Resale Value What is your car worth? - Page 3

Kremmen · 3rd July 2008, 06:59

Quote:

Originally Posted by 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?

When I bought mine I was given the choice of red or galaxy. The dealer advised galaxy because it woold be worth slightly more at trade in time.

Having seen a few around now I think a well polished red looks better and I agree that it probably won't make the slightest bit of difference at p/x time.

angie4m · 3rd July 2008, 08:20

Quote:

Originally Posted by Dimplyred

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

Is that true for Orange? I can just imagine the trade in on that in a few years!!!

NH Dan · 3rd July 2008, 10:25

Quote:

Originally Posted by Topcat

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.

TC, I take it from your post that you actually have no idea how much a delaer makes in selling a new car. I'd love to see some of this 'fortune' that is made. Sold a new car yesterday and how much profit do you think was in it??? It will clear, after PDI & Valet approx £180.00 - fortunes.

Topcat · 3rd July 2008, 10:59

Quote:

Originally Posted by NH Dan

TC, I take it from your post that you actually have no idea how much a delaer makes in selling a new car. I'd love to see some of this 'fortune' that is made. Sold a new car yesterday and how much profit do you think was in it??? It will clear, after PDI & Valet approx £180.00 - fortunes.

Really? And you talking about a civic are you? and what did you buy it in for and what did you actually sell it for?

I know a hell of lot more than £180 was made on my civic as I know someone that works for them.

NH Dan · 3rd July 2008, 11:00

Quote:

Originally Posted by Topcat

Really? And you talking about a civic are you? and what did you buy it in for and what did you actually sell it for?

I know a hell of lot more than £180 was made on my civic as I know someone that works for them.

It was a new civic.

Topcat · 3rd July 2008, 11:07

Quote:

Originally Posted by NH Dan

It was a new civic.

Yes of course it was NH Dan

NH Dan · 3rd July 2008, 11:12

Quote:

Originally Posted by Topcat

Yes of course it was NH Dan

1.8 se manual in milano. seeing as I sold it, I work in the delaership and I have the invoice sitting in front of me, what gives you the knowledge to question it?

Oh sorry, i'm lying, it was a totally different car and we cleared £5,000 profit like we do on all of our cars.

Topcat · 3rd July 2008, 11:14

Quote:

Originally Posted by NH Dan

1.8 se manual in milano. seeing as I sold it, I work in the delaership and I have the invoice sitting in front of me, what gives you the knowledge to question it?

Oh sorry, i'm lying, it was a totally different car and we cleared £5,000 profit like we do on all of our cars.

I didnt say you cleared £5000 profit on all your cars now did I, my you have a **** !!!!

Edit Pottsy Don't make the argument personal (forum rules)

NH Dan · 3rd July 2008, 11:45

I was obviously being sarcastic in the light of your 'fortunes' comment and your insinuation regarding the lack of correctness in the level of profit made on selling a new car.

I'm not the one with ****.

Edit (Pottsy) As above.

gjackson · 3rd July 2008, 12:06

I've met some poor car dealers, some rich car dealers and some doing OK car dealers. It's by no means a licence to print money.

The overheads and accountancy involved with dealing in a commodity that in essence starts costing you money the moment you take delivery is never going to be easy.

I got 12K for my ST the dealer then advertised it at 16.5k just in case they got a bite. As soon as the next auction came up they just off loaded it.

ants073 · 4th July 2008, 16:22

Quote:

Originally Posted by Pottsy

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

The UK has the sale of goods act, which makes sellers (not manufactures) responsible for goods or services they sell. It states that goods or services should be fit for purpose and is valid for up to six years from initial purchase (I believe its purchase not complaint, but could be wrong).

Pottsy · 4th July 2008, 16:33

Yes, but the problem is that the supplier is always allowed to repair, and the right to return a car vanishes after a very short period of time.

Holdcroft_Honda · 4th July 2008, 16:34

Quote:

Originally Posted by ants073

The UK has the sale of goods act, which makes sellers (not manufactures) responsible for goods or services they sell. It states that goods or services should be fit for purpose and is valid for up to six years from initial purchase (I believe its purchase not complaint, but could be wrong).

The sale of goods act states the a product or service should be fit for purpose for a "reasonable amount of time". How you define a reasonable amount of time is questionable. I had this debate with T-mobile once.

Going back to something NHDan said, £180 profit isn't doing bad on a new car nowadays.

HappyMan · 4th July 2008, 18:27

The same can be said about pretty much every aspect of our lives when it comes to mark ups. Why does wine cost so much in a restaurant? I know they pay a fraction of the price when they buy it. Why does electricity cost so much? why does gas cost so much? and so on. Everything we buy has a mark-up on it and sometimes it seems from comments from NH Dan and Holdcroft Honda they are a little higher than a car!

The reality is people need to make a profit so that they can continue trading - sadly or greatly we live in a capitalist society!

Kremmen · 5th July 2008, 07:21

I'm not doubting it, but £180 seems very low to keep a franchise going.

When I bought mine the dealer threw in free car mats which at the time cost £60. Not a lot I know but it was done automatically without me asking or haggling.

Is this £180 a short term thing due to the alleged credit crunch or has it been this way for years now ?

I can understand why used cars are so lucrative to dealers as they often command a few K between buy in and sell on.

Topcat · 5th July 2008, 09:16

Well having spoken to someone at a Honda dealership there is no way in a million years the dealers only make £180 on an almost new Civic, maybe a very old used Jazz !!

Dimplyred · 5th July 2008, 09:21

Quote:

Originally Posted by Pottsy

Yes, but the problem is that the supplier is always allowed to repair, and the right to return a car vanishes after a very short period of time.

And it's always a bit of a grey area, knowing how many times you should allow a dealer to attempt to repair, or how long is the time period where returning the car is an option.

NH Dan · 5th July 2008, 09:21

Quote:

Originally Posted by Kremmen

I'm not doubting it, but £180 seems very low to keep a franchise going.

When I bought mine the dealer threw in free car mats which at the time cost £60. Not a lot I know but it was done automatically without me asking or haggling.

Is this £180 a short term thing due to the alleged credit crunch or has it been this way for years now ?

I can understand why used cars are so lucrative to dealers as they often command a few K between buy in and sell on.

around about the £200 is pretty std for that size of car these days but each deal is different, some customers just dont ask for a discount etc so pay retail price, we retain more profit, if another comes thru with an internet quote etc etc then we may need to use more of the margin, swings and roundabouts.

Mats and anything else, increased part ex value, any other goodies or perceived 'freebies' will all be taken from the cars profit and you are right, its not a lot of money!!

With a used car, yes the dealer to an extent controls the price but again, aside from TC's spurious insinuations, this doesnt give us a licence to print money. On top of the price that the car is bought in for goes the cost of any preparation, repairs, renovations. Then add the cost of a warranty. Then take the Vat away from the difference, then take the 'bargain zone' away (again the amount the car may be discounted by, the part ex enhanced by etc etc) and the profit is what is left. Once again, far from the 'fortunes' expected by the man/woman in the street.

ahar · 5th July 2008, 09:25

Interesting guide, and I'm not too surprised at the value of mine as it is not too far off the amout I bought it for in March. However, I've never been worried about trade in values as my approach to buying cars is:

Buy car 2nd hand, generally 2 years old

Use car until it literally falls to bits

Buy another car

May not be a strategy to fit everyone, but it's certainly cost effective. My 206 was £8000 in 2001 and after 100,000 it's probably going to die at the end of the year - just over a £1k a year in depreciation. Wouldn't have been able to get any finance that cheaply!

HappyMan · 5th July 2008, 09:26

It's my understanding that New cars make dealers very little money, it's the second hand cars that make them their money.

I remember many years ago sitting in a rover dealership ( I was young) and talking to the sales man who had just promised to sort out many things on a second hand car I was buying all within the price I had negotiated. I then got speaking to another salesman who was doing mainly new car sales and he said that the 'actual real profit' made on new cars was a joke.

Of course there are incentives and deals from the manufacturer but I know they don't make huge profits out of new cars.

Look at the large dealerships when they announce their profits - it's never very much really!

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This thread is about: What is your car worth?, it's in Buying, Dealers and Servicing at the Honda Civic forum Civinfo; Originally Posted by Topcat and another thing - you dont see the car dealers saying "oh an your car is silver, black etc etc so ...

3rd July 2008, 11:45	#49 (permalink)
NH Dan Newton Honda Rocketship door handle Join Date: 31st January 2008 Location: South London,Uk Posts: 1,527 Thanks: 62 Thanked 61 Times in 54 Posts iTrader: (0)	I was obviously being sarcastic in the light of your 'fortunes' comment and your insinuation regarding the lack of correctness in the level of profit made on selling a new car. I'm not the one with ***. Edit (Pottsy) As above.*

3rd July 2008, 12:06	#50 (permalink)
gjackson Locking Wheelnut Join Date: 5th February 2008 Location: West Yorks Posts: 131 Thanks: 0 Thanked 2 Times in 2 Posts iTrader: (0)	I've met some poor car dealers, some rich car dealers and some doing OK car dealers. It's by no means a licence to print money. The overheads and accountancy involved with dealing in a commodity that in essence starts costing you money the moment you take delivery is never going to be easy. I got 12K for my ST the dealer then advertised it at 16.5k just in case they got a bite. As soon as the next auction came up they just off loaded it.

4th July 2008, 16:33	#52 (permalink)
Pottsy Administrator Civinfo master Join Date: 10th April 2006 Location: Leics Posts: 5,898 Thanks: 26 Thanked 227 Times in 126 Posts iTrader: (0)	Yes, but the problem is that the supplier is always allowed to repair, and the right to return a car vanishes after a very short period of time.

4th July 2008, 18:27	#54 (permalink)
HappyMan Super Moderator Civinfo guru Join Date: 16th August 2007 Location: Poland Posts: 3,594 Thanks: 30 Thanked 91 Times in 85 Posts iTrader: (0)	The same can be said about pretty much every aspect of our lives when it comes to mark ups. Why does wine cost so much in a restaurant? I know they pay a fraction of the price when they buy it. Why does electricity cost so much? why does gas cost so much? and so on. Everything we buy has a mark-up on it and sometimes it seems from comments from NH Dan and Holdcroft Honda they are a little higher than a car! The reality is people need to make a profit so that they can continue trading - sadly or greatly we live in a capitalist society!

5th July 2008, 07:21	#55 (permalink)
Kremmen Krem de la Krem Civinfo guru Join Date: 7th January 2007 Location: West London Posts: 3,096 Thanks: 20 Thanked 25 Times in 24 Posts iTrader: (0)	I'm not doubting it, but £180 seems very low to keep a franchise going. When I bought mine the dealer threw in free car mats which at the time cost £60. Not a lot I know but it was done automatically without me asking or haggling. Is this £180 a short term thing due to the alleged credit crunch or has it been this way for years now ? I can understand why used cars are so lucrative to dealers as they often command a few K between buy in and sell on.

5th July 2008, 09:16	#56 (permalink)
Topcat Supporter Civinfo guru Join Date: 11th May 2006 Location: Middlesex Posts: 2,753 Thanks: 0 Thanked 9 Times in 9 Posts iTrader: (0)	Well having spoken to someone at a Honda dealership there is no way in a million years the dealers only make £180 on an almost new Civic, maybe a very old used Jazz !!

5th July 2008, 09:25	#59 (permalink)
ahar Supporter Wheelnut Join Date: 23rd March 2008 Location: London, UK Posts: 69 Thanks: 0 Thanked 2 Times in 2 Posts iTrader: (0)	Interesting guide, and I'm not too surprised at the value of mine as it is not too far off the amout I bought it for in March. However, I've never been worried about trade in values as my approach to buying cars is: Buy car 2nd hand, generally 2 years old Use car until it literally falls to bits Buy another car May not be a strategy to fit everyone, but it's certainly cost effective. My 206 was £8000 in 2001 and after 100,000 it's probably going to die at the end of the year - just over a £1k a year in depreciation. Wouldn't have been able to get any finance that cheaply!

5th July 2008, 09:26	#60 (permalink)
HappyMan Super Moderator Civinfo guru Join Date: 16th August 2007 Location: Poland Posts: 3,594 Thanks: 30 Thanked 91 Times in 85 Posts iTrader: (0)	It's my understanding that New cars make dealers very little money, it's the second hand cars that make them their money. I remember many years ago sitting in a rover dealership ( I was young) and talking to the sales man who had just promised to sort out many things on a second hand car I was buying all within the price I had negotiated. I then got speaking to another salesman who was doing mainly new car sales and he said that the 'actual real profit' made on new cars was a joke. Of course there are incentives and deals from the manufacturer but I know they don't make huge profits out of new cars. Look at the large dealerships when they announce their profits - it's never very much really!