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Trading in existing Cars

Discussion in 'Australia & New Zealand' started by MangroveMike, Oct 23, 2014.

  1. MangroveMike

    MangroveMike Member

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    As Tesla Motors don't take trade-ins, what are people doing with existing cars that they/I would normally trade-in as part of the sale ? Tim (of Tesla) mentioned that Stratton Finance have a trade-in service, has any one had experience with using them ? Obviously private sale is an option but I'm not that keen on it for a $100k car.
     
  2. doctorwho

    doctorwho Member

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    My Liberty wagon is ready for the scrap heap! If we are lucky it'll last until the Tesla arrives. We'll probably put it in the shed in our country place and take one ICE car out of circulation.
     
  3. TesAus

    TesAus Member

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    I believe that there is a section on carsales or similar where you can put a car up for trade users to bid on? I also tried selling a previous car (unsuccessfully) via a consignment process where the dealer puts your car on their lot and you only pay a nominal fee for washing and looking after the car until they sell it when they take a cut.

    Previously I have had a reasonable offer by going back to the dealer where I had bought the car and serviced it (as a straight out purchase, not a trade in on a new vehicle I was buying through them) It obviously was less than I might have got via a private sale but I wanted a no risk outcome.
     
  4. MangroveMike

    MangroveMike Member

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    Thanks TesAus, I've done that once before and will give that a crack as well. I did get a ballpark from the dealer back in May (when I thought the Tesla would be here in a month or two, ha) and it was a bit scary (low). However with a more confident December ish delivery time I think I better jump on it so my current car does tick over another year (and ride a scooter/skateboard/bus/bike to work until the Tes turns up).
     
  5. mhh

    mhh Member

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    It's not hard. Either put it on Carsales and deal with the usual spectrum of actual buyers down to time wasting idiots, or drive down your local auto alley and ask for a wholesale price.
     
  6. Gabz

    Gabz Member

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    or send it to the auctions and pay to never have to see it again.. or the last option slip a guy down at the pub some money to burn it out.
     
  7. Mark E

    Mark E Member

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    I generally sell privately - I've even been upset with mates who trade their car in without offering me first option! The price that a dealer will offer you as a trade-in is appallingly low. That being said, if you don't have secure parking then don't meet the prospective buyer at your house. Meet them at a local service station or similar place with plenty of light. If they can't arrange a suitable time window to meet then they are not a serious buyer.

    A mate of mine traded a 3 year old BMW 525 a few years ago. The market value was around $50k at the time. He traded it for $32k.... I'd have been happy to take the car from him for $32k and sell it privately for $45k making $10-12k in the process... from memory the dealer advertised his car for close to $60k.

    Don't forget that the dealer has to provide a warranty, carry the cost of money, cover their overheads, pay a sales rep commission and make a profit. If they don't have a second hand division then they will flip the car to a wholesaler - who will add his own margin and sell it as stock to another dealer. When I bought my last *new* car, I was offered the usual low ball price for my Celica GT-Four - about $10k under private sale value. He also wanted access to the car immediately so that he could move it on and offered a loan car for the 2 weeks before mine was ready. I politely declined and ended up keeping the GT-Four myself and my girlfriend and selling her car instead - privately, to a mate.
     
  8. MangroveMike

    MangroveMike Member

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    I just the price back from the dealer I bought it from and it was ridiculous - an eye-watering $30k less than what I owe. So Gabz either option b) :) (maybe a bit too public) or carsales here I come.
     
  9. MDK

    MDK Aussie Member

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    Depending on what kind of car it is, if it has an enthusiast's forum (similar to this forum) it may be worth posting a for sale ad there.
    I sold my last car that way in less than 12 hours
     
  10. Rodolfo Paiz

    Rodolfo Paiz P85 "Plug and Play"

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    Tesla does accept an older Tesla as a trade-in, right? It's only other brands they can't/won't accept?
     
  11. MangroveMike

    MangroveMike Member

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    In Australia there are no older Teslas (we are still waiting on the first ones to hit our shores) and they don't have anything in place for other brands.
     
  12. salamagd

    salamagd Member

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    Well, there are a few roadsters still running about... wonder what they'd say about trading in those!
     
  13. MangroveMike

    MangroveMike Member

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    Of course, good point.
     

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