Trade in Values

GSX1300R · Sep 21, 2016

Ive had my 2015 140 SE for about 18 months now and done 10000 miles. We decided that we would like a new T6 205 HP and auto box. I bought mine from Sinclairs in Cardiff and although the sale didnt go exactly smoothly we did get our Cali and we love it. I have a rough Idea how much it is worth obviously and negociated a discount of 8% off a new one. The salesman who we hadnt dealt with before asked us if we were thinking about trading ours in and I thought that would make it easier although we didnt have too.
He asked me to send pictures which I did and waited for him to get back to us.
A day went by and I didnt hear anything so I emailed again and the following day he sent me the Valuation.

Wait for it £32000 and he thought he was being generous.. Erm I dont think so.
This is a Parkers Valuation.
I will be selling it privately me thinks and buying from someone who dosent want my arm as well.
This would go on the forecourt for £42000 and make them a quick £10000 profit.
I understand they have to make a profit but this is taking the whotsit.
They must think we are all a bunch of numptys.

johnv · Sep 21, 2016

do you still get the 8% without the trade in? That's pretty good going at present if so, even the internet companies (who still list them, eg autobid) seem to only manage 7% , and then they charge about £1k commission. The best I could manage was 5.

Blueeyedboy · Oct 14, 2022

Sinclair Cardiff offered me a dreadful price to sell mine earlier this year. Again 10k profit.
I told the manager it’s his loss and it sold straight away.

willwander · Oct 14, 2022

Not uncommon. 7 year old van. They probably won’t sell it direct but will move it on via auction house.

pjm-84 · Oct 14, 2022

Agree auction house. Wait for it...... 10k is not a lot for a business due to the cost to operate, wages, insurances etc.

I know of an LR dealer that invested £20m in a new facility and that oddly has to be covered somehow, along with the wages, insurance, energy, business rates, and "free" coffee......

I have a Client that is facing electric costs of £1.2m

westfalia · Oct 14, 2022

GSX1300R said:
Ive had my 2015 140 SE for about 18 months now and done 10000 miles. We decided that we would like a new T6 205 HP and auto box. I bought mine from Sinclairs in Cardiff and although the sale didnt go exactly smoothly we did get our Cali and we love it. I have a rough Idea how much it is worth obviously and negociated a discount of 8% off a new one. The salesman who we hadnt dealt with before asked us if we were thinking about trading ours in and I thought that would make it easier although we didnt have too.
He asked me to send pictures which I did and waited for him to get back to us.
A day went by and I didnt hear anything so I emailed again and the following day he sent me the Valuation.

Wait for it £32000 and he thought he was being generous.. Erm I dont think so.
This is a Parkers Valuation.
I will be selling it privately me thinks and buying from someone who dosent want my arm as well.
This would go on the forecourt for £42000 and make them a quick £10000 profit.
I understand they have to make a profit but this is taking the whotsit.
They must think we are all a bunch of numptys.

What happened in the end?

pjm-84 · Oct 14, 2022

Just checked the business rates on the above premises mentioned which is a little under 6k a week or £310k a year

drdaveboycali · Oct 15, 2022

yes true but a little less profit would still pay some of the bills as nothing wont

Ch1pbutty · Oct 15, 2022

pjm-84 said:
Agree auction house. Wait for it...... 10k is not a lot for a business due to the cost to operate, wages, insurances etc.

I know of an LR dealer that invested £20m in a new facility and that oddly has to be covered somehow, along with the wages, insurance, energy, business rates, and "free" coffee......

I have a Client that is facing electric costs of £1.2m

£10k would leave a big hole in my pocket as we also have bills to pay at home. Have always sold privately for this reason.

Car manufacturers are always investing in new premises, factories, battery recycling plants etc; they often receive subsides as the new projects will generate a lot of local employment. (Ie - Aston Martin shifted a lot of its production from Gaydon to South Wales and received a government subsidy for doing so to boost local economy.);

pjm-84 · Oct 15, 2022

Agree but your pocket is not the same as a business so your judgement differs and you can't draw comparsions between the two.

Investment in new premises is because of the market (i.e public) demands for that market. Is a Bentley car dealer going to be the same market as Dacia? If you're spending 100k on a vehicle should it be a shed in a muddy industrial estate that no one can find? Similarly if you're selling second hand vehicles at £1000, you're not going to spend £20m on your premises

AM - This is investment when trying to revalitse areas where unemployment is high. Change is disruptive to business and the Government subsidy is a small part of that consideration. i.e no point having an incentive if you can't operate. The incentive will soon evaporate. Also land values / logistic local workforce, skills, etc are more important.