can i downgrade my car

O

Olly64

Guest
i bought a brand new car in 2005 but my circumstance have changed and i now want to buy a house but i have a mtor loan and want to try and reduce this as much as i can, can i trade in my 2005 for a 2001 or 2002 and get cash back? do motor dealers do this?
 
I never heard of main dealers doing this but you could always try and sell the car privately, reduce the size of the loan if the terms allow this, and then buy a lesser valued car.
 
I doubt that motor dealers would be keen to do this. They'll more than likely try to sell you the older car while advising that you sell your current one privately if possible.
 
The main dealer i worked for did special offers from time to time including "cash back offers".

Ring around is your best bet i suppose.
 
is selling it privatley a bit dodgy, what about cheques cancelling and all other stuff that can go wrong
 
Olly64 said:
is selling it privatley a bit dodgy, what about cheques cancelling and all other stuff that can go wrong
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You will get more by selling privately, and you will pay less by buying privately (the garages make money on the bid/offer spread!). Insist on payment by cash or banker's draft...no cheques.
 
Olly64, We would do that and have done many a time only thing is your prob better off to go to the dealer that you bought the car off new.

We wouldn't be able to give much of a warranty on a 5 or 6 year old car but we are more than happy to take it off you if you did buy it off us and are buying another car off us again. We will not buy back for cash only and your choice of cars are sometimes limited.

Worth a shot.
 
my sis bought a Avensis Verso Sol in '03 and went back to Toyota dealer a year later to downgrade to a '04 Corolla Verso. AFAIK, she got some money off her finance package.
Stupid decision really as she then realised the Corolla Verso was too small and in '05 went back to the Avensis Verso, but she had lost that much money in teh 2 trade ins, she could only get the Luna
 
Hi Olly64

I recently did just this with my wife's car with a main Nissan dealer.
She had a 2005 Peugeot 206 but could not take to it at all and wanted to go back to her previous car, a Nissan Micra. The model she likes is the 2002 and before so we had to downgrade.
You will get more by selling privately but you need to have plenty of patience.
I had the 206 on Carzone for about 8 weeks and didn't get a single phone call.
Most dealers were willing to do a deal but offering stupid money so when the Nissan dealer offered a decent deal I grabbed it.
You will find that only main dealers are likely to offer a deal as they are the ones that can afford to give you the cash back.
Ring around all dealers that have the car you're interested in and ask the question - have a figure in your head that you'd be happy with before ringing
Good luck
 
Squonk said:
You will get more by selling privately, and you will pay less by buying privately (the garages make money on the bid/offer spread!). Insist on payment by cash or banker's draft...no cheques.
Click to expand...


Can't even be too sure of drafts these days either
 
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