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Smart Shopper Real-World Trade-In Values
38827 messages, Last post on Nov 06, 2009 at 10:28 AM
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get trade-in, private party, dealer retail values.
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Hello, Perhaps the biggest Problem that I see with shoppers who have done research on the net as a salesman is trade-in value. So I decided to start this topic. I can, through acess to information not generally available to the public, get you a pretty good idea of what your trade may very well be worth. This is not a guarantee, but maybe I can help! Bill
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The shopper will search the internet sites looking for trade in values. Naturally, they will believe the highest number. Trouble is, in the real world, the trade is often worth much less to a dealer. Why would they pay 10,000 for a car that go's begging at the auctions for 7500.00. Or a car nobody wants? The Neon or Hyundai will rot on the lot and the dealer knows it! Even the wholesalers don't want it. Or a Volvo that is brown with a 5 speed and a cloth interior? The "book" might say 12,000, but any dealer knows the car is saleproof at almost any price! |
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Hi folks, OK, what are the cars that are being bought as trade-ins and being kept by the dealers rather than being sent to auction? Are these all brand animals as in all Hondas, all Toyotas, or is it sensitive to models, the Tiburon, the Millenia, Miata, Mustang GT....? This info would be very helpful in narrowing down purchases which trade well after "X" years. Are there vehicles which have better re-sale within 3 years of purchase but lose it after 4 years? And how about those European brands that lose thousands, yet on a % depreciate very slowly when compared to domestic luxury vehicles. Thanks for the topic, Jack Please continue.... |
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Jack, The cars on the market with very strong resale generally arent the price leader ad cars. Generally, these include the following: VW Passat/Cabrio BMWs.. almost all except 750iL Mercedes-Benz Most Audis Toyota Land Cruiser Notice also, that most of these cars are "strong" in the new car market, theyre rarely discounted! Most mass-market cars fall hard, especially mass-produced domestic sedans. And most "economy" brands do very poorly. I can pick up a 99 Kia Sephia at auction for about 7,000. That's for a 4-door automatic sedan with under 20K miles. You just cant buy one of those new cheap enough! Hyundais also do poorly, and I doubt that Daewoos will do well either. "average" Black Book on a 1998 Elantra is $6,000. That's an under 50% residual! Bill |
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for all the shoppers out there....When trading in a car...your more likely to get a higher trade value if your trade is the same brand that the dealer offers. EXample, a ford dealer taking in an Explorer is more likely value it higher than a chevy dealer. No dealer wants a Saturn in trade, and will undervalue the car but the Saturn dealer will put top dollar on a saturn trade...same brand trades are generally the dealers favorites. Unless of course its a super low mileage cream puff. then everyone wants it. Brentwood is using some very good examples for trade values. Rich |
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| How about late model ('98-'99) BMW M3's? I have just started to look for one and the dealer near me (one price dealer) is pricing the '98 at $35k and the '99 at almost $40k! That's almost what they went for new! Are they really holding their value that well, or do you see it as a function of no 2000 M3's being made (meaning that after the 2001 waiting lists are gone and a few are on the lots, the used '98's and '99's will be cheaper, relatively)? | |
| The '98 was a sedan, the '99 a coupe, both stock, both in very good condition inside and out, both 5 speeds. | |
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In the SW anyway, they hold their value really well, as long as they're ext cab and loaded. Also, the trends will swing. The passat is hot now, but, that could change in a few years. No one has a crystal ball. And, when trading a car do your own comparison shopping as a seller. Bring it to a few stores yourself to wholesale it. Sometimes, it's just what they're looking for and they'll give you more than you'd imagine. And find a store who's buying, like, for a special sale or who's low on inventory or, better yet, one of the superstores move into town and they've got a few million to spend to get started. Lots of opportunities there! |
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| BMW M3s do hold their value like that. There just aren't enough of them. In fact, if you were willing to spend that kind of money on a new car, they'd definately would return and the net annual cost would be pretty darn low, relatively speaking for a 40-50k car, althought you'd have the cash tied up in it. One caveat, with the new M3 coming out, the prices are gonna drop! | |
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I've found the independents will (at auction) step up and pay more than the franchise stores will for mainstream imports cause they just can't get 'em like the franchisers do! And, the highest prices are paid by the stores who sell the most cars, regardless of brand. One week it';s the honda store, the next the jeep one, all depends who had a good weekend! Domestics, well, yeah, they're a dime a dozen and the used car dept may pay more for clean lo miler. |
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