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Best way to trade down?

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  • 22-10-2008 2:40pm
    #1
    shayser
    Closed Accounts Posts: 1,650 ✭✭✭


    Think I have to sell my 07 GTI, welling up here! :)

    I need the money for something else. 5k left on the loan. Moving out of town, about 10 miles away, so will have that daily commute. Would I be able to sell the car, clear the loan and get something decent for that commute? I'm thinking of diesel saloon.

    I traded a 05 model 16 months ago and the dealer still has it.


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    #2
    Lumen
    Registered Users Posts: 31,084 ✭✭✭✭Lumen


    shayser wrote: »
    Think I have to sell my 07 GTI, welling up here! :)

    I need the money for something else. 5k left on the loan. Moving out of town, about 10 miles away, so will have that daily commute. Would I be able to sell the car, clear the loan and get something decent for that commute? I'm thinking of diesel saloon.

    I traded a 05 model 16 months ago and the dealer still has it.

    You need what money for something else? Your plan involves just paying off the loan and getting a cheaper car, right?

    Go back to the dealer and offer to swap your 07 for the 05 + €5k. ;)


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    #3
    Darragh29
    Closed Accounts Posts: 7,097 ✭✭✭Darragh29


    shayser wrote: »

    I traded a 05 model 16 months ago and the dealer still has it.

    That's your only problem right there...


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    #4
    racso1975
    Registered Users Posts: 5,273 ✭✭✭racso1975


    with it being hard to sell at the moment you should be prepared to take a serious hit you'll prob sell it and clear loan ok but not sure how new a diesel saloon you'd get. I see 04 accords on adverts today for 15g.

    Are ya sure about going diesel given that it's only a 20 mile round trip?

    I understand if ya have to down grade to free up cash but think hard about it as going from drivin a nice fast gti to an older saloon might send ya into a depression :D

    Best of luck anyway but try sellin it privately as the cash will give you a greater negotiation tool if when you go to buy your next car.


    Best of luck.


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    #5
    shayser
    Closed Accounts Posts: 1,650 ✭✭✭shayser


    Lumen wrote: »
    You need what money for something else? Your plan involves just paying off the loan and getting a cheaper car, right?
    Thinking I could go back far enough in years to bag a few grand.
    Lumen wrote: »
    Go back to the dealer and offer to swap your 07 for the 05 + €5k. ;)
    :)


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    #6
    shayser
    Closed Accounts Posts: 1,650 ✭✭✭shayser


    racso1975 wrote: »
    I understand if ya have to down grade to free up cash but think hard about it as going from drivin a nice fast gti to an older saloon might send ya into a depression :D
    Might??? I'm in depression just thinking about it :)


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    #7
    Ferris
    Registered Users Posts: 2,287 ✭✭✭Ferris


    Would you not try to sell privately, its the least painful option, that way you would be able to go to a dealer with cash in hand.

    If you need to sell the car quick just be the cheapest car on carzone and it will sell. If you do this make sure that you have a good ad + pics.

    In saying that the money you will lose on it would probably buy your petrol for a couple of years.


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    #8
    Zube
    Closed Accounts Posts: 1,502 ✭✭✭Zube


    shayser wrote: »
    I need the money for something else. 5k left on the loan. Moving out of town, about 10 miles away, so will have that daily commute. Would I be able to sell the car, clear the loan and get something decent for that commute? I'm thinking of diesel saloon.

    You are going to get absolutely murdered in the current climate. Sell it privately for €25K, pay back €5K and you've €20K left. Buy this 147 diesel, you've got €6K left for whatever you need.


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    #9
    JoeA3
    Registered Users Posts: 7,442 ✭✭✭JoeA3


    a ten mile commute? That's hardly enough distance to warrant panic and sleepless nights over fuel consumption?!


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    #10
    bazz26
    Registered Users Posts: 51,245 ✭✭✭✭bazz26


    I'm thinking there is more to it than mpg, the OP mentioned moving out of town so a guess is that he is looking to free up cash, clear the loan so he can get approval on a mortgage.

    Harder and harder now to get approval on a mortgage.


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    #11
    MarkN
    Registered Users Posts: 4,197 ✭✭✭MarkN


    A GTI covering that distance will be very easy on juice. Having your car as the cheapest on carzone is not enough for it to sell, believe me ;)


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    #12
    ninty9er
    Registered Users Posts: 9,366 ✭✭✭ninty9er


    MarkN wrote: »
    A GTI covering that distance will be very easy on juice. Having your car as the cheapest on carzone is not enough for it to sell, believe me ;)


    Still not shifted the 335??


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    #13
    colorc
    Closed Accounts Posts: 54 ✭✭colorc


    MarkN wrote: »
    A GTI covering that distance will be very easy on juice. Having your car as the cheapest on carzone is not enough for it to sell, believe me ;)

    +1 having your car cheapest on carzone does not guarantee a sale at all, the market is DEAD people are just not buying cars at the mo!!!!


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    #14
    MarkN
    Registered Users Posts: 4,197 ✭✭✭MarkN


    ninty9er wrote: »
    Still not shifted the 335??

    Nope! It's not something I'm going to lose sleep over, my Porsche days will just have to wait a bit longer :)

    Went into Duffys today for something with my car, guy says to me, "you never bought that M3 in the end".. no I said, it's still sitting outside the front door I see too. "But it's had 10k knocked off it".. I said yeh, it should've been that price 6 months ago when I was thinking about it. ;)

    Having the cheapest ad on Carzone ironically used to be the one thing that really would help your sale, now it's just a mess.


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    #15
    frag4
    Registered Users Posts: 163 ✭✭frag4


    Zube wrote: »
    You are going to get absolutely murdered in the current climate. Sell it privately for €25K, pay back €5K and you've €20K left. Buy this 147 diesel, you've got €6K left for whatever you need.
    saw a 2008 gti with full leather 8k miles for 27k euro in the indo yesterday...
    Thats a big hit for 10 months of driving a hot hatch.


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    #16
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    frag4 wrote: »
    saw a 2008 gti with full leather 8k miles for 27k euro in the indo yesterday...
    Thats a big hit for 10 months of driving a hot hatch.

    :s

    That's like a 10-12k drop depending on spec from new. Wouldn't you be disgusted??


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    #17
    frag4
    Registered Users Posts: 163 ✭✭frag4


    very ..cos I got a 2007 gti and was think of a trade-in in 09 for "a change".
    Seems to me the low vrt in the diesels is killing everthing else.


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    #18
    JoeA3
    Registered Users Posts: 7,442 ✭✭✭JoeA3


    frag4 wrote: »
    very ..cos I got a 2007 gti and was think of a trade-in in 09 for "a change".
    Seems to me the low vrt in the diesels is killing everthing else.

    Join the club! Every car is taking huge depreciation hits at the moment, especially larger engined petrols, bad news for you and me!

    On that 08 GTI, spending thousands on optional extras on a new car is one sure way of pissing cash away - leather is 2k on a new GTI, but you'll barely see a cent of that back come trade in time!

    A local dealer had a 08 GTI for sale back in May or June, fully loaded, would have cost 50k or thereabouts new, it sold for in or around 37k, 3 months old.


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    #19
    shayser
    Closed Accounts Posts: 1,650 ✭✭✭shayser


    Not worried about the fuel consumption, the GTI is good on the open road. Would actually save fuel I think, at the moment I'm over and back across a town all day. EDIT: Just thought I could make a saving anyway by moving to diesel. Friend does a 60 miles commute in his Astra 1.7 diesel, €40pw.

    Two things hit right at the same time, one a mortgage. The mortgage is fine, but still need to get my hands on a few thousand. Hoping I could clear the 5k loan balance and pocket another 5k!

    I know nothing's selling at the moment. But would the good price I could get buying not negate the extra hit on the selling. Do mean so sell/buy private, title not the best choice of words.

    These are surely days for records. If I sell for 25k, that'll be around 17k drop in value in year :eek:. And on a car that traditionally held it's value well.

    Only if I have to will I sell this car. Lend us 10k! :)


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    #20
    Lumen
    Registered Users Posts: 31,084 ✭✭✭✭Lumen


    Are you a first time buyer? (property-wise)


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    #21
    cvisser
    Registered Users Posts: 104 ✭✭cvisser


    colorc wrote: »
    +1 having your car cheapest on carzone does not guarantee a sale at all, the market is DEAD people are just not buying cars at the mo!!!!

    i disagree here, people are still buying, i firmly believe in the power of agressaive low pricing and the Internet, it creates showroom traffic, phone enquires and e-mail enquires, we have sold 18 cars in 14 days, purely on price, from all corners of the island, we have taken in no trade-ins or trade-ins low enough we got our price back on them in the Auctions, People are realising that cars have come down in Garages and so have there part exchanges, Everybody has to stop talking down the market & doom & Gloom, There the people who will never progress and will be stuck in a rut. Think positive & Not Negative. PS Garages have to bring down there prices, Some of us have, Shop around and look only @ the cost of Change, Plus the 18 cars we have sold were Retail cars priced from €8 - €15 K, Our bank Manager is very happy with us.


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    #22
    cbyrne
    Closed Accounts Posts: 164 ✭✭cbyrne


    MarkN wrote: »
    Nope! It's not something I'm going to lose sleep over, my Porsche days will just have to wait a bit longer :)

    Whats the details on that 335? Just know someone who's actually looking for one, let me know if its a 'bargain'! PM if you want.


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    #23
    MarkN
    Registered Users Posts: 4,197 ✭✭✭MarkN


    PM sent.


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    #24
    shayser
    Closed Accounts Posts: 1,650 ✭✭✭shayser


    Lumen wrote: »
    Are you a first time buyer? (property-wise)
    Yep.


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