When you get down to talking about the value of your part ex, they start phoning around "dealers" and try to get the "best" price for your car(normally low). Is this really the case? Do they REALLY phone someone or is it an act? If you aks for more, they say its down to how much they can get for the car.
How, as a customer, can I combat this???
Ta
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Each dealer will operate in a slightly different way.
However this will depend on whether they would want to retail your car themselves, or sell it on through the trade.
If they would retail it themselves, then my guess is that they will work out a price for you based on glasses guide bottom book, then go from there. Before you go and get these, see what your car is "worth" in autotrader and e bay. For autotrader, knock the price down a bit as you'll end up with offers being accepted on most sales.
If it is an older car or very high miles and you're talking about a franchise dealer, they may sell it through the trade. Phone them first without talking about a trade in and see what there policy is. It may be that cars more than 6 years old, and/or with more than say 60k will get moved on through the trade. If this is the case you'll probably be offered, either what they think they will get at auction, or they may get another trader to come in and underwite the car for a value. This means that they in effect have a minimum value for it, which will for the basis for their price to buy it from you.
The above assumes that there is not a trade in promotion. If there is, then watch the prices of the cars you're being shown. Usually the high trade in prices are recouped in the sale of the new/newer used car.
Hugo
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Sorry, I forgot to say...
There are a few franchise car sales people here who will add or correct what I have said above.
H
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I gather a discount is offered these days rather than taking a px?.But will depend on age/mileage.
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Steve
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Hugo's pretty much hit the nail on the head - if it's something fairly young with low miles (under 4 years 60k) we'll probably have a crack at selling it on the forecourt and will bid you something relating to what we think we can retail it at. If it's older or higher mileage we'll stick it straight to auction and so you get offered basic PX price from CAP.
We don't bother with ringing round traders for prices, only time we get an underwrite is if it's something a bit fancy or something that we know would go better through the marques own dealer such as Mini's
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Last time I looked at a px the dealers consistently made silly offers. I sold private for 10.5 against best offer of 8k within two weeks.
I found that when I quibbled about the px value they all wanted to offer finance, when I said I didnt do finance they lost interest. Maybe I looked too scruffy, I could have bought any of the cars I was looking at for cash but dont see why I should pay over the odds and get a poor px.
bmw speciallists were the worst.
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Try www.moreforyourpartexchange.com and let us know if you do any good
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Hi, thanks for the website and the info. My px is under 4 years and quite low mileage. Each time I go to a dealer they pick up the phone and start phoning around, they quote me the price they are given over the phone.
Yet, when I try and do the same thing, dealers want to see the car or quote the Glasses price (which is more than the dealer quotes anyway!).
Maybe I should play them at their own game and say I've had better offers when they talk about the quotes they have!!
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I suggest that you dont talk about P/X prices as they are offset against the selling price of what you are buying anyway. The best thing is to not talk about buying and selling prices but just say how much you are willing to pay to change cars. You then say that you are willing to sign now if they get close and if not you will go elsewhere. Most dealers need to "shift the metal" and most have enough margin in the 2 cars to do a deal. Remember there are loads of second hand cars (or new cars that need shifting)out there so dont be afraid of walking away,unless you are going for something rare or prestigious. The best bet of course is to sell your car privately and then negotiate a good cash deal with no P/X.
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Dealers have to make a living like the rest of us and it seems used car values are low at the moment. The only way open to you if you want the best money for your car is to sell privately. You are then in a position to buy a car cash either privatey again or without the trade price PX offered by the dealer.
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The dealerships that I worked in all really did phone around a few traders to get the best price. Unfortunately it is always low because someone, somewhere has got to make a decent profit selling your car on.
Blue
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J1mbo
If your car is quite new, have you thought of selling it yourself and just being able to knock down the prices on the forecourt?
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I agree, if your car is relatively new i would sell privately.
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