Nada, Kbb, ...?
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Nada, Kbb, ...?
After receiving bad information (misled?) by a MD dealer about the delivery date and whether my late deposit (August) was a pre-order, I canceled that deal and instead found a dealer with an available pre-order car (Chrome Silver, Touring, 5AT). I was told that the car would be in on Sept. 2nd!!! I assume that meant at the dealership and not arriving at the port (Baltimore?). I'll check.
Anyway, I need to quickly decide what to do with my current car - sell vs. trade-in. Maybe it's too late to try and sell with the upcoming date. I'm trying to get a feel for what I can receive for the trade-in so I can better estimate the financing. Do dealers generally honor NADA or KBB TRADE-IN value (although, there appears to be a big difference between NADA and KBB for my car)? Also, is it any of your experience that there is 'negotiation room' if the dealer's trade-in offer is not to your liking? Thanks for your help.
Anyway, I need to quickly decide what to do with my current car - sell vs. trade-in. Maybe it's too late to try and sell with the upcoming date. I'm trying to get a feel for what I can receive for the trade-in so I can better estimate the financing. Do dealers generally honor NADA or KBB TRADE-IN value (although, there appears to be a big difference between NADA and KBB for my car)? Also, is it any of your experience that there is 'negotiation room' if the dealer's trade-in offer is not to your liking? Thanks for your help.
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Joined: May 2002
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From: maryland
check out Carmax. If you have a newish and good condition car they may give you a good deal, this can be compaired to your nissan dealer offer. I wish I had gone to Carmax with my last trade in because I got a terrible deal at my dealer.
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Joined: May 2002
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From: MI
better double check the date
I was pointed out that many of the dealers are looking at
Sept 02 and translating it to September 2, 2002 when
it may only indicating Sept 2002. Remember your not
dealing with the most intelligent bunch of people.
Haven't you noticed how many people are expecting
delivery on 9/02, 10/02, 11/02. The good thing is at
least you can expect in sept.
Sept 02 and translating it to September 2, 2002 when
it may only indicating Sept 2002. Remember your not
dealing with the most intelligent bunch of people.
Haven't you noticed how many people are expecting
delivery on 9/02, 10/02, 11/02. The good thing is at
least you can expect in sept.
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Joined: Jul 2002
Posts: 223
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From: Fort Lauderdale, FL
The book used to evaluate trades varies by market. Kelly, NADA, and Black Book are the 3 typical choices, but which is used in Maryland I can't tell you. Regardless of the book, you can expect adjustments to the book value based on the condition of your trade, mileage, and market conditions (if a similar car to yours is going for $1000 below book at the auction, the dealer will probably do a "market adjustment" on your trade).
As for negotiating on the trade value, your best course of action is to be well prepared. Find out which book the dealer is going to use, book out your car yourself, and be ready to defend that value less reconditioning expenses.
Josh
As for negotiating on the trade value, your best course of action is to be well prepared. Find out which book the dealer is going to use, book out your car yourself, and be ready to defend that value less reconditioning expenses.
Josh
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NADA (National Automobile Dealers Association) is the preferred method by most auto dealers.
Your best bet is to try to sell the vehicle yourself, as you will get more for the vehicle. However, if at all possible, see if your dealer will work an "in and out" deal for you where you sell the vehicle to the individual through the dealer. That way, the dealer can credit you for the trade-in value and thus reduce the amount of tax you pay on your new Z. You basically trade-in the vehicle and have the dealership immediately sell the vehicle to the buyer you found.
Of course, the buyer has to be willing to wait until the Z arrives, which could be a problem but if they are willing, you can save some tax dollars.
Your best bet is to try to sell the vehicle yourself, as you will get more for the vehicle. However, if at all possible, see if your dealer will work an "in and out" deal for you where you sell the vehicle to the individual through the dealer. That way, the dealer can credit you for the trade-in value and thus reduce the amount of tax you pay on your new Z. You basically trade-in the vehicle and have the dealership immediately sell the vehicle to the buyer you found.
Of course, the buyer has to be willing to wait until the Z arrives, which could be a problem but if they are willing, you can save some tax dollars.
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Joined: Jun 2002
Posts: 61
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From: Florida
Dealers use the black book. It generally is $800-$1000 LESS than NADA. The black book is what the cars are going for at auction. The dealer will argue..why should I pay you $X when I can go to the auction and buy the exact car for $y. Under normal circumstances you can bargain them up by saying because you want to sell me this new car and we are not at an auction. Under these circumstances I doubt it would work. In most states when you consider the dealers offer to buy your car you should consider the tax situation because more than likely you only pay your sales tax on the difference in your purchase price and the trade in given. For example you buy a $30,000 Z and trade in a $20,000 Maxima. You would only pay sales tax on $10,000. In Florida that would equate to getting $21,200 in trade because you would save $1,200 in taxes.
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