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Trade in value -quick advice

  • 14-12-2012 8:35pm
    #1
    Easytisement
    Registered Users, Registered Users 2 Posts: 19 ✭


    Hi,

    I have a problem. I am seeing a dealer tomorrow and hopefully can trade in my car for another used car. Now here is the story behind it. I moved to Ireland in February. I had an old automatic car back then since I learned how to drive in the us I didn't really know how to drive a stick. I got me a really old used car in Germany when I got back from the states. Shortly after that I moved here and was in need of an Irish car (I'm here permanent). I was shopping around for cars in June this year and picked up an 05 Chevrolet Kalos sx Manuel for 2700. I thought I'll be fine learning it. Well, half a year later I'm still not comfortable with a stick and starting next year ill have to drive a lot (city but also long stretches to europe) and I want to do so comfortably. Long story short, I shouldn't have bought that car back in June! Now I found a nice automatic car on the Internet. I looked up what my Kalos sells for online and its at about 2500 so I put it up online for 2200 to get a quick sale, but no enquiries yet. The car I want is price tagged at 2400 by the dealer. What do you guys think I should go for when talking to the dealer? How much trade in value should I expect for my car? Please share your thoughts on that issue. Would really appreciate it!


Comments

  • #2
    bazz26
    Registered Users, Registered Users 2 Posts: 51,363 ✭✭✭✭bazz26


    If the dealer is looking for €2400 for the other car then you can be guaranteed that he will give you well under what your car is fetching in the market. They have to factor in things like warranty, valeting, servicing it and then make a profit from selling it on again. I would guess that they will want close to €1000 with your old car for the newer one.

    Before doing that I would try dropping the asking price of your car to €1995 and see if you get any interest as the cheapest option for you is to sell your own car privately and then buy the newer car straight out with no trade-in which should entitle you to a discount off the asking price.

    So if you got €1800 for your current car selling it privately and bought the newer car for €2250 (no trade-in) from the dealer it means it cost you €450 rather than near €1000 by trading it in. Of course these figures are only estimates but you get the general idea that it may well be cheaper to drop the asking price of your car and see if you can sell it privately than trading it in.


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