Trading in a car...

[Ostinato]

Just wondering if anyone has traded in any cars when buying a new one to get money back off kinda thing?

My cousin did it with a punto he had and got £1000 off..

I'm thinking of getting something different pretty soon and maybe trading my corsa in...

[GommeInc]

Just wondering if anyone has traded in any cars when buying a new one to get money back off kinda thing?

My cousin did it with a punto he had and got £1000 off..

I'm thinking of getting something different pretty soon and maybe trading my corsa in...
I have. They usually price the car up before getting you to sign stuff, so you can always disagree :P

You can usually get alot more money off if you trade your car in with a proper car company dealership .It varies on dealer and company though. If you trade in a Corsa or a car from the same company, for example, for another car from the same company, then they may give you more for the car.

[tdi]

yeah it's called part-ex. 'shop around' though, as you can sometimes get more selling privately.

[lissilo]

I don't drive, but I've actually never heard of someone doing that before. :S

[Hazza]

Its common, you "part-ex" the vechile. This means they give you money for your car if they want it and it comes off the price of the car you want, simple...

Just watch out though, some places offer more than others.

[tm]

With the recession at the moment the price dealers are offering for part-ex's is at an all time low. However, their prices are equally at an all time low.

tm's advice:

Check market value of your car. Go through small ads in the local paper or auto-trader (or auto-trader online) and find something similar. Take about 15% off to compensate for how much the seller would actually take for it and this is more or less the true value of your car. Don't expect this is part exchange - the dealer needs to make a profit. If they offer a small amount less, it's a good deal.

Find out what other dealers will offer you in part-ex. As previously posted, they aren't the same. Also beware that dealers might actually offer you an amazing part-exchange but not knock as much off the new car as a different dealer.

Dealers know people are trying to save money and might beat another dealer's price. Go round to 5 or more garages and get the final price for the full deal including the part-ex and new car price. This is a great bargaining point and will mean you get the best deal possible. On a brand new car you can expect to pay at least 40% off the list price at the moment.

Clean your part-ex car. The dealers don't often check it fully over and having a clean, tidy and well looked after (looking) car can save you several hundred pounds.

Some places offer a minimum part-ex value. Sometimes £100, sometimes even £1000. This is a gimmick and they will make it back from you by increasing the price of something else. Don't fall for it.

Good luck!