Part Exchange Numbers - ADVICE NEEDED

[David83S3]

Hi Audi folk

So my dealer has just called to tell me some rather disappointing news .... they have revalued my current car and are now saying they can only give me £707 equity in my car rather than the original £1000. This obviously leaves an outstanding balance of £293 to make up my agreed deposit.

As you can imagine this has not put a smile on my face

So .....where do I stand with this? I have my original signed paperwork with the original numbers on it (£1000 equity) ....I am not keen on paying this extra..!!!

Anybody got experiences similar to this?

 

[A3Kent]

Sell it privately?

See what Webuyanycar have to offer?

 

[The Challinor]

If they have said and signed on £1,000 surely you should get £1,000 mate. What's their reason?

 

[David83S3]

Selling it privately will definitely get me more dollar for it....but its the hassle...

WBAC are quoting even less than Audi garage

Yes ...I think if I signed for £1000 then that is what I should get .... He is throwing all the "I cant do any further discount as I have given you such a good deal already" ....Blah Blah BLah ...!?!?! I might just email him and state we signed for £1000 and that is what the deal was based on .....(SIGH) ....Really didn't want this to deal with (Which is probably what he knows and thinks I will just take the easy option and pay it ....Well .....I am not the type of person to do that ....I will go out of my way to make sure this deal is exactly how I want it and what we agreed.

My only grey area on the signed contract is it states £9500 and a settlement figure on my car of £8500 ...this has obviously changed.....

 

[jimbo_50001]

Order forms usually have small print on the back which indicate how the value of any part exchange vehicle is to be treated. For example my small print from Sytner currently says "the exchange value quoted by Sytner shall be binding for one calandar month unless a different period is stipulated on the order" and basically says the value will be reviewed at time of part exchange if after one month. I got them to guarantee the px value and put it in writing via email to try and protect myself against this situation.

So check your small print. How much % discount did you get on the deal? If nearer to 10% then typically i would say you have maxed out the deal already and they are less likely to budge. Whereas if you are nearer 5 or 6% then logic would suggest it might well be worth digging your heals in because there is still some further "discount" in the deal.

Keep us posted

 

[Rob2k68]

I think I'll be in a similar situation but with -'ve equity rather than cutting the car loose for what it owes me. I didn't get a very generous discount so I'm hoping to factor this in and get an overal better deal when it comes time to sign all of the paperwork as Jimbo suggests above this may be a good option. Maybe also tell them you'll leave any removable extras in your car that you may have looked to keep and sell on matts, load liner, etc.

 

[SJC]

Majority of garages now will adjust p/ex value on trade in unless agreed on making the deal. Imagine if you took said car and then clocked up rocket miles on it. It would then be worth less to the garage.

It is always best to have this documented on your paperwork as well. As you never know 3-4 months down the line and your salesman has moved on and ooo... no this is not the case and could not have been agreed.

I think it will have to be put down to lesson learned.

 

[David83S3]

I have just sent him this email ......

Hi Gary
Just digesting what you said ….. I have to say I am somewhat disappointed that after signing the deal for £1000 equity in my car and structuring my entire decision on these figures, that we are now having this discussion. Just looking online to benchmark your new quote …

(There was a picture here of an online valuation showing £8555 exchange value)

This quote is £41 off my required £1000 equity. Being a first time Audi customer and wishing to continue with the Audi brand I would expect us not to be discussing £41 on a £35000 car……

I would therefore ask that you revise your quote to cover the agreed and signed for £1000 equity. I hope that we can agree on this and not muddy the water on what has been so far an enjoyable buying experience.

Kind Regards
David

 

[Pulp84]

I am surprised they would upset a customer and make a deal more complicated over £293. However, dealers being dealers I can believe it.

I had the same on more orderr form - £1,500 noted as part exchange and that was agreed as a fixed figure where I needed to wait 5 months for my car to be built.

I'd be kicking off personally

 

[David83S3]

Its typical sales guy stuff......out to get every last penny off you !!

 

[JordanQuattro]

Surely your order form will say that they're giving you said amount at the time of handover?

 

[David83S3]

Surely your order form will say that they're giving you said amount at the time of handover?

Just been reading over my "contract" ....it just says £9500 for car £8500 settlement ....leaving me with £1000 equity. Nowhere in the T&C does it state this can change .....in fact it states quite clearly "only sign this if you are happy to be bound into the contract based on the details herein" ....and he signed it too!!! So he is bound to it too .....

 

[Liquidfusion-S3]

Maybe he's trying to make a £293 addition to his bonus

 

[David83S3]

Maybe he's trying to make a £293 addition to his bonus

Thats exactly what he is doing .....squeezing out those last few pennys from me !!!! Lol ..... well im holding my ground and not paying a penny more. Ive had a response back to my email .......

 

[David83S3]

Hi David,
As I said earlier you have to take into consideration a lot more than just the figure on the internet, IE That’s a figure for now and not March when the market is flooded with Part exchanges and also we have given you a massive discount I totally appreciated that you was expecting more but unfortunately we cannot predict what the market will do.

On a standard deal we sometimes have a cushion to help in these situation but the massive deal we have done you we just don’t have that.

I will ask the manager again but to be honest I know that’s the best I can do. If there’s any more I can do I will let you know.

Thanks

 

[David83S3]

"I will ask the manager" ...Ha!! Sales tactics !!

 

[steeve]

If you're not happy tell him as they've broken the contract you'll cancel the car and they will need to refund any deposit in full.

 

[J4MMYz]

HAH. Absolute t*ssers, I haven't read many replies, so I don't know if it's sorted but heres my story:


It wasn't Northampton Audi was it? I had the exact thing, I was fuming. They were giving me 4,500 for the car which was already low enough for me. I then went back and they revalued it to 4,200. I tried everything on them when I was there, they wouldn't give me any free servicing or nout.

I got home and I was fuming, so I rang back and asked how much deposit I get back because I want to cancel, since they are being so stingy over 300 quid, they don't deserve my 26k cash, thats a lot of money to me (the 300 quid) - nothing to them + they promised to keep 4.5k for the car if I didn't drive it for the 3 months - which I didn't. I put 300 miles on it since then, I got lifts from people and used my dads/girlfriends car, I biked to work unless it rained I was very much p*ssed off.

They rang me back 15 mins later, wanting to confirm that I was happy with the deal, but not happy about the part ex (they were giving me 1k discount as I didn't find out about carwow until I ordered, so it was nice they gave me that - but I argued that it's now 700 quid discount because of that) I obviously agreed and they said what if we gave 300 pounds extra discount to compensate, as they can't do anything about the price of the car because of figures, so I agreed, and got 1.3k discount and 4.2k for the car

I wondered why they gave me a lot of free stuff on handover + nearly a full tank, obviously because of that, there was another time I threatened to cancel, thats when I found out I could've had 3k off my order from Coventry, but since I was several months into the order I did not want to cancel, thats when they originally offered 1k discount.

Was a shame as my dealer and the finance manager, are very nice and friendly. The dealer would ring back no matter what, even if it was at the end of the day past they hours they work if they had been busy, I've been to a lot of garages that will never phone back when they say they do, utter annoyance - so praise for them on that, I even told them that when I picked the car up. I would still go back, but with coventry offering 3k discount who the heck will go back?


Just thought i'd share my experience with you, it's a tough one but don't let them walk over you.

 

[Reggieboy71]

I would stick to your guns as you have paperwork signed by you & the salesman on an agreed figure which you have used to work out finances and purchase the car you want. They can't just move the 'goal posts' to suit them!! He is stating the obvious by saying your car would be worth less in 3 months time but that was a signed and agreed figure. As Steeve says either cancel or bite the bullet andlet be a leson that won't happen to you again.

 

[cuke2u]

One of the reasons I am no longer in a Ford is because the dealership also renegaded on a deal for my partners new fiesta. We had the ford offer on paper but when we went in to pay for the new car we were informed that because of depreciation the mazda 2 was worth £500 less. I did kick up a stink and managed to get £200 back and free valeting for whenever we asked for one. However I wasn't that disappointed as they had given us well over any book price and they ended up only breaking even, thus it may be they realised there mistake and attempted to cut their losses. However I suggest you hang in there, tell them you feel cheated to the point of walking away from the deal unless they either keep to the deal or offer you something else worth about the same, such as servicing, as a concession.

 

[Rob2k68]

Yes defo stick to your guns as per the paperwork you have. Can't believe his reply to be honest - you could turn that on its head and say to him that the S3 is less disirable now the RS3 has been announced.

Out of interest what was the "massive discount" in % terms ?

 

[steeve]

I've always been told that the dealer wouldn't guarantee the trade in of my car at the time of collection as it's usually been between four and six months. They've always guaranteed it for a month. So I usually either sell it privately or let them have my car early as I can easily manage without.

So it's well worth getting them to confirm how long they will hold the trade in value for.

 

[JordanQuattro]

Just been reading over my "contract" ....it just says £9500 for car £8500 settlement ....leaving me with £1000 equity. Nowhere in the T&C does it state this can change .....in fact it states quite clearly "only sign this if you are happy to be bound into the contract based on the details herein" ....and he signed it too!!! So he is bound to it too .....

Yep. I'd just kick off about it, they'll squel if you kick them hard enough

 

[David83S3]

HAH. Absolute t*ssers, I haven't read many replies, so I don't know if it's sorted but heres my story:


It wasn't Northampton Audi was it? I had the exact thing, I was fuming. They were giving me 4,500 for the car which was already low enough for me. I then went back and they revalued it to 4,200. I tried everything on them when I was there, they wouldn't give me any free servicing or nout.

I got home and I was fuming, so I rang back and asked how much deposit I get back because I want to cancel, since they are being so stingy over 300 quid, they don't deserve my 26k cash, thats a lot of money to me (the 300 quid) - nothing to them + they promised to keep 4.5k for the car if I didn't drive it for the 3 months - which I didn't. I put 300 miles on it since then, I got lifts from people and used my dads/girlfriends car, I biked to work unless it rained I was very much p*ssed off.

They rang me back 15 mins later, wanting to confirm that I was happy with the deal, but not happy about the part ex (they were giving me 1k discount as I didn't find out about carwow until I ordered, so it was nice they gave me that - but I argued that it's now 700 quid discount because of that) I obviously agreed and they said what if we gave 300 pounds extra discount to compensate, as they can't do anything about the price of the car because of figures, so I agreed, and got 1.3k discount and 4.2k for the car

I wondered why they gave me a lot of free stuff on handover + nearly a full tank, obviously because of that, there was another time I threatened to cancel, thats when I found out I could've had 3k off my order from Coventry, but since I was several months into the order I did not want to cancel, thats when they originally offered 1k discount.

Was a shame as my dealer and the finance manager, are very nice and friendly. The dealer would ring back no matter what, even if it was at the end of the day past they hours they work if they had been busy, I've been to a lot of garages that will never phone back when they say they do, utter annoyance - so praise for them on that, I even told them that when I picked the car up. I would still go back, but with coventry offering 3k discount who the heck will go back?


Just thought i'd share my experience with you, it's a tough one but don't let them walk over you.

That helps me out a lot!! Thank you ....I think I know what i need to do

Yes its Northampton Audi

 

[David83S3]

Yes defo stick to your guns as per the paperwork you have. Can't believe his reply to be honest - you could turn that on its head and say to him that the S3 is less disirable now the RS3 has been announced.

Out of interest what was the "massive discount" in % terms ?

Massive discount was roughly 9.5% and not a bad idea on the RS3 point haha .....I want to keep it calm for now ...but if they push I will kick back

 

[C2 DTN]

Cheeky ********. My dealer agreed my PX price back in November, and its actually gone up £300 as im collecting this week instead of March the 1st. Stick to your guns, he will soon change his mind if you tell him you dont want the car anymore !

 

[J4MMYz]

That helps me out a lot!! Thank you ....I think I know what i need to do

Yes its Northampton Audi

You got 10% discount? And there's them telling me they don't give discounts, bullsh*tters

I'll go on Carwow next time and get the best deal now I know of it

 

[David83S3]

I will stick to my guns!! Will see what response i get tomorrow.

Will keep you all updated

Thanks for all the advice / opinions

 

[Dtwm1]

I had a problem with my order non-value related granted, anyway in my order pack was the email address of the head of business. I emailed him and said I wanted to meet with 2 days later, I didn't say what it was regarding and remained friendly, went a long and sat in a quiet corner of the dealership and had it out for an hour which resulted in them sorting me out. If you're confident in confrontation and having it out I'd really recommend it, no keyboard or phone to hide behind.

On a different note, I had a huge issue when I got my citroen ds3 in 2012 the head of business was 'too busy' to see her and the sales manager was very rude so she ended up interrupting another salesman and explained to a prospective customer how bad the service was and told them to visit another citroen garage. Needless to say they sorted the issue very quickly. Ps I have awful luck with cars.

 

[Simonb1975]

Echoing others, stick to your guns. They probably wont want you cancelling as they already have someone else's S3 kicking about due to the wrong gearbox being fitted.
Out of interest, who'd you deal with ?

 

[David83S3]

Gary Wright

 

[RichardT]

My dealer valued my car when I ordered. Delivery was to be about 16 weeks. This was early last year and just when the saloon delivery times went through the roof.
It eventually took 30 weeks before I collected. But they assured me all along that they would honour the trade in (which was slightly more that WBAC.com, even initially, let alone by the time I got the car)
Anyway, I was half expecting them to decrease the offer when I went to pay. But they actually gave me another £250 for the old car in compensation for the wait!
This was Milton Keynes. Much better experience I had there than Northampton.

 

[David83S3]

About to send this email .......

Good Morning Gary
I hope you are well.
I have read through my contract and had time to think about our conversation yesterday. To assist in your conversation with your manager I wanted to make my position clear. My decision to purchase this car was built on figures detailed in the contract signed by me (The purchaser) and you (The authorised manager). An equity in my current car of £1047 was stated in this contract and it was this figure that I based my calculations on, which then lead to me making the decision to purchase a vehicle from you.

If you are now changing the agreed figures then I see this as a breach of our agreement and the contract. I would therefore be forced to exit the agreement and request a full refund of deposits paid.

As you can imagine I am very reluctant to do this at this stage of the process and somewhat surprised you are willing to risk losing a sale over this, but as matter of principal I will not agree to your request to change the agreement.

Kind Regards
David Northen

...Too harsh ? Or fair enough?

 

[A3Kent]

Sounds fair enough but don't be surprised if they agree to the cancellation of the order as they are in the position of being able to sell the car quite easily to someone else.

 

[David83S3]

Sounds fair enough but don't be surprised if they agree to the cancellation of the order as they are in the position of being able to sell the car quite easily to someone else.

Yeah that's my concern ....I have to be prepared to commit to what I am saying. I obviously don't want to lose my car at this stage .....but at the same time I am a stubborn b*****d and will not agree to pay the extra. Its blatant sales boll***s

I might wait for his response before I start playing hard ball

 

[Bigsanj]

I used www.thecarbuyingservice.co.uk when it came to my px. Audi was offering me the same price as WBAC in the px deal but matched TCBS on the condition the new car wasn't late. Fingers crossed it isn't late!!

The problem you have is that the Salesguy will do anything to get the sale.

 

[jaypers777]

Audi Macclesfield honoured my p/x deal 10 weeks after the order for my S3. Was £2k over book price plus a nice discount off the car. Was never an issue.

 

[David83S3]

Just had a call from them (Not my sales guy ....my business manager). I am due to go in to see my BM tomorrow and he wanted to know how I had decided to pay for the additional required money. HAHA.....I explained that I had made my view on this clear in an email to my SG. He wasn't aware of this and came out with the same drivel that my SG did "You've had such a good deal so far we cannot do any further discount" ...... I then explained my contract and what it stated about part ex .......He then stated that there was another copy of my contract printed after the one I had signed (This was because I asked for the non-smoking pack) and apparently on this order form it stated "Part ex figures to be reviewed closer to the time" ......I have never seen this document ....I have not signed it ......and wasn't even aware it existed. I told him I was disappointed that we are having to have this discussion at this stage of the sale and that I am not paying the difference.

He has gone to speak to the sales manager.

 

[jaguar1187]

Stick to your guns! They just tried a ploy to see if they could get you to pay it with someone else calling you! Wouldn't exepct this dodgy underhand way of trying to get a few measly quid out of you from Audi!

 

[David83S3]

WINNER ..............................

They have decided to adjust the figures on the part ex so that I now have to pay nothing further

I am now with Audi again ......they just needed into shape !!!!