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Used Car Dealer Trade In Question

  • 01-12-2016 4:23pm
    #1
    MSVforever
    Registered Users, Registered Users 2 Posts: 596 ✭✭✭


    Hi folks,

    Its time to trade in one banger for another.
    I ve bought a 2nd hand car a couple of years ago and traded in my old one + cash:

    New car advertised for €2000.
    My car was valued at approx. €1500 if sold privately. However I went to the dealer and asked him how much I would have to pay towards the new car and was told €1000 which I was happy with.

    Fast forward a few years now and I see a car advertised which I like at €2250. When I rang the dealer he advised me that this is the cash price and the trade in price would be €2950 (he didn't know what trade in car I had at this stage) which confused me...

    Lets say my current car is worth €1000 in a private sale and €500 for a used car dealer.
    Would this mean that the dealer sells the car for €2950 and gives me €500 for my trade in so I have to pay €2450 in total (which would be pointless as I would only pay €2250 without a trade in car)?

    Maybe I am missing something here...

    Thanks.


Comments

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


    The discounted price is for buying it straight, ie no trade-in. The dealer is most likely giving you the trade value for your old car. Trade value is around what the dealer may sell it on to another dealer as is. You will nearly always do better not trading in especially given the low value of both cars. The dealer has to make money from the deal so with low value cars that profit margin is taken off the value of your old trade-in.

    Better off selling your old car privately on dondeal than trying to trade it.


  • #3
    MSVforever
    Registered Users, Registered Users 2 Posts: 596 ✭✭✭MSVforever


    bazz26 wrote: »
    The discounted price is for buying it straight, ie no trade-in. The dealer is most likely giving you the trade value for your old car. Trade value is around what the dealer may sell it on to another dealer as is. You will nearly always do better not trading in especially given the low value of both cars. The dealer has to make money from the deal so with low value cars that profit margin is taken off the value of your old trade-in.

    Better off selling your old car privately on dondeal than trying to trade it.

    Thanks bazz26.
    This makes sense now. I might have to go down the private route which Im dreading with all the timewaster etc


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