Thought I'd fill in the form on their website to see how they'd value my '96 Mondeo diesel.
£50, minus £29+VAT admin fee!
I'd get more flogging the fuel in the tank.
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Give it a week or two and they'll come back with a better offer, saying your car has gone up in value.
I've valued my car with them a couple of times, not with any thought of selling, and they've always come back later with a higher offer.
Mind you, starting that low, there's plenty of room for improvement.
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Common response when they simply don't want your car but because they 'buyanycar' have to make an offer however derisory!
Flog it on ebay...
Edited by Pugugly on 20/02/2010 at 18:14
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I don't actually want to sell it, I was just checking. It will probably go for scrap this year as the next MoT is likely to kill it off.
Edited by Pugugly on 20/02/2010 at 18:15
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Similar to how a company quotes when they don't want your insurance business either. Quote high. If you say no then people tend to complain to them.
Edited by rtj70 on 20/02/2010 at 18:25
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I suppose when you look at it in the cold light of day, it can't be worth their while buying at a price where they can't make a grand. If that is the case their offer is probably about right however disappointing.
Could you imagine having to explain to your boss that you have bought a rather lived in Mondeo for top dollar and you anticipate making.....ooh...not much.... on it ?
;-)
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i asked, we buy any car last week, for a price to buy a 12000 mile 07 1.6 clio 3 door,thier first offer was £5250 ,thier third offer £5500.
The car was in glasses guide trade at £6000 with 34000 miles,I sold it this week for £6500 from the autotrader. How much profit do they want ?Tony G
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Margin and profit are two quite different things. They may gross say a £1000 but as with all businesses they have costs. Wages, premises, insurances, advertising, taxes etc etc. It simply can't be worth doing a deal which is likely to generate less than a four figure margin.
Edited by Pugugly on 20/02/2010 at 20:07
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Margin and profit are two quite different things. They may gross say a £1000 but as with all businesses they have costs. Wages, premises, insurances, advertising, taxes etc etc. It simply can't be worth doing a deal which is likely to generate less than a four figure margin.
hi, the mistake you make here is to presume that they will sell the car for £6500 as I did,
Again in glasses guide the retail price quoted for the renault is £7025 with 34000 miles.This one had 12000 miles.
I dont operate as a main dealer /used car supemarket.I cant achieve the prices they can and therefore sold it for less.
Would they really sell this car for less than £6995 ?
As to thier costs these are spread across the number of cars they sell,The average cost per sale in a car supermaket type operation is less than it would be in a smaller business.
Also they have the have the usual profitable add ons of extended warranties,finance commisions etc.
I think its more likely they operate on the basis that they will buy perhaps one in ten cars offered. That one car will be very profitable for them.
Dont forget that, we buy any car, doesnt have the expense of buying cars from auctions ,the cars are delivered to them buy the owner who pays a fee for that priveledge.
Im told that its usual for them to negotiate a lower price when you try to complete the transaction.
has any body experienced that ?
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Mistake ? The numbers quoted are only an example. The business principle remains the same.
The objective of any business is to generate the best return it can. One of the best methods of doing that is buying stock at prices considerably cheaper than you can sell it so that there is something left once other costs are deducted. Clearly they pitch their offers to reflect that requirement in their company. It's up to the seller whether they choose to accept their offer or not. Presumably enough do or they would have gone out of business or changed their purchase strategy by now. Whether they make £1,000 gross or £10,000 gross is neither here nor there but what will be important to them is to achieve a minimum return on any vehicle which ay least covers their fixed costs of processing it through their business and in addition achieves at least a small return. There will be a point at which it makes them only busy fools if they pay too much for their stock.
Of course the seller can do better elsewhere. Their pitch to the market is convenience and speed of transaction for those who value that for whatever reason.
Clever actually in my view.
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Im told that its usual for them to negotiate a lower price when you try to complete the transaction.
has any body experienced that ?
Yes, there is a chap on my mazda forum who politely refers to them as 'bandits'
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But if they bought your car they need to sell it on and have overheads. So they are not making a profit of £1000 if they bought for £5500 and sold for say £6500 are they.
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Profits will be made on the add ons sold, Diamondbrite, various over priced finance schemes to those with poor credit histories, GAP insurance and so on.
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.........and therein lies the difference between a business and a charity I suppose.
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They valued my S60 at £825. I sold it privately in three days for £1700. Could have almost certainly hung out for £1800 judging by the number of calls I had on it.
I took the silly offer to mean they didn't want it, and were telling me politely to "go away" by quoting a silly amount, as insurance companies often do when they don't want the business. It's fair enough, and it's not personal. If the deal's not right, forget it and move on, besides which it only cost me a few minutes filling in the form.
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.....and the difference between £825 and £1800 is ?......see above.....
:-)
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Convert it to LHD and sell it in Spain for 4,000 euros, like this pristine example, absolutely 100% guarranteed to be clocked. Up to 10 years finance available according to the ad!
www.autoscout24.es/Details.aspx?id=154602715
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If its any consolation I got offered £50 for a Mondeo too! Supply and demand?
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If its any consolation I got offered £50 for a Mondeo too! Supply and demand?
Mmm, £50, eh? I've got to say bye-bye to my faithful old Mondeo estate next week (MoT 'til mid June). I'd better tell Mrs W to cancel the cruise :-(
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I sold a 54 reg Scenic to them for £2750, it was later sold on carcraft.com for £6500.
QED.
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A couple of years ago, we asked for a price for my wife's Citroen ZX. Although not a brilliant car, it did have three month's MOT.
They did not give any price at all. We ended up selling it on ebay for £230.
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