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How far off retail should trade-in be?
Hi Shane, How far off retail should your trade-in valuation from a garage be? If I see cars comparable to mine being advertised on Carzone.ie for €22,000 to €25,000, would a trade-in offer of €16,000-€17,000 from a franchised dealer against a brand new car costing €38,000 sound right. It sounds very low to me. My car is a 2 year old Kia Sportage with all the trimmings on 42,000Kms and cost just over €31,000 new.
Our answer:
Hi Liam,
Trade ins are not an exact science. The general rule of thumb is to go by the asking price for a similar car, and take around €2,000 off to allow the dealer costs of sale and some profit margin. However, that’s not always the full story, and the value a dealer offers you for your car can be subject to a number of other factors, not least how many similar models they may already have on the forecourt and need to shift. If you’re not happy with your trade-in allowance, then perhaps the best advice is to shop around.
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