Trade-in assist

Foxhound5366

Foxhound5366

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Does anyone know of any good trade-in assist deals on the market at the moment?

From what I can see, all manufacturers’ “offers” are basically centred around big balloons, while a couple are offering enhanced interest rates (Ford) and payment holidays (Opel).

My poor BMW is receiving terrible offers wherever I’m going (if you buy a BMW it better be an 320D or you’re gonna struggle selling it lol) and I’m not planning to go back to BMW and just get nailed all over again.

I have heard that finance peeps will load shortfalls onto car finance agreements, but I can’t remember whether that’s only on new or used cars, and what the restrictions as percentages of retail price are (I heard years ago there were some limitations to what finance houses would approve). If anybody has insights into that too, I’ll appreciate it.
 
This is why I don’t buy new cars, that initially depreciation is terrible. Why not just keep your car until you reach the break even point?
 
Ϲhristopher said:
This is why I don’t buy new cars, that initially depreciation is terrible. Why not just keep your car until you reach the break even point?
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I didn’t even, I got my BMW used and in great condition. Even that hasn’t helped me reach break-even. At least my new VW Polo was a doddle to sell after only three years of ownership, so there’s something to be said for that!
 
Foxhound5366 said:
I didn’t even, I got my BMW used and in great condition. Even that hasn’t helped me reach break-even. At least my new VW Polo was a doddle to sell after only three years of ownership, so there’s something to be said for that!
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So no deposit/trade-in from the Polo you sold? Adding any shortfall to a new finance agreement is just going to leave you in the same or even worse position.

Unless you really need to replace it then keeping it is surely the best decision?
 
FiestaST said:
He explained here:

https://mybroadband.co.za/forum/threads/selling-car-on-weelee.952591/post-33328023

I’m interested to know trade-in figures for the 5er if you’re willing to share.
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Ford Sandton: R320 000
BMW Sandton: R360 000
Weelee: “We really wanted to help you sell your car. But unfortunately, we couldn't find any better offers within your price range.”
Chery Northcliff: R340 000
WeBuyCars Dome: R355 000
SMG Toyota Cresta: R280 000

The search continues…

The interesting thing for me is that most dealers don’t offer values directly. They all do an evaluation and then put that out onto either a website or a WhatsApp group (no joke), and get back whatever offers they do.
 
Ϲhristopher said:
So no deposit/trade-in from the Polo you sold? Adding any shortfall to a new finance agreement is just going to leave you in the same or even worse position.

Unless you really need to replace it then keeping it is surely the best decision?
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The way I see it, once my car becomes too old for banks to finance it, it is going to take another significant knock in value. Before it falls off that second cliff, I want to move into something new.

The Polo was a wash: traded it in for what I owed the bank, and was happy enough to move on.

Don’t get me wrong, there’s not a massive shortfall at the moment with some of the better offers I’ve found, but I know I can do a little better and I’m holding out precisely because I’m not in a rush.

To think that some poor sucker goes into SMG Toyota Cresta and accepts an offer of R280 000 when WeBuyCars Dome down the road is offering R75 000 more … that’s sobering. WBC might not be ideal to buy from, but they at least offer values which aren’t pure extortion.
 
Foxhound5366 said:
The way I see it, once my car becomes too old for banks to finance it, it is going to take another significant knock in value. Before it falls off that second cliff, I want to move into something new.

The Polo was a wash: traded it in for what I owed the bank, and was happy enough to move on.

Don’t get me wrong, there’s not a massive shortfall at the moment with some of the better offers I’ve found, but I know I can do a little better and I’m holding out precisely because I’m not in a rush.

To think that some poor sucker goes into SMG Toyota Cresta and accepts an offer of R280 000 when WeBuyCars Dome down the road is offering R75 000 more … that’s sobering. WBC might not be ideal to buy from, but they at least offer values which aren’t pure extortion.
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Which model is it and what is the odometer on?
 
FiestaST said:
It almost like those values fell off a cliff already! I mean your best offer of 360k is top line Vivo money. :rolleyes: :(

Fark me.

View attachment 1757360
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When they gotta put “carpet mats” as a benefit, you know they’re scraping the barrel. Don’t think the Vivo comes with Sport mode, rofl. The 530i is deceptively fast, for what at most of the time is just a comfortable land yacht.

The cost of cars these days is unbelievable. I remember back when you could buy a new 3 Series for R400 000, and that was only like 2010. Now you’re looking at twice that.
 
Why not try FB marketplace?
You can get a good idea of who you are dealing with and you can ignore the replies from sketchy looking people.
That's where lots of people shop 2hnd these days, it's huge.
 
airborne said:
Why not try FB marketplace?
You can get a good idea of who you are dealing with and you can ignore the replies from sketchy looking people.
That's where lots of people shop 2hnd these days, it's huge.
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Dude, after I saw that story about the guy and his friend being murdered after replying to an advert on FB Marketplace for a bakkie in Pretoria, I decided I’m not gonna buy or sell a bottlecap on there.
 
Foxhound5366 said:
Dude, after I saw that story about the guy and his friend being murdered after replying to an advert on FB Marketplace for a bakkie in Pretoria, I decided I’m not gonna buy or sell a bottlecap on there.
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That's dof buyers being lured in by a too good to be true deal, it happens all over. There's been a spate of them in Cape Town, idiots driving out to Browns farm, the worst area imaginable and unsurprisingly getting robbed/murdered when they get there.

You as a seller you just need to be circumspect, check the prospective buyers profile out and ascertain if the person is legit or not, Oom Danie that's been on FB since 2007 and has pics from last years holiday to Harties etc is a safe bet. Even then perhaps meet the guy the first time at a neutral place like a mall or local garage.
It’s not rocket science.
 
ford(some jhb branch) does 100k trade-ins assist on ford puma, at retail price, but dealer in cpt will sell 130k below cost without trade-in assist :P
 
Gtx Gaming said:
ford(some jhb branch) does 100k trade-ins assist on ford puma, at retail price, but dealer in cpt will sell 130k below cost without trade-in assist :p
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Ford offers the best interest rate on a car I’ve seen, with zero deposit no less:
IMG_3602.png
Three things about that deal: 1) Good luck when the interest rate climbs, you’re going to feel it more than somebody starting with an interest rate of twice that. 2) Car dealers aren’t dumb, they’ll factor the great deal you got into the trade-in price they one day offer you. 3) I can’t imagine paying R780 000 for a small crossover SUV. Yes it’s got all the modern toys at that level, but … even at the cash price of R614 000 it blows my mind. If they’re just scratching R130K off the retail price, that tells you how over-priced they know it is.
 
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