I am relocating and new to sell my brand new car

nopz

Hi
I just got a brand new car last month, and now i just got a very good job in Switzerland, what is the best way to sell my car i don't really feel like losing 5k on the one month old car.
is there and option to sell it back to the dealer or privately.
what about these car auctions?
it is a Skoda Octavia 1.6 Elegance with less than 1000KM, and the dealers have around 12 week waiting time on this model at the moment.
Thanks

Michael

gyppo

Michael,

The news for you is bad, Im afraid. Unless you meet a private buyer who absolutely loves your car, you are in for a considerable loss. Car auctions will probably be your worst option.
Sorry for all the negativity, but I'm being realistic.

mikemac

Is there a reason you won't take it with you?

After all, a lot of the guys from Eastern Europe brought over their cars with them

nopz

well its a right hand drive so i don't see the point as cars there are a lot cheaper than here as well
my insurance here only covers for 60 days abroad.
michael

MarkN

Go onto Carzone, have a look at the prices and find out what the cheapest 2007 1.6 Octy is. Then put yours below it in price.

bazz26

Selling it back to a dealer or at auction will be the worst thing to do financially.

Selling it privately will probably be the obvious choice. How much you get for it depends on the demand. If there is indeed a waiting list for this model then someone might be willing to pay a little over the odds to avoid that waiting list but at the end of the day the car is still second hand.

Not what you want to hear but as soon as the number plates were put on it it depreciated by around €2.5k to €3k.

Unless taking it to Switzerland is an option your going to loose money on it. How much you loose on may depend on how fast you want to sell it. At the end of the day a car is only worth what someone is willing to pay for it.

Not music to your ears I know but unfortunately that is reality.

barryfitz

Unlucky but as soon as your car leaves the showroom floor it has lot anywhere between 10 to 20% of its value. anyone that would pay full whack for a second hand car is a bit mental. unless they REALLY like the car as gyppo says.

MarkN

bazz26 wrote:

If there is indeed a waiting list for this model then someone might be willing to pay a little over the odds to avoid that waiting list but at the end of the day the car is still second hand.

If it was an E92 M3 or something yes, someone would pay the list price, over the odds or indeed higher just to have the car. But with all due respect to the OP and yourself too Bazz, we're talking about a run of the mill Skoda here, nobody is going to pay list or above it.

craichoe

Bring it to Switzerland, register it there and go with insurance in that country. Otherwise you'll takea 3 - 4 k hit in resale value as on top of that your looking for a quick sale.

MGrah

If we're all right about how much we complain about the price of cars in this country, surely the OP can sell the Octavia at a couple of grand loss, buy a higher spec model in Switzerland and still pocket a couple of grand, ending up better off than he/she is today?

One thing to remember though is that Switzerland is outside of the EU (as I'm sure you're aware), so I would assume that import duties may apply if bringing a car in either direction.

nopz

That is true i could lose 4k and buy a new 1.9tdi with the same money in Switzerland, but it is just sad loosing that amount.
i could accept losing 2k but 5k is just a bit much.
and because i have had it for less than 6 months i need to pay import duty. but can you get a refund of your reg tax here in Ireland?
Thanks for the advice guys.

michael

MR DAZ

This is semi related to the OP's situation - enjoy:)

http://www.youtube.com/watch?v=YVYW-4zPKLE

Owen

nopz wrote:

i could accept losing 2k but 5k is just a bit much.

The problem is that someone could buy one straight, without a trade in for about 3k off list price, and then you also have demo cars to compete with too.

colm_mcm

I understand that the 1.6 isn't a model that dealers stock, not due to it's rarity vale, but because most people want the 1.4 16v petrol or the 1.9 TDI. There will be a lot of ex hire cars available pretty soon, you'll be competing with these cars, so get your skates on before they come on the market.

bazz26

craichoe wrote:

Bring it to Switzerland, register it there and go with insurance in that country. Otherwise you'll takea 3 - 4 k hit in resale value as on top of that your looking for a quick sale.

Didn't make myself very clear. What I was trying to say was that a buyer might pay a little over the second hand market value of the car if they really want it badly enough. No way they will pay a new price for a used car though.