I'd like to change my Mondeo. It's a 2005 05 Ghia X with 37k miles, FSH and factory optional 18" alloys, Sony 6cd (in dash) and xenon (HID) lights.
It;'s the 2.2 diesel so it has pretty good performance and economy and low road tax.
Most trade guides put it around £7k as a trade in. I took it back the car supermarket I bought it from and was offered £5.5k - this is quite a loss on a car I paid them £12.5 for 2 years ago, although not as bad as the fact the list price was around £22 k then.
I really want a 2.7 XJD Jag - local Jag dealer has one he wants 18.5 k for but he only wants to offer a similar trade on my Mondy.
Am I expecting too much or do I just need to be more pushy?
As an aside, I often wonder how magazines and guides calculate residual values especially on stuff like Mercedes and BMW - I have never known anyone pay list for these cars - but it that taken into account in the retained value I wonder?
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Sounds like a nice car you have for sale. It is, I'm afraid a sign of the times that it is being valued as it is. I suppose I would take the view that it would possibly be better to keep it a bit longer if there is no real need to sell. It is a relatively young car with low mileage and should give good service for a long while yet.
Quite an expensive couple of years as you point out if you sell now. Whereas if you keep it for another couple of years it might still have a reasonable value and you will have had your money's worth.
Not as exciting as buying a Jag though................
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Thanks for the reply Humph - confirms my thinking - problem is I made the mistake of mentioning the possibility of the Jag to the other half and she's keen now! If car prices are falling like house prices I don't want to buy whilst they are still on the way down.
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You should keep the car. Young with a top spec and low miles. Most large cars have had their values severely dented by the "credit crunch" combined with tax proposals. The Jag is tempting because, like your car, it too has lost a lot of value.
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It seems most dealers are buying behind book price.If you take a look at Parkers for example ,their suggested part-ex prices seem to bear no resemblance to what a dealer using Glasses will offer.I've been looking for a towing car and think a Mazda 6 2.0 petrol will do the job.So I duly roll up at the local Mazda dealer with my 18 month old MX-5 2.0sport roadster coupe (the one with the electric roof) and,without looking at the car offers £11000 part-ex.Parkers suggest£13300,retail at £15500.I think you can guess the rest!!It's just the way the market is at the moment.The dealer said that sports cars were losing a £1000 per month which is absolute nonsense.Didnt quite get the rationale when I said that my car would be worthless in 11 months.
You like me seem to have a fine car.Maybe it's prudent just to hang on,sit back and see where the market goes in the next year
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I understand that I have to pay the dealer a premium to pay for his staff etc, but I'm not seeing forecourt windscreen prices significantly lower than the guides quote, yet when I have a trade-in it's a hard luck story. Something doesn't add up here.
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sq
Nothing new there then, dealers have been diong this for as long as i can remember.
Edited by Pugugly on 16/09/2008 at 20:58
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sq
Exactly what I'm seeing. As a buyer all you hear is how busy they are and how many cars they are selling. The minute you mention trade in it changes to talk of credit crunch and hard times!
Edited by Pugugly on 16/09/2008 at 20:59
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Just a thought - there must be people here who are in the trade? Anyone willing to spill the beans and expose the truth about the used/new car market at the moment?
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The market is very very slow at the moment for anything other than small engined petrol cars and diesels up to 2.0. There is very little other stuff selling unless its priced very competitively. By that I mean if its priced on the forecourt at trade price then there's a chance of it moving, otherwise it's very unlikely to sell.
The market has had a very large correction over the last few months, prices of £30k sports cars have fallen 10% for several months in a row.
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As an aside I often wonder how magazines and guides calculate residual values especially on stuff like Mercedes and BMW - I have never known anyone pay list for these cars - but it that taken into account in the retained value I wonder?
No - it's done based on list price, which is why Ford etc look so bad. But buy at a heavily discounted price and the residual will compare well with other makes. Big discounts on BMW & Merc is a fairly recent thing, and BMW particularly, keep trying to stop it.
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Thanks Bill P - my other point was that because almost everything you'd want on these cars (Mercs and BMs) is an optional extra, no-one ever buys the base model at the list price - so trade - in might look good against list but if it was compared to the actual price paid including extras, it wouldn't be that clever.
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Can I refer you to this thread and in particular, my comments....
www.honestjohn.co.uk/forum/post/index.htm?v=e&t=65...8
Do not sell your car, do not buy a new one - it is waste of money at a time when you need as much money in your pocket as possible.
These comments apply to about 99% of the population. If you are in business etc and making loads of cash, then by all means swap as you will get a good deal, but given you are driving a Mondeo now, I suspect you are not in that 1% category and should keep your hands in your pocket.
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Thanks for the advice. As it happens I am in business and making money. If I buy the 18.5K Jag I'll be paying the difference in cash, not borrowing a penny. Your assumption that I can't be just because I drive a Mondeo seems odd. My point is that I don't seem to be being offered a "good deal" as you seem to think I should be.
As for it being a "waste of money" to change cars that is undoubtly true of almost all cars.
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If they offered you 5.5k I would snap their hands of because its about the top of what its worth you can forget the book price in the present climate I am suprised they even want it in their stock because they will suffer a big drop when they auction it.
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Really? Surely a 2.2 diesel Mondeo must be a very attractive option for someone who wants a big car in the current climate?
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Wrong tax band and to old for a proper car supermarket to retail,people want new or nearly new max Focus down to 106 size.An out of warranty 2.2 diesel mondeo is not the best seller.
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Agree with Adam, I might be interested at 5.5k with full Ford history, a Ford dealer would sell that for a lot more and the difference would go along way towards any repair costs that would otherwise be covered by dealer warranty.
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Don't misunderstand me I think they are a cracking car especialy in estate form but the market is pretty dead at the moment and prices are reflecting that but conversely you should be looking at a good discount on the purchase price of the new vehicle swings and roudabouts.
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A quick scan through Autotrader shows 05's retailing from 4,900 to 56's at 7,400 with 30 to 40k on the clock so the dealer is offering a good price.
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Searching autotrader nationally on the web (private and trade) shows 48 2.2 diesel mondeos - with < 40k miles - i.e. like mine - cheapest is £7,461 so that's why I'm after a bit more for mine.
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On the VED - it's in band D now and H after the new rules - £145 now and will be £180 in 2010 my o/h's Astra (which is slower and less economical) is £180 now so it's hardly excessive!
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