Car Valuation piss take?

If its old model fir new model, I'd say that's reasonably fair for 1 year newer too.

If you just wanted to go up a year to an identical car, it would always cost at least 3k so trading in old model, its OK.

Of course its fair, they need to prepare the car again, give warranty to the new buyer, pay all of their staff, overheads, 23% VAT on their profits. It wouldn’t be viable for them to work on €1k or €2k margins.

Sure you’d be lucky to get €17k for it selling it privately, so why would they offer you any more than that? They could easily go on to Donedeal or go to a car auction and buy one for less.

Your paying a premium buying from a main dealer, and now your not happy that they aren’t giving you 90% of your money back for a car you’ve gotten good use out of, that has had mileage put on it, is 6 months older, has one extra owner, and needs to be prepped for sale again.

And just because they are being advertised at a certain price does not mean they are selling for that price. A lot of people negotiate on the price. And car prices have dropped significantly over the past 6 months

Dealer is likely basing the trade-in value on the price he can buy a similar one for and its reasonable for him to do this

e.g. Toyota Auris, 2018 HYBRID SPORT for sale in Co. Westmeath for €17,500 on DoneDeal

Spending 4.5k to move up a year is a big ask so really keeping your own for many more years is the best option. The Toyota service warranty you can avail of is a big reason to keep the car

Welcome to the world of sales people where it's their job to talk from both ends of their mouths. They tell you what you want to hear when buying in order to clinch the sale. Realistically the days for trading up 1 year for a couple of grand are well gone especially when jumping from an old model to a newer model which means it makes very little sense to do so.

If you think your car is worth more then try selling it privately as you will always pay a dealer for the convenience of taking it as a part exchange. Also have you shopped around for a better price? Customer loyalty is rarely rewarded these days and can even be taken advantage of if they think your not looking anywhere else.

Try another dealer who has a similar Corolla for sale and see what they offer.

The car linked above could easily be bought for €15k after some light negotiations.

I’d imagine a car buying company for example would only offer OP a maximum of €15k, if even.

Jeff are you still confusing the price they'll sell a car to you for (21.5k) and the price they will buy one from you (18k)?

There 100% must be a decent margin for them on every car they sell, it's a business with many operating costs they have to cover.

I still think they're being more than fair in their offers to be honest.

Buying a car from a dealership and changing it soon afterwards is always going to be an expensive thing to do.

Yes

More than 3k on many cars but at the 20k type of level then I would suspect 3 to 4k would be normal.

If its 3k, then 23% goes straight away on VAT. So that leaves 2300 or so.

Then they have to pay salesman commission directly from the sale, no idea how much this is to be honest. Vehicles in dealerships are generally financed so there's interest costs for holding it in stock for whatever period they've owned the car.

Out of the 2000 or so left from every 20k car, they have to pay rent/mortgage on the property, upkeep and repair of the property, rates, electricity and heating bills, advertising costs, cleaners wages, receptionist wages, valeting wages, accountants salaries, management salaries, computer costs and provide a warranty.

I'd imagine it costs a few million a year to run a franchised dealership to the standards required so sub 1000 margins on each car won't quite cut it.

If you were trading in a nice 10 year old corolla would you expect to pay 1000 or 2000 a year. Or pretty much full whack?

It's 3000 or 3500 a year for a corolla.

New model. Lower mileage? VAT. Risk. Valet and touch up yours.

4000 about right.

If we get back to normal depreciation in the market, we are talking about 50% in 3 years give or take, 40% for an in demand car and 60% for a less desirable one.

So on a 20k car it's 8k to 12k in 3 years, Toyota are generally in demand so take the lower end and its just under 3k a year. 6 months will be treated as a full year I suppose in the dealers eyes as it may be Sept or Oct before selling again if they do well, and people already have 2024 in their heads. All the figures OP has stated are adding up really, it's a fair enough offer. I'd just keep the current car though, just can't see the logic of the move he is trying to make

Why not keep your car instead of trading it for a newer car?

What’s wrong with the old one?

You asked a question,alot have answered but you don't seem willing to accept that answer.keep at it, maybe someone will give the answer you are looking for, slating the car you are trying to sell doesn't make your case stronger,quite the opposite, you are getting more extra than you first indicated.

It hasn't really lost that much value Jeff, the dealers will have it up at 20+ if you did trade it in. Its the dealer v private premium really, that's all it is.

OK so you've tried another dealer and it's not really going your way.

Realistically your options now are either try another dealer, sell your car privately and go in as a cash buyer for the car you want or keep your car.

I'd be inclined to stick with your own car but it's not my call.

I think you’re what’s known in the trade as a time waster

Op says 4.5 k ?