If you think that Estate Agents fees are on the high side ......
| Related: | Travel, Flights & Holidays•Motoring•Buying Motor Vehicles |
Take a closer look at buying and selling your car through a car auction sales room. I popped into my local car auction sales room yesterday ( prior to their Friday evening sale ) and I was amazed that their 'terms of engagement' (if you are a seller) include a 10% commission on the sale plus documentation fee plus VAT. And if you are a buyer, then you pay a 6% commission on the sale price plus a documentation fee plus VAT. Plus you pay another commission if you pay by cash. Unless I am wrong that means commission and costs ( without VAT ) in excess of £1280 on a sale price of £8000. Has anyone else experienced buying or selling via a car auction and did you face these stiff fees? And more to the point, are these costs reasonable?
Responses (2)
I wonder if that's why there seems to be a huge increase in cars parked in laybys and side roads with for sale signs stuck on them?
These charges do seem very excessive! I never knew they were this high?! How many cars did this auction sell per week? That could be a very nice return!
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