Can I part-exchange my car for one of less value, can I do that?

Question

Basically, I want to exchange my car that has a current resale value of £2500 - £3000. I understand a dealer would probably offer me somewhere between £1250 - £1500 for it.

If they have a car for sale for about £500, would they give me the car, and cash in exchange for my car?

I hope you can help.

Answer 1

why take that big of a loss willingly?  If its got a current resale value of 2500-3000, why take only 1250?  Sell i privately - you will make more on the transaction.  Then buy teh other car with cash, and pocket the balance.

Added:  No, I am not "aware" of what you do or do not know.  If you do not want to hassle with selling the car yourself, thats fine.  I am just saying that you are potentially losing out on as much as 1000 - thats a lot of $ (sorry, no pound symbol on this thing that I know of).

If you want to trade it off to the dealer, they will probably give you a lot less.  Be ready that they offer a stratight trade, no cash changes hands.  THey need to take the car in cheap enough to resell for a profit.

Deals like this do happen - i have taken in paid-off cars in exchange for lower-value ones, and refunded money to the customer.  But its going to take negotiating twice as hard on your part.

Good luck

Answer 2

that's why they call them car traders/dealers.....dont expect to come out ahead..they are not in the business of losing money