Car Sell / Buy Questions

Personally I always sell my old cars privately as Dealers have to put three to four thousand on to cover their overheads. spilt the diff between the wholesale and retail price so that you and the buyer are getting good value. Make sure the car is properly prepared(detailed) and take quality photos on a grassed area eg park with no buildings etc in background. A lot of private sale photos are terrible. Son just scored a bargain as the vendor took the photos in his shed under fluro lighting,as the son is in marketing he rel;ised this and was the only person to look at the vehicle.
Cheers Pete

If the work car was owned by the business, and the business is registered for GST, you should pay 1/11th of the sale price to the tax office as GST because it is a business sale. This applies even if the business bought the car privately with no GST in the purchase price. Best to consult your accountant. ATO does (or did) do quick busts on this type of 'disposal of assets' so best not to get it wrong.

Sorry if I didn't make it clear, doesn't matter how or where the old vehicle is sold - even to family, if it was owned by the business and the business is registered for GST then 1/11th of the sale price should be paid to the ATO. If given to a family member or sold to a family member below cost, then 1/11th of the value should be paid to the ATO. Cheers.

Private sale can be a mine field sometimes , or a great experience.

There are genuine buyers who will want a inspection and a little haggle job done.

Then . people who dont turn up and kept you in all weekend. people posing as buyers that are theifs. people who want a inspection and then hagle after the agreed price because there that way inclined. And there is the type whos finance falls through after all the above.


Just another day at the office lol