Resale Value What is your car worth?

[Topcat]

Buying a new car is a rip off we all know that believing that a civic will hold its value is just wishful thinking as soon as you drive off that forecourt you have thrown money down the drain its a fact.

What really gets to me is the way the car dealers look up what the car is worth give you a ridiculous price and then stick it back on the forecourt with another £2k plus on the price.

The best advice is to keep the car in good condition with a service history and sell it privately so the dealers dont make money out of you both ways.

[Dimplyred]

Originally Posted by u05rdh

I got offered £13,250 trade in for my 57 plate Type-R. When I laughed and had a look at car prices on the net I could see the second has ones in the dealers forcourt were going for about 14,500 which mad me sad!

Also garages don't care that you payed £950 more for rage alloys they value them the same!!

Optional extras rarely add too much to the trade in price.

[Topcat]

Originally Posted by Dimplyred

Optional extras rarely add too much to the trade in price.

Exactly another rip off - especially when you have to pay for a spare wheel and floor mats,it all adds up !!

[Unknownsoldier]

I think some extras will add to the ease of selling (not quite the value), like the spare wheel, I would rather buy a car with one than without and if it of a similar spec I would possibly consider the car with......

Tom

[Topcat]

and another thing - you dont see the car dealers saying "oh an your car is silver, black etc etc so that adds a bit more on to the price". Oh no all colours are given the same value why is that then when we have to pay extra to get the colour we want?

[Dimplyred]

Originally Posted by Unknownsoldier

I think some extras will add to the ease of selling (not quite the value), like the spare wheel, I would rather buy a car with one than without and if it of a similar spec I would possibly consider the car with......

Tom

Yes you're right, so would I but that is of little comfort at trade in time when you've spent a couple of thousand pounds on the new price on extras.

As has already been said, best to sell privately but it is such a chore sometimes, when you get the tyre-kickers and those who have no intention of offering anywhere near what you are asking.

[Unknownsoldier]

Hmmm, your right there, however some dealers then say, "ooh thats not a popular colour......"

Tom

[Dimplyred]

Originally Posted by Unknownsoldier

Hmmm, your right there, however some dealers then say, "ooh thats not a popular colour......"

Tom

But when you bought it, it was the absolute 'to die for' colour and everyone was clamouring for it.

[Topcat]

Originally Posted by Unknownsoldier

Hmmm, your right there, however some dealers then say, "ooh thats not a popular colour......"

Tom

But it is when your deciding whether to order it originally

[Pottsy]

Originally Posted by Topcat

What really gets to me is the way the car dealers look up what the car is worth give you a ridiculous price and then stick it back on the forecourt with another £2k plus on the price.

TC - it's not often I'll stick up for dealers - but by how much do you think they should mark the car up by, if 2K is too much?

[Topcat]

Originally Posted by Pottsy

TC - it's not often I'll stick up for dealers - but by how much do you think they should mark the car up by, if 2K is too much?

I dont think I have ever seen you say a bad word against any dealer especially where Honda are involved.

If the dealers make a fortune out of you first time around, and you go back to them to let them make another fortune out of you again then they should at least give a fair trade in price and make a tiny amount on your used car, £500 max I would say to cover their paperwork.

[Pottsy]

TC,

Life doesn't work like that. They also have to pay for:

• Salaries
• Rent
• Finance on the car while it is in stock
• Service
• Valet
• Demonstrators
• Electricity
• Rates
• Water
• Sometimes a warranty
• And so on.

Once you add it up, a dealer doing a bit of volume on family cars will need to clear about £1200 to £1500 a car to break even. What often happens is that they'll have a bit more in the price - either to make the trade in on the old car look better, or if there is no trade in, to offer a £500 discount.

To expect a business to profit from a customer just once and then do everything else in the future at less than cost, is expecting just a bit too much. You wouldn't expect it of a restaurant or a shop selling DVDs, so why a car dealer?

As I said - it's all optional. Simply sell privately and buy privately. A lot riskier, but you pays your money....

[Pottsy]

Originally Posted by Topcat

I dont think I have ever seen you say a bad word against any dealer especially where Honda are involved.

I am careful to make sure I only state facts - and I have only had dealings with 3 dealers.

Francis Honda: I have stated that I was happy with their sales team, but after they charged more than the going rate for servicing and their service manager was rude to Jayne I very publicly went to Lookers Derby.

Lookers Derby: A whole thread on how they made a total mess of the service, causing all the oil to fall out. A couple of posts also on how they fitted the incorrect wipers.

Holdcroft Honda: Only bought a car off them, but they were excellent.

Apart from that, all I've done is set up a wiki where people can moan about individual dealers, and a whole forum where people can moan about how dealers fix or don't fix their faults.

If I really did want to help Honda out, I'd just hit the big delete key.

[Topcat]

Originally Posted by Pottsy

TC,


You wouldn't expect it of a restaurant or a shop selling DVDs, so why a car dealer?

.

Except if your served a poor meal you can refuse the bill, if your DVD doesnt work you take it back an get an exchange, so why a car dealer?

Because they make a huge profit by over charging for their cars and then if it goes wrong you have to learn to live with it!!

And we will stop there or else I will end up being put with "Unhappy Eddie" as most people that have a moan end up being put there eventually!!

[Pottsy]

TC, you make a valid point. The finances of buying and selling cars will never change, nor will the mark-up that dealers need to impose in order to offer their service.

However the UK does need US-style lemon laws, as you have found out.

[Unknownsoldier]

I agree, if you get sold, as TC was, a crappily built car, then you should have the right to take it back, I mean at the end of the day, Honda will just strip it and re-use parts elsewhere and so wouldn't lose much anyway......

Tom

[Dimplyred]

They won't strip it, any cars that are accepted back after being rejected, will be repaired and then resold through the dealer network.

[u05rdh]

Yeah car dealers have a lot to pay for. The money the make is not spend on produt infomation or training days for there staff.

But whhat all the money they make when you go in for a service. They spend 20 minutes serviceing you car with costs them about £30 and you get a nice bill for £200!!

[pcr]

About trade-in.
For me, the value of the car is the private-sale price. However much the dealer offers below that is what I consider I am paying him to save me the hassle of selling it privately. If you think it's too much, don't do it.
One other thing, I would never conceal a fault from a private buyer, whereas a dealer will usually take the car regardless.

[Topcat]

Originally Posted by pcr

I would never conceal a fault from a private buyer, whereas a dealer will usually take the car regardless.

Exactly why I couldnt sell mine civic privately, the dealer didnt even look mine over when he took it off me all he asked is "is it scratched"? He sold it the very next morning, so much for their used car checks !!!!