What is the real deal with trade ins?

[jd10013]

Originally Posted by snarky

dealer is not in business to lose money. your car is three & 1/2 years old. they won't give you anymore than it would bring at auction unless you pay more for your new car.

it always amazes me how few people realize that. also amazes me that people really don't understand just how fast a car depreciates. especially a car like a camaro that isn't sought after by much of the buying public.

[shinzon]

galves value, auction prices. Trading in isn't bad if you do your legwork. You pay for a convenience. I would rather deal w a dealer than deal with the many weirdo , tire kickers you'll get selling private. Not too mention those lowball Jos too.

[Bizaro]

The only reason these 'stealerships' bully people over floor mats and a few hundred dollars is because they are counting on the ignorant people to make the sale.

Remind me again why we have to use stealerships and not buy directly from the manufacturer like Tesla is trying to do?

[Angrybird 12]

It's always a good idea to check dealer inventory beforehand, if they have a lot of used cars like yours and few of the car you want you won't have any buyers leverage. Always try to find a dealer that is overstocked on the car you are buying and have few of the kind you are trading in. You will be more likely to get a better deal.

[psm3234]

they offered me 24k for my 2014 1ss. I laughed and had a heart to heart with the salesperson. told him I wouldn't waste his time and please don"t waste mine. they ended up giving me $28,200 and I look on their site now and they are selling for $28,920. stay firm and be honest!!!

[PatsRS]

Originally Posted by AF1Strider

You will get better trade in value when the weather warms up and people are searching for a sports car. On a side note where in NW NJ are you? I'm originally from Hackettstown.

Budd Lake. Hackettstown post office.

[PatsRS]

Originally Posted by Flashpoint135

Trading two cars in on one is not something most dealers are interested in at all. I did it once a long time ago, but only found one dealer that was interested and only because he really wanted my Z28 (and he had to take the other car too to get it). What are you buying? If you are buying something really expensive then you'd have a better chance, but if you are just looking at a 2 for 1 trade on a 30 thousand something car then the number is about what I'd expect.

I'm not saying it is right or reasonable, but it seems about normal.

Going for the Impala 2LTZ. Pretty much loaded.
Gorgeous car. 6 Cylinder 305HP. Leather, Nav etc.

[The_Blur]

Sell it outright if you expect to make money. Bringing it to a dealer for trade is asking them to do their jobs which is to make a profit.

Also, online appraisals are way too biased in favor of you, the customer. They make nothing by being honest, but if they tell you that your car is worth thousands more than the next guy they'll get more traffic. Those sites lose traffic and therefore money by offering reasonable values for your trade.

[PatsRS]

Originally Posted by The_Blur

Sell it outright if you expect to make money. Bringing it to a dealer for trade is asking them to do their jobs which is to make a profit.

Also, online appraisals are way too biased in favor of you, the customer. They make nothing by being honest, but if they tell you that your car is worth thousands more than the next guy they'll get more traffic. Those sites lose traffic and therefore money by offering reasonable values for your trade.

How does anyone know how Dealers make money. I'm sure every part of the deal they touch they make profit on. Why would anyone believe a dealer that cries the blues? What gets me is the dealerships all use KBB or Black book for appraisals to suck you in. Then your information is directed to a sales person. So they get you to believe that the appraisal you just did through them is somewhat valid.

[Red2014SS]

The dealer has to pay taxes on a huge business, has to write checks to a lot of employees, has to maintain millions of dollars of inventory, has to pay a huge electric and phone bill, etc..

The guy down the street does not...

That's why the dealer has to low ball you.

[Mmar88]

Not all salespeople suck, I bought a 2009 g8 gt in 2011 for $25k with 11k miles on it, sold it in 2013 for my 1LE and ended up getting $21.5k for the g8 with 37k miles. Needless to say I'll be a customer of that dealership for the foreseeable future. (All other dealerships were offering $18k and below for the g8 at the time)

[earn88hardt]

bottom line.....if we don't make $1500 on a used car we won't be in business very long.....

[el ess A]

When I retire in a few years, I'm likely going to go work at a car dealer as a salesman. I mean, sitting around in nice clothes, ignoring customers and drinking coffee all day looks like a pretty good job!

j/k. As previously stated, some sales people really are worth their salt. But those are the ones that actually work at building relationships and networks to get their customer base and hold on to it.

I might try my hand at it because I wouldn't have to rely on sales to keep bread on the table and without having to worry about that, I could concentrate on...wait for it....attending to the CUSTOMER NEEDS/WANTS instead of having to make a sale to get by. And if I suck at it and I get fired because of it, so what?

[LStick]

Originally Posted by Red2014SS

The dealer has to pay taxes on a huge business, has to write checks to a lot of employees, has to maintain millions of dollars of inventory, has to pay a huge electric and phone bill, etc..

The guy down the street does not...

That's why the dealer has to low ball you.

I have to agree, although some go above and beyond duty to screw folks over.

Look at the entire picture, if say, you're in a state that has sales tax. You might not pay part of that tax if you trade in on a new car. Might save you a couple of thousand, depending on what you buy and what you are trading in.