Hi folks

Ive done a deal on a new Fabia Monte Estate Tech & it should be with me in september.

Im trading in my car which the dealer has said is worth 7k trade in.

They calculated how much i was still due on my car, my settlement figure.

I asked the sales guy how the finance is worked out on new car arrival day as i will have paid off another £600 by then & his answer was that the dealer would settle the difference but they'd also re value my car & usually one goes up & the other goes down.

Now i was under the impression that 7k for my car was a done deal & ive signed the same & now it sounds like at the last minute they'll try to fleece me on my trade in price & i fully intend on pulling out on the day if they push it.Where do i stand legally because as far as im concerned it would be them not sticking to their side of the agreement by de valuing my car to an unreasonable amount so not sticking to

the agreed price.

I appreciate at a push that it might be worth slightly less & obviously would be if there was any damage or i'd done 10k miles in 2 months but as an idea ill probably only put another 1400 miles on it.so as a token gesture if push came to shove does anyone know what a reasonable drop would be,ie an amount that if i offered it they'd be obliged to take it????

Nothings easy when getting a new car, takes the excitement out of it but once i get things clear in my head ill raise the excitement levels up a notch.

Cheers

Edited 31 July, 201312 yr by Noggythenog

They should value the car now, for what it's going to be worth when the replacement is scheduled to arrive.

 

Every dealer I've dealt with always does.

:i_agree: The price to change that you're quoted should be based on the value of your present car when you change.

Cheers chaps, that was my impression that i would get 7k at the time of handover so any attempts to de value shall be met with some choice words & ill walk away if needs be.

Looking at the paperwork it appears they've covered themselves by stating:-

***N.B. part exchange values are subject to adjustment for month of new car delivery***

So i suppose they can get away with a small drop but what's to stop them suddenly saying they'll give me £500 for a trade in & tough luck im commited to the contract?,there must be amount that is deemed an unreasonable reduction in value.

Im thinking the "book" price would determine that but ill have no way of knowing what "book" price is for my car unless anyone knows of a website that has them?.

Edited 31 July, 201312 yr by Noggythenog

My part ex was valued at time of order and they honoured it come paying and collecting. I'd feel sick if I'd been told my then vRS was worth 5k but then come collection day 4 months later the dealer to say something like the arse has dropped out of the market, etc etc and we'll only give you 3k now. I know I wouldn't have been able to find 2k that quickly so would have ended up on finance. 

My part ex was valued at time of order and they honoured it come paying and collecting. I'd feel sick if I'd been told my then vRS was worth 5k but then come collection day 4 months later the dealer to say something like the arse has dropped out of the market, etc etc and we'll only give you 3k now. I know I wouldn't have been able to find 2k that quickly so would have ended up on finance. 

 

When I ordered my (new) car last year, I got the dealer to remove the line on the order form that mentioned anything to do with changes in the value of my (old) car. Like most people, I thought it would be unreasonable for them to suddenly de-value the old car.........

 

They were made very much aware of how many miles the car will cover before they hoped that the new vehicle would be with them (about 2000 miles a month). They also let me use a car they had as soon as they knew the new one was not going to be delivered as estimated (and they were not at all worried that due to work/ holiday commitments, the mileage on it would be massive) to ensure that both sides did not loose out on the part-ex part of the deal.

 

As far as I'm concerned, they will gain on some vehicles, and loose on others.................

 

J

Tried to do that to a friend even though there was a signed agreement with trade in value. Wasn't until I stepped in with the already troublesome dealer that they backed down. No mention of value going down was ever mentioned. They were just trying to fleece the poor girl.

When my part ex was valued in April I was in the same position.  They got the settlement figure at that time and explained that because I would make another 2 or 3 payments it would be lower at delivery time.

My part ex valuation was made based on what it would be worth at the promised delivery time but it was guaranteed and even if there was a delay in delivery the valuation would stand.

I asked out of interest what the drop was and he reckoned that, ball park figure, for my car the depreciation was around £100 per month.

When my part ex was valued in April I was in the same position.  They got the settlement figure at that time and explained that because I would make another 2 or 3 payments it would be lower at delivery time.

My part ex valuation was made based on what it would be worth at the promised delivery time but it was guaranteed and even if there was a delay in delivery the valuation would stand.

I asked out of interest what the drop was and he reckoned that, ball park figure, for my car the depreciation was around £100 per month.

Thanks eccleshill, that's definately a useful ball park figure to go by although i have emailed the sales guy to state that i wont be accepting less than the agreed price so i have that in writing as being sent to them should they get funny in the future.