Trade-in, private sale or auction?

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Mon 18 Jun 2001 17:00
Trade-in, private sale or auction? - Martin Wall
Hi

I'm planning to buy a new(er) car soonish but I'm getting poor figures to change. I think I could do better getting rid of the old car first and doing a cash deal instead. The car I need to dispose of is a '97 R Mitsubishi Colt (37K miles - FSH).

What's the best plan - a private sale or auction?

How much should I look to get for this?

cheers

Martin
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Mon 18 Jun 2001 21:07
Re: Trade-in, private sale or auction? - David Woollard
Martin,

You don't say which model, 1.6 GLX perhaps?

What are you being offered for a trade in, about £3,250?

At auction the value is certainly a bit less and on a bad day could be terrible. In theory you should be able to ask about £3900 privately but it doesn't often work out like that.

Most private buyers know that you are trying to sell prior to a trade in, and if you do sell and don't have a trade in there will be a discount. This means you will be better off selling to them at the trade in price then taking the discount..... and they know that. Why would they ever have to pay as much as the price guides say for a private deal, they just leave yours and move onto someone else.

So it's a hard call. Basically changing cars costs...period.

David
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