Author Topic: Trade in valuations  (Read 13838 times)

edam

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Trade in valuations
« on: August 29, 2015, 07:35:34 PM »
I'm thinking about getting the new Jazz .
I own a late 2011 ES CVT and have checked with 2 Honda dealers to see how much I would get in P/EX
One offered only £4800 whilst  the second offered £6500 plus other perks.
That's £1700 difference!!!
I don't understand
« Last Edit: August 29, 2015, 07:41:16 PM by edam »

Ozzie

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Re: Trade in valuations
« Reply #1 on: August 29, 2015, 09:48:34 PM »
What mileage do you have on your car?

I am popping into a dealer to have a look at the new Jazz soon, I will ask them to give me a trade-in value . . . . just for a laugh  ;D

edam

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Re: Trade in valuations
« Reply #2 on: August 29, 2015, 09:53:59 PM »
Just 17000 .
£4800 is a insult
My Jazz is not happy it feels very undervalued

John Ratsey

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Re: Trade in valuations
« Reply #3 on: August 29, 2015, 10:22:45 PM »
£4,800 is a very low bid. The £6,500 is probably realistic and consistent with the £7,500 agreed for my 11 reg hybrid HS with similar mileage to yours but it took a bit of haggling. My starting place was the £9,500+ being asked by dealers for something similar (but, as my salesman pointed out, what is asked and what it is actually sold for can be different.
2022 HR-V Elegance, previously 2020 Jazz Crosstar

edam

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Re: Trade in valuations
« Reply #4 on: August 29, 2015, 10:49:25 PM »
This is the second time this has happened.
When I bought my present car the first dealer gave me a crap p/ex but the second dealer gave such a better deal that I could not turn it down.
I managed to turn down the better deal this time , it was hard to do,  but I think I need to really decide what I want.
I would like to see if the S does not have the gizmo by the mirror and also would like to see the colour on a car

monkeydave

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Re: Trade in valuations
« Reply #5 on: August 30, 2015, 12:18:17 AM »
Just 17000 .
£4800 is a insult
My Jazz is not happy it feels very undervalued

that is bad god knows what i would get for mine, good job i am keeping it a long time

Rory

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Re: Trade in valuations
« Reply #6 on: August 30, 2015, 10:16:16 AM »
What is it on WeBuyAnyCar - I looked at our 2009 EX the other day and it was £5K.

You've got to look at the "cost to change" figure.

Changed daughter's car last year (from Colt to Jazz).  Got a reasonably good deal on the price Jazz and the dealer used WBAC to value the Colt and offered us £50 more (£1100). 

I felt insulted, but, realistically, you can't have it both ways - if they'd sold the new Jazz at list price then that would have made the Colt's value around £3500.

guest907

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Re: Trade in valuations
« Reply #7 on: August 30, 2015, 10:58:44 AM »
Sadly I had to leave Honda in April after 6 x Jazz's, couldn't wait (and wait) for the new model  :(. Nissan Dealer agreed £6,700 for a 62 reg EX with extras pack and 50K miles. That was £400 better than any Honda dealer offered to change for another GE Jazz equivalent model.

At the end of the day I'm in full agreement its all about the 'cost to change'...how much money do I have to part with!  :o

(I notice its still listed on their website...I changed April)

culzean

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Re: Trade in valuations
« Reply #8 on: August 30, 2015, 02:57:21 PM »
Swopping cars too often is a sure way to waste money, and depreciation is not linear, cars depreciate most in first couple of years (you lose 20% of purchase price you just paid in VAT straight away when car leaves the showroom).

I am glad some people do splash out on new cars though,  I am one of the beneficiaries as I usually get one 12 to 18 months old at a good price.

Some people will only consider you an expert if they agree with your point of view or advice,  when you give them advice they don't like they consider you an idiot

guest4324

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Re: Trade in valuations
« Reply #9 on: August 30, 2015, 03:39:48 PM »
I saw a report in Switzerland last week where they took a VW touran to about 10 garages to see what price they would get for it without px. The correct value was 15000sfr. Only one garage offered this amount, the worst was 9500sfr by an official VW dealer! When they confronted the dealers it was the usual rubbish about scratches, interior wear etc. But the main advice was get as many offers as you can.

peteo48

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Re: Trade in valuations
« Reply #10 on: August 30, 2015, 03:57:09 PM »
Swopping cars too often is a sure way to waste money, and depreciation is not linear, cars depreciate most in first couple of years (you lose 20% of purchase price you just paid in VAT straight away when car leaves the showroom).

I am glad some people do splash out on new cars though,  I am one of the beneficiaries as I usually get one 12 to 18 months old at a good price.

Yes - I rely on people taking the first big hit of depreciation as well. I guess, however, it is important to some people to have that brand new feel even if it difficult to justify on economics.

Rory

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Re: Trade in valuations
« Reply #11 on: August 30, 2015, 04:01:23 PM »
Sadly I had to leave Honda in April after 6 x Jazz's, couldn't wait (and wait) for the new model  :(. Nissan Dealer agreed £6,700 for a 62 reg EX with extras pack and 50K miles. That was £400 better than any Honda dealer offered to change for another GE Jazz equivalent model.

Blimey - that makes the £5K WBAC offered for our 2009 / 59 plate EX look remarkably high.

Rory

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Re: Trade in valuations
« Reply #12 on: August 30, 2015, 04:07:43 PM »
you lose 20% of purchase price you just paid in VAT straight away when car leaves the showroom.

No you don't - the price to retail customers is VAT inclusive and the VAT element depreciates over the life of the car in the same way as the car's ex-VAT value.

Hence when used are sold by dealers they have to pay VAT on the profit they make (VAT margin scheme).

Now, of course it could be that a nearly-new car will be 20% cheaper than a new one, but that's just market forces.  If the car was in demand then it could even be dearer than new.

madasafish

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Re: Trade in valuations
« Reply #13 on: August 30, 2015, 05:26:57 PM »
I buy  3-12 month used cars at huge discounts - my Jazz was 6 months old, had a 5 year service plan and was £3 less than list - with 300 miles on the clock.

Buying new cars is for others.. We keep our cars for a decade or longer. Our Peugeot 106- 17 years , our Yaris 10years and counting...  Depreciation ? Very low. Running costs? Very low.

I was not educated in Aberdeen for nothing - Yorkshire people are spendthrifts:-)




culzean

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Re: Trade in valuations
« Reply #14 on: August 30, 2015, 06:14:51 PM »
you lose 20% of purchase price you just paid in VAT straight away when car leaves the showroom.

No you don't - the price to retail customers is VAT inclusive and the VAT element depreciates over the life of the car in the same way as the car's ex-VAT value.

Hence when used are sold by dealers they have to pay VAT on the profit they make (VAT margin scheme).

Now, of course it could be that a nearly-new car will be 20% cheaper than a new one, but that's just market forces.  If the car was in demand then it could even be dearer than new.

http://www.thecarexpert.co.uk/depreciation/ 

http://conversation.which.co.uk/transport-travel/buy-new-used-car/

http://www.thisismoney.co.uk/money/experts/article-1630721/Do-I-have-to-pay-VAT-on-a-second-hand-car.html
« Last Edit: August 30, 2015, 06:37:48 PM by culzean »
Some people will only consider you an expert if they agree with your point of view or advice,  when you give them advice they don't like they consider you an idiot

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