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What would happen in this situation? (Trade in)

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  • 11-10-2008 7:47pm
    #1
    Melion
    Banned (with Prison Access) Posts: 10,259 ✭✭✭✭


    Ok, was talking today about this.

    The girlfriend is driving a 08 Hyundai Coupe but wants to get something else in the new year. This got me thinking though, if she went into a dealer and wanted just a basic 1.4 Golf worth 7-8k what would happen to value of her car? What i mean is, her car to a dealer is probably worth 18-19k so what would happen that extra 10k?


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    #2
    L-M
    Registered Users Posts: 23,694 ✭✭✭✭L-M


    You might be lucky to get 5k back, and even luckier if they acually took it back. Not in this climate, in any way, does a dealer want to give away money, and a good seller, for a one year old car, which is going to be a harder sale. Sell it privately, when you sell it, then buy your Golf. Don't even think if doing it your way, you will loose so much.

    Or, just buy a new Golf.


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    #3
    omb0wyn5ehpij9
    Closed Accounts Posts: 16,095 ✭✭✭✭omb0wyn5ehpij9


    Limerick-man wrote: »
    You might be lucky to get 5k back, and even luckier if they acually took it back. Not in this climate, in any way, does a dealer want to give away money, and a good seller, for a one year old car, which is going to be a harder sale. Sell it privately, when you sell it, then buy your Golf. Don't even think if doing it your way, you will loose so much.

    Or, just buy a new Golf.

    +1, totally agree


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    #4
    Melion
    Banned (with Prison Access) Posts: 10,259 ✭✭✭✭Melion


    Its not my car. But she was looking at the new Fiesta due next year and will most likely trade her Coupe in against it.


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    #5
    bazz26
    Registered Users Posts: 51,245 ✭✭✭✭bazz26


    Considering the problem dealers have with selling their own stock at the moment I would doubt that they will go for that kind of deal. Garages are in the business of making money, alot of them are in trouble and will not just hand you over a cheque for €10k. I'd imagine they will simply turn her away or offer her a silly price for her car.

    Either way she will loose a fortune, tell to keep what she has.


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    #6
    Fishtits
    Closed Accounts Posts: 1,382 ✭✭✭Fishtits


    Hyundai Coupe to a Golf 1.4... ?

    Regardless of the money, Golf is a dog, gorilla driving position, radio at shin level, dash reflected in your mirrors at night, cupholder gets belted by your hand between gear changes and steering wheel, (ergonomic disaster) 1.4 drinks oil (acceptable according to VW) etc etc. Don't touch it with a barge pole IMHO. Buy a Corolla.

    PS, yes, driving one...


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    #7
    -Chris-
    Closed Accounts Posts: 12,035 ✭✭✭✭-Chris-


    Fishtits wrote: »
    ...Golf is a dog, gorilla driving position, radio at shin level, dash reflected in your mirrors at night, cupholder gets belted by your hand between gear changes and steering wheel, (ergonomic disaster)

    I haven't experienced any of this in 3 years of Golf driving, driving 2 different models of Golf. What Golf are you driving?
    Fishtits wrote: »
    1.4 drinks oil (acceptable according to VW)

    VAG cars can use up to 1 litre of oil per 1,000 miles for the first 5,000 miles as the engine beds in, beyond that you'd need to get it looked at by the garage. They accept that and we supply a canister of oil with every new car.


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    #8
    Darragh29
    Closed Accounts Posts: 7,097 ✭✭✭Darragh29


    Melion wrote: »
    Ok, was talking today about this.

    The girlfriend is driving a 08 Hyundai Coupe but wants to get something else with lower repayments in the new year. This got me thinking though, if she went into a dealer and wanted just a basic 1.4 Golf worth 7-8k what would happen to value of her car? What i mean is, her car to a dealer is probably worth 18-19k so what would happen that extra 10k?

    I'm hearing this story every day of the week from lads I know in sales. Dealers won't take her car in for a car of lesser value with the way the market is at the moment. She's stuck with the car unless she can sell it privately. No dealer will take this in against a car of half the value. To cut to brass tax, the value of her car has no real worth in the trade in market. It might have a value in the private used car market if she can find a buyer, but I know there isn't a dealer in the country that would take it in on the basis of it being an equity release, which is what would be happening if they ran with what you are suggesting...


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    #9
    Melion
    Banned (with Prison Access) Posts: 10,259 ✭✭✭✭Melion


    Darragh29 wrote: »
    I'm hearing this story every day of the week from lads I know in sales. Dealers won't take her car in for a car of lesser value with the way the market is at the moment. She's stuck with the car unless she can sell it privately. No dealer will take this in against a car of half the value. To cut to brass tax, the value of her car has no real worth in the trade in market. It might have a value in the private used car market if she can find a buyer, but I know there isn't a dealer in the country that would take it in on the basis of it being an equity release, which is what would be happening if they ran with what you are suggesting...

    Why the edit in my post?


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    #10
    Darragh29
    Closed Accounts Posts: 7,097 ✭✭✭Darragh29


    Melion wrote: »
    Why the edit in my post?

    I'm pointing out the reality. Loads of people now are trying this because they bought a car last year that they can't afford this year and dealers are extremely wide to it. I'm not trying to rise you here, but I'm surprised with the way things are at the moment that anyone would even think that this would be do-able.

    One frind of mine in sales has had a car dumped back in his showroom recently because the customer is saying that the engine light keeps coming on, although conveniently it goes off again when he is on his way back to the garage with the car. No fault codes, no evidence whatsoever of a problem, apart from an apparently irrational customer who is saying that the light is coming on and is refusing to take the car back. Car was driven by the garage for a week and not a sign of a problem.

    The general consenus now of the people who are dealing with him is that there is no problem at all, he just wants to revisit his decision to buy the car because he has realised now that he can't afford the car, and has invented a problem with the engine as the way of giving the garage back the car without him having to worry about selling it, thinking he can now wash his hands of the car.


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    #11
    trellheim
    Registered Users Posts: 5,926 ✭✭✭trellheim


    Shock horror SIMI ban trading down to a cheaper car, riots on streets....

    now sports


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    #12
    Melion
    Banned (with Prison Access) Posts: 10,259 ✭✭✭✭Melion


    Darragh29 wrote: »
    I'm pointing out the reality. Loads of people now are trying this because they bought a car last year that they can't afford this year and dealers are extremely wide to it. I'm not trying to rise you here, but I'm surprised with the way things are at the moment that anyone would even think that this would be do-able.

    One frind of mine in sales has had a car dumped back in his showroom recently because the customer is saying that the engine light keeps coming on, although conveniently it goes off again when he is on his way back to the garage with the car. No fault codes, no evidence whatsoever of a problem, apart from an apparently irrational customer who is saying that the light is coming on and is refusing to take the car back. Car was driven by the garage for a week and not a sign of a problem.

    The general consenus now of the people who are dealing with him is that there is no problem at all, he just wants to revisit his decision to buy the car because he has realised now that he can't afford the car, and has invented a problem with the engine as the way of giving the garage back the car without him having to worry about selling it, thinking he can now wash his hands of the car.

    Ok, well she paid for the car out of her own money, no loans so no repayments being paid back. I understand what you are saying though but thats nothing to do with why i posted this.

    The reason i asked was because it was something i had been thinking about. If she went in to a main VW dealer to get rid of her car and get an older car(I gave my '99 1.4 Golf as an example), i just wanted to know what the reaction of the salesman would have been and what would have happened.

    If you had read more of the thread, i said she was interested in the new Fiesta coming out next year which is going to be in around 17k apparently so money isn't important in this situation.


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    #13
    Darragh29
    Closed Accounts Posts: 7,097 ✭✭✭Darragh29


    Melion wrote: »
    Ok, well she paid for the car out of her own money, no loans so no repayments being paid back. I understand what you are saying though but thats nothing to do with why i posted this.

    The reason i asked was because it was something i had been thinking about. If she went in to a main VW dealer to get rid of her car and get an older car(I gave my '99 1.4 Golf as an example), i just wanted to know what the reaction of the salesman would have been and what would have happened.

    If you had read more of the thread, i said she was interested in the new Fiesta coming out next year which is going to be in around 17k apparently so money isn't important in this situation.

    Well fair play to anyone who doesn't have to worry about money right now.

    To answer your question, there isn't a business in the country that is going to hand you 10K cash to take in a car that they can't shift at the moment. The situation in sales from what I'm seeing and hearing from lads I know in the industry has gone past serious and is coming close to criticial.


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    #14
    Melion
    Banned (with Prison Access) Posts: 10,259 ✭✭✭✭Melion


    Darragh29 wrote: »
    Well fair play to anyone who doesn't have to worry about money right now.

    To answer your question, there isn't a business in the country that is going to hand you 10K cash to take in a car that they can't shift at the moment. The situation in sales from what I'm seeing and hearing from lads I know in the industry has gone past serious and is coming close to criticial.

    Ok, thats all i wanted to know. I genuinely didnt have a clue what they would do with regards her car and the difference in value between it and a 99 Golf.


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    #15
    Darragh29
    Closed Accounts Posts: 7,097 ✭✭✭Darragh29


    Melion wrote: »
    Ok, thats all i wanted to know. I genuinely didnt have a clue what they would do with regards her car and the difference in value between it and a 99 Golf.

    I don't work in sales myself so this is just my 2 cents worth. There are some lads on here who are better positioned to give you their view.


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