What is the future for trading in cars ?

[Mumha]

I've accepted now that I won't be able to trade in my car without it costing double what it did last year. I've decided to hang onto my 08 until next year, and start putting away extra money over the coming year to offset the bigger depreciation on the car. (I hope to get a new car next year).

The reason I didn't upgrade this year is that while it usually costs €3K to upgrade, it was going to cost me €6K and that was because I was such a loyal customer ! Other garages didn't want to know about a trade-in. I might have paid the €6K but no one could tell whether I would be caught for another €6K next year. Does anyone out there have any ideas of where things are going ?

It appears to me that the Dealers want the motorists to take the hit i.e. I was being charged an extra €3K but the price of the new car hadn't dropped at all. Surely the solution is for the price of New and Used cars to drop ?

 

[Frank]

Think I will stick with my 01 car.

Just got a bit of work done and 4 tyres.

Worth about 5 grand should be suffering less than 3k depreciation a year.

Will probably only do about 2k miles a year on the car now that I am in a company van all week.

What is the logic on changing every year?

Why not keep this one 2 years see what the cost of going up a year is if you want to keep in waranty and away from nct.

 

[iggy]

"What is the logic on changing every year?"
I have to agree with you there Frank.
My `97 car is as good as the day I got it, I bought it 10 years ago and never had one iota of trouble with it.
I have a few posts on here as I was thinking of changing to a Celica ( mid life crisis ) but any new car I`ve been in is honestly no better than the one I have. 115,000 miles on it now and I can guarantee it starting on the button every day.
Mumha......hold on to your car.

 

[rmelly]

It appears to me that the Dealers want the motorists to take the hit i.e. I was being charged an extra €3K but the price of the new car hadn't dropped at all. Surely the solution is for the price of New and Used cars to drop ?

Try selling the car yourself and see how easy it is to get the price you want/expect.

If (and that's a big if) you sell it then you'll be in a much better position to get a discount.

 

[DoshDaisy]

Getting a new car every year is a "mugs game". How do I know? Well, I did it last year but never again! Keep the car 3 years minimum to see some value in the money you paid. Remember depreciation on a car is at it's highest in the first year - but Year 3 usually sees a balancing / "levelling" out of the heavy depreciation in the first 2 years.
Don't waste your money - hold onto the car until it's (at least) 3!

 

[Mumha]

Think I will stick with my 01 car.

Just got a bit of work done and 4 tyres.

Worth about 5 grand should be suffering less than 3k depreciation a year.

Will probably only do about 2k miles a year on the car now that I am in a company van all week.

What is the logic on changing every year?

Why not keep this one 2 years see what the cost of going up a year is if you want to keep in waranty and away from nct.

The reason we change every year is that we have a Ford "docket" which entitles us to a discount, so changing normally only costs €3K a year (it would be even less if I sold privately).

 

[Mumha]

Try selling the car yourself and see how easy it is to get the price you want/expect.

If (and that's a big if) you sell it then you'll be in a much better position to get a discount.

If I was able to sell it privately, I would probably buy something for 3K and bank the rest for a year and see where the dust settles.

 

[rmelly]

If I was able to sell it privately, I would probably buy something for 3K and bank the rest for a year and see where the dust settles.

That's my point - if you can't sell it, how do you expect a dealer to sell it after trading in?

 

[Sandals]

Can I ask whats a Ford docket. I have changed my car yearly (Ford). Found best value to change dealer/garage every year. In saying that the car was never new, just a year old number plate. Last year just couldn't justify buying a Ford again plus I needed a larger boot. Got a Kia Rio saloon. Can't fault it yet. Looks and drives brillantly.

Why not have a new car every year? I love the number plate. Some people drink/smoke, buy shoes/handbags/holidays etc the price of changing a car in a couple of months. The comfort and feeling of having a new car, no changing tyres, no break downs, no servicing etc.

 

[RS2K]

I think the docket is the Ford Employee discount scheme perhaps?

I think Kia's will have relatively poor retained values.