Swapping car - reasonable expectation?

scooby75

I was trying to trade in my car last year but due to my credit rating at the time prevented it. Anyway, I've now paid off the existing finance and my credit rating has improved a bit.

The average I got for my car (52 reg Yaris Auto) was about £1400 trade in, despite the baboon dents incurred from a safari park trip, missing and badly scratched alloys and a few chips on the paintwork.

I was thinking of swapping the car (say a value now of £1200), paying £500 cash and getting about £500 on finance to get a a slightly newer car (say 05 - 06 reg) but similar to what I have now.

Does that sound like a reasonable expectation?

mintymoneysaver

I think you may find you won't get as much for trade in as that. I've just traded in my 03 Primera, and had to really persuade them to give me £700 for it, towards a newer car than the one you're thinking of getting.

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forgotmyname

Perfect condition maybe £1000 ish. With dents your looking at half that. If a garage offers more as a trade in then its overpriced the car your buying.

£500 for your car, £500 cash and £500 loan your only going to get something that may need work doing to make it 100%.

Keep running it until it dies and save as much as you can whilst doing that and buy something you can afford with the cash in your pocket.

Loans are to be avoided if at all possible.

pendulum

Might walk away with £1200 in a private sale if the car was in good condition... but if the bodywork is bad [baboon dents] you've got to knock a few hundred off...

Notmyrealname

You won't find anywhere to give you a £500 loan except Shopacheck or Wonga.com.

Hintza

I think you lot are still being generous. The car is a banger.

OP why would you want to sell a car that you know to buy somene elses banger that you know nothing about? Madness.

scooby75

Thanks everyone. Think the prices I was getting last year were to pay for over priced cars. I'm just looking for something a bit more economical. My car runs great, never had a problem with it, but bestmileage I can get at a push is 370 per tank. Usually about 300 miles though.

rsvtoddy

As everyone says - stick with what you've got, saving a few pounds by buying a more economical car will be wiped out very quickly by one small repair bill.

Your Yaris with a known history should be better than a newer, unknown history car.

forgotmyname

300 miles from how many litres though? 45 litres? 10 gallons?

Im lucky to get that from 58 litres and mines diesel.

getmore4less

How many miles a year are you doing?

£500 cash and £500 debt buys a lot of fuel?

£500 @ 10% is £1 a week in interest.

300-370miles per tank 45ltr? is 10.7-13 km per litre - 30-36mpg

10000 miles a year is 27-33 tanks @ £1.40pl £1700-£2079

19kmiles, double mpg(60-70) payback about one year.