My A5 is finally arriving in a week or two and time to take my old car for part exchange estimation. I was offered 10 when I first ordered the car in Feb. Now I was quoted 6 for the car as there are some minor paint scratches. I refused and said that I would get the work done myself and that I am not taking less than 9 for the car. I got 4% discount on the A5. What should I do? I know people have got 8% off msrp however we signed on 4%. Any advice would be very helpful
Advice required
1 - 11 of 11 Posts
I don't understand the question; are you talking about %? Surely you agreed a price in part exchange to be given for your car, plus, it seems a fixed % (4) for the discount off the new car? Do you mean you were offered £10,000 for your car in part exchange and they have now reduced that to £6,000?
If that is correct, and the only reason for the reduction is due to some new paint damage, as you say it would seem to make sense to get the repairs done and tell them to stick to the deal they offered.
If that is correct, and the only reason for the reduction is due to some new paint damage, as you say it would seem to make sense to get the repairs done and tell them to stick to the deal they offered.
Hey sorry if I was not clear.
When I first ordered the car in Feb they said that the value of my part exchange BMW 116i 28000 was about 10. However, they could not do a proper valuation until a few weeks before my new car arrives. Now they are saying the value of the car is around 6. A huge jump in value. Obviously not very happy so I want them to increase the value of my discount on my new car from 4%, so that my part exchange would be around the 9 boundary. Is this fair? I have signed a contract at the agreed 4 %, could I threaten not taking the car?
When I first ordered the car in Feb they said that the value of my part exchange BMW 116i 28000 was about 10. However, they could not do a proper valuation until a few weeks before my new car arrives. Now they are saying the value of the car is around 6. A huge jump in value. Obviously not very happy so I want them to increase the value of my discount on my new car from 4%, so that my part exchange would be around the 9 boundary. Is this fair? I have signed a contract at the agreed 4 %, could I threaten not taking the car?
Joined
·
6,346 Posts
I think you could be in a bit of a mess! Value of PX 8 months later is difficult. In say 3yrs you lose say 50% of value so over 8 months I would expect circa 2.5-3k. On a BMW could be more, like yourself many are moving out of them hence the supply/demand factor, + of course the credit crunch and your body damage. I think you are stuck with 4% if you have signed a deal (? Deposit paid?) but I would work on PX or get shot privately .
Sorry if I don't sound too helpful, just a realist!
Cheers
RG
Sorry if I don't sound too helpful, just a realist!
Cheers
RG
Joined
·
714 Posts
Erm ... have you compared against something like Glass's or Parkers to see what a reasonable trade in should be for the 116i? I did a very quick check on whatcar.com and it seems to be suggesting that a basic 2006 116i should be around £8k-£9k trade-in.
Was a part-ex agreed as part of the deal when your ordered the A5 or did you deliberately leave your options open? Might be a lesson to be learnt here: if you sign a contract for a new car and you think trading in yours is part of the deal, make sure you have the paperwork to cover it.
Was a part-ex agreed as part of the deal when your ordered the A5 or did you deliberately leave your options open? Might be a lesson to be learnt here: if you sign a contract for a new car and you think trading in yours is part of the deal, make sure you have the paperwork to cover it.
Joined
·
1,374 Posts
Dealers can only price on what the market is there and then. I traded my last one in at the time of purchase and suffered 3 months of waiting on one car. If I had waited I was warned of around £1500 lower value.
OK... you have agreed a price of the new car with the dealer and he's pretty much obliged to sell the car to you at that price.
Regarding your trade-in, well, if nothing was agreed in writing at time of order, you only have the current offer (you'll never make verbal contract stick!). However... what you can do is to testify that at the time you placed the order, they had set an expectation that was much higher than £6k (i.e. £10k) and on that basis you placed the order.
In this scenario, you should be able to cancel the order and get a refund of the deposit as they did not make it clear that the trade-in value could be a lot less than £10k. In this situation, they are guilty of mis-selling... If they have sold you finance for the car, you have a stronger case because the laws around mis-selling of financial products are much tighter.
Alternatively, tell them that you have taken advice (no need to be specific, sometimes vagueness can be of assistance!) and believe you are in the position as stated in the above paragraph, but would really prefer to come to an agreement rather than cancel and claim a refund on the deposit.
Hope that helps.
Ian.
Regarding your trade-in, well, if nothing was agreed in writing at time of order, you only have the current offer (you'll never make verbal contract stick!). However... what you can do is to testify that at the time you placed the order, they had set an expectation that was much higher than £6k (i.e. £10k) and on that basis you placed the order.
In this scenario, you should be able to cancel the order and get a refund of the deposit as they did not make it clear that the trade-in value could be a lot less than £10k. In this situation, they are guilty of mis-selling... If they have sold you finance for the car, you have a stronger case because the laws around mis-selling of financial products are much tighter.
Alternatively, tell them that you have taken advice (no need to be specific, sometimes vagueness can be of assistance!) and believe you are in the position as stated in the above paragraph, but would really prefer to come to an agreement rather than cancel and claim a refund on the deposit.
Hope that helps.
Ian.
My recent experience...
Very few people are buying second-hand cars right now, which means used prices are terrible. Your trade-in price reflects this. You'd be lucky to sell your car privately for good money. Why not play the market, cancel your order (as per above posts) and go for a nearly-new A5 instead?
I tried to trade my A4 in for a new A5. I was quoted 10k one month, then when I had my finance together and returned a month later, the trade-in value had dropped to £7.5k. I was NOT happy, so tried to sell my car privately. I wasted two further months and the cost of the adverts, as the highest private bid (even on ebay and autotrader) was £5k.
Now, knowing that the bottom has fallen out of used car sales in the UK, I guessed that the Audi garage would be finding it (relatively) hard to shift second-hand A5s. I would get less for my trade-in, but I thought I would be able to drive down the price of a nearly-new car. So, I ignored the trade-in price discussion, and focussed my negotiations on the price to change. It worked! After a couple of days of telephone negotiation, I got a cracking deal (10k on the clock, 9 months old 3.0Tdi, 19" wheels, etc.): price to change £20k (that's around $35k dollars US I think).
I am now the very happy owner of an A5 that cost considerably less than I was expecting. I've spent the difference on a new bathroom!
Don't get pressurised into buying a car (even the mighty A5) for the wrong price right now. It's a buyers market.
Potemkin
Very few people are buying second-hand cars right now, which means used prices are terrible. Your trade-in price reflects this. You'd be lucky to sell your car privately for good money. Why not play the market, cancel your order (as per above posts) and go for a nearly-new A5 instead?
I tried to trade my A4 in for a new A5. I was quoted 10k one month, then when I had my finance together and returned a month later, the trade-in value had dropped to £7.5k. I was NOT happy, so tried to sell my car privately. I wasted two further months and the cost of the adverts, as the highest private bid (even on ebay and autotrader) was £5k.
Now, knowing that the bottom has fallen out of used car sales in the UK, I guessed that the Audi garage would be finding it (relatively) hard to shift second-hand A5s. I would get less for my trade-in, but I thought I would be able to drive down the price of a nearly-new car. So, I ignored the trade-in price discussion, and focussed my negotiations on the price to change. It worked! After a couple of days of telephone negotiation, I got a cracking deal (10k on the clock, 9 months old 3.0Tdi, 19" wheels, etc.): price to change £20k (that's around $35k dollars US I think).
I am now the very happy owner of an A5 that cost considerably less than I was expecting. I've spent the difference on a new bathroom!
Don't get pressurised into buying a car (even the mighty A5) for the wrong price right now. It's a buyers market.
Potemkin
1 - 11 of 11 Posts
Join the discussion
