I own a 2004 Palio 1.2 Nv sports in Bangalore. Recently I headed to KHT motors (Tata Fiat Dealership) to look at the Punto 90 hp. I was very impressed by the car. Rock solid and a lot of fun post 2000 Rev mark. As there is some exchange bonus being offered at Fiat to the tune of 15 k. I asked the old car evaluator to take a look at my Palio.
The number he quoted horrified me. 80 k including the exchange bonus!
This is for a car that is running 5 new tires, a brand new Battery and in pretty much top shape.
This got me thinking is buying another Fiat really worth it? Pity considering that the 90 hp really is a good car.
You will always get pathetic resale value from the dealer if you try to sale it to them .What they will do is sale it at open market at a higher price -hence they make 2 fold profit one on your old car and also on the new car. Try selling the car outside of the Dealer you will get a better price .
Guess what, this is the fate of almost all who approached dealers for an exchange.
I am sure that your valuation was actually done by a third party dealer and not actually KHT. The dealers usually outsource this part of the business especially dealing with seconds, etc.. I feel it's because of these dealers, that valuation, in general, drops down.
You should try posting it on Carwale, m sure it'll fetch a good price:-) I too had visited concorde mtrs @ dairy circle to enquire abt the exchange offer. Dealer quotes - 1,80,000 for 2007dec, 23Km run car. The car is out n out serviced by concorde motors only. So decided not to part with my car. Just thought I would add that this phenomenon is not unique to Fiat. Look at the resale value of old cars of similar vintage from other marquees. Look at what Zens & Esteems are fetching. See what the old Accents command in the market.
The resale value for a fiat is bad, but definately not that bad. I bought the same 2004 Palio 1.2 NV Sports (60k) last year for 1.70 lakhs. You should be able to get around 1.5 lakhs atleast depending on the condition of your car.
This is because of the lack of service stations and spare availability as not every road side mechanic is capable enough to tackle the fault aroused.
Actually used cars in Bangalore (read KA regn cars) command a higher value than the rest of the country. Mainly due to the higher road tax and also due to the lower humidity leading to minimal rust formation. Again for Palios service options are one of the best compared to other cities, be it TASS or others.
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