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Trading HRV 2018 with CRV 2020 with Honda dealer vs selling HRV to a private buyer and financing Honda CRV from Honda dealer

3K views 8 replies 7 participants last post by  pearlwhite01 
#1 ·
Trading HRV 2018 with CRV 2020 with Honda dealer vs selling HRV to a private buyer and financing Honda CRV from Honda dealer, which option is better financially.
 
#4 ·
If you are able to get within 90-95% of a price, I feel like it’s definitely worth it to just trade it in. There are a lot of things after a sale I would like to avoid. I have always traded my cars in. The hassle is not worth it to me. I just traded in my HRV a few weeks ago.

although there are new ways to sell a car now thru carvanna and other companies like that which is a lot easier than private party. They have been known at least recently to give good prices.
 
#6 ·
I always trade my cars in, I don’t like people coming to my house, I don’t want to deal with verifying their funds, and other assorted things. That being said, selling yourself can you possibly thousands more than a dealer trade in. The simple reason is because the dealer needs to make money when he resells it , and he’s going to sell it for what you can get from a private buyer.
 
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#7 ·
I would note that a 2020 vehicle, even if brand new, is now last years model. 1 year depreciation should be factored into the purchase price.

The previous posters all have valid points. There are advantages and disadvantages to either method.

Conversely to Glen, we NEVER trade in our vehicles, always sell them privately.
This is a hassle, takes time, is inconvenient and saves a ton of dough.
Time is worth money and if spending time on vehicles is not your thing, driving into the dealership with the old vehicle and driving out with the new vehicle can be worth the extra cost.

Our situation is unique as I have strong automotive skills, we have 2 garages and tons of parking room on our large lot.
There is no right or wrong method.

And, as Einz mentioned, today's Covid world is a factor also.
 
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#8 ·
Rather than go to a dealership for your purchase, have you considered a broker? I hadn't until I received shoddy treatment at two dealerships where both refused to budge a penny on the price. Via the broker I paid just over £18k for a vehicle priced at around £23k. To put that into perspective, the two dealerships I went to had 2 year old stock on their forecourts that was around £2k more than I paid. He even threw in a few freebies as well, metallic paint (£600)and boot nets (£70).

The only down side was at that time he did not deal with second hand cars, but he put me in contact with an independent dealer. About a week after handing over my trade in to his driver he sent a letter stating there was a few more dings and chips that I had not told him about (there wasn't) and demanded approximately £500 for them to be repaired. Normally I would have told him to do one, but due to work commitments and moving house, I paid up otherwise I may have ended up back with the car.

Fast forward 10 years and my purchase of my HR-V. Went through a Honda dealership not far from me, got a trade in price approximately £750 over what I had been quoted by others, got the vehicle a smidge under the book price and they even threw in a full set of mud flaps, dog guard and bumper protector - all fitted. More importantly, when I started going through some of the chips and dings, they told me they didn't care as they were putting it to auction.

Job's a good 'un!

Whatever method you decide to use to fund your purchase and where you make your purchase, just ensure you do your homework. There are far too many people out there who are more than happy to take advantage of the current situation, and the organisations we normally rely on are pretty swamped.

Regards,

HT
 
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