PART EXCHANGING £/£……
….and why it’s a mutually beneficial for client and supplier.
Part exchanging your old assets is a valuable means of further reducing your capital outlay and offsetting the cost of replacement equipment.
Caterquip is open-minded about part exchanging but it’s not without its challenges. Many clients will view a piece of equipment and what it cost them when new, this creates a mindset they will achieve close to their purchase costs.
The amount of ‘discount’ will obviously depend on what you are trading in, the appliance you are looking to buy, and the profit margin of the supplier
The main positive of part exchanging is reducing the anguish of time and hassle because you don’t need to go through the rigmarole of selling privately.
Selling privately can be a painful process. As well as making sure your car is immaculate and you’ve taken care off any necessary repairs, you’ll then need to advertise it.
You’ll have to deal with enquiries over the phone – or, increasingly, via social media – and then have them turning up at your door to inspect the product.
At this point, you’ve still got to face the haggling! Many of us find such conversations very awkward and will jump at the chance to trade in their appliance instead.
It might be easier to part exchange your asset but there are downsides. The most significant is that you’re likely to get less money. For example, a private buyer may have been willing to give you, say, £1,500 for your combi oven, while the dealer’s part exchange value is only £400.
It isn’t necessarily that they are being mercenary. The fact is that the dealer will need to potentially make some money and must factor in retrieval costs, warehousing, marketing, cost of required parts and all workshop and technical costs too. Caterquip assumes responsibility for all these costs, and more often than not, machines aren’t in the condition the seller thinks they are, so we have to absorb the risk!!
The supplier won’t be willing to go above the basic trade in value. Your location and difficulty* in retrieving your item also plays a significant factor in both value and desire to part exchange. Caterquip can deliver all round the UK, but single appliances are often palleted. Our pallet shipper can only deliver but doesn’t collect, making a part exchange unviable. In such cases, Caterquip always advise the seller to sell locally via auction sites, Gumtree or Facebook. Especially in Far Reach communities such as Islands, Highlands or very expensive to get too locations.
*Whilst we always ask the right questions, we can get caught out when we actually collect equipment. For instance, the ground floor kitchen is all of a sudden up or down a flight of stairs, or there is no hard standing between the vehicle and kitchen, doors aren’t wide enough or a corridor had a recent 90 degree bend put in some time after the part exchanged item was first installed………
But alas, a mutually successful part exchange arrangement solves several challenges in that you source the replacement appliance, you move on an un-wanted asset and Caterquip deliver, remove and provide a one-stop-shop solution. Peace of mind achieved.
CATERQUIP’S PART EXCHANGE PROCESS
Caterquip will ask the client to send a single frontal photo of each part exchange item by email. We then assess the make, model, age, visual condition and may ask questions about service history and recent faults.
We will then assess what stocks we have in already, assess number of staff to progress the exchange, likely re sale value and cost of parts we routinely have to change. We then propose a part exchange arrangement for the client to consider.
So, to reinforce, our valuations aren’t a wet finger in the air. They are based on a host of economic led decisions, whilst being mindful that the client needs to a fair solution out of the arrangement too.
If you require a replacement combi, fridge, fryer or dish washer, email me and let’s see if we can broker a decent part exchange solution for you.
Thanks for reading.
Paul
