This is funny...NOT

15K trade!!! what! i dont think thats right at all, if so i would pick one up tomorrow, no probs from one of me pals. Thing is they would give ya 15k then knock it out at more like 35K. Bloody rats.

 

I'd have it off you for 16

 

Well they are running a business guys. Its not really their responsibility to tell you the market value.

Although if as you say the market is at 35k, perhaps he was taking it a bit far.

Also you have to balance the profit margins they look for on cars, against the risk of holding a depreciating product in stock.

 

well i suppose what ever job you do you do it for free at no profit lets talk about bankers endowment policy sellers city traders and bent solictors that know there client is guilty and lie to get him of

so lets know what honest living you do as i dont think anybody on here works for nought

 

steve i detect you are annoyed by pervios financial advice you have been given

 

I would suspect he's more annoyed at people having a go at the motor trade at every possible opportunity for having the cheek to make a profit.
It does seem OK for Solicitors/Barristors to charge £200ph plus,even if they win or lose,but the guy working on your car gets slated for charging half that or less.Or the estate agent who charges 1-2 % of the sale price for not doing very much,and after the sale has completed the new owner doesn't go back to them for warranty work if anything is wrong with the house.
If a dealer makes an offer on a car it will be based on what it is worth to them
remember that they have to have that money laid out(estate agents don't),they wil take into account the cost to prepare,service and advertise the car for sale,the fact that they may be stuck for a long time with a car that is not the most saleable colour etc.Also they may just not want the car,so they have made what seems like a low offer.

 

also trade values are always shocking. Dont forget they might buy your car for 15k then spend 5k doing work to it and 1k on a warranty then might have to sit on the car for 3 months while it doesnt sell.

2 years ago the trade in for my mint 94 GTS was 22k, i subsequently sold it for 28,500

 

what do you do for a living ???????? you still aint answered

 

Im not surprise he has let 10K from trade to 'retail'. Answer would be (if you were selling) to sell it privately if you can.

Firstly, it wont sell for 25K... people alway haggle. Let say it sells for 23K. He has to sort out silly things like missing keys, scuffed wheels, a service, a warranty - lets say 4K is not unreasonable. That leaves him profit of 4K. And thats 4K profit from potentially 3 months waiting/storage.

Compare that to a secondhand Vauxhall Astra dealer, the dealers margin might to 400 quid, but the car sells in 1 week, freeing up cash to buy another etc etc. He gets 400 quid times 15 = 6000 in the same time scale for the same storage space.

 

It is unusual for a 2nd hand car to be serviced as part of a deal like that - it would more likely be 25k including service or (say) 23k without. Also, you are making the assumption that his car has scruffy alloys and missing keys (or whatever) - probably not true. A warranty doesn't cost 1k either does it? It can do retail but surely it won't cost the dealer that?

That car has more intrinsic value than 15k; the offer is taking the Michael as as far as I can see. I bet it would be a lot more than that on a part exchange deal, and yet there is double profit to be made from a part-ex.

 

Part ex prices are the biggest con in the world! High values appeal to low IQs!
I would give £40,000 for the above mentioned car in part ex for my 360 spider, the only problem for Phil is that I want £160,000 for my car!

The only figure that matters in a px deal is the "cost to change", i.e. the difference that you need to stump up.

In the good old days, my local Lada dealer would take a brand new 1200, retail £3495, put a stripe and mud-flaps on it, call it a Ltd Edition, and mark it up for £4995, but give £1000 min. px! Worked a treat!It even gave the punter his 20 % deposit for the HP.
Alas as we all know, it's only worth what someone will actually write a cheque out for!
Also, dealers are entitled to a profit, and to make a living, if they didn't, the sharp suit and sheepskin coat industries would be in a sorry state!

 

Is this not taking the michael as well,no intention of selling,just wasting a dealers time and then complains about the offer.

 

the truth hurts £15000 thats why you are on here moaning well if thats all its worth you either sell or keep

 

In this wonderful world we are most fortunate.
With reference to most dishes on lifes' menu, we can either "take it" or "leave it".
Anybody contemplating ferrari ownership, would be foolish not to have have preconsidered all of the comments/figures you have whinged about.
But despite your comments, you have chosen to "take it".
cheers, d

 

When you go to buy a house is your first offer market value? Would you take advantage of someone who is desperate to sell with a low offer?

Now in this case you are buying an appreciating asset. And its a one off purchase.

Dealers are buying depreciating assets, and regularly. Moreover, you are asking them to take the car at the beginning of the worst time in the year to sell cars. Furthermore, I believe the car market has been particularly quite recently. What do expect them to do.

As I said before, its your responsibility to know the market value of your car. Or for that matter anything you sell. The buyers responsibility is to get the best price possible (particularly when its your livelyhood). Would you turn down a high offer from someone?

 

there is more cars for sale than buyers wanting cars