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Why has the value of my car dropped so much?
I bought a Toyota Aygo from a Toyota dealer in mid January 2022 for £12,800 and now in June it is valued at £9500. Is it legal to obviously overcharge for a secondhand car?
Asked on 13 June 2022 by ann marjoram
Answered by
Lawrence Allan
The value you are given for the Aygo here is likely the trade-in value, which is the money you'd receive from selling it to a dealer who will then list it at a higher price. It is common practice - the car needs to be prepared for sale (which costs money) and the dealer needs to make a profit. Based on the two prices, £9500 for a trade-in value seems fair. If you wanted to sell the car closer to what you paid for it your best bet is to try and sell it privately. There is no law that says a dealer must sell a car at a certain price, it's up to the buyer to do their research.
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Please help me choose my next car. I would like it to have:
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