Trading in a more expensive car for a cheaper or smaller one

Hi

Since I have had good advice on my own issue, I am asking one for the boss !

She has a Nissan Quasqi jeep, 192 that she is looking to trade in for something smaller and cheaper. Reason being is she is moving job so wants something not as expensive that she wont mind putting miles on. Dont ask.

The car has finance on it, I know its hard to sell privatly with this.

Does anyone have any thoughts on trading in a bigger more expensive car for something smaller and cheaper.?

Thanks

Atlantic Dawn

A lot of main dealers will only have stock up to maybe 6 years or so old, it might be hard to get one that will trade it for something they have. If there's finance on it and you want to sell it private you can get the amount outstanding from the finance company and get the buyer to write a cheqe/draft for the amount outstanding payable to the finance company and the remainder of funds to you.

Del2005

They won't do a good deal. There are plenty of places that buy cars now, so try to see what they will offer compared to going for a trade in.

Quin_Dub

https://www.boards.ie/discussion/2058324256/trading-in-a-more-expensive-car-for-a-cheaper-or-smaller-one

It shouldn't really be all that different to a regular trade-in to be honest.

My son did something similar recently - He had a pretty nice car that he wasn't really driving all that much having changed jobs and wanted to free up some cash.

He went to a dealer , agreed a trade-in valuation he was happy with and took a cheaper car plus cash as payment.

The outstanding finance is a bit of a complication , but shouldn't be insurmountable.

listermint

Best bet is to sell privately. And get the finance outstanding on it before setting price. It can be done it isn't as standard fare as a normal sale. You'd have to price the car right to drive interest.

https://www.boards.ie/discussion/comment/121412554#Comment_121412554

Would you know of any?

I did see about a private sale, the littoral first person who came back to me said they did a history check and said its on finance, so no deal.

bazz26

You will always come out the worst financially from such a deal. Lots of dealers buying cars for cash these days so shop around for the best price they will offer you as you don't have to sell it to the dealer your buying another car from. Expect a few low ball offers though.

goochy

A quasqui is not a jeep

WestWicklow1

https://www.boards.ie/discussion/comment/121412931#Comment_121412931

Correct, it's a Nissan.

Vic_08

https://www.boards.ie/discussion/comment/121412592#Comment_121412592

Why did that potential buyer have to do a (paid for) check to find out there was outstanding finance on it?

Not declaring this in the ad is despicable behaviour as you are attempting to sell something you do not own.

You need to clear (pay off) the finance or at least arrange terms with the company and have the paperwork ready to sell, anything else is just making it the buyer's problem.

Buddy Bubs

You'd get something like a 2017/18 fiesta in a straight swap with a dealer, might be some cash your way for a 2016 fiesta for example..can't see you being offered anything that will make you feel like you're coming out well from this.

goochy

No need to disclose about finance in ad you can tell people when they enquire

agent_88

You could try the Merlin car auctions. You put a reserve on it and if it doesn't sell at the reserve it'll only cost you 50 euro.

goochy

If the car being traded in is a car in demand there is no reason why a dealer wouldn't want to pay trade price for it as a trade in and then make money selling it on and making profit from cheaper car too

djan

You can take a loan out to pay off the outstanding amount and then sell private as normal while repaying the loan. Just make sure there's little to no fees for early loan repayment and you'll save yourself at least 1-3k.

https://www.boards.ie/discussion/comment/121412976#Comment_121412976

Hi,

Yes, I have terms agreed to pay it off, why would you not think I did?

I imagine finance is like a mortgage, no? Plus.,how do people sell cars on if you have finance?