Trading in a car

eamoss

If I have a car which is a 05 and I want to trade it in for a 06 model with about 32,000 kilometers(20,000 miles) on the clock how much would I get for it if it was worth €30,000 when I got it?

I want to know is it better to trade it in every year or wait a few years.

blahblah06

well what car is it LOL

maidhc

It obviosly depends on the make of car.. e.g. a Golf will hold its value better than an Alfa.

Generally though, depreciation tapers off as a car gets older with the heaviest depreciation in year 1 and virtually nothing by the time the car is 7-8 years old. Therefore it almost always makes sense to keep your car for at least 3 years. Often if you keep a car longer than 3 years some dealers wont be all that interesting in taking the car as a trade.

Personally I think selling a 3 year old car is pointless if it has been well looked after and hasn't crazy miles. That aside, with your average enough mileage the car will only have 60k in 3 years time, making it quite an easy sale.

mike65

Why on earth trade in a 12 month old car? Are you working on the belief that you'll get better valve than waiting longer? If so that a delusion. Trading in a nearly new vehicle means you'll take a bath every time unless you've bought
something in short supply and are trading to a more 'common' model.

Mike.

2003yaris

eamoss wrote:

If I have a car which is a 05 and I want to trade it in for a 06 model with about 32,000 kilometers(20,000 miles) on the clock how much would I get for it if it was worth €30,000 when I got it?

I want to know is it better to trade it in every year or wait a few years.

you will lose at least 20% (6K), but be prepared for 25% (7.5K):eek:

The Irish are their own worst enemy for losing money on cars!

Admit it you secretly just want that shiny 06 plate;)

bazz26

eamoss wrote:

If I have a car which is a 05 and I want to trade it in for a 06 model with about 32,000 kilometers(20,000 miles) on the clock how much would I get for it if it was worth €30,000 when I got it?

I want to know is it better to trade it in every year or wait a few years.

Expect to loose quite a bit of money on it. With the Government saving scemes set to mature next year dealers are expecting a bumper year in new car sales. This in turn will mean a large influx of second hand cars onto the forecourts. Alot of people may think "sure I might aswell treat myself to a new car" instead of buying a one or two year old car.

This plus the fact that there are alot of 05 ex-hire fleet cars still about on dealers forecourts so they have to shift these too. These are usually well discounted as they have already made a bit of money off the hiring companies.

My advice is to keep it for at least another year.

knifey_spoonie

If ya would tell me what car it is i could give ya a fair idea.

eamoss

Toyota Prius


So what you are saying is that I should trade it in every 2/3 years?

knifey_spoonie

Your looking at geting about €24,500/25,000 if you trade it into a toyota dealer.So if you want a new prius (06) expect to pay about €6000.

Dilbert75

So at that rate, it will have cost you €120 per week in depreciation for the year.

unkel

Dilbert75 wrote:

So at that rate, it will have cost you €120 per week in depreciation for the year.

Pretty much spot on. That only covers depreciation, so everything else, like fuel, insurance, maintenance, tax, interest, tyres, etc. is extra. I drive an old, very well endowed, BMW 7-series and my total cost of ownership is in the ballpark range of just his depreciation

Hal1

Why go through all that fuss with changing over your '05 model when you have got a perfectly good running motor, am I wrong or right? you will lose your b*llox trading in that '05.

The new year is around the corner and you will see lots of other '05's out there so I wouldn't do it just at the moment or I would have maybe done it if I had an '05 maybe between 6 - 8 months of owning the car.

There's just too much to lose with milage and dealers.

eamoss

But how come on carzone.ie they are only a 1k less then gettin a brand new one?

ambro25

You are assuming carzone prices are (i) market-driven and (ii) the prices at which the cars change hands :rolleyes:

el tel

eamoss wrote:

But how come on carzone.ie they are only a 1k less then gettin a brand new one?

It must be some sort of syndrome that causes people who advertise their precious cars on carzone.ie (and Autotrader.ie) to ask for so much more than the car is actually worth. It seems to me that 'careful lady owners' are particularly self-deluded when valuing their cars, especially when the car is one that might generate a little emotional attachment.

MercMad

You are assuming carzone prices are (i) market-driven and (ii) the prices at which the cars change hands

Exactly !

A common mistake ! Asking price and the price realised can be quite a world apart !

Changing every year is financial suicide unless you are tied into some sort of lease scheme, whereby you are just extending the end date by a year every time, ala Nissan !

You could do it but in the long run you will have paid out quite a lot of cash !

You used to be able to do this about 10 years ago when dealers were eager for sales, they were hungry for the deal. Nowdays these folk are not salesman they are merely order takers !

knifey_spoonie

Eamoss its a bit of a rip off but in reality most of the cost to change is the amount of taxes built into the price.Il do toyotas cause thats what i know.
Corolla 1.4 7,500 odd is tax's which brings the net price to 14k
Avensis 1.6 9,900 is tax so net price is 16,000
Avensis 2.0D4D 13,670 is tax so net price is 17,300

So for cheaper motoring waht needs to be done is a reform of the motor tax system.But that will never happen they make to much money from the motorist.