Trading in for a cheaper car at the same dealership

Joyota

Hi MSE,

A few months ago I purchased a toyota from one of the biggest dealers around and one of their specialist garages. (charles hurst toyota) on the money I was making before it was no problem whatsoever however I've took to an apprenticeship to further my skills and as such earn a good bit less than I was previously.

I'd like to return the car to them, (had it 2 months still in perfect condition with no modifications and few miles added) for a smaller engined cheaper to run car.

Right now I have £6000 left to finance after my deposit and two payments. The car is on HP, basically I want to swap from the 1.6 to a 1.3 with a far lower insurance group. this would save me massively on insurance, provide 20/30 more mpg etc.

Is this possible to "swap" for something cheaper? I would continue financing the smaller car at full price and simply hand back the other one.

Kind Regards,
J

wgl2014

Do your sums and see how much you would actually save, unless you do a lot of miles fuel cost is unlikely to be a huge amount. Insurance is also not always that much different (depending on your circs, get a couple of dummy quotes).

If you trade the car in you are likely to take a significant hit against what you paid so it may not be worth it.

verityboo

Which Toyota and where are you getting the idea you will get an extra 20 to 30 mpg?

On the honest John website looking at real mpg figures the difference between the 1.6 & 1.3 Auris for example is about 4 mpg?

https://www.honestjohn.co.uk/realmpg/toyota/auris-2007

Lucky_Duck_2

I suspect the amount lost in changing cars would pay for quite a lot of petrol and/or insurance premiums!