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part exchanging a car for one of a lower value

mysuni
mysuni Posts: 237 Forumite
i want to change my car for a used one that is cheaper than what my current car is worth. how would a garage deal with that?

Comments

  • Scuttsy
    Scuttsy Posts: 113 Forumite
    As simple as it sounds give you the money back. Just apply common sense rules i.e. make sure the money has cleared before swopping.
  • mark5
    mark5 Posts: 1,365 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    You will only get a trade in price for your current car while paying forecourt price on the new one so you will need to trade down a lot to get any real money back on the deal.
  • Hammyman
    Hammyman Posts: 9,913 Forumite
    mysuni wrote: »
    i want to change my car for a used one that is cheaper than what my current car is worth. how would a garage deal with that?

    Retail value and trade in value are not the same thing. Most garages will give you a kick in the nuts offer for trade in. I would expenct that unless there's more than £500 difference to expect to actually pay some money on top of your car.
  • Flyboy152
    Flyboy152 Posts: 17,118 Forumite
    mysuni wrote: »
    i want to change my car for a used one that is cheaper than what my current car is worth. how would a garage deal with that?

    They just give you the change.
    The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark
  • Flyboy152
    Flyboy152 Posts: 17,118 Forumite
    mark5 wrote: »
    You will only get a trade in price for your current car while paying forecourt price on the new one so you will need to trade down a lot to get any real money back on the deal.

    :huh:

    ...
    The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark
  • Kilty_2
    Kilty_2 Posts: 5,818 Forumite
    They can give you cash back - I'm taking £2100 back from a dealer from my P/X after making a deposit for finance.
  • mysuni
    mysuni Posts: 237 Forumite
    thank you all. i wasn't sure if it would be as simple as that...garages seem to be able to over complicate most things!
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