Security of Trade-in Value
hitchglitch
Forum Participant Posts: 3,007
We all know that manufacturers and dealers can go bankrupt, even though rare, and I wonder about the security of any deposit or trade-in value against a new van? If you buy a new model in the Autumn your dealer will want to take your traded-in van straight
away so that he has the chance to sell it. Of course, you can do a deal based on hanging on to your old van until the last minute but the value will be less.
So if the dealer goes out of business, you lose the value of your old van. If the manufacturer goes bust you lose any deposit. Does anybody know of any arrangement with a dealer to mitigate this risk, maybe by using an escrow account?
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