Part Ex / What Your Iq Is Worth...

July 20, 2012

Just thought I would give a heads up as to the value of our much loved IQ's. Not as good as you may think...

I was amazed to get some multiple book prices from main dealers, local dealers and local trades - all hitting pretty much the same mark. I am looking to upsize with no urgency but thought I would see what's available.

I have a 2009 58 plate IQ2 in Black, great condition and low mileage - Parkers and other sites value the car around the £5k mark. Having gone to various outlets for valuations the most they are offering is £4500. A friend of mine today who is an established sales manager phoned a trader in front of me and was offered 4250 max. I bought the car for nigh on £8k 18 months ago!

Apparently there are loads of IQ's in the market, and they are losing value (lost £150 last month alone on Glasses guide).

So, not so good for me on the part ex but then again I have an early IQ so maybe that's the reason?

Any of you have any part ex prices / deals or planning to?

July 21, 2012

That's why I would try to sell private. Would still get 6-7k. Dealers are my worse nightmare. Use them for warranty repairs and that's it. We had a VW Polo 2009, immaculate as I used to be a detailer, bought in 2010 for 8.5k and dealer price last year was 4.7k. Unbelievable.

This is obviously how dealers make part exchange there top priority as there devalving your pride and joy a few thousand cheaper than selling it private.

I never try to worry about what my current car is worth. You bought it for a reason and are enjoying it to the maximum. I think paperwork is more important when part exchanging these days as I went in with a fully stamped book and receipts off everything down to sidelight bulbs and got offered a fraction more than book price. I remembering them commenting on how OCD I was on keeping things with the car :)

July 21, 2012

http://www.autotrader.co.uk

Best idea of Asking prices for any area, no guarantee what people are getting for them,

or even if they are actually selling or how much they sell for.

Glass Giude, Blue Book, Parkers are no guide to the real world car prices, other than you should at least always be able to get bottom book, and if more, then good.

If not then do not sell, untill you can get what you can afford to sell for or pay more to buy something else.

The market changes and it certainly changes or drops more once a car goes out of Manufacturers Warranty.

Be that 3 years or 5 years or whatever.

Dealers are now 'asking' £6000 and less for 59 plate iq2's & less than £8000 for 2010's

(under £5000 on iQ's)

That is their 'asking prices', so much cheaper than that can be had,

and lots less at auction or within the Trade.

'Askng Prices' are just a wish on a sellers part IME.

They know what they need to sell for and sometimes you can buy at that price.

(or you are left thinking you got a good deal and bargain, only time tells if you did)

Private sales can be more bother than they are worth when you are buying unless you can be very sure & cash is King.

The Country is swimming in second hand cars & bargains, (& finance offers)

the only true value of a car is what you can sell it for and since you are only selling it once, you only need one buyer.

If a Dealer offers lots against something else, they probably are selling something that they want rid of & they must know what they can get for yours.

I use to Trade in Cars,

but my own personal cars are bought and kept and stay with family members.

Good cars are for life with me not for depreciation and paying for someone else to drive a nice car.

Everything is for sale tho if the price is right and a bargain can replace it!!

george

July 21, 2012

Here in the whole of Portugal there are only four used iQ's for sale two are 2009 manual models, one is petrol and will set you back £9200 and a 2009 Diesel £10800 a 2011 iQ2 diesel is available at £13500. The iQ is still rare here because of the high initial purchase price and the Multidrive is very rare because it costs a £1000 more than the manual. Diesel engined cars outnumber petrol and command a higher price because diesel is 16p per litre cheaper than petrol. I live in central Portugal and have only ever seen one other iQ and that had a Spanish plate.

July 21, 2012

If you bought the car from a dealer 18mths ago it probably had a trade value of £6500, now if your offered £4500 its lost £2000 in 18mths which is fair. It had a retail value of £8000 when you bought it so trading it in gives a double whammy of dealer margin and depreciation combined.

Sell it private if you can for £5500-£6000. PX'ing is easy but a very expensive way to swap cars.

July 21, 2012

There is an iQ probably 2, 59 plate on the forecourt of an ordinary dealer 200 yds from my main dealer. It is up for £6995 not leather no fog lights standard radio. mine was £8300 with fogs and sat nav 13 months ago .. just some comparison for info

July 21, 2012

If it hasnt got foglights it will be a basic IQ, not an IQ2.

I have thought about selling mine as im getting a job needs car next week which i can use for social purposes as well but as its so cheap for me to run/keep, I may keep it for fun/save up to supercharge it..!!

I dont have finance on mine so whatever I get for it would be all mine but I do worry what I would get for it as its a 2009 (58 plate) with 34k but full dealer history. Plus I just took out a 3 year monthly service plan in February as I didnt know I would be getting a promotion with car included in the package. I guess I would pay off the balance of the service plan and include it with the car for the new buyer, hopefully would get people interested in it! Plus I would have to find someone who would be willing to buy a modified IQ although nearly everything I have done to it is reversible, except the exhaust.

If I HAD to put it up for sale tomorrow, I would put it up for around 6.5k / 7k as it includes the next 3 years services, has no finance on it, has the full service history and hopefully someone would like the modifications I have done to it! Although would be open to offers.

PS I hate it when you see the early IQs being advertised by non toyota dealers saying they are exempt from congestion charge when they arent, only the new ones with 5 star ratings are. The early ones are 4 star rated so need to pay CC! Drives me mad lol

September 6, 2012

Thought I would share my trade in offer- my IQ2 was built in December 2010 so 18 months old. It has the new interior with Black Leather , parking sensor and I think one of the packs as it has scuff plates and chrome side protectors. When the car was bought new (not by me) it was £14k. I bought it for £10.5k when it was 8 months old - it has now just covered 11,000 miles and is mint.

Looked to part ex against an Urban Cruiser and the dealer offered me £7k part ex! Needless to say will be keeping the car.

September 6, 2012

Trading in a car never gets you the value for your car, best to sell privately then go shopping with cash in hand.

Fish

September 7, 2012

When I went in to trade mine after finance the other day, they offered 5100 (I can buy it for 4864 if I wanted) and that was after haggling.... 59 plate IQ1 with 12700 miles on the clock, purchase price was 9840.

September 11, 2012

As my insurance will be due soon I went onto the site the meerkat works for, and after putting in the reg. number they come up with an "industry standard " quote of what they think your car is worth, before you start going through the application process.

Mine was about £7700 which is a depreciation of about £4000 in 13 months.

John

September 15, 2012

Ive been to dealers since who have offered me no more than £4500. This is for a 58 plat 09 IQ2 in good condition. It drops like a stone each time. I cant afford the loss or to change it so keeping it for another year.