posted 6 years ago

Hyundai's Trade and Upgrade Scheme Tempts Motorists

Hyundai's Trade and Upgrade Scheme is tempting cash conscious motorists to reach for their long-suffering chequebooks.

Hyundai's Trade and Upgrade Scheme is tempting cash conscious motorists to reach for their long-suffering chequebooks. This offer is essentially a 'guarantee' to pay a minimum part exchange value for any qualifying trade-in. So, order an i10 Classic to receive at least £1,500, specify an i20 for £2,000 plus, or slide into the family-sized i30 for a minimum £3,000 contribution towards a shiny new motor. Does that sound appealing?

The Trade and Upgrade Scheme is available throughout Hyundai's range, with the exception of the stylish ix35 and ix20. However, the 'qualifying trade-in' has to meet some specific criteria. For example, the soon to be replaced vehicle must have been registered between January 1st 2001 and March 31st 2004. It must have covered no more than 100,000 miles, be insured and taxed, and have at least fourteen days left on the MOT.

So, let's consider a real life – not made-up - example. Gentle George is a six-foot eight inch wrestler who owns a pocket-sized Daewoo Matiz SE. His 2002, 80,000 mile, example has a normal trade-in value of £495. George now fancies some extra room for his lengthy legs, so orders an appealingly spacious Hyundai i30. Therefore, despite the Matiz being worth less than the fuel in its tank, George receives a pleasing £3,000 for his old banger.

All this is fine and fair, but it is worth double-checking the maths for yourself. After all, some dealers have been known to offer extremely favourable trade-in sums, only to recoup the cash by over charging for the replacement vehicle. This is a general point only, and certainly not aimed at any particular company. It is, however, something to bare in mind while evaluating the overall package. Happy shopping.