Selling car back to dealership

skodacb

I'm just wondering has anyone else done this.

I bought a brand new car last year on finance, HP it must be noted.

I haven't missed any payments either, however due to personal circumstances it's become very hard to justify forking out €460/month, it's not impossible, but I can do much more with that in my pocket than it going to finance.

bazz26

First thing you need to do is get a settlement figure from your HP finance company or bank. If you are on a fixed interest rate then you might be hit with a penalty for exiting early from the term. Depends really on the terms of the HP agreement.

Most dealers are looking for stock due to low numbers of secondhand cars out there so if it's a popular car then they would certainly be interested in buying it. Prices of used cars are high so if you don't need a car then it could be a good time to sell it. How much you get offered for it will vary though as some dealers may try to lowball you so contact a good number of dealers and see who offers the most for it, play them against each other if needed. Don't forget you will have to mention to any dealer that the car is on finance (they will probably ask and check anyway). Dealers deal with most finance companies or banks so if they buy it they can pay off the loan on your behalf and write you a cheque for the balance if the car is worth more than the loan amount.

brokenangel

https://www.boards.ie/discussion/2058246980/selling-car-back-to-dealership

The garages are desperate for good second hand cars so they will buy off you. Don't tell them you are desperate as they will totally screw you. Expect to not get a great deal anyway, the garage will be probably able to sell to close what you paid for it last year

skodacb

Yeah, got it all sorted in the end. Sold the car for €26,000. I was looking for €27k, they were thinking €25k so met in the middle. It's up now for a fiver short of €30k and was bought for €32k.

I did look at selling online to "we buy" places.

would never touch one again, One particular garage in Dublin on the Long Mile Road offering €22 - €23k...In the words of Father Liam " Cowboys Ted, they're a bunch of cowboys"

brokenangel

https://www.boards.ie/discussion/comment/119129650#Comment_119129650

I done that before, place was in Cork. I think supplying one of the dealers in the area. Got a decent offer which I used to negotiate with the garage so it depends

yer man!

Out of interest, did you sell the car to the dealer you got it from? Just wondering if you're generally better off selling to a dealer that carries that particular brand?

bazz26

Sell it to the dealer who offers you the most for it.

Lantus

That's pretty good and 4k sounds about right for the dealer to make a profit and pay the bills, wages and overheads etc.