Honda - Part Exchange Questioner

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Mon 6 Feb 2012 14:26
Honda - Part Exchange Questioner - stormuk
Wont mention dealerships or cars as its not really relevant - but has anyone else found Honda to be pretty bad with Part Ex's.

Went armed with as much as I could, I am fully aware people can belive px is worth more than offerd.

Online Guides ranged from 3500-4300
Glasses came back at 3300-4300
Online Auction quote came back at 3650

Trip to Mazda franchise a px on a maxda (same cost as the Honda) - £4000
Trip to local supermarket (Same cost again as the Honda) - £3750

They offered £3000 and wouldnt budge, which was a bit of a shock as in the past Ive found franchise dealerships more flexible.

I even had them attempt to show me what we buy any car would offer as proof - which was funny as that came back with £3650.

Ive spoken to a few people I know with dealings with various Honda Garages have ahd the feedback that they were offered alot less than they finally got from another delaership/garage.

Needless to say I didnt buy and walked but makes me hesitant to try another Honda dealership.




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Mon 6 Feb 2012 14:52
Honda - Part Exchange Questioner - tony g
The offer a dealer makes on your car,is to some extent based on the car you're buying.

If the individual car is keenly priced ,or in short supply ,the offer he makes on your car will be less .

Don't be influenced to much by prices in glasses guide ,you will often hear car dealers describe a car as being ,behind book. It simply means that the valuation in glasses is wrong .Please remember that glasses is a guide not a guarantee.

A forum member pointed out earlier that if you go to the network q site you can use the cap system to value your car ,this system is also known as the black book.

It tends to offer a more realistic valuation than glasses guide ,if your car is in good condition use the middle of the three trade figures ,with the adjustment for mileage .

Finally ,perhaps the most important thing is look at the balance to change ,ie how much of your money will you have to spend to buy the car you want.

Harder still, try to guesstimate how much the car you buy will depreciate before you want to sell it .

Traditionally hondas have depreciated more slowly than most other manufacturers .

Please let the forum know how you get on.


Regards


Tony g












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Mon 6 Feb 2012 16:47
Honda - Part Exchange Questioner - stormuk

Hi

I wouldnt say the Honda was cheap - it was at the right price point for a franchise car.

Did the network Q thing - Same response much more than Honda

Excellent condition: £4170 Average condition: £3890 Below average condition: £3410
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Mon 6 Feb 2012 17:10
Honda - Part Exchange Questioner - Tonto1

I found that my local Honda dealer would offer a very good p/x when trading in another Honda. When we tried to p/x a Corsa they really weren't fussed at all - in fact they encouraged me to try and sell it either privately or via a car buying site. The salesman was honest enough to point out that they would not put it on their own forecourt, and they would need to cover their own costs to simply put the disposal through their books.

I suspect most main dealers will be in a similar position. Any offering a good p/x may well be just using part of the margin on the new vehicle. As Tony g stated, you need to look at the cost to change.

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Mon 6 Feb 2012 17:28
Honda - Part Exchange Questioner - VoiceOfReason

Hi Storm, what Mazda is it?

I have just gone through exactly the same as you with mine on a new purchase at Honda. In all honesty the only way forward is to sell privately or at least try that first.

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Mon 6 Feb 2012 17:54
Honda - Part Exchange Questioner - tony g
Hi storm ,have you compared the price the Honda dealer was asking ,with similar hondas at other dealers ,

Is the Honda model you want ,in short supply or especially sort after.

Failing all that ,and if you still want to buy the honda ,try the local franchise for your existing car ,would they want to buy it ?

Alternatively try, we buy any car. From experience I think you could find that the price they suggest is different to the one they're willing to pay .

Good luck


Tony g
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Mon 6 Feb 2012 18:29
Honda - Part Exchange Questioner - bonzo dog

Hi Stormuk, not trying to insult your intelligence but for those who aren't aware of the PX process, it's like this:

  1. The dealer values the car as they see its "trade value". This is what they believe they can realistically & quickly dispose of it either to a trader or through the auctions.
  2. Dealers will use Glasses Guide & CAP as a guide but will then adjust based on their own experiences in buying & selling that particular model
  3. If the dealer feels it is a car he will be able to retail (hence make profit) he will often value this trade price higher. So a Mazda dealer will often value a Mazda higher than a Honda dealer & vice-versa
  4. The dealer will then add onto the Trade value some of his profit margin that he has in the car he is selling. Now neither you nor I know how much margin he has to play with. Nor do we know how much of this margin he is prepared to give you.If it's a car he desperately wants out of he will invariably give more than a car he has just taken into stock.
  5. Then you have manufacturer bonuses. Again we don't know how much & on what cars. Plus if he is one car away from hitting his bonus threshold he will invariably give a far better PX price than if he has already hit it.

In my experience Honda dealers tend to retail mainly Hondas & trade PXs immediately to realise capital to buy nearly new Hondas from Honda UK. Plus Hondas tend to be in more limited supply than other makes so they don't need to give them away unless they are close to bonus. In addition Honda franchises tend to work for higher than average margins & are not in the habit of discounting on demand. Thus they are unlikely to give strong PX prices on non-Hondas.

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Mon 6 Feb 2012 21:55
Honda - Part Exchange Questioner - stormuk

bonzo dog no insult taken, I do realise how it works but I’ve just never seen such an aggressive approach taken – which is pretty much why I asked -as it does appear Honda are less flexible.

Tony g - Yeah I’ve compared to other Honda dealership’s and others, though to be honest with it being an FRV even Honda garages seem to disagree on where to place it price wise half the time.

VoiceOfReason - Mazda 5 mate, though I’ve knocked that one on the head as it’s too much of a compromise.

Tonto1 – I have heard from a friend who tried to get a price on a civic from the garage they purchased from and they offered a poor price as well so seems it’s not always so clear cut, you could argue as well that a none Honda customer is the kind of person to incentivise.

Bottom line for me is I’m happy to wait it out and see if another car comes up I’m in no rush, the question for me is now – is it worth the extra to buy it from Honda direct!

I just wanted to see if I was being treated in a normal way by the Honda dealership I went to.

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Mon 6 Feb 2012 23:05
Honda - Part Exchange Questioner - tony g
(I just wanted to see if I was being treated in a normal way by the Honda dealership I went to.)

Hi storm ,can you explain what you mean by the above .
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Mon 6 Feb 2012 23:06
Honda - Part Exchange Questioner - stormuk

Just of it was a common approach by Honda Dealerships, or if it was a one off.

Thus the thread really to see if others had found Honda dealerships to be less forthcoming with part ex’s

Edited by stormuk on 06/02/2012 at 23:20

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Tue 7 Feb 2012 12:21
Honda - Part Exchange Questioner - thunderbird

Just of it was a common approach by Honda Dealerships, or if it was a one off.

Thus the thread really to see if others had found Honda dealerships to be less forthcoming with part ex’s

Some years ago Dad bought a Jazz, they lent him a car for the morning and the PX the dealer gave him for his Almera was way above anybody elses offer, he did not even go outside to look at the car.

When the wife wanted a swap she fancied a Type R Civic and since Dad had done very well we went to the same garage and got the same saleman, he was now the sales manager. He loaned us a car for the afternoon and he knew we were considering a Cooper S as well, the deal he offered was staggeringly good against PX Puma but wifey liked Cooper S more so that was the end of that.

When I changed last I tried a Civic diesel, the original dealer had now changed to Citroen and a totally different dealer Honda had taken over the former Mercedes site. We got a short and pointless test drive and a poor PX offer compared to others we had obtained. All he was interested in was getting us to take delivery before the end of the 1/4 (3 days away), if we did that he would allow us another £300 off which was still well under other offers. He rang us continually for the next few weeks but never came back with what we wanted i.e. a better price, when I told him we had bought a BMW he became quite abbusive telling us we would regret in amongst other things which was hardly likely to make me want to recommend him.

So in my experience they were good but not now.

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