Trading slighty up

CountingCrows

My own car for example is worth about 11K and I'm looking to change into a car with a sticker price of 15K. Obviously I know the ideal scenario is to sell private and buy with cash but ... are dealers interested at all in deals which don't include a large amount of cash?

mickdw

You will get a shock I would think when they offer you a price to change. Values on cars for trade in are so bad now.
What are you trading and what are you buying?
Most dealers will try to turn your deal into a large amount of cash, i.e. give you little for your car.

EPM

I asked for a price just on spec last week with figures identical to yours...was quoted 9.5k to change...

lifer_sean

What's in the transaction for the dealer ? He has to warranty and service the car he is selling to you, and then has to warranty and service your trade-in. Unless he is getting financially compensated (charges you money !) he won't do that.

In terms of general market sentiment (vs your personal taste), is the car you are trading in more or less desirable than the one he is selling ? If your trade-in is "hot" stock, and his is a slow-moving model, then the attraction for him is that he will have an easier car to sell, hence more likely to deal with you. If it's the other way around, he is better off to hold on to what he has, regardless of price.

A dealer once described taking an expensive trade-in as "selling two cars to get the price of one". Shows the transaction from a different viewpoint.

carface

mickdw wrote: »

You will get a shock I would think when they offer you a price to change. Values on cars for trade in are so bad now.
What are you trading and what are you buying?
Most dealers will try to turn your deal into a large amount of cash, i.e. give you little for your car.

Without stating what you are driving and looking to buy wanting to change an 11k(your valuation) car to own an 15k car sounds pointless.
The next buyer will value your car at same as what they can import same car for from north.So dealers here have to price your trade in likewise.

CountingCrows

mickdw wrote: »

What are you trading and what are you buying?

01 320CI to a Alfa GT JTD is the plan, but looking at the posts I don't think its a runner!

lifer_sean

CountingCrows wrote: »

01 320CI to a Alfa GT JTD is the plan, but looking at the posts I don't think its a runner!

01 - 03 petrol BMWs making very low money in Merlin at the moment. 01 sold last night for around 4500. Okay the 320Ci will make more than a 318 saloon, but 4500 vs your valuation of 11k is a huge gap. Dealer will be valuing your trade-in at what he could buy it into stock at, either from UK or from Irish auction.

So he wants 15k for Alfa, and let's guess a trade price for 320Ci at 50% above auction price for 318 saloon = 6750, so he asks you for 8250 to change ????

mickdw

lifer_sean wrote: »

So he wants 15k for Alfa, and let's guess a trade price for 320Ci at 50% above auction price for 318 saloon = 6750, so he asks you for 8250 to change ????

Yes, Id say that is fairly accurate.
So best thing to do is buy the car straight for alot less than 15k. then sell your car for 8k resulting in cost to change of possibly 5k - 6k approx

CountingCrows

Cheers, figured as much but thought I'd gauge opinion.

carface

mickdw wrote: »

Yes, Id say that is fairly accurate.
So best thing to do is buy the car straight for alot less than 15k. then sell your car for 8k resulting in cost to change of possibly 5k - 6k approx

In todays market maybe try sell your own first then go buying.Dont assume anything regarding selling your own .You may be left with both cars trading in regardless of cost is a very simple transaction for you. Buying is easy compared to selling.

bazz26

CountingCrows wrote: »

Cheers, figured as much but thought I'd gauge opinion.

No harm in that. All our cars are worth alot less than we think, good if buying but it sucks if your trying to sell.