Trade Down at Dealers

soapbloggs

Hi,

I want to sell a 02 BMW 318i Auto, since the buyers market is just that, it seems like to sell the car I practically have to give it away. So I was thinking of trading down at a dealers. Can anyone tell me a dealer in the Galway/Clare region who still is doing that in this current market? Last time a dealer valued my car in November 08 to trade with, it was worth €12k. I shan't imagine it'll get that, but I want to trade down to a smaller cheaper car, say in the €5k range. Am I being too optimistic? I can't lose too much though as I'm still paying installments for it and the bank won't authorise a big loss.

I don't suppose anyone got a hint anywhere that there is positive news coming to the Irish car market at last and that I should hold onto the car a little longer?

Anan1

Dealers are in the business of bringing money in, not giving it out - unless you really need the money, i'd hold on to your current car. If you do want to trade down, the only sensible way is to sell your car privately.

Cuddlesworth

Its a buyers market if you want to only buy a car. Like its a buyers market if you want to buy a house. If on the other hand you are looking to sell with assets, its not as they are as devalued as everything else.

Darragh29

Absolutely forget it is my advice OP.

lifer_sean

soapbloggs wrote: »

Hi,

I want to sell a 02 BMW 318i Auto, since the buyers market is just that, it seems like to sell the car I practically have to give it away. So I was thinking of trading down at a dealers. Can anyone tell me a dealer in the Galway/Clare region who still is doing that in this current market? Last time a dealer valued my car in November 08 to trade with, it was worth €12k. I shan't imagine it'll get that, but I want to trade down to a smaller cheaper car, say in the €5k range.

If you are trading down with a dealer, then you are essentially asking him to buy your car. When he sells it, he will have to take margin on it to cover warranty, preparation for sale etc. Unless he has a hot buyer for your car, he is going to offer you less for it than you could sell it for yourself. He would value it at approx the price he could buy one in the trade or at auction. For a 02 3-series that's nowhere near 12k unless it is something really special, probably more like 6k (I can sell a 03 one for 9.5k retail and there is no queue for it).

Trading a car in for a more expensive car is different. If he was allowing you 12k off the car against a newer one, then he is not actually giving you 12k for it because he would discount the car he is selling for straight sale anyway. Also if he told you what he was actually giving you for your car, you would probably feel insulted and deal elsewhere.

Dealer would have a better chance of selling a "smaller cheaper car in the 5k range" than your BMW, and he doesn't have to invest extra money.

bazz26

A 318i with an auto box was not a car in great demand at the best of times in Ireland, in the current market I reckon a dealer would be stuck with it a long time.

No offense OP and I am not disrespecting your car but the way things are at the moment against a €5k car I reckon most dealers wouldn't even consider giving you a straight swap not to mind give you cash with it unless it was something unsellable sitting on their forecourt for ages.

My advice is to keep what you have if you can, it will be worth more to you than a dealer.