Mine's Worth How Little?!

[Habu]

Popped along to Honda today to see whether I could fit into a CRZ GT as the glass roof lowers the roof headlining a little. Mmmm, slightly tight but not too bad. Anyways, decided to see how much my November 2010 T Spirit with 19k on the clock was worth as a trade in - just out of interest as I like the look of the car and it is quite sporty to drive. £15.5k!!! Does this sound right to anyone here as it does seem a lot lower than I was thinking / hoping.

Having spoken to guys on the CRZ forum it appears that getting 50mpg is a bit of a holy grail to them. What!!! I get 60+ in my Prius without trying and over 70 if I'm being really steady, i.e. 65-70mph on the motorway. Oh well, back to my lovely Prius with zero tax and 92g/km of CO2. The CRZ, out of interest, is £30 tax and 117g/km of CO2. :)

[Grumpy Cabbie]

£15,500? Hmmm I might be interested lol

[blue verso 56]

Its the same old story if you trade in against another make of car (Toyota for a Honda) or (Honda for a Toyota) you always get a knock back in part exchange price ! as a guide if you look at what dealers are selling your model of car for with similar mileage and knock £2000 off the price they are asking that is what to expect on a trade in

[dwilson]

Its the same old story if you trade in against another make of car (Toyota for a Honda) or (Honda for a Toyota) you always get a knock back in part exchange price ! as a guide if you look at what dealers are selling your model of car for with similar mileage and knock £2000 off the price they are asking that is what to expect on a trade in

Agreed - they added £2000 on to my trade in when they put it up for sale - to be honest I was surprised it was that much!

David

[Parts-King]

Turn this story on its head, would you pay the screen price for a new car? No, you would want some sort of a discount or something free. Well, you turned up at a Honda dealer, didnt like the car you tried and then asked what it would be worth, just like you buying a new car, you will have your opening and closing price, a dealer is no different, why on earth would he go in with his best price? He needs room to negotiate with you. As for the screen price, there are no hard and fast rules, but people have no idea how much it costs to run a dealership. Your dealer gives you 15K for your P/EX and puts it on the forecourt at 17K, everyday it sits there it costs money, the stocking interest is charged daily, every full month in stock the value drops in the guide, he sells the car and has to have it prepared, cleaned, serviced, maybe warranted. He also has to negotiate with the next buyer, who has a car to P/EX and who also does not want to pay the screen price. All in all your dealer will want to make as much as possible, of course he does, he is in business to do that, prices can always be reduced, they rarely go up

Kingo

[Habu]

Its the same old story if you trade in against another make of car (Toyota for a Honda) or (Honda for a Toyota) you always get a knock back in part exchange price ! as a guide if you look at what dealers are selling your model of car for with similar mileage and knock £2000 off the price they are asking that is what to expect on a trade in

Agreed - they added £2000 on to my trade in when they put it up for sale - to be honest I was surprised it was that much!

David

£2000 is about right I reckon to mark the car up as, like Parts-King said the next buyer of your car will want something knocking off plus some mats throwing in and the warranty topping up. The Centre will need to make something out of it to pay their bills. However, I think being offered £15.5k for mine seems a bit too aggressive as the car is possibly worth £19k on the forecourt.

Edit: I've been to another Honda dealer who's bumped the trade in to £16k for my Prius plus knocked a £1k off the new car's list price. I could be tempted, especially with 0% APR but it's the much lower economy that worries me a tad as I'm a big mile muncher.

[Parts-King]

: I've been to another Honda dealer who's bumped the trade in to £16k for my Prius plus knocked a £1k off the new car's list price. I could be tempted, especially with 0% APR but it's the much lower economy that worries me a tad as I'm a big mile muncher.

You see, your not even in the showroom and prices are moving, it's life! If the car is what you want go and do some homework, then go in the showroom with the best deal you can find, then start negotiations. It's a buyers market, if it's not the deal for you, walk away and find somewhere that does a better deal

Just remember tho that used cars have far more margin in them than new cars, so there comes a point where the dealer will say no, cant do it

Kingo

[dwilson]

Its the same old story if you trade in against another make of car (Toyota for a Honda) or (Honda for a Toyota) you always get a knock back in part exchange price ! as a guide if you look at what dealers are selling your model of car for with similar mileage and knock £2000 off the price they are asking that is what to expect on a trade in

Agreed - they added £2000 on to my trade in when they put it up for sale - to be honest I was surprised it was that much!

David

£2000 is about right I reckon to mark the car up as, like Parts-King said the next buyer of your car will want something knocking off plus some mats throwing in and the warranty topping up. The Centre will need to make something out of it to pay their bills. However, I think being offered £15.5k for mine seems a bit too aggressive as the car is possibly worth £19k on the forecourt.

Edit: I've been to another Honda dealer who's bumped the trade in to £16k for my Prius plus knocked a £1k off the new car's list price. I could be tempted, especially with 0% APR but it's the much lower economy that worries me a tad as I'm a big mile muncher.

Well I was happy enough with the deal but when I saw the extra £2000, I did wonder if I had been a mug

You may like to try

link

this to get a value on our car?

David

[Grumpy Cabbie]

Oh bo**ox. Just seen how much mine goes for on that Glass's guide. A load of c**k as there are gen3's going to £12k with 100+k miles on them.

I fear I might have to wait a few more months and then hand the old girl back under HP. :)

[Parts-King]

The thing that matters is the cost to change, people get too hung up on what the P/EX price is. If you got the deal you wanted and were happy, then that's all that matters, your dealer MUST make a profit on your P/EX otherwise he won't be there next year when you need him

Kingo

[dwilson]

The thing that matters is the cost to change, people get too hung up on what the P/EX price is. If you got the deal you wanted and were happy, then that's all that matters, your dealer MUST make a profit on your P/EX otherwise he won't be there next year when you need him

Kingo

Yes that is very true.

David

[blue verso 56]

I think £2000 is a fair amount when you consider the cost of Valeting ,putting a warranty if over 3 years old onto the car ,replacing any parts to bring it up to standard also the cost of keeping money tied up on the forecourt in stock and costs of running the showrooms

[Glyyde]

according to Glass, my car is worth 15.5k. October 09 with 16k miles.

When I traded in my Aygo for a Jazz, initially quoted for 3.5k (2.5 years aygo blue with onlt 4k miles), then I managed to get him to recalculate to 5.5k (think he got the version wrong?). Just by saying Toyota is giving me 6k they matched that :D

[pobrown]

When I traded in my 2005 Lexus a few weeks ago to get my Auris, I got £6500 p/x which was the best I could get after shopping around many dealers. The car went on the forecourt at £9000 and sold for £8600 within a week. This markup is quite large, but considering they had to valet the car, change a couple of tyres and give 12 months warranty I can see the reasons for it.

You do have to play the game though. When I was negotiating on the Auris, I had the sales manager saying that £x to change was absolutely the lowest they could go (after coming down from £600 above that). I walked away telling them that it needed to be £400 less, with the manager saying it was impossible to do that price. 48 hours later they phoned me and said they could do the £400 discount and the deal was done.

Always walk away - it is a buyers market and there are plenty of cars out there to be bought.

If you are looking at new, look at www.drivethedeal.com - they can have good prices for new cars and it gives a good indications of what discounts are available. I've used the site myself a couple of times to get the ball rolling.

[blue verso 56]

Perhaps parts king could confirm this but it always used to be the case dealers got a volume bonus on cars sold and sometimes when a dealer needed a few more sales to reach this figure selling a car at a loss could make financial sense as the extra amount of money gained in volume bonus over the quarter sales target period per vehicle would mean increased profits overall hence the theory of going to the dealers at the end of there sales quarter as they may just be wanting a few more units sold

[Grumpy Cabbie]

I think that's correct but you've got to time it right - and I think that's the card they hold closest.