Trade-in valuation
Discussion
Found a used approved BMW X5 I like the look of and made an enquiry explaining that I would need to trade my current car in. Currently have a G21 M340i with all available options bar M-sport seats and carbon fibre trim. It’s low mileage and a 73 plate.
Get given an offer for £34k which seems extremely low. Gone back to the sales guy to say it s too low and now he s asking what I would want and he ll see if we can work something out. Motorway and Carwow seem to suggest 43k is doable and there are comparable cars in the dealership network that are more than this (retail pricing I guess). Would the price suggested on Motorway etc. be around what I should expect for trade-in or would the trade-in price usually be less? I m thinking the difference is too much for them to up their offer so probably a waste of time but curious to know how people would approach it as I ve not got much experience of trading in.
Thanks!
Get given an offer for £34k which seems extremely low. Gone back to the sales guy to say it s too low and now he s asking what I would want and he ll see if we can work something out. Motorway and Carwow seem to suggest 43k is doable and there are comparable cars in the dealership network that are more than this (retail pricing I guess). Would the price suggested on Motorway etc. be around what I should expect for trade-in or would the trade-in price usually be less? I m thinking the difference is too much for them to up their offer so probably a waste of time but curious to know how people would approach it as I ve not got much experience of trading in.
Thanks!
Edited by ha03274 on Tuesday 28th July 22:14
Chimune said:
Every time I've asked the answer has matched wbac regardless of significantly higher auto trader equivalent.
Yeah I did plug my car into WBAC and it came out with a similar figure to what they offered but Carwow and Motorway seem much higher and from what I understand those are dealerships bidding on the car?paul_c123 said:
Thanks, however this doesn’t take into account specification but only condition? Surely that can’t be what’s used in valuations?Unless the dealer is very keen on your car for stock, their px offer will be poor.
Motorway and Carwow should achieve more because only dealers that want your car will be bidding for it. That said, don't expect to achieve their initial valuation; they have recently both started over estimating in a competitive effort to gain your business.
Motorway and Carwow should achieve more because only dealers that want your car will be bidding for it. That said, don't expect to achieve their initial valuation; they have recently both started over estimating in a competitive effort to gain your business.
SFTWend said:
Unless the dealer is very keen on your car for stock, their px offer will be poor.
Motorway and Carwow should achieve more because only dealers that want your car will be bidding for it. That said, don't expect to achieve their initial valuation; they have recently both started over estimating in a competitive effort to gain your business.
Thanks, so probably best to sell mine on one of those platforms and then buy the new car I want from a dealership I guess Motorway and Carwow should achieve more because only dealers that want your car will be bidding for it. That said, don't expect to achieve their initial valuation; they have recently both started over estimating in a competitive effort to gain your business.
CarWow got my attention with the best by far offer for my 1 year old Bigster.
The top bidder was well below that figure and then I started reading about when the car is collected even more is knocked off.
I've managed to off load cars to WBAC for a little more than the dealer was offering as part ex, but a few hundred not several thousand.
The top bidder was well below that figure and then I started reading about when the car is collected even more is knocked off.
I've managed to off load cars to WBAC for a little more than the dealer was offering as part ex, but a few hundred not several thousand.
ha03274 said:
SFTWend said:
Unless the dealer is very keen on your car for stock, their px offer will be poor.
Motorway and Carwow should achieve more because only dealers that want your car will be bidding for it. That said, don't expect to achieve their initial valuation; they have recently both started over estimating in a competitive effort to gain your business.
Thanks, so probably best to sell mine on one of those platforms and then buy the new car I want from a dealership I guess Motorway and Carwow should achieve more because only dealers that want your car will be bidding for it. That said, don't expect to achieve their initial valuation; they have recently both started over estimating in a competitive effort to gain your business.
I'm now going to sell privately, armed with a local specialist's inspection report giving the car a clean bill of health
ha03274 said:
Found a used approved BMW X5 I like the look of and made an enquiry explaining that I would need to trade my current car in. Currently have a G21 M340i with all available options bar M-sport seats and carbon fibre trim. It s low mileage and a 73 plate.
Get given an offer for £34k which seems extremely low. Gone back to the sales guy to say it s too low and now he s asking what I would want and he ll see if we can work something out. Motorway and Carwow seem to suggest 43k is doable and there are comparable cars in the dealership network that are more than this (retail pricing I guess). Would the price suggested on Motorway etc. be around what I should expect for trade-in or would the trade-in price usually be less? I m thinking the difference is too much for them to up their offer so probably a waste of time but curious to know how people would approach it as I ve not got much experience of trading in.
Thanks!
Does it still have any warranty on it if so an independent used dealer will want it, they love buying cars with factory warranties as it removes lots of risk from the sale a BMW dealer it doesn't matter so much as they have to apply an AUC warranty depending on how much is left and that is all part of the prep costs, the BMW dealers want lots of money in the deal they buy at 34k it's going up at 43k and they will have the same in the X5 so you're going to lose on the way in and on the way out call it £15-20k loss to swap. (pop in the reg of the X5 into WBAC to get an indication of the spread)Get given an offer for £34k which seems extremely low. Gone back to the sales guy to say it s too low and now he s asking what I would want and he ll see if we can work something out. Motorway and Carwow seem to suggest 43k is doable and there are comparable cars in the dealership network that are more than this (retail pricing I guess). Would the price suggested on Motorway etc. be around what I should expect for trade-in or would the trade-in price usually be less? I m thinking the difference is too much for them to up their offer so probably a waste of time but curious to know how people would approach it as I ve not got much experience of trading in.
Thanks!
Motorway's quote will look great but they aren't buying your car a dealer is and the dealer has to also pay Motorway and will chip you on collection so that's less for you, WBAC sell on internally to Cinch and BCA so again that effectively comes out of your pocket.
You've got the selling dealer quote and the buying platform quotes you now need to take it a few decent local used dealers to see what a direct sale will be (they welcome this)
I sold my 22 plate M340i with poverty spec (no HK, HUD, Electric seats etc) via Motorway a couple of months ago to these guys for £31k - https://www.davidjameslimited.co.uk/
Might be worth giving them a call (Kylan Miller is their buyer - 07856 427384) to see what they say?
Might be worth giving them a call (Kylan Miller is their buyer - 07856 427384) to see what they say?
ha03274 said:
Yeah I did plug my car into WBAC and it came out with a similar figure to what they offered but Carwow and Motorway seem much higher and from what I understand those are dealerships bidding on the car?
The difference being that the Dealer who has actually offered £34k and in turn WBAC, actually get their cheque books out and buy cars with their own money. Carwow and Motorway do not buy cars. They advertise them.
The two are intrinsically different concepts.
Gassing Station | Car Buying | Top of Page | What's New | My Stuff