A nasty realisation. My car is worthless!
Discussion
Been looking to swap my 4 year old Navara here in Mallorca.
Fancied something different, so had a look at the Ford Kuga.
I was a bit shocked when I was offered 10,000 euro for my nice straight, serviced every 10,00km, never done any hard graft trusty steed, which was close to 30k euro 4 years ago.
Anyway, I tried to deal, but the salesman was an incompitent, and I ended up walking out just as I was about to take the bank details to do a transfer on the deal. But that's another story.
Yesterday, I had a look at the new 190hp Navara. Very nice. I thought yes, why not, even though it would be my 3rd Navara. I fancied the leather, sat nav, rear view camera, Bose sound system etc.
Took my truck to the dealers "other" showroom for a valuation, and they said they'd call me today with a value.
Wait for it.................................
7,500 euro!
As i said, it's straight, everything works, only downside is it needs a set of tires. About 1k euro. Milage is 108,000km (about 60,000 miles)which they all suck throug their teeth at, but I recon that's average.
Was I dreaming to expect around 12k for it?
I think I'll stick some new rubber on it, and keep it.
I use good quality oil, and change the filters every 10,000km, so I recon it'll last me untill they take my licence away.
I'm gutted to be honest! I can't beleive it'd depreciated 5k a year!
Fancied something different, so had a look at the Ford Kuga.
I was a bit shocked when I was offered 10,000 euro for my nice straight, serviced every 10,00km, never done any hard graft trusty steed, which was close to 30k euro 4 years ago.
Anyway, I tried to deal, but the salesman was an incompitent, and I ended up walking out just as I was about to take the bank details to do a transfer on the deal. But that's another story.
Yesterday, I had a look at the new 190hp Navara. Very nice. I thought yes, why not, even though it would be my 3rd Navara. I fancied the leather, sat nav, rear view camera, Bose sound system etc.
Took my truck to the dealers "other" showroom for a valuation, and they said they'd call me today with a value.
Wait for it.................................
7,500 euro!
As i said, it's straight, everything works, only downside is it needs a set of tires. About 1k euro. Milage is 108,000km (about 60,000 miles)which they all suck throug their teeth at, but I recon that's average.
Was I dreaming to expect around 12k for it?
I think I'll stick some new rubber on it, and keep it.
I use good quality oil, and change the filters every 10,000km, so I recon it'll last me untill they take my licence away.
I'm gutted to be honest! I can't beleive it'd depreciated 5k a year!
Thanks for the comments.
I sold my last one private, which was the mark II version (for want of a better explaination.) I didn't even have to advertise it. Word of mouth sold it to an aquintence for 12,000 euro at three years old. But it was considerably cheaper when new to the one I have now.
This one is the mk III version with the 173hp engine. and was around 27k euro new.
I've had a look at auto scout 24, and the mkII versions, same year as mine are advertised at 6-7.5k euro. The mkIII ones are going for around 10K euro but with slightly less km on the clock.
My 12k figure was just off my head, as I though after 4 years it should fetch maybe a bit less than half. Also I thought I'd get a good trade in deal, as I was under the impression, that the dealers where having a hard time selling cars, with the current financial climate.
I was obviosly wrong.
He basicaly told me to sell it private. They obviously don't want it.
I sold my last one private, which was the mark II version (for want of a better explaination.) I didn't even have to advertise it. Word of mouth sold it to an aquintence for 12,000 euro at three years old. But it was considerably cheaper when new to the one I have now.
This one is the mk III version with the 173hp engine. and was around 27k euro new.
I've had a look at auto scout 24, and the mkII versions, same year as mine are advertised at 6-7.5k euro. The mkIII ones are going for around 10K euro but with slightly less km on the clock.
My 12k figure was just off my head, as I though after 4 years it should fetch maybe a bit less than half. Also I thought I'd get a good trade in deal, as I was under the impression, that the dealers where having a hard time selling cars, with the current financial climate.
I was obviosly wrong.
He basicaly told me to sell it private. They obviously don't want it.
Bluebarge said:
You're on a small island, in an economic crisis, with the construction sector on its knees, selling a bog standard pick-up. Time to manage your expectations.
My expectations have been managed for me this morning, with a sharp wak up call. Thanks! That was the purpose of the post. "My car is worthless"It's hardly a bog standard pick up though.
FYI it's the double cab. If you've never driven one you should. A bloody cracking engine. Hence my decision to go for a third.
Actualy, thinking about it, the construction industry here deserves to be on it's knees. The construction here is crap!
Edited by mickrick on Friday 10th December 14:46
mickrick said:
Also I thought I'd get a good trade in deal, as I was under the impression, that the dealers where having a hard time selling cars, with the current financial climate.
I was obviosly wrong.
Take this logic and run with it a bit.I was obviosly wrong.
If they over pay for a used truck, then they will have to take a hit on it selling it on, as well as having to price it higher than other similar trucks making it also harder to sell. They potentially could lose twice.
So even if they sold a new truck in the process, the money being made might not be worth the hassle for such a low overall margin.
mickrick said:
Also I thought I'd get a good trade in deal, as I was under the impression, that the dealers where having a hard time selling cars, with the current financial climate.
Are you in business?Even if you are not you do understand that the price a dealer gives to buy a product is related to what they can get for it when they sell it?
Even if dealers want more business there is a limit to how much they can give for a PX, how pleased would you be if you found your new truck was €5000 dearer than similar trucks on the market and were told that it was that expensive as the previous owner wanted a fortune for it.
mickrick said:
I was obviosly wrong.
Or naivemickrick said:
He basicaly told me to sell it private. They obviously don't want it.
Yes again. If a customer is insistent on receiving a fortune for a car which is obviously not worth it sometimes rather than fall out with them by insisting that your professional valuation is correct it is better to let them try and sell it privately for the inflated figure and let the market prove to them that it is worth much less than that, all the time keeping in touch till they've been educated as to its true value.Here's one with no alloys, no load liner, no towbar, no C-track, no 6CD autochanger, or metalic paint. But less milage. So I recon the first offer I got was fair. But, looking at that one, I don't think my expectations where over the top.
And as I said, I was about to do the deal.
http://www.autoscout24.es/Details.aspx?id=17927079...
I would have expected a better deal from the main dealer, than a Ford dealer though.
But Ho Hum, that's life.
I'll keep the old girl. She's like a pair of old comfortable slippers anyway.
And as I said, I was about to do the deal.
http://www.autoscout24.es/Details.aspx?id=17927079...
I would have expected a better deal from the main dealer, than a Ford dealer though.
But Ho Hum, that's life.
I'll keep the old girl. She's like a pair of old comfortable slippers anyway.
Edited by mickrick on Friday 10th December 15:09
markmullen said:
mickrick said:
Also I thought I'd get a good trade in deal, as I was under the impression, that the dealers where having a hard time selling cars, with the current financial climate.
Are you in business?Even if you are not you do understand that the price a dealer gives to buy a product is related to what they can get for it when they sell it?
Even if dealers want more business there is a limit to how much they can give for a PX, how pleased would you be if you found your new truck was €5000 dearer than similar trucks on the market and were told that it was that expensive as the previous owner wanted a fortune for it.
mickrick said:
I was obviosly wrong.
Or naivemickrick said:
He basicaly told me to sell it private. They obviously don't want it.
Yes again. If a customer is insistent on receiving a fortune for a car which is obviously not worth it sometimes rather than fall out with them by insisting that your professional valuation is correct it is better to let them try and sell it privately for the inflated figure and let the market prove to them that it is worth much less than that, all the time keeping in touch till they've been educated as to its true value.I bought two cars off these people in the past, and went back for a third.
I know they'd have that truck on the forcourt for over 12k.
And lets face it, your remarks are probably a little biased, going by your profession. No offence intended.
Bluebarge said:
You're on a small island, in an economic crisis, with the construction sector on its knees, selling a bog standard pick-up. Time to manage your expectations.
I'd have thought cars on the islands would be dear. Friend who lives in Tenerife is always moaning about car prices, although that's a bit further out, I suppose.Also used cars are dearer pretty well everywhere else - the UK has very low used car prices.
ETA: Again for an island dwelling car, the mileage does seem quite high.
Edited by Deva Link on Friday 10th December 15:30
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