2 questions
1) i have an 06 new civic and we are cutting cost so want to trade in our car and get cash back as well.
does this sound feasible at a main dealer? never done it before so just checking
2) what car to get?? like reliability but only want to spend £4k really. would an 01 old civic be better to have than a 04 megane for example?
(oh, i do want a safe car)
Edited by Pugugly {P} on 05/11/2007 at 23:26
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To answer the question related to selling to a dealer, this is possible but there is no incentive for the dealer to give you a good price on your car or the one you want to buy. All your eggs are in one basket and they will know that.
You would be better to sell private and then go to the dealer for your new car with money in your back pocket and a better position to haggle from
Carse
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When i worked for toyota i have taken a car in PX that exceeded the cost of the new car - we simply took his car off him and gave him the new car and a cheque for the difference.
I don't think it's something every dealer would do and as Carse says they almost certainly won't give you the best price for your or the best price for the new car.
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If '06 Civic is straight and with no 'story' to it then it will be snapped up by private buyer - try Autotrader.
Edited by Aprilia on 05/11/2007 at 19:29
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that's what i thought.
it was in autotrader for 3 weeks online and 1 week in the mag and i didn't get 1 single phone call.
2006 18k 1.8se, paid £14,500
£10,900ono
dealers are doing them for 12k
many private sellers had there's in for more
i think everyone is skint at the minute
hence i need to go to a dealer.
they will be making there mark up on the car a buy and with my car being 1 owner low mileage they will maybe sell mine themselves as well making aanother mark up.
i was expecting 10-11k px
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Buyers are traditionally reluctant to buy at year's end, because they expect to get the same car cheaper in Jan/Feb once the new reg is out.
Also, buyers may be suspicious of a year-old car being sold privately. Put yourself in their position - you would (or should!) ask yourself why the car was being sold too. At £1000 less than dealer's forecourt price, they may well be prepared to pay the extra for the reassurance of a warranty and comeback to the dealer if problems arise.
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You could offer the car to a smaller dealer on sale or return.
Agree with the dealer what you expect for the car before hand, he will than sell it on your behalf with his "Mark up" loaded into the screen price.
I have done this twice now at two differnt garages, as long as the car has no history it will sell as long as both of you are not greedy.
You get what you want, the garage has no outlay or risk as you have provided the car for sale.
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Are you actually going to acheive your objective, to reduce costs?
You're selling a relatively new car after a short time so are bound to take a hit on depreciation - with your reduced "capital" you're then going to buy a cheaper car but which will also have significant depreciation to start with.
Consider keeping the Civic and changing it when it's 5 years old rather than 3.
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i can't keep it i'm moving house and have to pay off the car loan.
car loan has £10800 with balance to pay off.
i have £4k to by a car outright after that
so new plan is find a car for £4k and trade in and get 6k back cash back
i will be neither up nor down
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I'm not sure I (or you) understand your maths. If you want to buy a car for £4000 and get £6000 cash back from the sale of your Civic it implies that you own £10,000 worth of your Civic. Do you? Or will you end up with a £4000 car and still have to make repayments on the Civic?
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L\'escargot.
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Are you sure you can sell the car and not repay the loan? If the loan is on the car, then an HPI check will show up the outstanding finance. Or is the loan just an unsecured loan from a bank?
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Last time i tried to pay off a car loan early they wanted a fee for the privilege. I don't know if your loan company will demand one but check it out.
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correct i see my civic worth £10k, don't you?
and its just a standard bank loan no finance on the car.
i asked for balance due if i wanted to pay of the loan and it was that amount.
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Spencer,
You tried to sell the car privately for £10,900 which in effect in everyone?s mind who may have been interested is £10,500. And in your own words got NO interest.
Therefore why do YOU believe the car is worth £10k is it based on current market forces or the fact you paid significantly more for it a year ago. If the latter you have a very painful lesson approaching.
And so you know I am not just picking, I bought a 6 month old Ford Ranger for £15k 2 years ago and 1 year after owning it I was offered ?trade in? (wait for it.....) £7,500
Carse
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Correct me if I'm wrong, but .......... you've got an existing bank loan for £10800 on which you will have to continue payments, you're moving house and I assume you'll get a mortgage for this at an interest rate lower than the bank loan. Wouldn't it be cheaper to take out a mortgage for £10800 more than you need (i.e. decrease your deposit by £10800) and use this to pay off the bank loan. The money which would have been used for payments off the bank loan would then be used for payments off the mortgage. Provided you arrange your mortgage payments such that the £10800 is paid off in the same time as the length of the original bank loan you ought to end up quids in.
I think it's a fair assumption that your mortgage rate of interest will be lower than your bank loan rate of interest.
The matter of converting the Civic into a £4000 car and £6000 cash is a separate issue.
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L\'escargot.
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i 100% need to pay the loan off.
currently repaying £280 a month which could be paying on the new mortgage.
i don't want to get in technicality's but the market for my car is 10-11k private and 12k from dealers.
so i am sure i can get 10k
my original question was though
reliability on a 2001 civic? whould that still be btter than a 2004 megane as an example
ie parts needing replacing still more likely to occur on the megane?
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my original question was though reliability on a 2001 civic? whould that still be btter than a 2004 megane as an example
Probably not a lot in it. I would go for the Civic if it was me. Renault went through a very bad patch from 2000 to 2003. By 2004 they seemed to be pulling out of it.
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i know updates are good to hear so here's what happened:
i took my new model civic to the dealer i bought it from (springfield honda - highly recommended in the north east).
i saw an old model 2002 civic up for 5k, 1.4 max 5 doors and 45k miles.
no comparison to my current car but i was trying to save money!!!
they offered 10.5k for mine which was good but i new i could get more.
i asked for 11k for mine and i would pay 4.5k for the old civic
they said 11k for mine and 5k for the civic i said maybe i should look at some cheaper cars then, and they said ok 4.5k for the old civic as well.
so all in all a good deal, obviously it wasn't quite as nice a car but i am happy with the deal.
I do have a random question after reading the car by car breakdown of the old model civic 2002 model...... is the 1.4 engine chain cam or belt?
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