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Calling Honest John
Does anyone know by how much second hand car dealers mark up their motors? On a 5k car, for instance, how much profit is in it for them?
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Don't tell me........you're trading in the focus for a Quattro
Thirty years back I was doing a job by a used car dealer when a couple of lads rolled up in an American vehicle. They needed cash for it quick and sold it to the guy for £250. The dealer; sheepskin coat etc, just left the car where it was parked, wandered over and declared that 'it won't take long to shift that one'. Half an hour later someone bought it. For £600!
🙂
I suppose it will vary, but on a trade-in, I think its about a 25% mark-up..
Agree with DV - depends on brand, age and quality of the vehicle. Normally it's around 20-25% but if they can push the price down to give you - i've seen 45% profit before. Just make sure that your realise the worth of your car.
I knew a guy who wouldn't buy ANYTHING he couldn't make a clear grand on.
Surely if you get a Parkers guide you can see what the trade and private difference is?
A few years ago I traded in a Honda Accord Aerodeck for £1300 - he went on the forecourt at £2,300
If you want an accurate trade/private sale comparision you need an HPI check - they give you CAP & GLAS quotes (for trade prices) which are typically 2k less than you'd get for a private sale (not all the time, but on average). I'm not employed by HPI anymore but I do recommend an HPI check if buying a used car - some of the horror stories we head from customers was enough to never make me want to buy a car again!
Well done on the Mod for cazzing the spam.
(Last poster's identity gave it away, and I don't mean you M-Duck)
In response, it's about 2K. Which means that an individual trader is looking to clear 10 grand a week in good times. That's profit before tax.