Value.... really?

[CooperS]

Well, today i went along and test drove a Fiat 500 Abarth.

I wont post all my thoughts up of it now although you cant fault it cute, pokey, and fun would summarise it nicely and the salesman was really knowledgeable and enthusiastic

But when it came down to the valuation of my 111R i nearly fell off my chair and even now i'm seriously worried.

I was offered lows 10's for it.... its 04 37k on it.

Now tbh i was more interested to see how the Abarth drove and then see if it would bowl me over to swap my 111R.

But this price was a bit of a shocker! should i really be so surprised?

[21TonyK]

Well, the cheapest in the classifieds is £16K for a 2005 so a 2004 might be £15K, knock off the margin a dealer needs to make, the cost of them offering a warranty, maybe a few hundred to tart it up and a couple of new tyres on, then factor in the fact it could sit on their forecourt for a while and your into low 10's. Even if they shift it on in the trade they will want to make a little bit and the next person has to cover the costs.

Best answer, sell privately.

[bogie]

as above - it sounds normal for a 6 year old car at trade price ...what is there to be "worried" about?

its worth what its worth, and nothing much you can do about it - the Elise holds value better than most cars, think yourself lucky you havnt spent £30k on a new Vauxhall, only to be offered £5K trade for it 3 years later...

if you want the best price for a car - sell private, and be prepared to wait a while

if you want no hassle and get rid fast - sell to the trade or trade it in

[CooperS]

Ah no, i understand.

I wouldn't dream selling it now (winter) or selling to a FIat dealer who would have to move it on through trade.

Just didn't really appreciate that you could get a 111R for £10500..... and considering less than 6 months ago i paid alot more than that for it i was shocked.

Sorry didnt put in that im not really considering selling it now. i love it and its perfect (coming from a well known dealers in the first place) and actually driving a 'sporty' warm hatch makes your realise how special elises are.

Edited by CooperS on Saturday 6th February 16:05

[21TonyK]

Don't forget you can't get a 111R for £10.5K, that's what it's worth trade, not retail. Think yourself lucky, the other day I was reminded of a car that lost me £21K in 7 months!

[CooperS]

21TonyK said:

Don't forget you can't get a 111R for £10.5K, that's what it's worth trade, not retail. Think yourself lucky, the other day I was reminded of a car that lost me £21K in 7 months!

Thanks.

Just rushed the classifieds and cheapest was 15.5k so lets say he let it go for 14.5 the punt i got today was probably 4 k off if i'm serious with myself.... (

[John D.]

21TonyK said:

Don't forget you can't get a 111R for £10.5K, that's what it's worth trade, not retail. Think yourself lucky, the other day I was reminded of a car that lost me £21K in 7 months!

Is that where your name comes from then?

[21TonyK]

John D. said:

21TonyK said:

Don't forget you can't get a 111R for £10.5K, that's what it's worth trade, not retail. Think yourself lucky, the other day I was reminded of a car that lost me £21K in 7 months!

Is that where your name comes from then?

Just spotted that. Quite apt really, but no. 21 was just a fortunate year for me and it's stuck.

[Loudman]

Yeah, what a dealer will offer for your car as trade in does not reflect what it is worth. If you figure that normally buying a car £15k car off a dealer will get you the same as a £12-13k car from a private seller, and that they will also look to take an extra couple of grand off that for their troubles then thats where a circa £10k offer comes from. As stated above, only trade a car in if you want to get shot quick or can't be bothered, but you won't normally get a competitive price for it compared to what you could sell it for yourself.

[bogie]

as an example - I have a 2006 Vantage, trade price - £28-30K ish, private sale maybe £38K ...if you are a trader and take in a £10K Elise, you need to service it, put a warranty on it, cover your overheads and make *some* profit ...even a car salesman operating from outside is house is going to have to stick £2K on trade price (what he gives you) to stay in business, let alone anyone with real (expensive) premises and staff to pay for..

[twisted2fit]

10.5k ...i think the dealer is having a laugh. I sold an alfa romeo gt 6 months ago....lovely car 20 thousand miles on the clock...good spec....one dealer offered me 8k but a specailist alfa dealer saw my add flew up from london and bought it for 11k. A dealer mark up at that price bracket should not be more than 2k....id atleast expect 12-13k from a dealer for ur car. Call up the specialist or part exchange it for something that u can make a deal for rather than something the dealers can shift easy.

[Ruxpin]

Abarth dealers are currently in a very good position. They have a very desirable product and no shortage of people looking to buy. Waiting lists are 3+ months and from what I have heard cash no part ex buyers are fairly common.

I wouldn't be too depressed by the figure as at the moment I don't think the dealers need to try too hard to sell the available cars - there was no chance of a discount when I bought one
I can't see Abarth dealers needing to bid too high on a part ex

[LRGS2]

I was offered £10K for my 03 S2 Sports Tourer (K-Series)with 47K about 6 months ago. I think nearer £12K would be more realistic from a dealer as Autocar reckoned you couldn't buy a 111R for under £14K.