Trading in a car of greater value

G

Gabriel

Registered User
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I'm actually asking this question for a friend of mine.

She bought a car earlier this year and is finding it expensive to run and make payments on. So now she's thinking of trading it in for a cheaper and older car.

Does anyone know how this works? If your car were worth say €15000 and the car you were interested in was worth say €10000 and the dealer was willing to give you €15000 for yours...does he end up giving you the car and 5k?

I've just never heard of anyone doing this before so am curious and thought I'd find out for her.
 
Dealers will not be comfortable handing cash over.

What about selling the car privately?
 
Trading in for greater or lesser value, you are going to be out of pocket. Most dealers advertise a car with a contingency to drop off a few quid for a straight sale, without trade-in.

You won't get this benefit when trading in, but will presume you have got a good deal, from the price they are offering you against your car, but which also has the contingency diluted in to it.

Selling premium cars (+15k) privately, limits your market, as many buyers would prefer a dealer "guarantee" to run with these prices.

Me personally? Get the car fully valeted and advertise on autotrader or elsewhere, with a photo.
 
Thanks for the feedback guys. That's what I figured. Just wanted to make sure.
 
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