New Car - better trade-in pricing and/or discount on list price?

loco_scolo

Trying to weight up my options for a new car purchase versus a 1 or 2 year old purchase.

For the car I want, I'm finding that the effective cost per year to move up (from a 181) to a 221/231 is actually more expensive than moving up to a 241/242. And now I figure that I may as well get a 251, since the extra cost of a new car (versus a 241) isn't unrealistic.

When you factor in the possibility of getting cheaper finance with a 251, then I think I'm better off going that route.

What I really want to know is if you get better trade-in value when buying a new car, and if you get any discount versus the list price shown on "Car configurator".

Thanks for any advice.

carsfan2

What car do you intend to buy?

a lot of the factors you mentioned depends on the car you are buying.

loco_scolo

https://www.boards.ie/discussion/comment/123302908#Comment_123302908

Plan is a Skoda Karoq, not a basic spec, but unlikely the full Sportline spec. Petrol automatic.

Trade-in would be a 181 Octavia Estate, 1.4 petrol automatic, good spec, very good condition and only 95000 km mileage.

Not looking for anyone's view on actual amounts, to be clear. Just an overall sense of how much bargaining power you have when buying brand new versus used. (Also, feel free to speculate on amounts if you want 😅)

carsfan2

Think I would go new and get the exact car I want if I was you. The karoq will hold its value well over the long term and you will probably be able to get some degree of discount either through the dealer inflating the value of your car or reducing the list price.

kirving

It's a difficult call, the Karoq would be popular, and some of the reason for the high second hand prices is:

1. availablity
2. people pay it
3. people don't want to wait,
4. the dealer can drop the price a good bit to make people think think they're getting a better deal
5. maybe not an issue in Ireland, but secondhand finance providers (ie: not VW Financial Services) are more likely to take on someone with a lower credit rating.

Personally, I would go new unless the difference was big enough. Negotiate on the second hand model first to see where you really stand.

cute geoge

I am only guessing but it is value if you can trade up in like for like basis of 3k/ annum

Today I heard ad for electric karoq 500km range starting at 36k . So if you got possible 11k for your trade in ,for 25k you could not go wrong

loco_scolo

https://www.boards.ie/discussion/comment/123308030#Comment_123308030

https://www.boards.ie/discussion/comment/123307945#Comment_123307945

Thanks for the advice and tips. It's a difficult choice. I want an automatic and would rather not going for a basic spec, so ultimately the price hits mid 40s very quickly. It's more like 5000 - 5500k /annum to trade up.

Car costs have inflated so much it's crazy, while you get completely shafted on trade-in value. Has it always been this bad!!?!

Anyway, I'll talk to some dealers and see what they offer.

cute geoge

All electric cars are automatic they are worth checkung out at least

loco_scolo

https://www.boards.ie/discussion/comment/123308375#Comment_123308375

Maybe this is where I'm going wrong, but I haven't a notion of going electric. Petrol automatic please 😅

User1998

https://www.boards.ie/discussion/comment/123308543#Comment_123308543

Not even hybrid? Your limiting yourself quite a bit with petrol only

loco_scolo

https://www.boards.ie/discussion/comment/123308550#Comment_123308550

Ah yeah I'd consider hybrid to be fair. Still a little unconvinced and think residual value will hold up stronger in a traditional engine.

In terms of full electric, I live in a terraced red brick in the city and my front door opens directly onto the public path, so going full electric is not practical.

User1998

https://www.boards.ie/discussion/comment/123308566#Comment_123308566

You should definitely consider a hybrid. Especially living in the city. Hybrids have been around for 20 years now. No issues with residual values. Nicer to drive, lower running costs etc.

EV’s lost a lot of value due to manufacturers cutting the price of new cars. But regular hybrids, and even plug in hybrids are holding fine. Even EV’s are holding more value now, as long as you bought after the price cuts.