Part exchange?

[Nick 2]

Hi Guys,

As a start up i'm not really liking the idea of taking on part exchanges as I will only be holding no more than 3 cars (bought from auction Grade one or two) at a time and don't want the hassle of taking on a car I know nothing about......So do any of you small, part time, home dealers refuse part exces? If so does it have any affect on your business?  

Thanks again,

Nick.

[Rory RSC 596]

You are going to need to take them.

what if your part ex is a grade one or 2 equivalent ?

you can usually make good money on part exchanges. Most part exchanges that come to me are cheaper than I would pay for them at auction. Considerably.

Very valuable revenue stream. 

[Max Branning 149]

A customer can usually get rid of the car themselves with the likes of We buy any car but as RS says you can take advantage of the fact that the customer wants to offload their old car usually at less than trade price. I love it when a customer says they have been offered £xxx by an online car buyer as i can usually offer them £50 more and still turn a decent profit from it.

Do be prepared to get a lemon though with loads of faults that the customer didnt tell you about. In this situation it is good to have an outlet for these type vehicles either sending them to auction or ebay spares/repair sales.

[SC Derby 259]

You could always stick them through auction yourself if you don't want to deal with them providing you have given the right money.

But personally I agree with the two above, part exchanges can make some good deals become very sweet indeed.

[Nick 2]

Cheers for the replys. Right...Newbie question of the year : ) Where do you guys get your valuations for part exchanges? As I understand the little black book doesn't exist anymore?? I know when I buy from an auction I can check cap/glass prices as there there on the sheet and then also compare on autotrader etc before I even leave the house. I did get a quote to use the Glass service but fuck me they wanted £800 so I don't think so.

[Nick 2]

Cheers for the replys. Right...Newbie question of the year : ) Where do you guys get your valuations for part exchanges? As I understand the little black book doesn't exist anymore?? I know when I buy from an auction I can check cap/glass prices as there there on the sheet and then also compare on autotrader etc before I even leave the house. I did get a quote to use the Glass service but fuck me they wanted £800 so I don't think so.

Just had a chat with CAP -£590+vat these must be what you guys use? Even as a small part time seller? Or just don't take PX?? 

[Tom 164]

Cheers for the replys. Right...Newbie question of the year : ) Where do you guys get your valuations for part exchanges? As I understand the little black book doesn't exist anymore?? I know when I buy from an auction I can check cap/glass prices as there there on the sheet and then also compare on autotrader etc before I even leave the house. I did get a quote to use the Glass service but fuck me they wanted £800 so I don't think so.

Hpi for px so you check its not on tick and written off and tick the boxes for CAP Live and glass's. 

[jamslug 91]

Hpi for px so you check its not on tick and written off and tick the boxes for CAP Live and glass's. 

Good idea if your not doing it on a large scale. Only pay for what you use.

[Max Branning 149]

Yeah we do this as well not sure exactly what it costs but i think its around £5 for a full hpi check with the valuations and around £1 for just a basic vehicle check with the valuations. There maybe cheaper options but this suits me fine.

[Daylight 28]

I personally love a part exchange, it's double bubble if you've valued it right. If it's nice then you've saved the auction fees and got the chance to properly check it out before handing over the cash. No travel time/expense either, it's stock delivered to your door! If it's a lemon then you should be able to spot this and price appropriately, if they don't accept your valuation you don't take it. Simple

I won't chuck the lemons through auction as they make pence, as soon as they get bunched in the Multi Vendor group everyone runs a mile from them as they know they're independant dealer/private trouble.

[jamslug 91]

Yeah we do this as well not sure exactly what it costs but i think its around £5 for a full hpi check with the valuations and around £1 for just a basic vehicle check with the valuations. There maybe cheaper options but this suits me fine.

I got it for £3 per check. I would go back to them, say you are leaving for Experian and they should lower the price.

[Nick 2]

So let me get this right.....Some of you home, low stock, part time dealers use hpi trade.com?? I looked at the app and the reviews say it's terrible. BUT if you guys use it and trust it then i'll give it a go as i've now decided to take on px's. With the HPI check on their website/app do you get Cap/Glass prices as well? All I want is the best HPI check and CAP/GLASS valuations combined, per car, as I only shift low stock. As I said above I could use Cap but not willing to pay £700 just for a few cars a month.

Any help advice appreciated......again : )

Cheers.

[Max Branning 149]

Yes HPI trade does all of the above. 

[Nick 2]

Cheers guys, i'll give them a ring tomorrow.

[Rory RSC 596]

Don't get a better HPI check than using hpi directly. 2 boxes can be ticked which give cap and glasses figures. You will also be able to offer driveaway insurance aswell.