Currently reading: No bucks for banger trade-ins
Autocar
News
1 min read
24 November 2003

Anyone trying to trade in an older car at a franchised dealer is having an increasingly hard time of it, according to trade price guide Glass’s.

Main dealers are coming round to the opinion that passing on older cars is becoming more trouble than it’s worth and are refusing to take them as part-exchanges, even if it means losing out on the sale.

Autocar used car expert John Coates isn’t surprised by the trend. ‘For most big franchises bangers start as late as P-reg. With the expensive warranties offered by approved used schemes, plus the huge drop in values suffered by much newer models, why would dealers want to be saddled by selling less profitable, less reliable stuff on the forecourts?’ And there’s no financial incentive to punt them out to other sources.

It’s not all bad news, though. Even though values are dropping sharply, older superminis are still in demand because of their universal popularity among private buyers. Older MPVs and big off-roaders are also doing good business, so trading them in for a newer model shouldn’t be too much of a problem, either.

The good news, say the experts, is that anyone trying to harness as much cash as possible for their older motor now has a better chance at auctions. Buying cars under the hammer is now a more popular hunting ground for private buyers and prices are rising.

Advertisement
Advertisement

Find an Autocar car review

Driven this week

  • Mini JCW GP 2020 UK first drive review - hero front
    6 July 2020
    First Drive
    The fastest production Mini yet has 302bhp, a 0-62mph time of just 5.2sec and...
  • Ford Kuga 2020 road test review - hero front
    3 July 2020
    Car review
    SUV practicality, Focus underpinnings, plug-in hybrid tech: is this another...
  • Alpina B3 2020 first drive review - hero front
    3 July 2020
    First Drive
    Bavaria's alternative M3 gets an added injection of performance and...

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Mini JCW GP 2020 UK first drive review - hero front
    6 July 2020
    First Drive
    The fastest production Mini yet has 302bhp, a 0-62mph time of just 5.2sec and...
  • Ford Kuga 2020 road test review - hero front
    3 July 2020
    Car review
    SUV practicality, Focus underpinnings, plug-in hybrid tech: is this another...
  • Alpina B3 2020 first drive review - hero front
    3 July 2020
    First Drive
    Bavaria's alternative M3 gets an added injection of performance and...