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Real-World Trade-In Values

38947 messages,  Last post on Dec 08, 2009 at 12:48 PM

You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester

What is this discussion about? Car Buying

Appraise your car get trade-in, private party, dealer retail values.


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#38790 of 38947
Re: General question on trades [longislander1] by lrguy44
Oct 28, 2009 (10:11 am)
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Replying to: longislander1 (Oct 28, 2009 5:38 am)

First of all, we agree on one issue - a dealer should respond to all e-mails. We do that on a regular basis. With that in mind, only about 1% ask for a negotiated price in the e-mail. Most are just surfing or have specific questions on a vehicle. I will provide a price if asked, but if pressed for a "best price" I will give just that - my best price. I do not play games.
Your attitude in your posting is offensive to those who are professionals and in the business for many years. I guess it is the generalization that all dealers and their products are bogus is offensive. Of course it is my job (just as it may be in your business) to maximize profits - but because of the relationships built over the years much of my business (and that of most professionals) is repeat and referral. When done right the car business is like any business.
#38791 of 38947
Re: General question on trades [kirstie_h] by longislander1
Oct 28, 2009 (10:34 am)
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Replying to: kirstie_h (Oct 28, 2009 9:43 am)

Thanks, Kirstie. I agree. To stay on topic, I suggest that after posters get their trade-in value on here, they read two very useful Edmunds' articles, "Confessions of a Car Salesman" and "Confessions of an Auto Finance Manager," to better understand what they might be getting into when they walk into a dealership with the trade.
#38792 of 38947
Re: General question on trades [longislander1] by volvomax
Oct 28, 2009 (1:21 pm)
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Replying to: longislander1 (Oct 27, 2009 1:28 pm)

Throughout this soap opera you haven't indicated what car you are trying to buy and what your trade in is.
Why don't you give us that information and we can see if you are correct on your numbers?
Contrary to your low opinion, salespeople don't get paid if they don't sell a car. If there is a way to make a sale, they will find it.
Maybe you are way off on your estimation,maybe the tone of your email was wrong, maybe you really did run into a really lazy salesperson.
#38793 of 38947
Re: 2008 Honda Civic LX [jobrien0101] by volvomax
Oct 28, 2009 (1:28 pm)
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Replying to: jobrien0101 (Oct 26, 2009 4:18 pm)

Figure $13,000
#38794 of 38947
Re: wrecked car and trade in value [billlee] by volvomax
Oct 28, 2009 (1:30 pm)
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Replying to: billlee (Oct 26, 2009 7:05 pm)

Can't speak for Carmax. I believe that virtually all CPO programs state that the car cannot have frame damage. Cosmtic damage, properly repaired is ok.
If the accident is on the Carfax, most places won't want to try and retail it.
 
I'd keep after the ins co. Owning a Pontiac may make it difficult to really asses the diminished value, since the whole brand has diminshed value right now.
#38795 of 38947
Re: General question on trades [volvomax] by jayrider
Oct 28, 2009 (1:32 pm)
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Replying to: volvomax (Oct 28, 2009 1:21 pm)

volvomax --- if I have a very popular car --super pristine-- low miles-- that I have leased for almost 3 years -- still a month or two left -- buyout is 20k but retail is 23k. Hypothetically if I showed up at a dealer and wanted a new volvo suv -- would a dealer be willing to take my car in trade for 21k--payoff the note and give me 1k toward the new car?
#38796 of 38947
Re: General question on trades [jayrider] by volvomax
Oct 28, 2009 (3:15 pm)
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Replying to: jayrider (Oct 28, 2009 1:32 pm)

Well, that depends on what the trade in is actually worth.
If the car is really worth $21k, fine. If it's not, then you are looking at an overallowance scenario. You just end up making the new car that much more expensive.
#38797 of 38947
Re: General question on trades [volvomax] by jayrider
Oct 28, 2009 (3:45 pm)
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Replying to: volvomax (Oct 28, 2009 3:15 pm)

Will see when the time comes. Every dealer somewhat different. Knowing your customer base - what they like and what they will pay will probably be a factor as well. Nothing to lose -- always turn it in and walk. No disposition fee on my lease papers.
#38798 of 38947
Re: General question on trades [jayrider] by mikefm58
Oct 29, 2009 (9:38 am)
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Replying to: jayrider (Oct 28, 2009 1:32 pm)

Hypothetically if I showed up at a dealer and wanted a new volvo suv -- would a dealer be willing to take my car in trade for 21k--payoff the note and give me 1k toward the new car?
 
Don't forget, you typically have to pay sales tax on the buyoff amount because you are actually buying the vehicle from the leasing company and then trading it in to the dealer. The state is going to get theirs somehow.
#38799 of 38947
Re: General question on trades [mikefm58] by jayrider
Oct 29, 2009 (10:10 am)
Reply

Replying to: mikefm58 (Oct 29, 2009 9:38 am)

If I trade in my leased car before the lease is up am I responsible for the buyout or does the dealer handle that? I drive up -- give you the keys and lease papers and get a new ride. Don't think I'm responsible for taxes.

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