Trade in advice
Submitted: Wednesday, Oct 04, 2006 at 12:45
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MichaelN
Hi,
I need some advice on trading in a 4WD. It has several dings in it as
well as a few deep scratches that cant be polished out. Im wondering whether its worth getting the damaged fixed prior to trading it in. The repairs have been quoted at approx $700 and this should get it looking pretty clean. I just dont know whether this would make $700 (or better) difference to the trade in price though. Perhaps id be better off keeping the cash towards a bigger deposit.
Redbooks.com.au would suggest an average $23k-$24k trade value for the vehicle.
New Vehicle cost will be approx $44k
Any ideas or previous experiences would be great !
Mike
Reply By: Leroy - Wednesday, Oct 04, 2006 at 13:33
Wednesday, Oct 04, 2006 at 13:33
I don't think it's worth the trouble. if selling privately, yes i would get the dings and scratches repaired. Just a small tip. I traded my last vehicle in with dings and scratchs and waited for a rainy day so it masked the damage a little!!
Leroy
AnswerID:
197780
Follow Up By: Gerhardp1 - Wednesday, Oct 04, 2006 at 15:12
Wednesday, Oct 04, 2006 at 15:12
Hi Leroy,
My son's a valuer in the car trade at a large
Melbourne Ford dealership.
The valuation given on a vehicle on a wet day automatically is lower than on a dry day, for the very reason you state.
Plus the valuer doesn't like getting wet for no reason so that results in a lower value again. On a 4Wd with a redbook value of say $24,000, the valuation markdown will be automatically $1500 or more.
Unless you find a valuer that was born yesterday.....
FollowupID:
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Follow Up By: Leroy - Wednesday, Oct 04, 2006 at 16:17
Wednesday, Oct 04, 2006 at 16:17
I must have been lucky. I did notice he didn't want to be in the rain and that obviously worked in my favour this time.
Leroy
FollowupID:
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Reply By: Notso - Wednesday, Oct 04, 2006 at 13:50
Wednesday, Oct 04, 2006 at 13:50
Depending on what vehicle it is the red book prices are a bit out these days.
The red book price for a Nissan 3.00 was stated at about $23,000 but only worth about $15 to $17,000 as a trade. They are wholesaled off.
Leave the dings if you are tradiing, fix em if private. Also take off any good bits you can re uses as they won't give you what the extras are worth either.
But good luck selling privately too as not many want a used 4WD gas guzzler these days either.
AnswerID:
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Follow Up By: MichaelN - Wednesday, Oct 04, 2006 at 15:19
Wednesday, Oct 04, 2006 at 15:19
Really ? .. the Redbook value was out by that much ? That makes it a bit useless then !
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Follow Up By: Notso - Wednesday, Oct 04, 2006 at 15:47
Wednesday, Oct 04, 2006 at 15:47
Yeah,
I paid for a valuation certificate too?? Got me hopes up and all excited. Anyhow I couldn't even get an offer on it privately so ended up trading it in.
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Reply By: Member - Colin (WA) - Wednesday, Oct 04, 2006 at 16:13
Wednesday, Oct 04, 2006 at 16:13
Hi Michael,
We asked a friend who is a dealership manager if we should get the paint work touched up, he advised not to as they had people who could do it for much less than we could get it done for. He also said if your car was selling in the yard for 23k then expect to get 5k-7k less as a trade.
regards Col
AnswerID:
197812
Follow Up By: MichaelN - Wednesday, Oct 04, 2006 at 16:38
Wednesday, Oct 04, 2006 at 16:38
Thanks Col. Thats what i thought too. They have all the contacts for getting that sort of repair work done cheap. I've seen utes like
mine advertised on carsales and carpoint for $32k still (with more kms too!). Redbooks has it at about $23k-$24k so that seems pretty close to your figures. If i could get 23-24k trade in its current condition on a $44k purchase id be very happy.
Guess ill just have to start doin the rounds of the car yards and see what happens !
cheers for the advice guys !
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Follow Up By: Member - Colin (WA) - Wednesday, Oct 04, 2006 at 17:08
Wednesday, Oct 04, 2006 at 17:08
he also said if you get a higher trade price then there will be more loaded on the vehicle you are trying to buy. We bought a new car so got a very good price on our trade as there is more room for movement than used (apparently).
Good Luck Col
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