Not sure if it helps you if you're selling privately, but I traded in my GTI 3 weeks ago. 07 plate, DSG, 27K miles, 17" Monzas, centre armrest, 6 CD in-dash changer, excellent condition inside and out, full service history including cambelt+waterpump. Adjusted for mileage, Glass Guide valued it at £9600 so that's what I asked for. After a bit of toing and froing, they gave me the £9600. I was happy with that as I'd looked at private ads to get an idea of value and was starting to think I'd be lucky to get £7000.
hmm I think the searching you done for your own valuation was incorrect, the market at the moment is not the best with xmas coming, the last thing people want to do at this time of year is buy a car, but if you priced it at £7k and they gave you £9600 that tells you everything.
£7k sounds very low for 27k on the clock and in the condition you said it was, if you advertised it on this sight for 7k with the package that was with it you would have got your hand bitten off, man I would have bought it and re-sold it for a good profit if it was that price and I wanted to rip you off.
I don't know the proper value but im sure someone will tell you soon, also depends what you traded it against, the car dealership would sell your car on their fourcourt as it is not to old and I can bet they will put a minimum of £1500 on top of what they paid you for it.
go back and look at their used cars and see if it is there or check their web site if they have one, possibly moved it to another branch you see.
also with regards to what you traded it against im assuming it was either a new or newish car which means they will have a lot of profit on that car also.
I got a px price for my last car about 3 months ago at £700, that's what the guy priced a 2001 mk4 gti with 107k on it and 3 months not.
I told the sales guy I was looking for £1800 and he laughed but then said he would give me £1700,,,, bottom line was they would take £1000 profit of the car I was going to buy from them and adjust the sales figures to make it look like I was getting £1700 for my car when in reality it was really £700.
they had so much profit built into their new car that taking £1000 of the profit is expected and there if they need to do it in order for you to do business with them,,, I sold cars for Arnold clark for many years.
maybe do a google reg search for your car now, it may find it and would be interesting to see what the selling price is, I bet they put £2k on the price they paid you.
they paid you £9600 which will be written back to £8600 on their sales sheets, they will then prob sell it for £10600 or more likely £10998.
just means the car you bought from them was £1000 over priced is my bet.
btw the car I was looking to trade my old car for was a new vw tiguan and the selling figures are so wrapped up in promotions and pcp deals that you get lost in the actual amount you are paying.
be interesting if you can find your car mate
just my 2 pence worth
You're spot on. They put it up for £10,495.
ha knew it, and remember their cost sheet on the car wont be £9600 it will be around £8600, dealerships don't sell cars for £895 profit bearing in mind the staff costs, valeting, used car sale mechanical prep costs, haggling from prospective buyer costs all to come off that £895.
was prob around £3k profit in the original new car.
as for my 2 pence worth lol yeah it was like a bl@@dy essay I guess but but gives you an idea as to why you don't trade in, unless you cant be bothered with the selling hassle.
did you know that more than 85% of people that buy new cars from large dealerships use pcp deals,,,,
assuming everyone knows what a pcp deal is but if not here is a quick guide as to why they choose it
option 1
normal finance
car price £25k
deposit £500
finance over say 3 years at say 5.9%
final amount payable £28k
that's a low apr by the way
monthly payment is £776 for 3 years
£99 admin fee on last payment
people cannot afford this and the dealerships know it so they came up with pcp ( personal credit plan )
now the figures look like this
car price £25k
deposit £500 ( can be no more then 30% of car )
pcp finance over 3 years at say 5.9% apr
now the monthly payments are say £375 for 3 years
but
you have an (optional ) final payment of say £14k or so
or
hand the car back and walk away
or
the optional final payment of £14k is the MINIMUM the car dealership knows your car will be worth assuming it is serviced as per manufacturers instructions and YOU DO NOT breach a set mileage per year of say 7000 miles, more miles than this reduces the final payment amount BUT increases your monthly repayments say from £375 to £430 or so.
the dealerships final value fee is ALWAYS way lower than the cars future value in 3 years time so a car with a final payment of £14k will be worth around £17 - £18k privately.
last option is to trade it in and it will be valued by the dealership above the £14k unless you have battered it around, although you will always loose about £1800 or so compared to selling it privately and they of course know this, the more gullable the customer the lower they will value it at.
a lot of people on pcp deals are only interested in one thing, the monthly payments and never consider actually making the final payment.
this is why over 85% of people driving around in lovely jeeps, or big mpv's can actually afford the vehicle,,, the truth is they cant really.
so the next time someone thunders past you in your car whilst driving a £30k motor or so be happy in the knowledge that it is not and will never be their fooking car.
just my 99p worth
