Trade in problem?

turniphead

Hey there, just looking for some help and advice!

I recently put down a deposit with a reputable dealer for a car. I was happy with the deal and they offered me €600 for my own car (03 Mondeo, 170,000km) as part of the purchase.

I am still waiting to pay the balance because I asked the dealer to put my new car through the NCT as part of the deal. They had no problem with that and as soon as it's passed the NCT they'll be contacting me and I'll complete the transaction.

My problem is this.....yesterday I was driving along the M50 in my old banger when I heard a rattle from the engine. I kept going because I was nearly home. There is clearly a problem with the engine. The car is still drivable but the rattling noise is very loud, there has been a loss of acceleration power and the temperature gauge has been fluctuating.

So what is the best thing I should do? I know I'll have to tell the dealer and I doubt he'll be sticking with the €600 we agreed on! Maybe I should try cash-for-cars or a scrap dealer in the hope that I'd get something close to the €600 mark?

It's a very decent car (apart from the engine!) with nice little extras such as alloys, unique leather interior and 6-CD radio changer.

Any help and advice would be very welcome. I really can't afford to cough up the extra €600 cash to complete the purchase of my new car. Thanks

colm_mcm

I'd be curious to see how much you could have bought the car for without a trade in

Have you placed a deposit?

turniphead

Yeah colm_mcm. I have a deposit down on it alright. As it stands I'm paying €8,300 plus my car (€600) for the new one.

€600 might seem little compared to the €8,300 but it really isn't considering how long I've been saving for. I really don't want to go down the loan-route either.

Suppose something for my own car would be better than nothing. Every little helps!

Anan1

turniphead wrote: »

Yeah colm_mcm. I have a deposit down on it alright. As it stands I'm paying €8,300 plus my car (€600) for the new one.

€600 might seem little compared to the €8,300 but it really isn't considering how long I've been saving for. I really don't want to go down the loan-route either.

Suppose something for my own car would be better than nothing. Every little helps!

What was the asking price of the new car? How much did they want for the car without a trade-in? I think Colm's point is that they weren't really giving you anything for the Mondeo anyway.

turniphead

Oh right. Original asking price was €9,000

JohnBoy26

Id just ask for a straight cash deal with no trade in, and leave your old car out of the deal completely. You can always sell that privatley afterwards, or if it has something seriously wrong with it to a breaker.

Anan1

turniphead wrote: »

Oh right. Original asking price was €9,000

Like Colm, i'd I'd be fairly confident that you could have got the car for €8300 with no trade-in at all.

JohnBoy26 wrote: »

Id just ask for a straight cash deal with no trade in, and leave your old car out of the deal completely. You can always sell that privatley afterwards, or if it has something seriously wrong with it a breaker.

Good advice, but it's too late now.

turniphead

I did ask if I paid cash could I get a better deal but I was told it would make no difference to the price. I genuinely don't think the asking price will be lower without my car anyway. To be fair it was already a very competitive price and what I couldn't get marked down further I got extras such as the NCT, extended warranty, full tank of fuel etc.

Overall, I was happy paying the €8,300 plus my car. I felt it was a fair deal.

It seems my options are....pay €8,900 and sell my car privately or see what the dealer will give me for my old car and pay the difference (i.e. €8,700 plus my car or something similar?)

colm_mcm

I think when you said paying cash, they may have thought you meant cash as opposed to getting finance.

JohnBoy26

Anan1 wrote: »

Like Colm, i'd I'd be fairly confident that you could have got the car for €8300 with no trade-in at all.Good advice, but it's too late now.

Agreed it's a bit late now and it's an awkward situation, but could the op not go back and tell the dealer that they would rather a straight cash deal now instead of a trade in as circumstances has changed?


Edit: just read the op post above where they offered to pay cash. Please discount the last part of my post.

turniphead

I don't think I have any bargaining power left considering my deposit is paid! I would be very surprised if the dealer just didn't say €8,900 without the car.

colm_mcm

How much deposit was, PM a link to the car if you can

aujopimur

Freewheel into the dealer, lock the car, mislay the keys until you're driving away in your new car.:D

turniphead

The deposit was €300. I can't PM a link either because they've taken the add down. Sorry about that.

Basically was hoping to give them my car plus €8,000 once they'd sorted the NCT. It was only going to take a few weeks and I thought it was best that way so that they cover the NCT. Slightly backfired now that my own engine has blown! €600 down the drain. Murphy's Law!

turniphead

aujopimur wrote: »

Freewheel into the dealer, lock the car, mislay the keys until you're driving away in your new car.:D

Ha! I'm sure there's a few lads who would try that but I'd rather be up front and honest. I've a 12 month warranty with them and if anything was to go wrong I'd have to bring the car back to them.