Selling car back to dealer

scottiescott

Has anyone sold their car back to dealer or anywhere else for that matter due to it now being worth more than you paid for it?

Car_54

Not quite the same, but on trading in my car in April I got more than I'd paid for it two years previously.

Ebe_Scrooge

I sold a car to a dealer some time ago - not because it had gone up in value but because it was a nearly new car we inherited that we had no use for.

Bear in mind - whenever you sell to a dealer, or we-buy-any-car or whatever - they'll buy it from you and sell it on.  In doing so, they've got to cover their costs and make a profit on top.  So if they're looking to re-sell it for, say £10,000 they may offer you only £7000 or £8000.  When you say "it's worth more than you bought it for", you need to be careful how you define "worth" - is that the trade-in value that a dealer would give you, or the amount a dealer would sell it on for?

k3lvc

Yes - bought used in June '20 for £15.5k and sold back to them as a cash transaction in Dec '21 with 20k more miles on clock for £16.5k. they had a buyer lined up and my car had everything they wanted.

In many cases the bubble seems to have burst now though (WBAC were offering £13.5k and they're now down to £10.5k) 

furac40

Yes, Pentagon Lincoln sold me a faulty car and tried to wash their hands of it. Reported and asked for a refund the next day but was refused by a condescending branch manager (Tony). Eventually, after a few good months and the Trade Motor Ombudsman (TMO) intervention Pentagon Lincoln purchased the car back from me. The car was immediately advertised in Autotrader and sold for £4k more than what I paid.

Brie

a few years back I had a little 2nd hand Honda that I'd got from a local dealer.  As I recall I paid £1200 for it, had it for 3 years, and in that time was in an accident that got me a payout for damage for £800.  Never fixed the damage (cosmetic) and when the next year the car failed it's MOT dramatically the same dealer was happy to buy it off me for £300.  So other than the running charges it cost me £100 to have a car for 3 years which I thought was not too bad.

motorguy

scottiescott said:

Has anyone sold their car back to dealer or anywhere else for that matter due to it now being worth more than you paid for it?

Yes, many people.

However be aware the price of any car you will be going to buy will have risen proportionally too, so if you're doing it and buying another car, you could be worse off.

[Deleted User]

k3lvc said:

Yes - bought used in June '20 for £15.5k and sold back to them as a cash transaction in Dec '21 with 20k more miles on clock for £16.5k. they had a buyer lined up and my car had everything they wanted.

In many cases the bubble seems to have burst now though (WBAC were offering £13.5k and they're now down to £10.5k) 

Yep the bubble has burst but there are still a few hanger on traders trying to get top money for their worn out 10 year old cars.