September 05, 2016
7 Tips for Downsizing Your Car
Downsizing? Here’s how to avoid being ripped off Downsizing? Here’s how to avoid being ripped off!
We spend part of our lives getting into bigger cars and then suddenly, with the family grown up and gone, we don’t need such a large vehicle any more.But there is a financial risk in trading-in a big car for a smaller one. The danger often lies with the fact that bigger cars can be heavily undervalued against one that is in more popular demand. It can be a bit of a miss-match for a dealer whose valuation will be curbed accordingly.Here are a few ways of minimizing losses.
1. Consider downsizing in two smaller steps to get to the car you want rather than taking the drop all in one go
2. Sell your own car privately. This is frequently the best way, especially for a larger, more upmarket vehicle. You might not get as much as you expected but you are clear of it.
3. That frees you up to buy whatever you want as a cash, or largely cash, customer. And that is where you can make up the difference in the lower price for your own car. As a customer with no trade-in you can drive a much better bargain.
4. Make sure your car is in spotless condition and that its service record is up to date. It can mean a lot of money.
5. Check the bona fides of any buyer. Be wary of handing over the keys until all payments have cleared your bank.6. Buy new or used from a reputable dealer.
7. If buying a secondhand or UK used import check out the car’s history on the likes of MyWheels.ie. Take no one’s word for anything. Check. It is worth the few euro.
