Trade-ins
09-25-2002, 07:38 AM
#1
Registered User
Thread Starter
Join Date: Sep 2002
Location: Chicago, IL
Posts: 23,397
Likes: 0
Received 0 Likes
on
0 Posts
Trade-ins
Have any of you who have taken delivery had a trade-in also? I've been thinking of ordering a Z and trading my current car, but I now realize that if I place the order now and give the dealer a deposit, they may try to screw me on the trade once the Z is delivered. It would be very easy for them to give me a really low trade-in figure once the Z shows up and I've already given them my deposit. Are there any ways to combat this? I guess I could make them put in writing that my deposit is refundable, but this possible situation is a bit daunting. Any thoughts, guys? I appreciate it...
-Jon
-Jon
09-25-2002, 07:44 AM
#3
Registered User
Join Date: Jul 2002
Location: Des Moines
Posts: 498
Likes: 0
Received 0 Likes
on
0 Posts
Some dealerships will buy your car outright, especially if you have a 1000 dollar non-refundable deposit down on a new car. The down side is you lose the tax benefit of having a trade in. There was also one dealer that I talked to that would commit to kelley blue book value - pending no significant change in miles/appearance/etc.
09-25-2002, 08:16 AM
#4
Registered User
Thread Starter
Join Date: Sep 2002
Location: Chicago, IL
Posts: 23,397
Likes: 0
Received 0 Likes
on
0 Posts
I figured I'd try to get them to commit to the KBB value, as you said, providing the car is in the same condition and with an adjustment for added mileage. Considering I barely put any miles on the car in a year, I didn't think that'd be a big deal. I guess I'll see what some dealers say and try to get them to commit to some deal in writing.
09-25-2002, 09:08 AM
#5
Registered User
Join Date: Jul 2002
Location: New Jersey
Posts: 1,040
Likes: 0
Received 0 Likes
on
0 Posts
Do what I did. I asked the dealer to give me a price if I trade it in now. Technically they could take your car before the other one comes in and still put that difference towards the new one. Then you say you will think about it and try to sell it yourself privately. KBB trade in is still about 7-10% more than Galves, they book they use. My dealer offered me $16,000 for my Tacoma, KBB said trade in was $17,200 and I sold in privately for $18,200...
Jason
NJ
Jason
NJ
09-25-2002, 11:39 AM
#6
Guest
Posts: n/a
the dealers in Lexington Ky are flat trying to screw me on my trade! I have a 1999 Corvette Coupe. it is nicely optioned with the 6 speed and sport seats along with the glass top and memory package. it only has 18,000 miles garage kept. Perfect! well these arrogant sobs want to give me wholesale which is 24,000. needless to say it will be on www.thevettenet.com tomorrow for 33,000. then i will buy a Z in Cincinnati Oh.
09-25-2002, 12:10 PM
#7
Registered User
Join Date: Aug 2002
Location: Louisville
Posts: 82
Likes: 0
Received 0 Likes
on
0 Posts
Eagle-Lex and others
I spent 3 years in the auto industry, mostly selling TO dealers. I know for a fact the following:
The trade-in value a dealer gives you is almost always different from what they call the ACV (Actual Cash Value)
In some cases they will "allow you more than what the car is really worth (ACV)
In the case of the Z, they want to make more than sticker. One way is to try and "steal" your trade. (give you less than ACV.
Many dealerships train their Sales People and Managers to "de-value your vehicle prior to having it appraised by the Used Car Manager. They will walk around your car with a pad and paper and actually touch every flaw on your car. This gives you a the feeling that "maybe its not worth what I thought"
In summary, sell your car outright if possible. I recently sold my 99 Acura TL 3.2 for $5000.00 more than what the Stealer said it was worth.
Give me a break!
Good luck!
The trade-in value a dealer gives you is almost always different from what they call the ACV (Actual Cash Value)
In some cases they will "allow you more than what the car is really worth (ACV)
In the case of the Z, they want to make more than sticker. One way is to try and "steal" your trade. (give you less than ACV.
Many dealerships train their Sales People and Managers to "de-value your vehicle prior to having it appraised by the Used Car Manager. They will walk around your car with a pad and paper and actually touch every flaw on your car. This gives you a the feeling that "maybe its not worth what I thought"
In summary, sell your car outright if possible. I recently sold my 99 Acura TL 3.2 for $5000.00 more than what the Stealer said it was worth.
Give me a break!
Good luck!
Trending Topics
09-25-2002, 12:14 PM
#8
Guest
Posts: n/a
so true!
well, its official my car is now for sale
http://www.autotrader.com/dealers/vi...ler_id=5502806
thanks for the great web site and i cant wait to join you guys in Z bliss!
well, its official my car is now for sale
http://www.autotrader.com/dealers/vi...ler_id=5502806
thanks for the great web site and i cant wait to join you guys in Z bliss!
09-25-2002, 12:45 PM
#9
Registered User
Join Date: May 2002
Location: Chesapeake, VA
Posts: 439
Likes: 0
Received 0 Likes
on
0 Posts
Re: Eagle-Lex and others
Originally posted by ericn
In summary, sell your car outright if possible. I recently sold my 99 Acura TL 3.2 for $5000.00 more than what the Stealer said it was worth.
Give me a break!
Good luck!
In summary, sell your car outright if possible. I recently sold my 99 Acura TL 3.2 for $5000.00 more than what the Stealer said it was worth.
Give me a break!
Good luck!
Funny you mentioned a '99 TL. Mine goes up for sale tomorrow for $20,900. It's red, very clean, 38K miles, and has the Navigation system. I had the dealer appraise my car 4 weeks ago (when I thought my Z would be here by now) and they said $17,000 - $17,500 with some negotiation room. So I was hoping for $18,000. KBB says it's worth around $17,000 for trade-in, but NADA and Edmunds put it around $18,600 for trade-in. So I guess I'll see what happens. Where did you advertise to get it sold? I put mine in the local paper and on their website.
09-25-2002, 01:02 PM
#10
Registered User
Thread Starter
Join Date: Sep 2002
Location: Chicago, IL
Posts: 23,397
Likes: 0
Received 0 Likes
on
0 Posts
Re: Eagle-Lex and others
Originally posted by ericn
I spent 3 years in the auto industry, mostly selling TO dealers. I know for a fact the following:
The trade-in value a dealer gives you is almost always different from what they call the ACV (Actual Cash Value)
In some cases they will "allow you more than what the car is really worth (ACV)
In the case of the Z, they want to make more than sticker. One way is to try and "steal" your trade. (give you less than ACV.
Many dealerships train their Sales People and Managers to "de-value your vehicle prior to having it appraised by the Used Car Manager. They will walk around your car with a pad and paper and actually touch every flaw on your car. This gives you a the feeling that "maybe its not worth what I thought"
In summary, sell your car outright if possible. I recently sold my 99 Acura TL 3.2 for $5000.00 more than what the Stealer said it was worth.
Give me a break!
Good luck!
I spent 3 years in the auto industry, mostly selling TO dealers. I know for a fact the following:
The trade-in value a dealer gives you is almost always different from what they call the ACV (Actual Cash Value)
In some cases they will "allow you more than what the car is really worth (ACV)
In the case of the Z, they want to make more than sticker. One way is to try and "steal" your trade. (give you less than ACV.
Many dealerships train their Sales People and Managers to "de-value your vehicle prior to having it appraised by the Used Car Manager. They will walk around your car with a pad and paper and actually touch every flaw on your car. This gives you a the feeling that "maybe its not worth what I thought"
In summary, sell your car outright if possible. I recently sold my 99 Acura TL 3.2 for $5000.00 more than what the Stealer said it was worth.
Give me a break!
Good luck!
I don't relish the idea of trying to sell my car myself either, though. I don't want some jackass taking it out for a drive and destroying my transmission and/or clutch. Unfortunately, I'd be trying to sell a 2000 Integra GS-R, which happens to be on the lists of a lot of kids.
I don't know. I gotta think all of it over. I'll see what some dealers say before I order the Z. Maybe I can get them to put some kind of agreement in writing that says they'll give me the KBB or the NADA book value as fair trade at the time of delivery. Of course, I realize I could definitely collect much more if I sold the car myself, but I'm not sure which headache is worse, in all honesty. That's where the thinking comes in...
09-25-2002, 01:03 PM
#11
Registered User
Join Date: Aug 2002
Location: Louisville
Posts: 82
Likes: 0
Received 0 Likes
on
0 Posts
Re: Re: Eagle-Lex and others
The guides can be misleading. The dealers use a "Black Book" and auction guides. I think $20,900 is a reasonable asking price. If you take $19,800+ you will be way ahead of the game. The TLs are very solid reliable cars.
Good Luck
eric
Good Luck
eric
Originally posted by Todd
Funny you mentioned a '99 TL. Mine goes up for sale tomorrow for $20,900. It's red, very clean, 38K miles, and has the Navigation system. I had the dealer appraise my car 4 weeks ago (when I thought my Z would be here by now) and they said $17,000 - $17,500 with some negotiation room. So I was hoping for $18,000. KBB says it's worth around $17,000 for trade-in, but NADA and Edmunds put it around $18,600 for trade-in. So I guess I'll see what happens. Where did you advertise to get it sold? I put mine in the local paper and on their website.
Funny you mentioned a '99 TL. Mine goes up for sale tomorrow for $20,900. It's red, very clean, 38K miles, and has the Navigation system. I had the dealer appraise my car 4 weeks ago (when I thought my Z would be here by now) and they said $17,000 - $17,500 with some negotiation room. So I was hoping for $18,000. KBB says it's worth around $17,000 for trade-in, but NADA and Edmunds put it around $18,600 for trade-in. So I guess I'll see what happens. Where did you advertise to get it sold? I put mine in the local paper and on their website.
09-25-2002, 01:09 PM
#12
Registered User
Join Date: Aug 2002
Location: Louisville
Posts: 82
Likes: 0
Received 0 Likes
on
0 Posts
Re: Re: Eagle-Lex and others
It can be a headache, no question. For me, it wasn't that bad. Make sure and go on every test drive and tell them up front that you take care of your vehicles. So, please don't drive hard. I would qualify each person prior to the test drive. Without being rude, make sure they have the ability to buy the car now. None of this "I'm savin up to buy it crap".
At least you have a car that will sell quickly. You will get alot of calls.
Think of it this way: If it takes 10 hours of your time and you get an extra $2500-3000, that is $250-$300 per hour. That's more than most of us make!
Good Luck
At least you have a car that will sell quickly. You will get alot of calls.
Think of it this way: If it takes 10 hours of your time and you get an extra $2500-3000, that is $250-$300 per hour. That's more than most of us make!
Good Luck
Originally posted by WashUJon
This is exactly what I'm afraid of. I've bought 3 cars in my lifetime and all used. I've never bought a new car, much less had one on order and the thought of them screwing me on the trade when I take delivery gives me nightmares.
I don't relish the idea of trying to sell my car myself either, though. I don't want some jackass taking it out for a drive and destroying my transmission and/or clutch. Unfortunately, I'd be trying to sell a 2000 Integra GS-R, which happens to be on the lists of a lot of kids.
I don't know. I gotta think all of it over. I'll see what some dealers say before I order the Z. Maybe I can get them to put some kind of agreement in writing that says they'll give me the KBB or the NADA book value as fair trade at the time of delivery. Of course, I realize I could definitely collect much more if I sold the car myself, but I'm not sure which headache is worse, in all honesty. That's where the thinking comes in...
This is exactly what I'm afraid of. I've bought 3 cars in my lifetime and all used. I've never bought a new car, much less had one on order and the thought of them screwing me on the trade when I take delivery gives me nightmares.
I don't relish the idea of trying to sell my car myself either, though. I don't want some jackass taking it out for a drive and destroying my transmission and/or clutch. Unfortunately, I'd be trying to sell a 2000 Integra GS-R, which happens to be on the lists of a lot of kids.
I don't know. I gotta think all of it over. I'll see what some dealers say before I order the Z. Maybe I can get them to put some kind of agreement in writing that says they'll give me the KBB or the NADA book value as fair trade at the time of delivery. Of course, I realize I could definitely collect much more if I sold the car myself, but I'm not sure which headache is worse, in all honesty. That's where the thinking comes in...
09-25-2002, 01:31 PM
#13
Registered User
Join Date: Aug 2002
Location: socal
Posts: 458
Likes: 0
Received 0 Likes
on
0 Posts
I was trading in my '89 supra with 190k miles back in 1999 to buy a Honda Odyssey. The Honda dealer offered $800. I said no way. The car was in perfect shape and ran well. I didnt want the hassel of selling privately so I took it to used car dealers. One dealer offered $1200 but the second dealer offered $2500 cash! So I took that offer
It only took me two hours total for that work.
It only took me two hours total for that work.
09-25-2002, 02:29 PM
#14
Registered User
Join Date: May 2002
Location: Chesapeake, VA
Posts: 439
Likes: 0
Received 0 Likes
on
0 Posts
Originally posted by g35or350z
I was trading in my '89 supra with 190k miles back in 1999 to buy a Honda Odyssey. The Honda dealer offered $800. I said no way. The car was in perfect shape and ran well. I didnt want the hassel of selling privately so I took it to used car dealers. One dealer offered $1200 but the second dealer offered $2500 cash! So I took that offer It only took me two hours total for that work.
I was trading in my '89 supra with 190k miles back in 1999 to buy a Honda Odyssey. The Honda dealer offered $800. I said no way. The car was in perfect shape and ran well. I didnt want the hassel of selling privately so I took it to used car dealers. One dealer offered $1200 but the second dealer offered $2500 cash! So I took that offer
It only took me two hours total for that work.
Only once before have I tried to sell a car and I ended up having to trade it in. So this is a new experience for me.
09-25-2002, 02:38 PM
#15
New Member
iTrader: (7)
Join Date: May 2002
Location: Atlanta
Posts: 4,959
Likes: 0
Received 0 Likes
on
0 Posts
Since I bought from a very small dealership, they didn't want my trade-in, a 2002 IS300 Sportcross. Its a rare car, with fewer than 2500 sold last year and there is no kbb or edmunds value, so I went on guesswork. I advertised in auto-trader, and put it on ebay. I think I messed up on ebay, because I used no-reserve with a 27k start price. probably should have put a 27k reserve with a low start price to pique some interest. Anyway, never got any bites, so first I went to carmax. They offered me 27300, then I went back to the dealer I bought it from and they gave me 27400 today. Its a little less than its probably worth, but the frustration of selling it on my own was too much.
09-25-2002, 02:39 PM
#16
I am in the same boat. My Z will be here around 11/4. I have been trying to sell my 2001 Spa Yellow S2000 for $28K OBO. The car only has 1750 miles and is garaged. It is in superb shape and so far my best offer has been $26.5K. It is a steal at $28K I feel but probably would sell her for $27.5K. I'll trade before I sell it to someone wholesale. KBB says $27K. The Black book a bit less. I am afraid I have been bitten by the Z bug however and gotta sell it. Any takers?
Thread
Thread Starter
Forum
Replies
Last Post