Vehicle trade-in question

soup dragon · 08-12-2010, 20:10

this is for any car dealers on the forum (or anyone that knows!)

I am going to be buying a used car in the new year (i know VAT is going up, but not got the cash until then) and i will be trading in my current car. My sister has shown an interest in my car as it is better spec than hers and has asked me to swap cars and trade hers in so she can have mine. Question is do i have to register the car as mine in order to trade it in?

Scrubbs · 08-12-2010, 20:19

let her buy the car you want and change ownership at the garage, then change ownership of your old car to her later.
I traded in my old car toa garage, but my wife signed the papers for the new car , so the new car belongs to her. so i was down one car and a few grand in cash

I did get a good reward though

Peter_ · 08-12-2010, 21:31

Quote:

Originally Posted by soup dragon

this is for any car dealers on the forum (or anyone that knows!)

I am going to be buying a used car in the new year (i know VAT is going up, but not got the cash until then) and i will be trading in my current car. My sister has shown an interest in my car as it is better spec than hers and has asked me to swap cars and trade hers in so she can have mine. Question is do i have to register the car as mine in order to trade it in?

If you have proof of ownership with a receipt and the logbook the garage should take your sisters car in part exchange without any issue.

Do not let the car be registered in your sisters name and then transferred into your own name as that will just give the car 2 owners and potentially lower the resale value.

If required your sister can always accompany you to the dealer for the part exchange as she is getting your car as part of the deal.

haydnwalker · 08-12-2010, 22:18

How come you would swap your car with your sister to trade hers in (possibly for a lower resale value due to her car being of a lower spec??). So wouldn't you end up out of pocket potentially?

I'd want the most cash possible for my car...

---------- Post added at 22:18 ---------- Previous post was at 22:17 ----------

The vehicle can be registered in anyones name, so long as you can prove you are the legal OWNER.

Remember: You can own a vehicle without being its registered keeper. The V5 Logbook only lists registered keepers, not owners

Arthurgray50@blu · 08-12-2010, 22:44

Word of warning due to experience. When trading in your car, take it it to a garage or dealer you know and trust, my son got ripped off by a well known dealer, DON'T fall into the same trap, take care, and if you are not 100% sure of a good deal, pull out.

ChrisLUFC22 · 09-12-2010, 17:55

Quote:

Originally Posted by Arthurgray50@blu

Word of warning due to experience. When trading in your car, take it it to a garage or dealer you know and trust, my son got ripped off by a well known dealer, DON'T fall into the same trap, take care, and if you are not 100% sure of a good deal, pull out.

http://www.parkers.co.uk/# have a useful tool for checking car values (you have to pay for vehicles over 10 years old though) so I'd check this and if its somewhere near you know it's pretty much accurate.

soup dragon · 09-12-2010, 19:05

thanks for the replies

both cars are astras, hers is 2001, Y reg, basic model and mine is a 2000 W SXi, i need to check the values from the Parkers link thx for that.

ChrisLUFC22 · 10-12-2010, 17:25

No problem, happy to help

Peter_ · 10-12-2010, 18:47

Quote:

Originally Posted by soup dragon

thanks for the replies

both cars are astras, hers is 2001, Y reg, basic model and mine is a 2000 W SXi, i need to check the values from the Parkers link thx for that.

Your car is likely to be worth more being an SXi, has she checked how much her insurance will rise with that car and even how much extra road tax she will pay.

dazzer89 · 11-12-2010, 10:49

Quote:

Originally Posted by soup dragon

this is for any car dealers on the forum (or anyone that knows!)

I am going to be buying a used car in the new year (i know VAT is going up, but not got the cash until then) and i will be trading in my current car. My sister has shown an interest in my car as it is better spec than hers and has asked me to swap cars and trade hers in so she can have mine. Question is do i have to register the car as mine in order to trade it in?

You'll be OK just taking your sisters car down to the dealer on the day. I used to do this with my dad, I used to buy his cars then he'd part chop mine against a new one.

Flyboy · 13-12-2010, 14:17

Quote:

Originally Posted by soup dragon

this is for any car dealers on the forum (or anyone that knows!)

I am going to be buying a used car in the new year (i know VAT is going up, but not got the cash until then) and i will be trading in my current car. My sister has shown an interest in my car as it is better spec than hers and has asked me to swap cars and trade hers in so she can have mine. Question is do i have to register the car as mine in order to trade it in?

There should be no issue with you using someone else's car to part exchange against a car that you are buying. It will help if your sister is present at the time the paperwork is completed. A good dealer will insist upon this.

As far as the VAT is concerned, it really shouldn't make much of a difference, if at all. The increase of VAT due on a used car, is quite small, compared to that of a new one. VAT is calculated on the gross margin of the car. That is the difference between the dealers purchase cost and the sale price. If the dealer bought the car for four thousand pounds and is selling it for five thousand pounds, the extra cost, after the increase, is just twenty-five pounds. But, theoretically, the car you want to buy, will have a reduced value next month, greater than the increase in VAT. Something for you to take account of when you are negotiating the deal. Most dealers will jut ignore this and absorb the cost, or they will just leave values as they are. Other less flexible ones, will increase the price by up to one hundred pounds, citing the increase in VAT as the reason why the car as gone up in value since the previous month.

Look around now and take a note of values on forecourts. Business is quite slow now, so there is a chance the car you want to buy will still be there after Christmas. Very often though, it does pick up quite briskly around the New Year.