Selling vehicle you have agreed to Part Exchange (1 Viewer)

[Mr Colpot]

Has anyone who has agreed to part exchange a motorhome with a dealer, then sold it before the pickup date and then paid cash instead to the Dealer had any issues?

 

[Neckender]

I would think that if you signed any agreement it would be binding.

John.

 

[Cheshirecat57]

Obviously don't know the circumstances, but if the dealer has "over allowed" on your part exchange instead of offering a discount, I would want that discount
Speak to the dealer or elaborate
ie
What have you bought
How much was the px allowance ( what was the px)
Unless it was something special or fairly fresh, I would think the dealer would be delighted at not having to deal with it- I might be wrong

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[Mr Chrysalis]

I did this with a main Toyota Dealer. I was trading an older non-Toyota, and the dealer was happy that I paid the extra in cash.

 

[Nico]

Depends on how desirable your p/ex is to them and if they already have a buyer lined up or expected to make a decent profit when they sell it on. You’d think that money always talks but dealers will always want new trade ins to generate new customers

 

[Lenny HB]

We traded the last van my dealer said to me if you sell it yourself fine. Didn't even try as the trade in price was more than I could have sold it for.

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[SandraL]

We had agreed a trade in price, but at same time also agreed we could sell privately which we did for more than trade in.

 

[Mr Colpot]

I did it back in 2009 with Marquis but I was trading in a '94 Hymer then which they were not going to put on their forecourt. In this case the Dealer will be probably be putting the van on for 6k more than the trade in price so have quite a bit of profit to lose. However I would be paying full windscreen price on the new to me replacement van. I will probably call them before I do anything more anyway. (my prospective buyer hasn't come back yet so maybe wasting my time even thinking about it!)

 

[DP+JAY]

Yes we did that & dealer knocked £1000 off what we were due to pay.

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[zac]

Ask the dealer before you sell it to be sure, when we did ours i asked at the time and they said doesnt matter as long as we paid the balance so i would expect most dealers to be same but then it depends on their margin. Some may know they will get a lot more for yours and might of factored that in, the only way to know would be to ask.

 

[Gaston aires]

I did this once. The dealer was only too pleased to let me sell it privately when I asked him and gave me a good discount instead. Moral. Talk to your dealer first.
Phil

 

[sonny]

Yes I did that and saved a couple of thousand , dealer and me well pleased

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[tacr2man]

I would check with the dealer, as you entered a verbal contract ,
you will soon find out if he was undervaluing your trade by much , and had a buyer lined up to realise the profit

 

[Lenny HB]

I don't like the way a lot of UK dealers work with price to change.
I always negotiate a discounted price on the new van, at least 15% off, then negotiate a trade in price so there are no arguments.
Current van 20% off on factory order and a trade in higher than I could have sold it privately for, 12-14k more than UK dealer offered.

 

[GWAYGWAY]

Sold mine first the really bargained hard with the dealer and got it for what I wanted to pay. Cash is King.

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[Neckender]

Cash isn’t King our last van I took the cash to the dealer and he nearly had heart attack and he refused it because of money laundering.
Said that he could only accept £9000 and the rest off Debit card.
John.

 

[tonyidle]

I did just that a month or two back with my current mh. I agreed two prices with the dealer (with or without trade-in) then sold the van privately. The dealer was happy to agree in advance.

 

[Deleted member 29692]

Cash is King

It’s bloody not.

Cash is a royal pain in the arse to any business.

I’m not talking about paying your plumber £200 here, I mean significant amounts.

As John says many businesses won’t accept cash.

Over £5000 cash in one transaction for a vehicle has to be notified to HMRC by the seller.

Cash attracts significantly higher charges than anything else when paid into a business bank account.

Then there’s the security issues of having large amounts of cash on the premises and physically taking it to the bank.

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