Value of trade-in in today's market

Ivan E

Value of trade-in in today's market

Hi, I am wondering what the current state of play is with regards trade ins in the current market. I am hearing mixed reports. Lots of talk about it being a buyer's market and being able to get good discounts but they all seem to revolve around cash buyers with no trade ins. Other accounts I have heard are that dealers aren't that interested in trade ins at the moment as they can't shift what they have.

I have a 1999 Volvo C70 T5 (2319cc) auto with nearly 80,000 on it. I am number crunching at the moment to see if it is worth my while changing it or just holding on to it for a while longer. I might be willing to spend £12k on top of the value of the trade in.

So I am wondering what my car is worth and whether the current market is good or bad for me?

Anan1

That car is close to being worthless, my advice would be to just keep driving it.

Lumen

If it's worthless in Ireland, you could always consider exporting it up north or over the pond.

For pre-2001 cars the road tax in the UK is bearable.

bazz26

My advice, drive it till it dies.

TheDriver

Can I hijack this thread, 2006 Focus zetec with 75000km on clock, anyone in the trade able to tell me what to expect next week when I start looking

bazz26

TheDriver wrote: »

Can I hijack this thread, 2006 Focus zetec with 75000km on clock, anyone in the trade able to tell me what to expect next week when I start looking

It will vary totally depends on what you are trading it in against. Don't be too hung up on what dealers are giving you for your car, the important figure is the "cost to change" price.

Just a word of warning though don't take it to heart if you get quoted silly figures as the second hand market is flooded with used Foci especially 1.4 litre models with lower mileage. I was thinking of changing a couple of months ago and I was getting silly prices to trade up from my low mileage TDCi Focus. Just decided in the end that the car is worth more to me than a dealer. They are selling nothing second hand at the moment and you can see why.

TheDriver

was thinking of a brand new kia proceed diesel so wondering a small garage would give me a respectful figure. Was hoping for 11k for it maybe?

rhapsodyway

Someone mentioned the "cost to change" price in a recent posting. Can someone explain what this term means please?

-Chris-

rhapsodyway wrote: »

Someone mentioned the "cost to change" price in a recent posting. Can someone explain what this term means please?

Cost of new car minus value of trade-in equals Cost to Change.

The reason to look for that rather than another figure like trade-in value or discount level is that it's a more holistic figure.

If you take your car to a Renault dealer you'll get a better trade in value than if you bring it to a BMW dealer. This is because Renault operate bigger discount levels than BMW and they'll add the discount to your trade-in value to inflate it.

People go from garage to garage, make to make, saying "well the guy down the road is giving me €x for my car..." when that's not a good way to compare the deals.

When you speak of cost to change, you're saying you'll hand over your trade-in and a cheque for €x. It's the more important figure.

245

My sister was recently quoted a trade in value of 10.5k from two garages for her 07 Golf Sportline with 15k on the clock. She's always done her own (good) deals so she's not a novice at this sort of thing. Its an immaculate car but it seems that dealers just don't want trade-ins, especially newer cars. Both garages (different marques) were quoting against a 09 car with a list price of 34K.

And they were the ones that bothered to phone back...

Times are tough. I was in a Renault dealership at the weekend and saw a salesman actually sprint for the phone. It rang off after a couple of rings and he stood there beside it, presumably willing it to ring :eek:

Ivan E

I would have thought that a dealer would be in favour of shifting a newer car off the forecourt with an older one coming in because there is less depreciation on the older one meaning they can hold on to it a bit longer.

L-M

The reason i would work off cost to change more is because people are hung up on the price they get for their car. The might buya certain car, lets say a Golf, for 10,000, because they are getting 8,000 for their own.
And another fella only offered them 6, but retailing the car at 8 so it costs the same to change. It all varies from situation to situation, one fella might have it added on one end, to give it on the other and visa-versa.

rhapsodyway

thanks for your helpful reply - appreciate it.

cvisser

i am in the trade too and i find everyone wants the € 6,000 to € 10,000 car, Very few people want to spend more € 10,000 on a car @ the moment. The only way cars are shifting @ the moment is purely on price, Some dealers and Joe Bloggs Customers have to be educated and Realise that Car prices have come down like a deck of cards, For Example 07 Cars i was selling for 13K last October, The same this October on a 08 Plate, i cant get 10K for and i have reduced these by 1,500 euro less than what they are costing me. These are hire drive cars i have taken in 5 weeks ago now. I am glad to say that Bussines has picked up now since i reduced all the stock by 150K. We are based in the midlands and now have people coming from, Cork (kinsale), Dublin, & sligo, to Buy. The secret to selling today is in the power on the Internet and Aggressaive pricing.

Regards.

L-M

cvisser wrote: »

The secret to selling today is in the power on the Internet and Aggressaive pricing.

I think you're after hitting the nail on the head. It's what i firmly believe in, and i think carzone has worsened the pricing case. One fella beats the next, to be lower on the list, and the next, and so on and on.

cvisser

Limerick-man wrote: »

I think you're after hitting the nail on the head. It's what i firmly believe in, and i think carzone has worsened the pricing case. One fella beats the next, to be lower on the list, and the next, and so on and on.

But also People buy of People they like, i would not buy something of somebody i did'nt like, but price is very important too. Me and you should set up Bussiness, lol Great minds think alike and all that.

Aussie Sean

ok i have an 01 Fiesta with 27000 miles on the clock,whats that worth on a trade in at todays "hardtimes" prices??

Sean

L-M

cvisser wrote: »

But also People buy of People they like, i would not buy something of somebody i did'nt like, but price is very important too. Me and you should set up Bussiness, lol Great minds think alike and all that.

Absolutely:D

But as information on second hand prices becomes alot more easy accessible, people will start travelling to get the right price, they might be buying of someone they like, but they might be getting robbed too. Ireland is a small country, if you were buying a used car, i'm sure there are hundreds of the same within a 100 miles radius. And when it come's to 000's of euro, 100 won't matter to anyone:D

As for the Fiesta, here's one already prepared for resale
http://www.carzone.ie/used-cars/Ford/Fiesta/1.25-GHIA/1070357/
I hope you have a service history or something to back up the low mileage. Depending on the car. I would say from 2000 to 2500, all depends on how much your spending etc. etc.

EDIT: Just realised that hasn't any NCT, but i still feel that is the money it would make.

Anan1

Aussie Sean wrote: »

ok i have an 01 Fiesta with 27000 miles on the clock,whats that worth on a trade in at todays "hardtimes" prices??

Sean

Read first, then type;):

bazz26 wrote: »

It will vary totally depends on what you are trading it in against. Don't be too hung up on what dealers are giving you for your car, the important figure is the "cost to change" price.

dark_prince

Do garages consider doing a swap of a car off their forecourt similarly priced to your own car with no change in cash? I have an 05 Saab 9-3 Aero I hope is worth somewhere around €20K still.

Option 1 is to do a swap for Audi/BMW similar price albeit older, or Option 2 is trading up and putting some extra cash towards a €30-€35Kish car... some 03 M3's falling into that category which are tempting me

bazz26

dark_prince wrote: »

Do garages consider doing a swap of a car off their forecourt similarly priced to your own car with no change in cash? I have an 05 Saab 9-3 Aero I hope is worth somewhere around €20K still.

Option 1 is to do a swap for Audi/BMW similar price albeit older, or Option 2 is trading up and putting some extra cash towards a €30-€35Kish car... some 03 M3's falling into that category which are tempting me

Garages are in the business of making money. Even if your car was valued the exact same as the car you wanted to swap it for, a garage would want money from you as they have to service, valet and offer a warranty on your car too.

Given the current state most dealers are in there is no chance I think that a garage would entertain the idea of a straight swap. In fact they would probably offer you a cost to change price that would encourage you to run out the showroom door.

However you might get some place to offer you a half respectable price against the M3 which probably would prove difficult to sell in the current economic climate.

dark_prince

Thanks Bazz, I thought it would probably be that way. Still, not the worst thing to consider (paying slightly more for similar currently-valued cars), looking at how my Saab depreciates from one year to the next it might work out better to move into a lesser-depreciating brand. And then there's always option 2 :-)