Residuals

[Batfink]

In a moment of weakness, yesterday, I was tempted to trade my Aygo in. (I'm really sorry....)

Anyway - having been given all the patter about how well the toyota holds its value I was rather shocked to say the least. I paid £8,250 in January for a 3dr Platinum with A/C, and since then its gained just 4000 miles.

And how much was I offered..... £5000.

Now, I know they loose the most value the first time you drive off, but I thought that was pretty dire!

x

[SJandMR2]

Hi I had the same moment of weakness a couple of weekends ago and I have a 07 3dr blue with 17k on the click and I paid 8k for with style pack etc and I offered £6,500 for it. Which I thought was alright! Maybe you need to shop around a bit.

SJx

p.s. what was you going to trade it in for?

[Batfink]

Hi SJ,

Maybe the dealer was just trying to rip me off.....they never gave me the APR on the finance they were offering (which I didn't even want) but when I got home I worked out its was 14%!

p.s. what was you going to trade it in for?

I fancied a Fiat 500. I'm so ashamed. :(

x

[SJandMR2]

Hi SJ,

Maybe the dealer was just trying to rip me off.....they never gave me the APR on the finance they were offering (which I didn't even want) but when I got home I worked out its was 14%!

That might be possible! I am sure there is a website you can use to check new and used prices but I cant find it. Will keep looking and post if I do.

I fancied a Fiat 500. I'm so ashamed. :(

x

So You should be!! least I was test driving an MR2 :P

SJx

[TheNissanMan]

Depending on the dealer they will usual try to keep 1k to 1.5k accross their new cars, maybe more at Toyota, when you buy your car for 8k the dealer needs his profit so 7k value, any servicing/warranty/valeting costs so 6.6, 6.7k, to buy that car back they will want to make a profit so a car they buy for 5k would be on the forecourt for 6495/6995...

Although dealers may try to help at the end of the day we also have to make money as well or we wont have a job!!!

As for APR's I'ld forget them, ask for the flat rate, it's easier to work out what's what and the APR can vary a couple of percent down to where the charges come into play ie admin charge etc...

[Zaaro]

exactly, dealers always under value your car by quite alot otherwise they will struggle to make a profit themselves. Best thing to do is sell privately.

[weevicky]

Hey! Bit of advice. I wouldn not trade in the car...

Not becasue I don't want you to sell it, but becasue the dealer will offer you alot less than it is worth so they can make profit.

Try selling it within the paper "ad trader" "motor market weekly", or Pistonheads. You will get a good value here

[T600]

Or upgrade your membership and sell it on here.

We seem to get a lot of new users who are about to buy Aygos and a price somewhere between what the dealer would take, and what they'd put it on the forecourt at wouldn't be such a bad result for either the buyer or the seller.

[flumpsfriend]

Try this website to see how much your car is actually worth - this is what dealers will use as a guide

http://www.parkers.co.uk/cars/prices/

[TheNissanMan]

Dealers do not undervalue your car, a car has a trade value and a retail value...

For Nissan's I will always offer our trade value and for anything else I will get vehicles underwritten and offer the customer the value I've been give,. it's not in the interest for a dealer to rip off a customer as they don;t leave feeling that they have got good value for money.

You will get more selling privately but when you buy privately you don't get any of the reassurances that you would get buying from a main dealer...

[Batfink]

Dealers do not undervalue your car, a car has a trade value and a retail value...

I'm sorry, but I don't believe that is true. I'm sure you, and many other dealers, are perfectly honest - but there is also plenty that will try it on.

In my case, for instance, as soon as I got up to leave the part exchange offer went up by £400......that's not a coincidence.

I've had a look on Parkers, thanks flumpsfriend, and it said my part exchange price should be just under £6,500 - seems quite high, I think I'd have gone for £6 if it'd been offered.

Thanks for the advice everyone.

x

[TheNissanMan]

Parkers and Glasses are guides only and tend to be about 6 weeks out of date!!#

The price of your car will normally vary in how much play a Sales Manager has across the car your buying, your car will be worth it's trade value which will not change, the most important thing to a customer should be Balance to Change, unfortunately some customers can not see past what they are being paid for their car. I have had an instance in the past where a gent bought a year older car with higher miles on it for the same copst to change because they offered him a higher value for his car!!! I wasn't happy with the saleman in that example :)

[cabcurtains]

Hi SJ,

Maybe the dealer was just trying to rip me off.....they never gave me the APR on the finance they were offering (which I didn't even want) but when I got home I worked out its was 14%!

p.s. what was you going to trade it in for?

I fancied a Fiat 500. I'm so ashamed. :(

x

Fiat 500's currently are regarded as a licence to print money for FIAT and their dealers wont want to do "deals" on them quite yet. Thats probably why the PX price was poor, some people will be buying them at any cost as their considered a "current" fashion item car, like the Beetle was when it first appeared and the Mini. The price premium wont last to long on them as FIAT isnt a premium brand, if you really want one hold on for a while.

[Zaaro]

Dealers do not undervalue your car, a car has a trade value and a retail value...

For Nissan's I will always offer our trade value and for anything else I will get vehicles underwritten and offer the customer the value I've been give,. it's not in the interest for a dealer to rip off a customer as they don;t leave feeling that they have got good value for money.

You will get more selling privately but when you buy privately you don't get any of the reassurances that you would get buying from a main dealer...

When I say under value I mean the customer would receive a higher amount by selling privately.

Fully understand garages have to offer much less since they have to make a profit, especially since most garages will take a car traded in without even really having a good look at it so i guess the price given has to also cover for anything potential wrong (more than often on the older cars)

I personally would never trade my car or any future cars in. I think alot of people mainly do it for the convenience factor.

[TheNissanMan]

...since most garages will take a car traded in without even really having a good look at it...

Ouch garages still get away with that, my guys get a rollicking if an appraisal form isn't completed fully down to spare keys and history and the px is driven, but then I'm a sod to work for :)

[+Steve]

dealer makes more once though per vehicle.

* he buys it on a px for 10k (cars worth 13K on forecourt)

* You come along and ask for a trade in price for your car at 5k (worth 7000 on his forecourt)

* you buy his px he bought previously and trade in yours.. he then has 5k to play with.. cheap service and MOT its wacked out on forecourt waiting for another PX

made 4k from 2 clients or more if he gets another PX and so on...

[cabcurtains]

dealer makes more once though per vehicle.

* he buys it on a px for 10k (cars worth 13K on forecourt)

* You come along and ask for a trade in price for your car at 5k (worth 7000 on his forecourt)

* you buy his px he bought previously and trade in yours.. he then has 5k to play with.. cheap service and MOT its wacked out on forecourt waiting for another PX

made 4k from 2 clients or more if he gets another PX and so on...

£3,000 margin in a car these days, no chance.

Starting at £1,500 and settling around £1,000 after the deal leaves £300 for prep, £175 in Vat and £500 profit per unit, these are the amounts i would consider normal. Obviously you get exceptions.

[cabcurtains]

...since most garages will take a car traded in without even really having a good look at it...

Ouch garages still get away with that, my guys get a rollicking if an appraisal form isn't completed fully down to spare keys and history and the px is driven, but then I'm a sod to work for :)

Not a sod, just doing the job as it should be, we have all driven swappers with gears missing/shot clutches and then re keys no Red key on a FIAT is it still a set of locks and an immobiliser? If so thats going to be £1,000 then.

[TheNissanMan]

...since most garages will take a car traded in without even really having a good look at it...

Ouch garages still get away with that, my guys get a rollicking if an appraisal form isn't completed fully down to spare keys and history and the px is driven, but then I'm a sod to work for :)

Not a sod, just doing the job as it should be, we have all driven swappers with gears missing/shot clutches and then re keys no Red key on a FIAT is it still a set of locks and an immobiliser? If so thats going to be £1,000 then.

It's not me who does it, I'm the one in the office making sure it's done :) Thanks for reassuring me it's not me being over anal, and yes to the fiat Q!!!