Help needed - any car dealers?

Discussion in 'General Chat' started by colin1984, Aug 26, 2013.

  1. colin1984

    colin1984
    Active Member

    Joined:
    Jan 27, 2011
    Messages:
    410
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    28
    Location:
    Kilmarnock
    Ratings:
    +36
    Or anyone with direct access to a Glass's valuation?

    I'm looking to trade my car but can't help but feel that I'm getting a little bit short changed on my part exchange offer - the garage is quoting Glass's which I don't have access to.

    My car is a 2011 11-plate BMW 120d M-Sport 3dr. Space Grey metallic, 18" wheels, full leather and xenon's (those are the extra worth mentioning). It's done 27k miles and has the remaining 2.5 years of the service inclusive on the car.

    Can anyone help me out? I'm being offered £13k which seems a little short to me. Car cost me £27.5k new at March 2011.

    Thanks, Colin.
     
  2. swiftpete

    swiftpete
    Well-known Member

    Joined:
    Sep 30, 2006
    Messages:
    5,156
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    136
    Location:
    Notts
    Ratings:
    +1,272
    Why don't you sell it instead?
     
  3. colin1984

    colin1984
    Active Member

    Joined:
    Jan 27, 2011
    Messages:
    410
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    28
    Location:
    Kilmarnock
    Ratings:
    +36
    Honest answer - negative equity. If I sold private I'd have to make up the shortfall. The new car I'm looking at has a massive contribution from BMW and the garage are willing to use some of this to off-set my negative equity.

    My biggest problem is that when the car was about 6 months old they started pumping out all of these PCP deals and the value of my car started dropping big time. I'm willing to take the hit re. finance on a new car but would like to see the part exchange being a little keener.
     
  4. Steve N

    Steve N
    Distinguished Member

    Joined:
    Feb 3, 2005
    Messages:
    10,920
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Peterborough
    Ratings:
    +2,377
    Doesn't matter what Glasses, Parkers or any other guide says, you're unlikely to be able to get them to give you more than they want to whatever you refer them to.
     
  5. colin1984

    colin1984
    Active Member

    Joined:
    Jan 27, 2011
    Messages:
    410
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    28
    Location:
    Kilmarnock
    Ratings:
    +36
    Yeah I do realise that I can't make them give me more. If they are quoting 'we've run it through Glass's' then I'm just looking for them to play fair and actually offer what Glass's says - currently I'm not certain that they are. I may be wrong!
     
  6. Inked

    Inked
    Distinguished Member

    Joined:
    Jan 3, 2006
    Messages:
    17,888
    Products Owned:
    18
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Behind you
    Ratings:
    +7,338
    You can get a basic free evaluation on the website, one adjusted for milage and options is only £3.95
     
  7. vinny41

    vinny41
    Well-known Member

    Joined:
    Dec 20, 2002
    Messages:
    2,208
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    83
    Ratings:
    +309
    I think in 2011 there was a new model launch which does affect the price of the previous model

    Some extras are worth having because when you come to change your car, a ‘fully loaded’ model will be easier to sell – although it might not necessarily increase the price

    wise buyers give a good indication of used car value if this is the right model
    trade value is £12,819


    WiseBuyer's Guides - BMW 1 Series (2007-) mileage adjusted used car prices
     
  8. Arcam_boy

    Arcam_boy
    Distinguished Member

    Joined:
    Jun 13, 2006
    Messages:
    11,980
    Products Owned:
    0
    Products Wanted:
    2
    Trophy Points:
    166
    Location:
    Birmingham
    Ratings:
    +2,334
    Its always upsetting when you get a part ex value and they offer you a lot less than you want/imagined, I've been there a couple of times!

    I've had a quick look on autotrader and couldn't find one 11 plate 120d m sport for under £13k so in an ideal world you'd sell it privately and maybe get an extra £1500 - £3000 more! However most dealerships can offer you a lower PX as they know it'll be much easier for you to let them do the work and you just pay the difference from your current car to driving off in a brand new one and the same thing to happen 2/3 years down the line.

    I'd personally hold out for a little more if its BMW you're dealing with again. At the end of the day you've got a nice car and if the deals really not what you're wanting then enjoy the car a little longer and the depreciation shouldn't be so severe now!
     
  9. davepuma

    davepuma
    Distinguished Member

    Joined:
    Jun 24, 2004
    Messages:
    17,536
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Ratings:
    +3,506
    Try another dealer!
     
  10. vinny41

    vinny41
    Well-known Member

    Joined:
    Dec 20, 2002
    Messages:
    2,208
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    83
    Ratings:
    +309
    The price guides indicate another £600 pounds for selling private although I did see on autotrader someone is trying to sell 2010 model less miles than yours left hand drive and there asking price is £17,500 which is a lot more than retail for a right hand drive 2010

    As new regs will be out next month prices for used models tend to drop by approx. £500 in October

    And as BMW are launching a refresh of the current model this will affect prices downwards

    Are you not better off keeping your existing car as if the new car that your are looking at has a massive contribution from BMW that will affect the resale value of that vehicle

    Feb/March/Aug/Sep are not the best months for getting a good deal on a new car much better months are Nov/Dec/Jan towards the end of the month
     
    Last edited: Aug 26, 2013
  11. True Romance

    True Romance
    Distinguished Member

    Joined:
    Feb 7, 2005
    Messages:
    6,956
    Products Owned:
    1
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Wolverhampton
    Ratings:
    +3,026
    Honestly I don't understand why folk get so worked up about PX values on their cars when trading in. The only price you need to worry about is the "cost to change". You should know approximately how much you are willing to spend to swap vehicles so this is the main figure to be looking at.
     
  12. vinny41

    vinny41
    Well-known Member

    Joined:
    Dec 20, 2002
    Messages:
    2,208
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    83
    Ratings:
    +309
    I don't know anyone that doesn't question what a salesmen is offering unless its an all expenses holiday to peru in return for carrying a couple of small packages
     
  13. colin1984

    colin1984
    Active Member

    Joined:
    Jan 27, 2011
    Messages:
    410
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    28
    Location:
    Kilmarnock
    Ratings:
    +36
    Don't really agree with the cost to change comment. It's about getting the fair trade price. If the price is fair then all good - it is what it is.
     
  14. colin1984

    colin1984
    Active Member

    Joined:
    Jan 27, 2011
    Messages:
    410
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    28
    Location:
    Kilmarnock
    Ratings:
    +36
    And thanks for the comments guys. The issue with the car is that I need something bigger and with 5 doors - my boot is tiny and I have a 15 month old daughter and a dog.
    The car seems to be depreciating at a rate of £450ish pcm (got a part exchanger offer of £16k in February and an offer of £14k in June from the same garage) - which is frightening - but I could live with it if the car was fit for purpose, which it no longer is!
     
  15. blue max

    blue max
    Distinguished Member

    Joined:
    Apr 12, 2006
    Messages:
    12,928
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    London
    Ratings:
    +4,299
    A trade-in is likely to be the very least you would ever get. They are taking it on to sell at a profit. Sometimes the value is artificially high to mask the fact that the new car purchase is rather higher.

    Selling privately at top dollar and getting a fat cash discount for the new car is the only way to get the very best deal.

    But if you are considering changing a car after it has done most of it's depreciating and buying new, you probably value convenience over a good deal.

    The dealer will look at the figures and make sure then sell high and buy low to ensure they make the profit they are looking for.

    Sounds like a lovely car, so if you want any advice, I'd add to the 'keep it' brigade.

    Oops, just seen your comments about it not being suitable. I'd sell privately and see what deal they would give for cash. At least you would then know what they were really offering you.
     
  16. vinny41

    vinny41
    Well-known Member

    Joined:
    Dec 20, 2002
    Messages:
    2,208
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    83
    Ratings:
    +309
  17. walleee

    walleee
    Active Member

    Joined:
    Apr 19, 2009
    Messages:
    2,150
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    66
    Location:
    Bangor. NI.
    Ratings:
    +220
    isn't it because the PX value directly effects the 'cost to change'?
     
  18. Arcam_boy

    Arcam_boy
    Distinguished Member

    Joined:
    Jun 13, 2006
    Messages:
    11,980
    Products Owned:
    0
    Products Wanted:
    2
    Trophy Points:
    166
    Location:
    Birmingham
    Ratings:
    +2,334
    If you take something like this as an example

    BMW 1 SERIES 120d M Sport 5dr Step Auto Diesel Hatchback 2.0 2011

    If I was in your position I'd be looking at £15000 considering yours has done a few less miles and has the full leather and xenons which won't add a huge amount but make it a nice feature.

    Keeping in mind the dealer needs to make a profit I'd be wanting to eek another £1000 on top of the part ex value.

    Don't let on you're tied in to the finance by being in negative equity with the car. Maybe play the game abit with the dealer and say you'll sell private and look elsewhere instead and see if he rings you back!
     
  19. RBZ5416

    RBZ5416
    Distinguished Member

    Joined:
    Nov 4, 2002
    Messages:
    19,054
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Ratings:
    +7,227
    I agree with True Romance. There's no point IMO looking at one element of the deal in isolation because it's a package, also involving the cost of the replacement vehicle & presumably finance. If that cost is acceptable then do it, if it isn't then say no. It doesn't matter which element of the deal is adjusted.

    I suspect that in any case the dealer has the OP over a barrel to a certain extent, as I'm sure they will know how much finance is outstanding.
     

Share This Page

Loading...