Whats It Worth?

[Theo]

Is somebody joking???

I recently decided to part exchange my 6 month old Prius T4 with 2,000 miles on the clock for another car. The dealer (name withheld but email me if you really want to know) after much time on the telephone to Toyota dealerships came back to me and said the £18k plus that I paid for the car was now only worth £12,250 on a trade in. Comments please.

[Bibbs]

Sounds about right for a *very* specific new car.

[Demonic Angel]

This is what Parkers say:

Cost New ('05) £ 18327

Franchised Dealer £ 17290

Independent Dealer £ 16055

Private Good £ 14200

Private Poor £ 11115

Part Exchange £ 12720

However, thats with a 10,000 mile average, so you could add a bit more on the price for the extra 8k miles you havent done, but yeah, seems about right mate, sorry!

Try selling privately, you'll get a much healthier figure than part-exing!

[SMW]

Well depends how you look at it, sounds fair to me - maybe a bit more if they are generous and are making a lot on you buying the new car from them.

Don't forget the dealer has got to valet it and offer a warranty.

Then they have got to allow for the depreciation of the car whilst they have it but it's not sold, then there's the value of the cash tied up in the car which could be earning interest.

Finally they have got to be able to sell it competitively otherwise there won't be much between the price of your used car and a brand new one. Oh and they have got to make a profit.

Question is why change so soon - you have taken the max deprecation at this point - surely wait a little longer ?

[Red Yaris 54]

You have I am sorry to say come up against the worst thing about buying a new car.............heavy depreciation in the first few months

I would think that most Prius owners would expect to own their cars for the long term (3 to 4 years minimum), thereby softening the depreciation hit.

As said above....why sell so soon? and what were you considering replacing it with?

If the answer is a much cheaper car you cannot honestly expect much more than you have been offered.

That is a sad fact of life.

[Braindead]

How odd

Folks are still having to wait for them.

Assuming the 3 year (8 year on hybrid drive) warranty is transferable then I would have expected someone to have your hand off for £15k.

Go private!

BTW, why do you want rid?

[PaulT]

Bear in mind that dealers don't many much on selling a new car. Most of the business comes from servicing and recycling trade-ins, hence the gap between dealer resale value and trade-in value.

If you like to keep cars for short period and then change it is probably more cost effective to go with a personal leasing plan than buying new.

On the up side, there are used bargains to be had.

Paul.

[Fidgits]

never, ever take a dealers first trade in offer...

treat it as part of the car buying negotiation.. if your not happy, walk away!

[Karma Supra]

I am still curious as to why you want rid of it so soon????

[earpl]

18K!!!!! :omg:

[doutfire]

Is somebody joking???

I recently decided to part exchange my 6 month old Prius T4 with 2,000 miles on the clock for another car. The dealer (name withheld but email me if you really want to know) after much time on the telephone to Toyota dealerships came back to me and said the £18k plus that I paid for the car was now only worth £12,250 on a trade in. Comments please.

[Theo]

Thanks guys for all your comments. I know it sounded strange to sell after such a short while but my wife and I recently decided to leave "Blairs Britain" and head off to sunny Spain. After posting this note on the forum I went back to the original dealer who offered me £14,000, again on a part exchange.

Answer then is to sell privately .................. cheers! B)

[Tawse57]

So how does Toyota Approved in Wales justify asking prices of one T Spirit for £18,850 and one for £20,850???? (Newport and Cardiff). One has 2,000 miles, the other 3,000 miles.

This, IMPO, is Toyota keeping Prius prices artificially high... unless you are looking to get rid of one???

[jay dh]

i think a 14k offer isnt bad, see if you can get 14.500 and i would probably take it, private you probably wont get much more than 15k but you have the hassle

what also didnt help is that you didnt receive much of a discount when you bought the car new, that would have helped, but live and learn.

[Mike Nelson]

Remember when you drive off the forecourt you loose 20% immediately due to the Tax Man.. VAT must be paid on the purchase price of a new or used car through a dealer but they are not allowed to pay it to you when you buy it back unless you are VAT registered.rememebr of your 18,000 almost £2700 is VAT with another 500 or so for delivery. so the true value of your £18,000 car is only £ 14,800.

try and sell privately if you can rather than trade in as you get more cash for your car and often get better discounts when hagggling as a cash (no PX buyer)