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This is funny...NOT

Discussion in 'United Kingdom' started by Benzino, Sep 5, 2005.

  1. Benzino

    Benzino Karting

    Jul 6, 2005
    187
    Kent
    Full Name:
    Phil
    ......thought i'd see what the Ferrari trade value a 348 1990 rhd in silver today (mine) no chance of me ever selling it just curious!!!!..Anyway was told in the trade its worth 15k (not seen it)..[Edited by somebody] PI55 MYSELF LAUGHING!!!!!...But retail 25k which is ok as i paid 24k...So they would give 15k but retail it at 25k......the question is..are ALL traders daylight robbers or knobbers..ROFL!!!!!!!

    My answer YES AND [Edited by somebody] YES


    :D :rolleyes:

    My car to me is priceless and people think its 70k....pity they are held in such low regard by the sharks..opps i mean trade :eek:
     
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  3. chaa

    chaa F1 Veteran

    Mar 21, 2003
    5,058
    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.
     
  4. tomw

    tomw Formula 3
    Silver Subscribed

    Feb 25, 2004
    2,119
    London
    Full Name:
    Tom
    I'd have it off you for 16 :p
     
  5. 5to1

    5to1 Formula Junior

    Mar 15, 2004
    522
    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.
     
  6. steve f

    steve f F1 World Champ

    Mar 15, 2004
    12,030
    12cylinder town
    Full Name:
    steve
    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
     
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  8. stevep

    stevep F1 Veteran

    Jan 19, 2004
    8,330
    Geordie Land
    Full Name:
    steve
    steve i detect you are annoyed by pervios financial advice you have been given
     
  9. stevew

    stevew Formula 3

    Jun 9, 2002
    1,837
    uk
    Full Name:
    Steve
    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.
     
  10. Benzino

    Benzino Karting

    Jul 6, 2005
    187
    Kent
    Full Name:
    Phil
    ...the thing is though i am pxing my XJR for another car and i am getting 8k for it...only paid 8.5k...its seems Ferrari's are buy for mondeo money and sell fore Ferrari prices...LOL...maybe if the dealers didnt have top of the range suits on they would offer more money... ;) ....then on top of all said they charge you 3k for a cam belt service ROFL....have you noticed all Ferrari dealers have big windows???...They see us coming...:D
     
  11. CraigW

    CraigW Formula Junior

    Apr 11, 2002
    423
    London
    Full Name:
    Craig Williams
    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
     
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  13. steve f

    steve f F1 World Champ

    Mar 15, 2004
    12,030
    12cylinder town
    Full Name:
    steve
    what do you do for a living ???????? you still aint answered
     
  14. Benzino

    Benzino Karting

    Jul 6, 2005
    187
    Kent
    Full Name:
    Phil
    I am a Bosch Motorsport Dealer mate....BUT dont sell at motorsport prices as i am trade only....i let them commit daylight robbery..ROFL ;)
     
  15. Ade

    Ade Formula 3

    Jan 31, 2004
    2,095
    UK

    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.
     
  16. ric355

    ric355 Guest

    Dec 21, 2003
    1,375
    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.
     
  17. spidermanUK

    spidermanUK Formula 3

    Feb 26, 2005
    1,602
    UK
    Full Name:
    Clive
    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!;)
     
  18. stevew

    stevew Formula 3

    Jun 9, 2002
    1,837
    uk
    Full Name:
    Steve
    Is this not taking the michael as well,no intention of selling,just wasting a dealers time and then complains about the offer.

     
  19. Benzino

    Benzino Karting

    Jul 6, 2005
    187
    Kent
    Full Name:
    Phil
    Steve i hardly think 10 minutes on the phone is wasting a dealers time who for 99.9% of the day are sitting on there butt pretending to look busy...i feel i helped in relieving his boredom!..LOL.
     
  20. steve f

    steve f F1 World Champ

    Mar 15, 2004
    12,030
    12cylinder town
    Full Name:
    steve
    the truth hurts £15000 thats why you are on here moaning well if thats all its worth you either sell or keep
     
  21. F308 MAN

    F308 MAN F1 Rookie

    Jan 19, 2004
    2,907
    Isle of Man
    Full Name:
    Dave S
    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
     
  22. 5to1

    5to1 Formula Junior

    Mar 15, 2004
    522
    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?
     
  23. steve f

    steve f F1 World Champ

    Mar 15, 2004
    12,030
    12cylinder town
    Full Name:
    steve
    there is more cars for sale than buyers wanting cars
     

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