Are you honouring your trade in deal?

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Black
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Joined: Sun Jun 27, 2021 7:41 pm

Post by Black »

Ordered our ID3 (Family Pro) at the end of June, who knows when it will come! Our trade in has gone up about 3k in value since then and still climbing.

So despite having order paperwork with the price they would pay on it I don’t plan on handing the car over and giving the dealer the market bonus. At the time the car was just in positive equity on the pcp settlement figure and the dealer said they would honour even if it went negative.
Now it has swung massively in our favour and if delays continue who knows where it will rise to by the point of handover.
At the end of it all we have a pcp quote with a deposit amount which we have already honoured so think I am good not to honour the trade in part.

Anyone else thinking along the same lines or have done this?

degur
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Post by degur »

So I discussed this with my dealer before leaving the showroom. He said that I was still free to sell privately if I wanted to, I would just need to call ahead and let them know.

You made me check and my trade in is 2k more than when I signed the deal. Actually more than I paid for the car 2 years ago.
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Utumno
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Post by Utumno »

I nearly spat out my tea laughing at this.

You’d have to be mad to not renegotiate regardless of market rises and falls after a few months waiting for a new car. Ultimately there’s an amount of money you’re paying for a product, end of.

The dealers have no issue reducing part ex values when it suits them, they can take the lumps when it doesn’t work in their favour too!
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Daveion
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Post by Daveion »

Black wrote: Tue Sep 21, 2021 9:49 pm Ordered our ID3 (Family Pro) at the end of June, who knows when it will come! Our trade in has gone up about 3k in value since then and still climbing.

So despite having order paperwork with the price they would pay on it I don’t plan on handing the car over and giving the dealer the market bonus. At the time the car was just in positive equity on the pcp settlement figure and the dealer said they would honour even if it went negative.
Now it has swung massively in our favour and if delays continue who knows where it will rise to by the point of handover.
At the end of it all we have a pcp quote with a deposit amount which we have already honoured so think I am good not to honour the trade in part.

Anyone else thinking along the same lines or have done this?
I have ordered a white PP life to replace my Moonstone one 9 months old. The dealer email says that my px price is guaranteed as a minimum but if equity increases my PCP monthly cost will reduce. If Vertu are doing that are others not doing the same.
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Black
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Post by Black »

Thanks for the replies, I was planning to renegotiate with the dealer to see what they will offer. As it is a very unusual situation I just wanted to see how others have got on.

Dealers are really struggling to get stock, I read on motortrader that main group buyers are authorised to go up to £1000 above guide prices.

A silver lining for the long wait. The rise in equity will effectively pay for a years PCP.
bowsh123
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Post by bowsh123 »

nope, i agreed a trade in and only told the dealer when i went to pick the car up (meant to call before but forgot) it took about 2 mins to change some paperwork and i sent the cash over, they really dont care if you trade in or not
SinglePointSafety
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Post by SinglePointSafety »

bowsh123 wrote: Wed Sep 22, 2021 10:43 am nope, i agreed a trade in and only told the dealer when i went to pick the car up (meant to call before but forgot) it took about 2 mins to change some paperwork and i sent the cash over, they really dont care if you trade in or not
My salesperson was very obviously upset when I told him we'd decided to sell the car rather than p/x...probably because his p/x offer was £12.4K, sold car via Motorway for £14.7K, so no doubt the dealership was anticipating a nice little earner
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monkeyhanger
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Post by monkeyhanger »

bowsh123 wrote: Wed Sep 22, 2021 10:43 am nope, i agreed a trade in and only told the dealer when i went to pick the car up (meant to call before but forgot) it took about 2 mins to change some paperwork and i sent the cash over, they really dont care if you trade in or not
You're right, they really aren't going to lose sleep over it.

Some may not want to renegotiate the p/x price, but if that's the case, sell through Motorway or similar. The likes of Motorway generally give you more than a franchised dealer, because they're expecting 20% margin.

Renegotiating with the dealership is risky - you've been waiting so long for your new car, VW have had 2 price rises in that time and the RRP of your incoming car has gone up £1100, would you expect the dealership to re-price your car upwards? Absolutely not, VW UK will sell that car to your dealership at a locked price.

I think it'd be far easier to go sell your px elsewhere than try and renegotiate the px price.
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daveevans8
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Post by daveevans8 »

Having seen second hand prices shoot up I asked my salesperson if his company wanted to up their offer. The company declined so I listed the car with Motorway......

Have just sold it for £2,000 more than the P/X I was offered.

New paper work just arrived to sign and collecting the new car on 4th October.

Complete no brainer.
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