Valuing your car based on carzone

BennytheBall

Hi

Appreciate this is a bit of a general question but welcome feedback.

I have a 2008 Mondeo and on carzone when I search for the nearest 5 cars in terms of spec to my own (incl mileage, etc) I find that the average asking price for the most similar cars is 9,500 (in dealerships)

Based on this how much less should I expect to get for my own car if trading it in ... i.e. 7k, 8k ?

Not sure what margin dealerships generally take so welcome any advice.

TonyStark

BennytheBall wrote: »

Hi

Appreciate this is a bit of a general question but welcome feedback.

I have a 2008 Mondeo and on carzone when I search for the nearest 5 cars in terms of spec to my own (incl mileage, etc) I find that the average asking price for the most similar cars is 9,500 (in dealerships)

Based on this how much less should I expect to get for my own car if trading it in ... i.e. 7k, 8k ?

Not sure what margin dealerships generally take so welcome any advice.

They'll look at the book value (trade value ) of the car and make you an offer based on that. The offer will be less than that valuation and much more less than asking prices on websites. :-/

BennytheBall

Thanks Tony

I guess I'm trying to understand what might typically be the gap in a case like this... if the average asking price on carzone is 9.5k, would the offer be likely to be in the region of 5-6k, 6-7k, 7-8k? based on experience (which I don't have) ?

Wicklowandy

It'll depend on what you're trading it against.

Stop focussing on what you're getting for a trade in; worry about the cost of what you're buying and the potential straight sale price for what you want. Especially at this time of year, a dealer may offer a better discount on a straight deal to leave no metal sitting in his yard.

Concentrate on the cost to change if you're trading in. Fixating on the trade in value of what you have allows a dealer to price the deal the way they want to.

BennytheBall

THanks for the feedback
I will do so - I suppose I wanted to have an indication of what might be in my budget before I start giving up my weekends visiting dealerships but I take the point

Wicklowandy

Probably try donedeal for a private sale valuation: just remember they're asking prices not selling prices, compare like with like (ie a 1.8 tdci 5spd hatch is worth less than a 2.0 estate)

Good luck in your search

bazz26

Also remember that dealer asking prices include some fat for straight deal discount off their price - i.e. they price it high allowing them to come down. Also dealer prices include a warranty, a service, tidy up and profit margin on the car so the trade-in price they buy the car from you for has to be lower.