Part Exchange and Finance deals

[donerkebab]

Hi,

Got my Trophy on the way at end of month. Just wanted to check what kinda of part exchange /Finance deals - others getting from their dealers?

Just wondered if WBAC or Motorway is the way to go?

 

[StackH]

My dealer didn't seem that interested to be honest. He asked me what I wanted, I told him what WBAC had offered, and he offered £1k less. He then suggested I'd be better off selling it to WBAC or the dealer I bought the car from.

I was under the impression that second hand cars were sought after, but apparently not.

 

[RichardC]

Try Arnold Clarke. They offered me £2000 more than the dealer did for my ZSEV Excite.

I have sold three cars to them before and I have never got anything less than the quoted online price.

 

[jamesc83]

I think it depends what your part ex is. I got a good deal on my Mk1 ZS EV - More than WBAC or Cazoo and about the same as Motorway

 

[mkp1969]

I got £2000 more for my 2018 Zoe than I paid for it (in Feb '21) direct from my MG dealer.

 

[AdamMGEV]

I just sold my mg5 on motorway, was the highest quote I got

 

[RichardC]

I just sold my mg5 on motorway, was the highest quote I got

What happens next as I may go down this route.

 

[donerkebab]

Thanks will give them all a try for quote - just less hassle to swap at dealer I guess

 

[tsedge]

I think it depends what your part ex is. I got a good deal on my Mk1 ZS EV - More than WBAC or Cazoo and about the same as Motorway

Yes, this. Dealers are not as interested in older cars or brands/models they cannot easily sell on.

 

[GaftheHorse]

Sold my 20 Nissan Leaf through Motorway last week and it was collected today. I got £2k more than the MG dealer offered (and £1.5K better than WBAC). It was a really quick and seamless process, the only labour intensive bit was taking the photos to go in to their auction. I would highly recommend them.

 

[WonkoTheSaneUK]

What happens next as I may go down this route.

If it's at all like when I returned my end-of-PCP VW Up after buying the Zoe, they send someone around to inspect the car for undeclared damage (so they can knock down the price). Once that's done, they'll drive it off into the sunset (or car auction). Money changes hands electronically, obvs.

 

[AdamMGEV]

What happens next as I may go down this route.

So you put the cars details in... get a rough quote. They then call, discuss some stuff. Take pictures via the app, then they put it on auction car aites I believe. MG offered 23k and I got 24,775 from Motorway.

I sold my car privately on autotrader last time but I wouldn't have got much more than motorway gave me and it saves me having to deal with people calling trying to get the price down and messing me about.

 

[GaftheHorse]

If it's at all like when I returned my end-of-PCP VW Up after buying the Zoe, they send someone around to inspect the car for undeclared damage (so they can knock down the price). Once that's done, they'll drive it off into the sunset (or car auction). Money changes hands electronically, obvs.

I was defo expecting to get knocked down at least a few hundred quid, but nope. The guy had a good look at it and then said, yep, looks fine to me. The money was in my account half an hour later. It went much better than I was expecting.

 

[shaunuk]

I was offered 9k on we buy any car and the dealer offered 7.5k. Stuck it on auto trader and had a sale two days later for 14k.

Classic high mileage ionic.

 

[Dan C]

I didn’t have a part ex, but got a personal loan for the full amount at 3.4% interest over 5 years. Worked out the cheapest way of financing it and keeping my savings intact.

 

[Ian Key]

The dealer has offered a trade in allowance the same as the Auto Trader value but would re-evaluate when the MG4 was delivered because of the long lead time.
I mentioned to my local garage who's serviced my car for years that it would probably be the last time he MOT'd and serviced my car as I had ordered a MG4 and he offered to buy it at the Auto Trader price.

 

[siteguru]

What return are you getting on your savings? If it's less than 3.4% then the finance is costing you more - you'd be better off buying from savings and then putting the monthly "finance" payments back into your savings over the term.

(I appreciate that people will want a nest egg/comfort blanket of savings, so the above is not the only consideration).

 

[mkp1969]

What return are you getting on your savings? If it's less than 3.4% then the finance is costing you more - you'd be better off buying from savings and then putting the monthly "finance" payments back into your savings over the term.

(I appreciate that people will want a nest egg/comfort blanket of savings, so the above is not the only consideration).

This is that I've done. I've had money sitting around earning next to nothing for years and figured the current market could devalue it so might as well put it to use. Spent some on solar panels and a home battery too. Busy week next week!

 

[Dan C]

What return are you getting on your savings? If it's less than 3.4% then the finance is costing you more - you'd be better off buying from savings and then putting the monthly "finance" payments back into your savings over the term.

(I appreciate that people will want a nest egg/comfort blanket of savings, so the above is not the only consideration).

Cheers for the advise, it’s not easy access savings though, My savings are in virtually all stocks and shares, so no point pulling them out in my opinion whilst the market is massively down