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Old 17th September 2017, 18:24   #46
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Default Re: Low-balling by the dealer during exchange of your car

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Originally Posted by locusjag View Post
The Orange Book Valuation (OBV) off of the home page of team-bhp gives a 'Fair' or 'good' condition value of around Rs.1.8 Lakhs onwards for your car's specs...assuming you're selling to a dealer. Try selling to an individual.

Edit - I wonder why the OBV tool doesn't ask nor take into account the garaging zip code, the title (whether clean or if under loan) and the number of owners. This is what all the used car valuation algorithms in the USA go by.
* Garaging zip code matters due to geographically variable factors such as corrosion, likelihood of damage to suspension and underbody due to road conditions etc. Also, it's important to be able to tell if the car could have been hit by floods, hail etc.
* Title matters to individual buyers a lot since there are delays and hassles involved if the seller is still under loan and the title is hypothecated to the financing company.
* Number of owners matters because...well, the fewer the better, ostensibly.
I eventually did sell to an individual, through OLX. We settled for 2L; the buyer seemingly liking the condition of the car in general.

I do agree with your other observations though. Personally, I'd give preference to a car that has been well maintained wrt the mechanicals rather than one that just "looks good". One can always care for the cosmetic parts later, knowing that the vehicle is going to serve him/her reliably.
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Old 18th September 2017, 01:53   #47
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Default Re: Low-balling by the dealer during exchange of your car

I faced the same thing when I was buying my new car. I had a Feb 2009 model Swift VDi (which I had adored, see my ownership thread for more information) and had clocked about 1,07,000 kms on it. Since it was a diesel swift, that too a 2009 model, it was in pretty good demand in the used car market. The fact that I had maintained it well and had a few decent (read tastefully) modifications, I was expecting a good price. When I hot Hyundai to take a look, they offered my 1.5 lakh.

This was on the 23rd of March, and I was planning on buying the elite i20 CRDI Asta(O) variant on full cash (thank you, dear grandparents!!). Now, I needed to buy the car before the 31st, as my dad was strict on getting the car before the end of the financial year.

Using this as leverage, and with a lot of background checking, (I heard that they were offering a 30K exchange bonus) I forced them to give me 2.3L + the 30K, totalling 2.5L for the Swift! Not bad for a car I paid 5.3L for, is it

My advice when dealing with car dealers for the exchange of your old car, demand the money and say you will sign the deal for the new car the moment you get the required quote for the old one. Sadly, it is the only way you can deal with car dealers in our country, as they are all looking to make the maximum gain at the buyer's expense.
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Old 21st January 2018, 12:58   #48
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Default Re: Low-balling by the dealer during exchange of your car

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In Jan 2017, despite knowing very well my WagonR should never be sold to Maruti for exchange, I gave-in just because those guys at Nexa said free evaluation. Despite refusing several times they said no strings attached & probably the thought of giving them another count to show on their job, I yielded.

Sure my WagonR was 13 years old pristine only with engine with visible visual blemishes & repainted door & bonnet & replaced quadra panel, they quoted Rs 65000. It was shockingly disappointing Even the RM at Nexa himself agreed the quote was low. However the evaluator showed some fancy tablet & said based on some inputs he obtained this figure. Since I knew all these drama, I smiled & moved on.

Anyway, I got double the price of what they quoted eventually.


My incident may be one of a case or I might've been lucky, but I got exactly what I quoted from Olx, absolutely no negotiations or whatsoever. Key was patience, research the market & quote a realistic & not inflated price. Had politely knocked off all the unwanted impatient buyers & broker one by one. I listed the car in Jan 2017 & sold on 19-Mar. I had 2 buyers who agreed to all my terms & conditions inclusive of price, date of sale, paper works & to my convenience. But I agree there were 1000 different questions from 100 different folks & eventually I would say just 1% turned into actual sale.
Thanks for sharing your experience. In a somewhat similar situation, and would like to sell my 2002-model Wagon-R LX. Have been low-balled by 3 different dealers and considering selling direct via Olx / Quikr -- however the recent incident in Bangalore where the person selling their car was kidnapped/dissapeared does cause some concern. There is definitely all kinds of shady characters lurking on those sites.

Are there some precautions to be taken when selling automobiles on such sites (apart from general caution) ? What form / mode is payment collected ? In what acceptable parts/when (S.a. after some handover, then remaining after something else is completed) ? Is the quoted figure inclusive of RTO transfer charges ? Who is responsible for the RTO transfer work ? If there is an existing dedicated thread for this topic, would be grateful for a pointer as I couldn't locate one.
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Old 15th February 2018, 13:26   #49
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Default Re: Low-balling by the dealer during exchange of your car

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Are there some precautions to be taken when selling automobiles on such sites (apart from general caution)?
Better be safe than sorry; most of the time rely on your instinct & common sense. Go through TBhp threads.

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What form / mode is payment collected?
Bank transfer is safest method

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In what acceptable parts/when (S.a. after some handover, then remaining after something else is completed)?
Didn't understand

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Is the quoted figure inclusive of RTO transfer charges? Who is responsible for the RTO transfer work?
Buyer
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Old 16th February 2018, 00:00   #50
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Last August, when we were planning to sell off our 3 year old City iDtec VX, the Skoda dealers offered Rs. 6.5 Lacs. I tried using cars24.com but quickly realized they were just a sham. They quoted Rs. 5.5 lacs. In the end, I sold the car on OLX for Rs. 8.6 lacs, which I believe is a fair price given how immaculately the car was maintained.

So, I guess it's always better to sell to an individual rather than a dealer or a reseller to get the best price recovery for your old car.
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