What's my car worth

dark_knight_2

Define cost to change? (If I'm not being too thick)

neilmcl

It's the overall cost for your new car.

For example If the new car was £18k and they offered £10K for yours then the cost to change would be £8K. If, however, you could have got £3K discount somewhere else with a more realistic £8K for yours then the cost would only be £7K and therefore a better deal, even though on the face of it you got a worse deal for your part-ex.

dark_knight_2

neilmcl wrote: »

It's the overall cost for your new car.

For example If the new car was £18k and they offered £10K for yours then the cost to change would be £8K. If, however, you could have got £3K discount somewhere else with a more realistic £8K for yours then the cost would only be £7K and therefore a better deal, even though on the face of it you got a worse deal for your part-ex.

That's what i thought, just wanted to be sure!


Between the new Part ex and the o% finance and 'deposit contribution' (plus 3yrs servicing and some accessories) i'm about £3k up on the original offer.

motorguy

dark_knight wrote: »

Worked out ok in the end, my local Mazda dealer has offered £10k!

Sorry to burst your bubble but he may have "offered" you £10K, but hes not stocking your car at £10K.

You can buy low miles 2013 360 DCis from £10,500 upwards.

I'd say hes stocking it at £8500 to £8750.

Hes using smoke and mirrors to make you feel good about the trade in price.

Mercdriver

dark_knight wrote: »

That's what i thought, just wanted to be sure!


Between the new Part ex and the o% finance and 'deposit contribution' (plus 3yrs servicing and some accessories) i'm about £3k up on the original offer.

Since you are financing, you need to compare Balance to Finance - and the cost of that finance between dealers.

EG: You need to look at the price of the car you are looking to purchase, let's say for the sake of argument the best price you can get is £16k with this dealer, then you need to deduct the Part Ex contribution from this figure. So in this instance that would leave you a balance to finance of £6k.

The other dealers may have given you a lower figure for the new purchase. So say Dealer 1 who only offered you £8k gave you a purchase price of £13k. This leaves you a balance to finance of £5k.

Assuming for the sake of argument that the APRs are the same across the board, you are better off going with the lower offer for your car.

My younger brother took his car to Carcraft in Newport years ago to part ex. I told him to wait until I had a day off to make sure he didn't get tricked. Having been a sales manager at that time in a different area, I knew how unscrupulous salesmen could be when chasing commission, and told him not to go without me. He didn't have enough patience and basically overpaid and didn't get a good deal at all (you can lead a horse to water...).

I'd been into the same dealership myself a few weeks before with my wife and walked out when they refused to stop talking about £x amount per week. I told them that since the payments were monthly then that was the amount we would need to look at. But they were stuck in their programmed sales patter.

Go into the dealerships again (unless you've already signed on the bottom line) and chase the balance to finance. Play one dealer against the other on this figure and this figure alone. Don't get tricked on offers of more money on your part ex or less money on your purchase, concentrate on Cost to change/balance to finance.

In short, you are asking the wrong question. The question isn't "How much is my car worth", but "What's the lowest amount I can pay to change my car?" Anything else is a red herring.

Sorry if this seems like teaching a granny to suck eggs...

dark_knight_2

Appreciate the comments all, I'm in a fortunate position that I can clear the finance straight away, both dealers offered the car at the same price, but one offered a higher trade in and threw in servicing and a few other accoutrements so I'm happy with the deal

dark_knight_2

motorguy wrote: »

Sorry to burst your bubble but he may have "offered" you £10K, but hes not stocking your car at £10K.

You can buy low miles 2013 360 DCis from £10,500 upwards.

I'd say hes stocking it at £8500 to £8750.

Hes using smoke and mirrors to make you feel good about the trade in price.

Ah! Delighted to see you contributing to the thread, as we're from the same locality I was hoping you could divulge some yoda like wisdom as to how best to push the local dealers to match the online brokers. I'm happy with the deal as it stands but I'm always open to suggestions as to how to drive a harder bargain

bigjl

dark_knight wrote: »

Ah! Delighted to see you contributing to the thread, as we're from the same locality I was hoping you could divulge some yoda like wisdom as to how best to push the local dealers to match the online brokers. I'm happy with the deal as it stands but I'm always open to suggestions as to how to drive a harder bargain

You won't really be driving a harder bargain.

Your car is worth what it's worth, they can't find value from nowhere. They only way they can add more to the trade in is if they are either charging more for the car they are selling, they are making the money elsewhere or they want to get you back as a Service customer and make money off you there, probably by telling you work is needed on the brakes to be honest.

If I had a 13 plate low miles Qashqui I would not be selling it for another two years.

A lot of DrivetheDeal prices are dependant on you using a specific financing option so that needs to be considered

Mercdriver

bigjl wrote: »

You won't really be driving a harder bargain.

Your car is worth what it's worth, they can't find value from nowhere. They only way they can add more to the trade in is if they are either charging more for the car they are selling, they are making the money elsewhere or they want to get you back as a Service customer and make money off you there, probably by telling you work is needed on the brakes to be honest.

If I had a 13 plate low miles Qashqui I would not be selling it for another two years.

A lot of DrivetheDeal prices are dependant on you using a specific financing option so that needs to be considered

Stop confusing the issue. It's the overall deal that is important. The cost to change is the deal. The price of the car and the amount of trade in allowance are two headlines that can be misleading. Sales people know that people care about the amount they get for their car above most other things.

Since the OP is going to finance the deal and then settle it immediately, he needs to concentrate on the cost to change, and double check the paperwork to make sure there are no penalties for early settlement. Unless he has a specific preference for one of the three cars, he should go around all the dealers again and compare the cost to change and see whether any of them will budge and improve their offers.

dark_knight_2

Mercdriver wrote: »

Stop confusing the issue. It's the overall deal that is important. The cost to change is the deal. The price of the car and the amount of trade in allowance are two headlines that can be misleading. Sales people know that people care about the amount they get for their car above most other things.

Since the OP is going to finance the deal and then settle it immediately, he needs to concentrate on the cost to change, and double check the paperwork to make sure there are no penalties for early settlement. Unless he has a specific preference for one of the three cars, he should go around all the dealers again and compare the cost to change and see whether any of them will budge and improve their offers.

And this is what I did and the cost to change has dropped from £13k to £11k (plus servicing etc thrown in)