Looking for the BR's educated opinion on this deal :-)
Not concerned about whether the car is the right choice, just whether the relative prices make a good deal.
The car for sale was an 07-plate Toyota Avensis 2.2 D4-D T3-X 5-dr in Met.Blue with c15k miles at a franchised dealer. The price £10944.
The trade in was an 04-plate Honda Civic 1.6 SE 5dr in Met.Jade with c26k miles, in excellent condition and with FSH (last service not at Honda dealer). The trade-in offered was £4944 for a round price to change of £6k.
I have my own thoughts on the deal, but interested to here what others think, especially anyone with access to Glass's Guide/CAP etc ;-)
Cheers
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Now this is totally unsupported by any guides but the avensis price looks pretty keen considering the spec of it and £5k for a 4 year old civic doesn't seem too outrageous.
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May glass's guide says the following
your car ££5550 @ 45k miles or £5625 @ 45k miles if it has the "16" alloy wheels.
Avensis does not book however I can for sure tell you that £10944 is a very good price.
Try and get £5250 for your car esp if it has the alloys.
If no more on your Honda then let them close you on some free servicing or a free GAP (which costs them about £115).
Hope this helps
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Thanks blue_haddock and niceguyeddy, pretty much backs my thinking.
The car was actually for my father (he likes my Avensis). NetworkQ online suggested the Honda may be worth £6010 (iirc).
I went along with my parents to the dealership. Unfortunately the salesman's technique didn't work in this situation. Somehow he made it feel like it was a bit of a rip-off through some of his phrasing and attitude. Rather than politely emphasise the value of the Toyota (not once did we hear that they list at £19k new), we were told such lines as - "I phoned another dealership in the group and they were very interested in your Civic, until I told them the colour at which point they refused to take it" - whether true or not this gets the customer's back up.
No deal. My father would have almost certainly dealt with another £500 on the table (so the extra £250 for the Honda + a free service would have got the salesman close).
Hours later, it gradually dawned that it was probably a pretty good deal - slightly low on the Honda perhaps, but a bit of a deal on the Avensis.
It really was quite odd - I have never walked away from a showroom and started to get *more* convinced about a deal. Usually I realise I have missed something that I should have got knocked off!
Niceguyeddy, thanks for the advice on 'closing' but unfortunately my question was very much in retrospect as this was last Saturday - the Avensis has now sold. Still, Dad's still got the money in his pocket, a mint and reliable Civic, and Avensises are hardly going to get more expensive over the coming months! :-)
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Unfortunately the salesman's technique didn't work in this situation. Somehow he made it feel like it was a bit of a rip-off through some of his phrasing and attitude. >>
Some salesmen just make you feel like that. Don't know how they keep their jobs. I once had one who tried to tell me it was an FSA requirement that he do a pitch about GAP insurance. On a cash deal I doubt that very much.
Niceguyeddy?
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I once had one who tried to tell me it was an FSA requirement that he do a pitch about GAP insurance. On a cash deal I doubt that very much.
We had exactly that said to us too, again on a cash deal. There were also a whole list of questions, allegedly under the FSA banner.
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Good Deal? .... The car for sale was an 07-plate Toyota Avensis 2.2 D4-D T3-X 5-dr in Met.Blue
I saw the deal in question at Inchcape Oxford. It seemed to be about £1500 or so underpriced compared to similar cars even at other brances of the same chain. A check today shows up this one "2007 07 Reg Toyota Avensis 5-Dr 2231 cc 2.2 D-4D T3-X Bentleys Toyota Warrington Limited " for £12487.
... who tried to tell me it was an FSA requirement that he do a pitch about GAP insurance.
www.click4gap.co.uk/newsItem.asp?id=33
" ... Commission-hungry salesmen are making new car buyers sit through sales pitches for insurance by falsely claiming that Financial Services Authority rules require it.
Several buyers have reported the trend. As they sign for their new car, the salesman tells them that recently introduced FSA rules require that they tell them about gap insurance. The FSA told Guardian Money this week that no such compulsion exists. ..."
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"Some salesmen just make you feel like that. Don't know how they keep their jobs. I once had one who tried to tell me it was an FSA requirement that he do a pitch about GAP insurance. On a cash deal I doubt that very much."
Now then now then ... Our thinking on the GAP ref cash situation has always been we as a dealer are under an obligation to inform all of our customers cash or finance about GAP ......... we were under the illusion that it WAS a FSA requirement (probably told by our manufacturers training people)
however after reading the JBIF posting I will come Monday be making a call to double check.
but imagine the situation in this "lets see who we can blame / sue culture" a chap buys a car cash no one informs of the GAP product and the car subsequently gets written off ... would he try and sue the supplying dealer for not making him aware of GAP ... far fetched and dramatic you may say but entirly possible ?
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Calm down. Calm down.
I thought the point of GAP insurance was that if you financed a deal and the insurance didn't entirely cover the claim in the event of a loss, the GAP would cover you for what you still owed the finance company. If you pay cash you lose, but only to yourself, as it were.
To the extent that the FSA enters into it at all, I'd have thought that's because the FSA regulates the sale of insurance products. Not otherwise.
As we know from the floods last year, some people don't insure the contents of their houses. Who do they sue? Cant see it, eddy. It's just a way of trying to get a sale of the product, I think, but I'm sure people will want to know what you find out tomorrow.
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niceguyeddy said : >> however after reading the JBIF posting I will come Monday be making a call to double check. >>
Come on, eddy. Where are you?
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Come on eddy. Where are you?
Given the credit crunch, the poor man's probably still at work trying to earn a living.
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Given the credit crunch, the poor man's probably still at work trying to earn a living. >>
Not more GAP policies sold, surely?
(Joking. I can't remember the symbol.)
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Hmmmmmm like asking a polotician a straight question and hoping for a straight answer...
Asked several of our "experts" ( I dont get involved in this side of the business anymore) ref the FSA v GAP question and as far as they were concerned that under FSA we as a dealer have to make our customers aware of GAP along with proteced payment insurance and other releative insurance products.... like your pension man we must do a key facts sheet also !! (which I wasnt aware of)
BTW GAP insurance can be also purchased by cash customers as you have 2 different types ... the finance type which covers the shortfall and the Back To Invoice kinda GAP which does as it says on the tin.
So none of the wiser really however my personal take on the situation is that ALL buyers should be told about the GAP product .... Whys that then I hear you asking .... well over the last few years I have seen lots of people that have benefited from their GAP cover after their car has been written off .... you should see the releif in their faces when GAP does what it says it will do..... also its the only insurance that I as a motor trade person would buy along with all of my colleauges so if we would buy it it must be good LOL. ........ however you can either pay what the dealer quotes or shop around either way just buy it
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£9,125was £9,500Details
£13,682was £14,107Details
£8,085was £8,302Details
£9,980was £10,395Details
