ripped off?

andrewf75

Traded in my car last week for £2,000, which matched what the guide prices say in Parkers etc. But I was a bit surprised to see the car up for sale now at £3,500! Now I'm pretty sure they won't sell at that price, but is this a usual mark-up or have I been "done" ?

[Deleted User]

They offered you a price that you accepted.

How have you been 'done'?

andrewf75

Perhaps my wording was a bit strong. I was happy with the deal, but I was just surprised to see them price the car that high, which makes me think I should have asked for more. Not going to stress about it, just want to learn lessons for next time!

Browntoa

buy £2000 , valet and clean maybe service


list on front at £3500 , maybe accept cash offer of £3000


not a big margin once you take in overheads

boliston

Cars are normally priced higher than the expected sale price so it allows for some "haggling" to be done. Dealer prices normally include a warranty which you would never get from a private sale.

andrewf75

Thanks all. Puts my mind at rest. The warranty is a good point. I know the margins can't be that high and the car I bought was very competitively priced so they aren't making much.

gilbert_and_sullivan

If you did a trade in, its the price to change that matters not how it's made up.

You could have sold the car privately, and bought the replacement separately, you might have ended up saving some money, but it would have meant a lot more work for you, more inconvenient and you are opening yourself up to all the shady scammers out there.

So long as you were happy with the deal you got, all is good, hope the new car gives pleasure.

davidwood123

If you wanted closer to £3500 you could always buy or rent a pitch, set up you own business, pay business rates, margin VAT, income tax, staff, other various overheads including advertising etc.

Maybe you'd then get closer to £3500 and be happy.

andrewf75

davidwood123 wrote: »

If you wanted closer to £3500 you could always buy or rent a pitch, set up you own business, pay business rates, margin VAT, income tax, staff, other various overheads including advertising etc.

Maybe you'd then get closer to £3500 and be happy.

no need to be like that, I was simply questioning whether the size of the markup was normal. I am fully aware that car dealers need to make money and do not in any way begrudge them making a margin.

neilmcl

andrewf75 wrote: »

Perhaps my wording was a bit strong. I was happy with the deal, but I was just surprised to see them price the car that high, which makes me think I should have asked for more. Not going to stress about it, just want to learn lessons for next time!

Handed my car back after it's 3yr PCP had ended because of no equity in it. The GMV was around £13.2K, and trade value was around that. However weeks later it was being advertised at £17.5K. Just the way of world I'm afraid.

Billy_Bullocks

andrewf75 wrote: »

no need to be like that, I was simply questioning whether the size of the markup was normal. I am fully aware that car dealers need to make money and do not in any way begrudge them making a margin.

If they were to get £3500 it is a rather large mark up.