Selling Cup Advice / Suggestions

[y0z2a]

Please dont hijack this asking me why I am selling it, but in a nutshell, I have decided that a house it top of the priority list, as i am losing my mind living back at home, and need to sort myself out good and proper with a nice bachelor pad and i am driving far to quickly at the moment... ;-)

I am paying £292 PCM on my car + £1000+ this year in insurance and then another £300 + in petrol every month then tyres @ £100 every 10,000 miles (every 3 months) it all adds up very quickly, and with a mortgage and everything else it will be no fun at all... and you all know what kind of life i lead... i dont want to change that... i dont want to be sat at home thinking oh, i wish i could afford to do that...

I owe some money on the car and want to sell it and buy something cheaper. What are my options. I want to spend about £4.5 k on a car and will go for something of my choice... I know what the various options are in terms of cars, and have a fair idea of what i will go for... but the object is saving me money so that i can pay more for a house rather than go for some dodgy little place where i dont want to live. Our area is silly money for what you actually get in terms of property, but hopefully once i get in there, i will furnish it and then get myself something nice again. (i.e another cup ) Its only me buying so its really hard work ya know...

I Owe finance on the cup (i know how much it is etc.), and think that if i trade it in with a decent dealer i will be able to buy something cheap and cheerful and economical to run around in until i get stuck into the furnishing etc.


Do dealers and more importantly main dealers do this often?
If so, what is the normal procedure for doing this (dealer buying a more expensive car so that someone can downgrade to pay less PCM in finance etc...?)
What can I realistically expect to get for my UK car - 2002 November 52 172 Cup. call it 32k miles (will be by the end of the week) I think I could get £9500 (please no you are out of your head comments - thats what i am pretty sure i can get for it trade in or maybe a little more privately)
Any other helpful comments will be appreciated.

thank you.

y0z2a

 

[norfolkminis]

Try http://www.parkers.co.ukwww.parkers.co.uk you can get a rough retail price. works it out on an average mileage.

 

[y0z2a]

http://www.parkers.co.uk/pricing/used_car/valuation.aspx?car_id=23590&year=2002&plate=52&pay=falsehttp://www.parkers.co.uk/pricing/used_car/valuation.aspx?car_id=23590&year=2002&plate=52&pay=false

I think the price i put is a good reflection. it thinks that it should be nearer 10k but...

 

[jon_r]

A garage is going to give you a pretty crap trade in price against a cheaper car. Infact i doubt they would get anywhere near 9500.

Also your in a bit of a catch 22 situation because your not allowed to sell a car with outstanding finance. Best bet would be to sell the car to a friend, long shot but i found a friend that wanted my DCi and payed me good money for it, but i still had to make up 400 odd quid to clear the finance.

 

[Rich-D]

Selling private is the only way to go unless you wanna lose a lot of money...

 

[Frosty]

The dealers offered me £9,000 for mine. (52 reg with only 8500 miles).

With your mileage I think they would offer a fair bit less.

 

[CUP80Y]

Im in a similar predicament and tried to go this route and trade it in at my selling dealer, they said they will be inundated with about 5-6 Cups in the coming weeks and so dont want mine. But suggested the 9,000 mark is what they would normally be looking at.

I then phoned another dealer who said they also have some at the moment but would be interested if the price was right then promptly took the piss and offered £8250! My car spec is 2003 03 reg 20,000 miles, mint condition.

I reckon for yours they would be looking at max £8500. Strictly speaking you cant sell a car privately if it has outstanding finance, but youd get away with doing it by asking for a settlement quotation from the finance company, sell the car if its viable and the shortfall isnt too great for you to handle, add the amount needed to match the settlement figure and pay them off straight away.

 

[y0z2a]

well, i guess i have to keep lookking / trying...

 

[cupgti]

Get a loan to pay off your finance, then sell the car privately, then with the money you get for the car pay the new loan off, and have whatever left over to buy your new car.

 

[Rich-D]

Quote: Originally posted by CUP80Y on 20 October 2003



My car spec is 2003 03 reg 20,000 miles, mint condition.

Its the mileage thats the problem there though...

 

[darren_hg]

agree with cupgti, i would settle the finance first and then sell privately. Youll get a better offer for your cup.