Buying a car during lockdown

[Ancient Citizen]

The only thing to watch (which won't apply to the OP) is any trade in shenanigans - new car dealers are not interested and give you bottom dollar

Correct, mainly they're not interested, unless you were PXing a Landrover,
which then could stand on their books higher than standard trade price.
New car dealers have, (or used to), 10% profit in a car, take out the VAT,
then the 10%, and you see how much they make, ie; £20,000-VAT=£16500 =£1650 profit. So the trade in has to return its true value, which is based on auction prices, less any damage, they can only inflate the £12k by around £500
or so, to retain about a grand.

 

[DiscoSteve]

Correct, mainly they're not interested, unless you were PXing a Landrover,
which then could stand on their books higher than standard trade price.
New car dealers have, (or used to), 10% profit in a car, take out the VAT,
then the 10%, and you see how much they make, ie; £20,000-VAT=£16500 =£1650 profit. So the trade in has to return its true value, which is based on auction prices, less any damage, they can only inflate the £12k by around £500
or so, to retain about a grand.

As it happened the truck I got £15,500 for turned up on the forecourt of a dealer in Oxfordshire this week - for £18,750 AND its reserved already before any pictures have made it on to autotrader - so there will be about £3,200 to be shared between WBAC and the dealer who bought it and the dealer who bought it and the buyer - so don't know the actual price it got at the auction but you can see the 10% rule in action right there!

 

[Ancient Citizen]

As it happened the truck I got £15,500 for turned up on the forecourt of a dealer in Oxfordshire this week - for £18,750 AND its reserved already before any pictures have made it on to autotrader - so there will be about £3,200 to be shared between WBAC and the dealer who bought it and the dealer who bought it and the buyer - so don't know the actual price it got at the auction but you can see the 10% rule in action right there!

Was it a dealer who gave you £15,500? It sounds like they then farmed it out to another one, which happens regularly, they'll probably have potential buyers
waiting. When they put it up for sale, they can ask whatever they like for it,
but asking and getting never, or rarely, happens. An example is them asking
£20,000 for a car on the forecourt, a buyer will immediately ask for a discount, offering say £18,000, and negotiations then start.
Some cars are very desirable, it appears yours was to someone, hope your
new one is a good 'un;)

 

[DiscoSteve]

Was it a dealer who gave you £15,500? It sounds like they then farmed it out to another one, which happens regularly, they'll probably have potential buyers
waiting. When they put it up for sale, they can ask whatever they like for it,
but asking and getting never, or rarely, happens. An example is them asking
£20,000 for a car on the forecourt, a buyer will immediately ask for a discount, offering say £18,000, and negotiations then start.
Some cars are very desirable, it appears yours was to someone, hope your
new one is a good 'un;)

no dealer would only offer £12k - so WBAC'ed it for the £15,500

 

[bluethrunthru]

forget buying one try starting one........21 days of isolation end today - hope the Punto starts tomoroow