| hopper |
Has anyone got offers on a trade-in?
The dealer offered me $13,500 for my '01 base model w/ 73k miles, roof rack and tow pkg:3:
Is he for real? I was expecting him to offer 17k. Am I crazy.
what is the deal with this? |
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| G. COLTON |
quote:
Originally posted by hopper
Has anyone got offers on a trade-in?
The dealer offered me $13,500 for my '01 base model w/ 73k miles, roof rack and tow pkg:3:
Is he for real? I was expecting him to offer 17k. Am I crazy.
what is the deal with this?
I do not know about Virginia, but for my zip code he was right on what Edmunds thinks trade should be for a base model. I did not check Kelly.
G |
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| eurohazard |
http://www.kbb.com/kb/ki.dll/kw.kc....&;;uct;&6;AT;MD
I hope the link works. But it shows (if its in "excellent" condition) a worth of $14,300 for a "trade-in" value. Most vehicles are "good".....only you can judge though.
Remember you will ALWAYS get more if you sell it outright to some dude. The dealership is all about making money. They WILL make money on the vehicle you purchase, and they WILL make money on your trade-in. |
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| jford62 |
| I just got $13,250 for my '01 w/72,000 miles when I traded it for my new '06. It really was in excellent condition, so I was disappointed that it did not hold a little more resale value. I had it on Autotrader for $15,900 for three weeks and had very little interest....I finally gave in, as the incentives and 2.9% financing were coming to an end and I wanted the '06. |
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| socalJD |
| Agree with what the others have posted, if you go to Edmunds or KBB, you should get close to average (good-fair condition) trade-in value. Doesn't matter if your ride is immaculate, dealers will only give you good or fair, since they need to clean/fix it up to sell. If you have high mileage (>100k), they'll ding you more since they will have to wholesale it. If you're a great negotiatior, you might get slightly more, but expect good-fair trade in value. Another option is to go to CarMax - they'll give you a free appraisal for your car and it's good for 7 days. If the dealer lowballs you, you can always sell it to CarMax. Good luck. |
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| hopper |
Thanks for the advice. Sounds like I either have to accept the low trade from the dealer or sell it myself.
I may try tomorrow |
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| Echo2625 |
quote:
Originally posted by hopper
Has anyone got offers on a trade-in?
The dealer offered me $13,500 for my '01 base model w/ 73k miles, roof rack and tow pkg:3:
Is he for real? I was expecting him to offer 17k. Am I crazy.
what is the deal with this?
There are 2 ways to buy vehicles:
Retail to retail or wholesale to wholesale.
If you expect to pay wholesale on the new vehicle you will only get wholesale on your trade.
If you pay retail sticker on the new vehicle to can expect to get retail (or close) on your trade.
Right now they are giving away 2006 MDX's.....you will get only wholesale for your trade.
All this being said, I would shoot for $15K and accept $14K...they should be willing to go $14K to make the deal.
Good luck! |
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| SDTS |
quote:
Originally posted by Echo2625
There are 2 ways to buy vehicles:
Retail to retail or wholesale to wholesale.
If you expect to pay wholesale on the new vehicle you will only get wholesale on your trade.
If you pay retail sticker on the new vehicle to can expect to get retail (or close) on your trade.
Right now they are giving away 2006 MDX's.....you will get only wholesale for your trade.
All this being said, I would shoot for $15K and accept $14K...they should be willing to go $14K to make the deal.
Good luck!
Not entirely true. If you are buying a car that is SELLING for MSRP due to demand, then you are still going to only get you "kbb good range". If you are paying for MSRP for a car they will discount, then they are only showing you what you want to see...retail for your trade.....when they are really just taking the profit on the car you are buying.
But the way the majority of buyers like on this board buy cars, you leave a dealer so little room to play, that you are going to see the brutal truth as to what your trade is actually worth. Which means you did good!!!!
The thing about cars selling for MSRP......when you buy a car, that is the type of car you actually WANT to buy and you want to HOPE that it stays that way for as long as possible...that is what gets you strong resale value. Once the dealers start selling your cars at big discounts, you are effecting the resale values on your very own cars! Of course...the real people to blame for this are the manufacturer's for making so damn many of the cars!!!! It effects our ability to hold gross cause we have so many, and it drives down the resale value on your cars cause there are so many in the marketplace!
Sorry for the OT. |
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| hopper |
How would this playout with a '07 MDX.
Are they going to be MSRP or will discounts be offered?
If MSRP, does that mean trade-in is worth more or still poor? |
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| SDTS |
it means that it will have no effect on your trade. If the demand is high on the vehicle you are buying, it can almost count against you, as there are others right behind youwaiting to buy the vehicle.
Very few dealers usually lose deals to trade ins. Unless someone is appraising trades that realy does not know what they are doing, you will find almost all dealers will be very close to one another as to your vehicles trade in value.
The difference is usually that we deal with the actual market everyday and what is actually selling and not selling. The public gets their info from the net and what people are trying to sell the vehicles for in the paper. Thatis why you usually see such a large difference in what a dealer pays compared to what a consumer wants for their trade in.
You want the best example f the difference...look up the value of a Volkswagon...then go find what dealer wil pay...HUGE difference as that franchise is dying FAST.
All that being said, will a dealer still try to steal your trade....sure.....just like you are trying to get our car for as little as possible. As long as you are BOTH realistic in your opinions of a vehicles value, than trade ins never make or break deals.
Rule of thumb...when you are trying to get an idea of your car deal, expect somewhere in the neighborhood or $1000-$2000 below wholesale book for your car. The closer to wholesale book you get, the better job you have done!!!! |
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| hopper |
If a vehicle is traded in for 1k- 2k below wholesale trade, then what will it sell for on the lot?
Will it still sell for retail?
How much does it cost to recondition? and what is done to it? |
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| Echo2625 |
quote:
Originally posted by SDTS
Rule of thumb...when you are trying to get an idea of your car deal, expect somewhere in the neighborhood or $1000-$2000 below wholesale book for your car. The closer to wholesale book you get, the better job you have done!!!! [/B]
I guess every area is different.
I have NEVER received less than wholesale for my trade and I pay invoice (or very close to it) for the new vehicle. Depending on the vehicle, I can get half (or more) of the hold back money as well.
The only vehicle I paid slightly over invoice for was my X in 2004. I paid $500 over invoice which was a great deal at that time. |
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| Ceenit |
Carmax has consistently given me a better deal when selling my old car to a dealership. Not sure how their model is different from that of other dealerships, but I am two for two in getting a higher price from them (first time $800 more, second time $1200 more).
In both cases, I did not end up trading for another car, I only sold the old one to CarMax.
I agree doing it on your own will definitely give you an extra 1-3k, but depending on your personal perspective, it is sometimes worth not having to deal with. |
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| azfansinnc |
| For comparison's sake, the dealer just offered me $19K for an 03 Touring Navi with 39K miles. NADA, Edmunds and KBB all rate the same vehicle (clean condition) at around $23K (Trade-in Value). |
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| JL_SS |
quote:
Originally posted by azfansinnc
For comparison's sake, the dealer just offered me $19K for an 03 Touring Navi with 39K miles. NADA, Edmunds and KBB all rate the same vehicle (clean condition) at around $23K (Trade-in Value).
The sites usually don't account for the current incentives - subtract the $2.5K current incentive and you are closer to the dealers offer. |
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