Resale Value What is your car worth? - Page 4

Kremmen · 5th July 2008, 09:29

Interesting comments - thanks.

I know when I bought mine I went to 2 dealers for quotes. The first dealer offered what I considered to be a very poor deal on my 2004 Lexus IS200 SE Auto. Also the Civic quote was almost RRP and they wouldn't budge.

The dealer I eventually bought from paid £750 more for the Lexus and gave me a £1000 discount on the RRP, plus mats, so it was no contest.

I assume therefore that your £180(ish) is by offering a healthy discount off the RRP? I notice that 'Drive the Deal' prices in Auto Express reckon that they can negotiate almost £1400 off the Civic RRP !

NH Dan · 5th July 2008, 09:31

Quote:

Originally Posted by Kremmen

Interesting comments - thanks.

I know when I bought mine I went to 2 dealers for quotes. The first dealer offered what I considered to be a very poor deal on my 2004 Lexus IS200 SE Auto. Also the Civic quote was almost RRP and they wouldn't budge.

The dealer I eventually bought from paid £750 more for the Lexus and gave me a £1000 discount on the RRP, plus mats, so it was no contest.

I assume therefore that your £180(ish) is by offering a healthy discount off the RRP? I notice that 'Drive the Deal' prices in Auto Express reckon that they can negotiate almost £1400 off the Civic RRP !

Alledgedly so, which is quite amusing considering thats more than the dealer would make on the car.

NH Dan · 5th July 2008, 09:32

Quote:

Originally Posted by Topcat

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 !!

NEW civic

Topcat · 5th July 2008, 09:38

Quote:

Originally Posted by NH Dan

NEW civic

Dan we are talking about the difference between part ex and selling it on not new cars, keep up if you can

NH Dan · 5th July 2008, 10:42

Quote:

Originally Posted by Topcat

Dan we are talking about the difference between part ex and selling it on not new cars, keep up if you can

Now now treacle. The thread started about using Glass's guide to get a valuation of ones car. It then drifted to pricing differentials between part exing and buying another car. In the midst of the thread New cars were mentioned which is when i mentioned the profit level on the deal doen earlier in the week. You assumed it was a used car when in fact i stated twice it was a new car. Everyone else seems to have got the jist of it. I dont need to keep up *pokes tongue out* you alright back there???

Topcat · 5th July 2008, 11:06

Quote:

Originally Posted by NH Dan

Now now treacle. The thread started about using Glass's guide to get a valuation of ones car. It then drifted to pricing differentials between part exing and buying another car. In the midst of the thread New cars were mentioned which is when i mentioned the profit level on the deal doen earlier in the week. You assumed it was a used car when in fact i stated twice it was a new car. Everyone else seems to have got the jist of it. I dont need to keep up *pokes tongue out* you alright back there???

Of course I assumed at first you were talking about a used car as that was what we were talking about at the time, you know how dealers make their fortunes buying in low and selling high.

Anyway havent you got some customers to go an rip off today

NH Dan · 5th July 2008, 11:11

touche.

no. I sold a used jazz first thing, made my 5 grand profit and am just rolling around in the used 50's as I type. oh the life.....

Mr JP · 5th July 2008, 12:39

£180 complete rubbish! that's closer to the salesmans own bonus if a new civic was sold. Utter twoddle.

HappyMan · 5th July 2008, 12:54

Quote:

Originally Posted by Mr JP

£180 complete rubbish! that's closer to the salesmans own bonus if a new civic was sold. Utter twoddle.

I think the point being made is that after everything is taken into consideration about £180 is the profit made on a new car!

Mr JP · 5th July 2008, 13:04

if you mean after discounts, freebies thrown in etc then maybe on some instances this would be the margin but in reality most deals are not squeezed as hard and dealers make a lot more than this figure, I know this for certain.

I wouldn't say that £180 is the average profit on new cars sold in one month for instance.

NH Dan · 5th July 2008, 13:17

Quote:

Originally Posted by Mr JP

if you mean after discounts, freebies thrown in etc then maybe on some instances this would be the margin but in reality most deals are not squeezed as hard and dealers make a lot more than this figure, I know this for certain.

I wouldn't say that £180 is the average profit on new cars sold in one month for instance.

You wouldnt, but then you arent a car salesman at a franchised dealership are you? I am.

FWH · 5th July 2008, 13:22

Let´s make sure we do not confuse gross margin and profit.

Profit is of course much lower than gross margin in many businesses.

Mr JP · 5th July 2008, 13:23

Yeah, best friend is a Salesman at Honda though, and I know a lot of salesman through my Dad being in the trade for 30 years.

Like I said if you are saying there is £180ish profit for the dealer after all is said and done including paying staff, bonuses to you guys, taxing and registering cars, and absolutely everything that goes into running the franchise then fair enough, BUT it is misleading to suggest that profit on the car itself is £180 to lead people into thinking that that's the mark up.

Perhaps lying is a strong way of putting it but your certainly being very economical with the truth - or at least if your manager is telling you that's all is made they are shafting you on your commission percentage.

If you still want to beg to differ, why not be brave and scan in and post a copy of a consignment value invoice perhaps?

NH Dan · 5th July 2008, 13:53

Quote:

Originally Posted by Mr JP

Yeah, best friend is a Salesman at Honda though, and I know a lot of salesman through my Dad being in the trade for 30 years.

Like I said if you are saying there is £180ish profit for the dealer after all is said and done including paying staff, bonuses to you guys, taxing and registering cars, and absolutely everything that goes into running the franchise then fair enough, BUT it is misleading to suggest that profit on the car itself is £180 to lead people into thinking that that's the mark up.

Perhaps lying is a strong way of putting it but your certainly being very economical with the truth - or at least if your manager is telling you that's all is made they are shafting you on your commission percentage.

If you still want to beg to differ, why not be brave and scan in and post a copy of a consignment value invoice perhaps?

I never stated at any point that the mark up was £180. Read the thread again and you'll see quite clearly that I sold a car a retained £180 from it.

For you to accuse me of being economical with the truth is actually quite offensive. Bearing in mind I know the margins available on the cars I sell, what margin I have to work with when constructing a deal etc etc.

lennie.c · 5th July 2008, 18:12

Well sold my se1.8 i-vtech plus ishift for £10000 with just 9k on the clock so I considered that was not to bad a deal not perfect but not to sad
But as owners we always lose as thats the name of the game I guess stealer has to feed his kids and also pay his mortgage so on and so on the list is endless
lennie

Dawson · 6th July 2008, 13:26

For what it's worth, my local Honda dealer offered me £10,600 for my Jan 2007, 56 plate Civic Type S 2.2 with 30k miles on it.

lennie.c · 7th July 2008, 16:10

so I guess my deal was'nt to bad but then I saw what my civic was up for just under 12 grand some profit that ..Now I know where the name STEALERS ORIGINATED
Lennie

Pottsy · 7th July 2008, 16:23

Politely please folks.

May I suggest to anyone that thinks that running a franchise dealership is a way to make good money, simply sign the franchise document, rent a premises (in accordance with the franchise) and start raking it in. And no complaining when someone else sets the cost price, the same person sets the selling price, that same person gives you the stock you don't want, and then laughs at you when you complain.

It's not nice.

dave525 · 7th July 2008, 16:36

Quote:

Originally Posted by Pottsy

Politely please folks.

May I suggest to anyone that thinks that running a franchise dealership is a way to make good money, simply sign the franchise document, rent a premises (in accordance with the franchise) and start raking it in. And no complaining when someone else sets the cost price, the same person sets the selling price, that same person gives you the stock you don't want, and then laughs at you when you complain.

It's not nice.

Wise words

J. Derek Riddell · 7th July 2008, 18:55

NH Dan and Mr JP (and perhaps others) seem to totally confuse the terms 'Mark-up' and 'Profit' ...

To many people, they are one and the same, but they are NOT ... 'Mark-up' is the difference betwen the Net buy-in price (to Honda etc.) and the Gross cost (including all the dealers's on-costs) ... 'Profit' is simply the difference between the Gross cost and the eventual Sales price ...

And yes, I'm quite prepared to believe that any dealer - given today's economic situation (at least, in the UK) - will sell any car that is in stock, as long as there is some Profit in the deal ! ...

5th July 2008, 13:23	#73 (permalink)
Mr JP Supporter Rocketship door handle Join Date: 2nd February 2007 Location: Kent, UK Posts: 1,209 Thanks: 14 Thanked 38 Times in 38 Posts iTrader: (2)	Yeah, best friend is a Salesman at Honda though, and I know a lot of salesman through my Dad being in the trade for 30 years. Like I said if you are saying there is £180ish profit for the dealer after all is said and done including paying staff, bonuses to you guys, taxing and registering cars, and absolutely everything that goes into running the franchise then fair enough, BUT it is misleading to suggest that profit on the car itself is £180 to lead people into thinking that that's the mark up. Perhaps lying is a strong way of putting it but your certainly being very economical with the truth - or at least if your manager is telling you that's all is made they are shafting you on your commission percentage. If you still want to beg to differ, why not be brave and scan in and post a copy of a consignment value invoice perhaps? Last edited by Mr JP; 5th July 2008 at 13:31.

5th July 2008, 18:12	#75 (permalink)
lennie.c Supporter Locking Wheelnut Join Date: 4th August 2006 Location: SIDCUP Kent Posts: 111 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	selling Well sold my se1.8 i-vtech plus ishift for £10000 with just 9k on the clock so I considered that was not to bad a deal not perfect but not to sad But as owners we always lose as thats the name of the game I guess stealer has to feed his kids and also pay his mortgage so on and so on the list is endless lennie

7th July 2008, 18:55	#80 (permalink)
J. Derek Riddell [ Drinks with Baboons ] Magic Rear Seat Join Date: 8th November 2007 Location: Stavanger, Norway Posts: 830 Thanks: 15 Thanked 20 Times in 17 Posts iTrader: (0)	Yes - Pottsy is correct ... NH Dan and Mr JP (and perhaps others) seem to totally confuse the terms 'Mark-up' and 'Profit' ... To many people, they are one and the same, but they are NOT ... 'Mark-up' is the difference betwen the Net buy-in price (to Honda etc.) and the Gross cost (including all the dealers's on-costs) ... 'Profit' is simply the difference between the Gross cost and the eventual Sales price ... And yes, I'm quite prepared to believe that any dealer - given today's economic situation (at least, in the UK) - will sell any car that is in stock, as long as there is some Profit in the deal ! ...

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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; Interesting comments - thanks. I know when I bought mine I went to 2 dealers for quotes. The first dealer offered what I considered to ...

5th July 2008, 09:29	#61 (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)	Interesting comments - thanks. I know when I bought mine I went to 2 dealers for quotes. The first dealer offered what I considered to be a very poor deal on my 2004 Lexus IS200 SE Auto. Also the Civic quote was almost RRP and they wouldn't budge. The dealer I eventually bought from paid £750 more for the Lexus and gave me a £1000 discount on the RRP, plus mats, so it was no contest. I assume therefore that your £180(ish) is by offering a healthy discount off the RRP? I notice that 'Drive the Deal' prices in Auto Express reckon that they can negotiate almost £1400 off the Civic RRP !

5th July 2008, 11:11	#67 (permalink)
NH Dan Newton Honda Rocketship door handle Join Date: 31st January 2008 Location: South London,Uk Posts: 1,529 Thanks: 63 Thanked 61 Times in 54 Posts iTrader: (0)	touche. no. I sold a used jazz first thing, made my 5 grand profit and am just rolling around in the used 50's as I type. oh the life.....

5th July 2008, 12:39	#68 (permalink)
Mr JP Supporter Rocketship door handle Join Date: 2nd February 2007 Location: Kent, UK Posts: 1,209 Thanks: 14 Thanked 38 Times in 38 Posts iTrader: (2)	£180 complete rubbish! that's closer to the salesmans own bonus if a new civic was sold. Utter twoddle.

5th July 2008, 13:04	#70 (permalink)
Mr JP Supporter Rocketship door handle Join Date: 2nd February 2007 Location: Kent, UK Posts: 1,209 Thanks: 14 Thanked 38 Times in 38 Posts iTrader: (2)	if you mean after discounts, freebies thrown in etc then maybe on some instances this would be the margin but in reality most deals are not squeezed as hard and dealers make a lot more than this figure, I know this for certain. I wouldn't say that £180 is the average profit on new cars sold in one month for instance.

5th July 2008, 13:22	#72 (permalink)
FWH Super Moderator Civinfo master Join Date: 3rd June 2007 Location: Sweden Posts: 6,469 Thanks: 20 Thanked 84 Times in 77 Posts iTrader: (0)	Let´s make sure we do not confuse gross margin and profit. Profit is of course much lower than gross margin in many businesses.

6th July 2008, 13:26	#76 (permalink)
Dawson Locking Wheelnut Join Date: 7th December 2006 Location: Turriff Posts: 196 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	For what it's worth, my local Honda dealer offered me £10,600 for my Jan 2007, 56 plate Civic Type S 2.2 with 30k miles on it.

7th July 2008, 16:10	#77 (permalink)
lennie.c Supporter Locking Wheelnut Join Date: 4th August 2006 Location: SIDCUP Kent Posts: 111 Thanks: 0 Thanked 0 Times in 0 Posts iTrader: (0)	so I guess my deal was'nt to bad but then I saw what my civic was up for just under 12 grand some profit that ..Now I know where the name STEALERS ORIGINATED Lennie

7th July 2008, 16:23	#78 (permalink)
Pottsy Administrator Civinfo master Join Date: 10th April 2006 Location: Leics Posts: 5,899 Thanks: 26 Thanked 233 Times in 126 Posts iTrader: (0)	Politely please folks. May I suggest to anyone that thinks that running a franchise dealership is a way to make good money, simply sign the franchise document, rent a premises (in accordance with the franchise) and start raking it in. And no complaining when someone else sets the cost price, the same person sets the selling price, that same person gives you the stock you don't want, and then laughs at you when you complain. It's not nice.