Are trade-in prices really this poor?

dbagman

So I went to look at upgrading my jeep both last weekend and this. I have a 2008 landcruiser with about 190k miles on the clock. They are currently for sale by dealers from anywhere in the region of 11 grand up to 16 or 17 depending on mileage/spec etc.

To put my own in perspective there is one in particular with 100000kms more on the clock than mine for sale at 12k, and another with about 80k less on the clock going for 14k. By my reckoning looking at these and other 08s on done deal mine should easily be in the 12 or 13k region in a dealership. If you were to go private prices obviously come down a fair bit but still you'd do well to find one much below 9 grand.

Now Im aware that when trading in youre going to take a hit as the dealer has to make their money too and thats fair enough. But out of the 2 dealerships Iv been to I can say Iv been insulted at their offers.
The first wanted to give me "6 or maybe 6500 at a push" and tried claiming its an 8 grand vehicle. Despite everything Iv seen online suggesting otherwise. And then came todays "offer". I was looking at a yolk priced at 11900.

After looking at my jeep (its in good shape,few marks on the body but its a 9 year old work jeep at the end of the day and no more than normal on that age venicle) I was ushered into a office and informed that with my jeep they would let me upgrade for "only" 6900. In other words allow me 5 measly grand for my jeep.

I could of called the guards had he taken it for that price.
Lets look at the figures for a second. So lets say todays dealer was only making 2 grand on his 11900 priced car. Now take my trade into account. If he were to even low ball it compared to prices at other dealerships and stick it in for 11 grand, thats a nice tidy little sum of 8 grand profit hes just made for selling a 11900 car.

I wasnt expecting anything crazy on a trade in. 9grand and i would of been happy. Still leaving the dealer scope to make at least 2 on my jeep aswell as the 2 selling me the other car. Tidy little 4 grand profit. Are dealerships really this greedy?

Or am I the one living in the clouds? I really dont think 9 grand for a jeep making 12 or 13 on the open market is unreasonable, is it?

whippet

its worth what someone is willing to pay for it.

When doing a deal you are looking to get as much for your yoke and the dealer is looking to pay as little as possible for it.

The sticker price on the jeeps you are looking at might be 12k .. will probably sell for 11k after a bit of horse trading. The deal would probably want to clear 2k or more on the trade in after paying for a service, valet and having to stand over the motor after they sell it.

its all relevant, maybe the dealer just does not want a 10 year old work worn jeep sitting in his forecourt so will not offer any decent trade in on it.

You'd be better off selling it privately and heading in to a dealer with cash in hand and start from there..

Sono

Trade ins on second hand vehicles are a joke alright, went to a main dealer about a possible trade in and he comes back with a derisory offer and I told him as much, he knew it was shocking what I was being offered and he never heard from me again. Some people just go for it as they don't want the hassle of selling privately and I get that but the offers main dealers give really is disgraceful.

dbagman

whippet wrote: »

its worth what someone is willing to pay for it.

When doing a deal you are looking to get as much for your yoke and the dealer is looking to pay as little as possible for it.

The sticker price on the jeeps you are looking at might be 12k .. will probably sell for 11k after a bit of horse trading. The deal would probably want to clear 2k or more on the trade in after paying for a service, valet and having to stand over the motor after they sell it.

its all relevant, maybe the dealer just does not want a 10 year old work worn jeep sitting in his forecourt so will not offer any decent trade in on it.

You'd be better off selling it privately and heading in to a dealer with cash in hand and start from there..

but even at 9 im allowing at least a couple of grand of a mark up. they took my yolk for a spin, had a look round it so they know its in decent shape.
It really wants for nothing. 200 quid on a test and a valet and its good to go. 5 grand is an absolute pisstake to be fair.

You and I both know he will have that up for 12 grand next week. Even if he sticks it up at 10 hes cutting the arse from under all other dealers currently selling similar and doubling his money. Thats criminal.

I really dont want the hassle of selling it privately which is why I was willing to take the hit trading it in, but im not about to be taken to the cleaners on it. Even if I got it up to as much as 8 and a half id consider it if I really wanted the car I was trading in for.

kona

Try adding in vat and overheads etc. Dealer wont be makimg a tidy little profit at all.
Maybe try sell the car private?

CZ455Mad

Right I'll throw my two cents in here as I'm a mechanic by trade... the simple answer is that your keep will more than likely be sold to a second hand dealer... when you show them your car/van/jeep... that particular salesman will go off and ring his little list of traders (small forecourts and the likes) and ask them to price the vehicle over the phone... salesman will describe the vehicle and the trader will make an offer basically 90% of the time they will want to turn your car/van/jeep into instant cash! This being said on most trade ins the salesman won't make a cent maybe a pint from the trader if he's spotted out in the pub or a voucher or some sort of a stand.... basically the moral of the story is it's the trader who sets the price not the salesman he's only getting what he can for it... and as you know if you are to go to a small traders yard that you will not pay the same as a main dealer or a large trader... this means they have less of a mark up and will only be willing to pay less than you think... that's just from my knowledge anyway

D

noel100

I had citroen c4 grand picasso 10reg last year
Selling for 10-13k in dealers.
Offered between 3-6k on trade-ins on second hand cars.
Bought a new car got 9.5k on trade-in and better finance deal than the second hand cars.
So try uping what your spend and move up in the years and get a better deal.

dbagman

CZ455Mad wrote: »

Right I'll throw my two cents in here as I'm a mechanic by trade... the simple answer is that your keep will more than likely be sold to a second hand dealer... when you show them your car/van/jeep... that particular salesman will go off and ring his little list of traders (small forecourts and the likes) and ask them to price the vehicle over the phone... salesman will describe the vehicle and the trader will make an offer basically 90% of the time they will want to turn your car/van/jeep into instant cash! This being said on most trade ins the salesman won't make a cent maybe a pint from the trader if he's spotted out in the pub or a voucher or some sort of a stand.... basically the moral of the story is it's the trader who sets the price not the salesman he's only getting what he can for it... and as you know if you are to go to a small traders yard that you will not pay the same as a main dealer or a large trader... this means they have less of a mark up and will only be willing to pay less than you think... that's just from my knowledge anyway

D

This wasn't a main dealer, he is a second hand car dealer and he had similar and older aged vehicles on site. He also appeared to have an area out back that resembled a bargain bin for lack of a better word. It would appear he sells on his trade ins himself. Even so 5 grand is a derisory offer for what I have. Even after taking all overheads into consideration to offer me what he did is miserable. really really is.

colm_mcm

You'd be much better off selling privately. One issue many dealers would have is that cruisers cost a lot to prep and they might not want to retail it so get a trade bid.

I'd be wary of any implied trade in values against a brand new car, as the new car discount is used to artificially inflate the trade in figure vs the RRP of the new car.

wersal gummage

dbagman wrote: »

. By my reckoning looking at these and other 08s on done deal mine should easily be in the 12 or 13k region in a dealership........ I was looking at a yolk priced at 11900......

Sorry if I've missed something, but why are you trading in what you think is a 12k jeep for a 11.9k jeep? How do you expect to do well on that really?

colm_mcm

They might be looking at something like a RAV4/Santa Fe etc

CZ455Mad

This wasn't a main dealer, he is a second hand car dealer and he had similar and older aged vehicles on site. He also appeared to have an area out back that resembled a bargain bin for lack of a better word. It would appear he sells on his trade ins himself. Even so 5 grand is a derisory offer for what I have. Even after taking all overheads into consideration to offer me what he did is miserable. really really is.[/quote]


He was just low balling you for one of a few possible reasons...

- Has enough 4x4 stock
- Doesn't sell many of them
- Has been sitting on some/several for extended period which means he might have the 5K offer he made you tied up for 6-12 months maybe

-also side note talking to a lot of CVRT tester friends of mine and with it becoming stricter in most parts of the country a lot of "Work" or "Farmer" 4x4 are failing on rust and rot on the underbody... not a cheap fix as you need an engineers report now... days of just spraying under seal everywhere are well and truely gone...

P.S not saying this has effected your particular 4x4 but it known in the trade at the moment

Also not trying to defend a Low Ball offer like his but just explaining possibly why he done it

D

dbagman

wersal gummage wrote: »

Sorry if I've missed something, but why are you trading in what you think is a 12k jeep for a 11.9k jeep? How do you expect to do well on that really?

fuel economy being the main reason. the LC is a 3 litre, the yolk i was looking at a 1.8 litre. Id quite literally half my diesel consumption. prbs saving 100 quid a month and with an extra mouth to feed in the coming weeks my head is ruling my heart. also as the LC hold their value so well I could come up a few years. well at least so i thought. I knew id have to throw a few grand with it but this is beyond a joke.

Toyotafanboi

If you reckon it'll retail for 12k, 6-6500 is as reasonable a trade in value as you could expect IMO.

You won't see €1000-1500 going on prep for sale costs on something like a Cruiser if it needs a service, 2x tyres, a DOE and a bit of bodywork, set 500 aside for warranty, 500 gone to haggling and you'd want to plan to make 3k off the whole thing to keep the doors open.

humberklog

Is yours a commercial and what your buying a commercial?

colm_mcm

I would imagine he's looking at a Mitsubishi ASX?

dbagman

Toyotafanboi wrote: »

If you reckon it'll retail for 12k, 6-6500 is as reasonable a trade in value as you could expect IMO.

You won't see €1000-1500 going on prep for sale costs on something like a Cruiser if it needs a service, 2x tyres, a DOE and a bit of bodywork, set 500 aside for warranty, 500 gone to haggling and you'd want to plan to make 3k off the whole thing to keep the doors open.

passed its last test only last feb or march. is out again but will fly it. it literally needs nothing. a service and clean it out. that shouldnt run much more than 200 quid. going on some of the vehicles this guy had in stock, and indeed the one i went to look at too, touching up bodywork isnt something they concern themselves with. as far as i can gather its pure greed. he has similar yolks for sale so its not like he doesnt deal in jeeps.

Toyotafanboi

Best thing you can do then is stick it up privately for 12k and get your 12k handy, buy the other car for 11,900 and profit yourself €100 for your troubles, simples, no?

dbagman

humberklog wrote: »

Is yours a commercial and what your buying a commercial?

commercial to a car. i dont need a commercial is another reason im looking to change actually. i have a toolbox and a drill in the boot of the cruiser falling all over the back of it as theres nothing else in it.

dbagman

colm_mcm wrote: »

I would imagine he's looking at a Mitsubishi ASX?

your imagination is correct at least i was looking at it.

dbagman

Toyotafanboi wrote: »

Best thing you can do then is stick it up privately for 12k and get your 12k handy, but the other car for 11,900 and profit yourself €100 for your troubles, simples, no?

i really dont want the hassle of a private sale. i dont have the time for one. and i cant be without a car either between time i sell it and buy another

colm_mcm

Keep in mind that the lower priced examples are priced to sell. An ASX diesel for 12k strikes me as on the lower end of the market?

dbagman

colm_mcm wrote: »

Keep in mind that the lower priced examples are priced to sell. An ASX diesel for 12k strikes me as on the lower end of the market?

iv no idea mate. they seem a pretty rare enough yolk so not really alot of them to compare.

Toyotafanboi

dbagman wrote: »

i really dont want the hassle of a private sale. i dont have the time for one. and i cant be without a car either between time i sell it and buy another

Those thing all have a value and a cost though.

That value is the difference between trade in price and private sale price.

dbagman

Toyotafanboi wrote: »

Those thing all have a value and a cost though.

That value is the difference between trade in price and private sale price.

again im perfectly aware of that mate. which is why i fully expected to get about 9 for it, or 3 k below what they're going for. 5grand was an absolute insult.

colm_mcm

dbagman wrote: »

iv no idea mate. they seem a pretty rare enough yolk so not really alot of them to compare.

What year is it?

dbagman

colm_mcm wrote: »

What year is it?

one i went to see was 131,

colm_mcm

That would be the cheapest 131 from a dealer. There's some 131 ASXs asking €16900. The same as there's some cruisers asking big money.

For Forks Sake

If it's this one you'd have zero chance of a decent trade-in, all he's interested is flipping cars as fast as possible,

Toyotafanboi

dbagman wrote: »

again im perfectly aware of that mate. which is why i fully expected to get about 9 for it, or 3 k below what they're going for. 5grand was an absolute insult.

9 is what the car will "stand" the dealer after they pay you 6500 for it and get it ready for sale.

dbagman

colm_mcm wrote: »

That would be the cheapest 131 from a dealer. There's some 131 ASXs asking €16900. The same as there's some cruisers asking big money.

how did you know it was an asx i was looking at? Well its all mileage dependant at the end of the day isnt it? like i said iv seen a swb cruiser 08 with 410000km and its up for 12k. I was never expecting anything close to that but 5grand was a ****ty offer. I don tthink im being unreasonable or unrealistic thikning its worth near 9 on a trade in. Iv traded in yolks in the past and was always pretty close in my estimations as to what id get. So why is it different this time? Im wondering if as the country is back booming again have dealers lost the run of themselves and got a taste of the green eyed monster?

dbagman

For Forks Sake wrote: »

If it's this one you'd have zero chance of a decent trade-in, all he's interested is flipping cars as fast as possible,

thats her alright. fair enough i guess if thats his business model.

colm_mcm

dbagman wrote: »

how did you know it was an asx i was looking at? Well its all mileage dependant at the end of the day isnt it? like i said iv seen a swb cruiser 08 with 410000km and its up for 12k. I was never expecting anything close to that but 5grand was a ****ty offer. I don tthink im being unreasonable or unrealistic thikning its worth near 9 on a trade in. Iv traded in yolks in the past and was always pretty close in my estimations as to what id get. So why is it different this time? Im wondering if as the country is back booming again have dealers lost the run of themselves and got a taste of the green eyed monster?

I knew it was an ASX as soon as you said it had a 1.8 engine

Asking prices are just that. If they're worth 12k-16k then sell yours for €10k and they'll be queuing up to buy yours.
The reality is different though.

dbagman

Toyotafanboi wrote: »

9 is what the car will "stand" the dealer after they pay you 6500 for it and get it ready for sale.

ah how do you figure that? from what iv seen of this place they dont even put much effort in getting their cars ready for sale. looked in a few yolks and they could have done alot more to get them looking good. unless hes changing major parts in it (which it doesnt need) how do you figure hes going to put 2,500 into it?

ozt9vdujny3srf

I think you aren't helping yourself by considering offers on your car "derisory". If you go to a number of dealers and this is what they offer, then this is what the car is worth as a trade in. If someone makes you a better offer, then happy days. At the end of the day, everyone is just trying to get the best deal they can, and the dealers aren't going to go offering trade in values on cars that just gives them extra work with no extra profit.

Mintoe

dbagman wrote: »

So I went to look at upgrading my jeep both last weekend and this. I have a 2008 landcruiser with about 190k miles on the clock. They are currently for sale by dealers from anywhere in the region of 11 grand up to 16 or 17 depending on mileage/spec etc.

To put my own in perspective there is one in particular with 100000kms more on the clock than mine for sale at 12k, and another with about 80k less on the clock going for 14k. By my reckoning looking at these and other 08s on done deal mine should easily be in the 12 or 13k region in a dealership. If you were to go private prices obviously come down a fair bit but still you'd do well to find one much below 9 grand.

Now Im aware that when trading in youre going to take a hit as the dealer has to make their money too and thats fair enough. But out of the 2 dealerships Iv been to I can say Iv been insulted at their offers.
The first wanted to give me "6 or maybe 6500 at a push" and tried claiming its an 8 grand vehicle. Despite everything Iv seen online suggesting otherwise. And then came todays "offer". I was looking at a yolk priced at 11900.

After looking at my jeep (its in good shape,few marks on the body but its a 9 year old work jeep at the end of the day and no more than normal on that age venicle) I was ushered into a office and informed that with my jeep they would let me upgrade for "only" 6900. In other words allow me 5 measly grand for my jeep.

I could of called the guards had he taken it for that price.
Lets look at the figures for a second. So lets say todays dealer was only making 2 grand on his 11900 priced car. Now take my trade into account. If he were to even low ball it compared to prices at other dealerships and stick it in for 11 grand, thats a nice tidy little sum of 8 grand profit hes just made for selling a 11900 car.

I wasnt expecting anything crazy on a trade in. 9grand and i would of been happy. Still leaving the dealer scope to make at least 2 on my jeep aswell as the 2 selling me the other car. Tidy little 4 grand profit. Are dealerships really this greedy?

Or am I the one living in the clouds? I really dont think 9 grand for a jeep making 12 or 13 on the open market is unreasonable, is it?

08 lwb Lc commercial with 188,000 miles on it on CarsIreland.ie in a dealer for €9,950...... why would a dealer give you €9k for yours.....€6-€6,500 is pretty much bang on for it as a trade in value.......

dbagman

Mintoe wrote:

08 lwb Lc commercial with 188,000 miles on it on CarsIreland.ie in a dealer for €9,950...... why would a dealer give you €9k for yours.....€6-€6,500 is pretty much bang on for it as a trade in value.......

I was offered 5 grand. And I just had a quick look at that site and that's 1 jeep selling cheap. Hardly reflects their market value. I'm sure upon closer inspection you'll soon see why it's going much cheaper than every other 1 on the market.

Autochange

After reading the opening post and all of the replies and opinions I may have found a solution for you
Wait for it... I f you are not happy then go somewhere else. If you are still not happy then your placed value on the jeep is off and it is your own problem. So sell it privetly , burn it for the insurance or keep driving it. Best of luck

Comhrá

Autochange wrote: »

After reading the opening post and all of the replies and opinions I may have found a solution for you
Wait for it... I f you are not happy then go somewhere else. If you are still not happy then your placed value on the jeep is off and it is your own problem. So sell it privetly , burn it for the insurance or keep driving it. Best of luck

And here we have yet another smartass keyboard warrior trying and succeeding at making a useless, stupid post. :rolleyes:

Autochange

Comhra wrote: »

And here we have yet another smartass keyboard warrior trying and succeeding at making a useless, stupid post. :rolleyes:

How do you figure a keyboard warrior mate? The op has been to multiple places and been given prices which he isnt happy with as he thinks its worth more. Iv laid out what i see are is possible choices for a resolution.

Whats your contribution to the thread aside from downing my post?

Comhrá

I had nothing to contribute so I refrained from posting stupid unhelpful comments. Maybe you should do likewise. Your comments to the op were condescending and unhelpful. That's all.

Autochange

Comhra wrote: »

I had nothing to contribute so I refrained from posting stupid unhelpful comments. Maybe you should do likewise. Your comments to the op were condescending and unhelpful. That's all.

f you have no contribution perhaps stop clogging up the thread attacking other posts. Take my post as you will but it is meant to point out the facts in a straight manner to the op. No sugar coating.

Comhrá

burn it for the insurance or keep driving it

You're advising him to commit a criminal offence there. Says it all about you really.

dbagman

Autochange wrote:

burn it for the insurance or keep driving it.

Are you suggesting I engage in insurance fraud? Hardly a constructive suggestion or solution.

dbagman

Comhra wrote:

You're advising him to commit a criminal offence there. Says it all about you really.

Ha. Snap

Autochange

dbagman wrote: »

Are you suggesting I engage in insurance fraud? Hardly a constructive suggestion or solution.

Yes burn it out and throw the keys into the river.

_Brian

If you feel it's worth that much more than the trades your being offered then get onto donedeal and sell it private.

jsd1004

dbagman wrote: »

passed its last test only last feb or march. is out again but will fly it. it literally needs nothing. a service and clean it out. that shouldnt run much more than 200 quid. going on some of the vehicles this guy had in stock, and indeed the one i went to look at too, touching up bodywork isnt something they concern themselves with. as far as i can gather its pure greed. he has similar yolks for sale so its not like he doesnt deal in jeeps.

Pure greed? Look inwards. Your jeep is worth what someone else is willing to pay for it. He is willing to pay xk..you are either happy or not. If not you sell it yourself to the person who is willing to pay what you think it is worth. IMHO a 2008 commercial is worth around that. ie 6k. I still would not buy it off you for that if you offered it to me tomorrow. An ebay auction or Merlins will get you an exact value of what a 2008 commercial is worth.

Cee-Jay-Cee

I think the simple fact of the matter is that the dealer doesn't want your jeep and so made a very poor offer. You says he had an older jeep in his yard and may have had it for quite some time and doesn't want another. The low ball offer is a two way plan for the dealer, (1) you take the deal and he gets a cheap vehicle which he can move on for a quick profit (2) you don't take the deal and ge doesn't have a jeep on his lot that he doesn't want to have to try and sell or move on.

You now have 3 options:

1. Go elsewhere and get other trade in values.
2. Sell privately and buy the car you want in a straight deal.
3. Take the hit and get the car you want now and hassle free.