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Trade in Value

  • 13-09-2021 5:33pm
    #1
    Registered Users Posts: 3,506 ✭✭✭ Interslice


    Good evening folks.

    How much of your cars value would you expect to get from a trade in? All searching seems to value the car currently at 20000. The main dealer is only offering 17500.

    I always thought you would get the same as market value or even a bit more. Maybe this only applies to cars in the bangernomics end of the market? We got 2500 for the 800 euro golf to buy this car originally, for example.



Answers

  • Registered Users Posts: 2,978 ✭✭✭ User1998


    That artificially high trade in value only applies to cheap cars where dealers pretend they are offering you big money for your trade in but are actually just giving you a discount from the price that you would have gotten anyway without a trade in.

    Trade in values are meaningless. The amount of cash you are spending is the only important figure. (Cost to change)

    If you are buying an over priced car you will probably get a better trade in value. If the car you are buying is priced well your trade in value won’t be as high.

    Generally the trade in value will be lower than what you would get selling privately, but again, Cost to change is the only important figure



  • Registered Users Posts: 1,283 ✭✭✭ millington


    Some dealers work off an artificial trade in price for their car which is inflated to make it look like you're getting more for yours.


    Trade in value should be exactly as it sounds. The "trade" price for the car which is the retail price, in your case 20k, less the margin needed by dealer. 17500 sounds about right for a 20k car, if not less.



  • Registered Users Posts: 7,802 ✭✭✭ dinneenp


    A dealer will always offer you less that market value/what you'd get privately. Otherwise they wouldn't be making a profit on it.



  • Registered Users Posts: 1,638 ✭✭✭ omri


    I've been getting low ball and not so low ball offers from dealers for trading in my current car. The difference between lower and higher offer was 5k, so depending on the value of the car you want to buy they might move on price a bit. Also I would play cat n mouse with them saying that some other dealer offered you a bit more and see what they could offer.

    Put your car for sale on donedeal and see what happens. You might get close to what dealer would be selling your car for, who knows...



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  • Registered Users Posts: 5,365 ✭✭✭ jmreire


    A straight cash deal for your new car, is the best deal there is... When you trade in, the dealer has to wait until he sells your trade in, before he can count his profit..and that factor's in a 3 (or more) mth warranty.. So Cash is king. But the majority of people don't want the hassle of selling their own car privately, so take the trade in option. And that's basically accepting the best deal you can negotiate. But do not use the forecourt listed prices as a marker for your own....thats the dealership price including profit margin, and warranty.



  • Registered Users Posts: 12,606 ✭✭✭✭ R.O.R


    While that would usually be the case, it's not at the moment. Selling a new car, without something being traded in, leaves a hole on the forecourt that's very difficult to fill from elsewhere at the moment. Dealers are crying out for stock, and most I've spoken to would prefer someone trading in something they can then retail themselves.



  • Registered Users Posts: 5,365 ✭✭✭ jmreire


    Yes, you are right! Its a practically an un-heard of state of affairs. Where trade-ins are actually increasing in value. The car I bought in August 2020, has not lost its value, as you would normally expect. I guess that this is due in part because production of new cars has slowed down immensly, ( lack of chips + lack of assembly parts-supply chain issues re covid) etc. so people are having to delay trading / purchasing?



  • Registered Users Posts: 50,125 ✭✭✭✭ bazz26


    Someone would want to tell a few big dealers in Dublin so as they are still trying to offer lowball trade-in values when I enquired about a few cars recently. Close to 8k difference between what they were offering me for my car compared to what they were asking for a similar car on their forecourt.



  • Registered Users Posts: 7,802 ✭✭✭ dinneenp


    They'll service it, valet it, add new tyres, brake pads etc. if needed. Also have to pay salary to the employees, other expenses etc. & normally give a small warranty & want to make a profit so you can understand being more expensive but shouldn't be anything crazy.



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  • Registered Users Posts: 50,125 ✭✭✭✭ bazz26


    My car was serviced a month beforehand via the service pack at a main dealer that came with it so it didn't need anything done. I also put a fresh NCT on it back in July so nothing there either. The tyres still have about 5mm left on them, the only thing it might have needed were the alloy wheels refurbed because of a small bit of white worm but I've seen alot worse for sale on their forecourts. The cost of a warranty I can understand a bit and I've no problem with them making a profit on the car (that's why they are there) but if these big glass palaces need to buy a car at 8k less than what they ask for it then they have lost the run of themselves. Some of them want to buy from you at pre brexit prices but sell to you at post brexit prices.



  • Registered Users Posts: 12,606 ✭✭✭✭ R.O.R


    Sellers market at the moment. They mustn't have fancied your trade in much, or decided it was probably going to hang around for a while (costing money) before it sold.

    At the moment, it's a case of "if you don't buy it, someone else will" on the dealers terms, rather than the buyers terms. It's not going to last, so hay is being made while the sun shines.



  • Registered Users Posts: 50,125 ✭✭✭✭ bazz26


    It's a 4 year BMW 430d GC which I know the market isn't huge in Ireland especially these days but funnily enough the car they had similar to mine for 8k more is now gone and the 128ti I was interested in buying which doesn't exactly have a huge market either, is still on their forecourt at the same asking price 2 months later. Anyway I couldn't be bothered trying to figure out some of these dealers logic, not worth the effort. There is no value out there at present.



  • Registered Users Posts: 3,506 ✭✭✭ Interslice


    Was happy enough with the trade in price in the end. Thanks for the pointers. The car had a 2.5k major service last week. The one i'm trading in is due a service in a few months and the tyres are almost on the limit markers so probably a 3k swing in that sense.

    Happy with the car. I've only ever bought privately before so it's nice to be driving something with a years warranty and breakdown. Another thing I hadn't factored into the price until mentioned above.



  • Registered Users Posts: 2,471 ✭✭✭ Casati


    Your dead right to away from that deal - would you consider getting another garage to sell your car for you on commission? Seems to becoming a win win for buyer and garages doing it - they get commission quickly and potential finance commission, you get more than you would via privately



  • Registered Users Posts: 50,125 ✭✭✭✭ bazz26


    I'm just not bothered at the moment to be honest. There is just no value out there and I'd still end up paying over the odds for another car.



  • Registered Users Posts: 2,471 ✭✭✭ Casati


    Fair enough - your 430d is a car that you could easily regret selling, such a pity that beaut of an engine will be gone from our roads



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