yourself(make sure it's in showroom condition when someone comes to look at it).

You'll save thousands....it's easy when you know what you're doing.