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Old 01-21-2003, 21:40   #1 (permalink)
JR
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My old Trade-In

I bought my XR from Dale Ford, which is a fair way out of my normal area, so I don’t get up past there much. When I was there for a warranty repair (don’t ask) last Thursday, I noticed my old car was still sitting on their used car lot across the road.

I didn’t want to be rude and go over to look while all the dealership staff were there – you never have good things to say about your old cars this soon after selling them – but I was curious as hell to see what they wanted for it.

The car is a 2000 Hyundai Accent GS 3 door, and it’s had quite a bit of rice-like work done to it (bodykit, 17’s, lowered springs, shocks, engine work) and as such I was offered $15,000 as a trade for it on the XR when I ordered at the start of October.

Late last night, as I drove past the dealership on the way home from Sydney City, I stopped the car and wandered over to have a look.

Are you sitting down….

$23,990!!!

After the shock wore off, I had to laugh. There were signs all over the dealer offering $2002 cash back on ‘selected’ used cars (mine was one of these), I just didn’t realize they added the extra $2K onto the sticker price before they gave it back to you!

Good luck to them selling it at that price, but I’ll be surprised if it doesn’t sit there for quite a while at that money!

Years ago I had a similar experience with my 1992 Festiva. I got around $7500 as a trade, and a week later it was on the lot with $13,990 on the windscreen. While I treat my cars kindly and keep them well maintained, they’re not that good!

It seems some dealers will never learn (and some consumers too for them to get away with it!).

Anyone else have a similar experience of seeing their old car on the lot at ridiculous prices?

Cheers
Jason
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Old 01-22-2003, 01:23   #2 (permalink)
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1. I think you got a damn good trade price (mod's dont affect residuals - hence why they inflate lease prices so dramatically)

2. What work would they have needed to do to it

3. There's the cash back thing

4. They will eventually sell it to someone with shit finance and no clue

Going back to point one, Dealers are in the business soley to make money. If they give you 15k for your car, spend 1k on Reco, Chuck another $500 minimum at it for overheads such as staff etc. Then theres the salesmans commission say 20% of profit - call it $250 odd taking into account the cash back and bargaining (we will pretend the final figure is $19250) ... Total Cost $16,750
Leaves a profit of $2500 for the dealership. It would probably take a good six weeks to sell too.

I'd be pissed if I only Earnt $2500 for six week's work.

However I agree $23990 is a bit over the Top. I would be tempted to cut that baby loose @ cost +1k

All said and done you must be over the moon with the XR :D
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Old 01-22-2003, 02:18   #3 (permalink)
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$23,990 for a Hyundai Accent, all i gotta say is Croicky!!!!!

Goes to show that there is a market for these cars with decked out bodykits etc on buzz box's (no offence JR).
This makes me kind of sick in a way that i only got $12k for an immaculate 1998 EL with cruise done only 107k.

But on the counter people who are after a 3-4 year old falcon would get themselves a bargain. Basically they will be in a $30-35k car for 1/4 the price.
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Old 01-22-2003, 02:33   #4 (permalink)
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Yeah my dad traded his EL fairmont Ghia a few years back for 15 grand, it only had 50000 kms on the clock. They sold it for 24000, thats 9grand profit. ahha
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Old 01-22-2003, 02:39   #5 (permalink)
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As for the shit finance its Called FORD credit, and its a total Rip off!!!!!!!!!!!!!!!!!!!!!!
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Old 01-22-2003, 03:19   #6 (permalink)
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Beatnik:

Firstly, NO work was needed on the Accent besides a professional detail. I wanted top dollar for it, and made sure it was in a condition that would get it for me. I'd even cleaned the engine bay and under body before getting it valued, so only 1 month of road grime needed to be removed.

Secondly, it was in excellent condition anyway (I'd even repaired and resprayed the scratches in the front spoiler & replaced the grill mesh before handing it over to them) - had a couple of options that you can't get for love or money on an Accent GS (don't ask) and the car is still a current model that has 2 1/2 years left on it's warranty.

I got $500 LESS than Redbook said the car was worth as a trade, and consider myself to have got a good deal - I am in no way complaining about that end of the transaction.

BIGBADAU:

The XR is financed through FordCredit, my first experience with them.

I found their rates to be competitive with the other major finance companies (I had pre-approved finance with AGC for this car, but the dealerships' finance guy convinced me to look at FC, and they actually got me a slightly better deal), and in the end, one money lender is as bad as the others.

Cheers
Jason
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Old 01-22-2003, 03:23   #7 (permalink)
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twelve months ago, thats right, one year, i traded a mondeo and an ef xr6 manual. the xr went within two weeks. after 1 year, the mondeo is still on the lot. they gave us $9k, and are asking $15k. that car has been there so long, and is now 8 years old, the best they can hope for would have to be $11. after the costs of preparing the car for sale, and then interest on the lease, they will be losing money when they get rid of it. much better to have slapped a reasonable price on the car in the first place. no car dealer can afford to sit on any used car for a year. must be mad.
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Old 01-22-2003, 03:33   #8 (permalink)
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JR did you check the balloon at the end of the finance period. I actaully work with AGC and get finance for about 6 %, hahah nice and CHEAP!
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Old 01-22-2003, 03:39   #9 (permalink)
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Yeah but you will find that dealers change the price on cars on a weekly basis most of the time.
They get it doll it up and put a maximum price on it.
Then they have a "sale" and slash the price then put it back up then back down a little.
It's all about following the flow on second hand cars and buying at it's cheapest.
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Old 01-22-2003, 04:35   #10 (permalink)
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Quote:
Originally posted by BIGBADAU
JR did you check the balloon at the end of the finance period. I actaully work with AGC and get finance for about 6 %, hahah nice and CHEAP!
Balloon is the same...

Since I DON"T work for a finance company, I, like most of the general public don't get 6% interest.
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