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Real-World Trade-In Values

38945 messages,  Last post on Dec 07, 2009 at 7:39 AM

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What is this discussion about? Car Buying

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

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#51 of 38945 Right! by blackcurrant Jul 15, 2000 (5:12 am)
Donate it to the cancer society who will auction it off absolute and some sleazebag 'notelot' operator will buy it for a grand, earl shive the paint and sell it to some hardluck teenage, pregnant single mother for 3000 at 28% interest..... Sometimes ya just can't win.
#52 of 38945 bill by blackcurrant Jul 15, 2000 (5:15 am)
Sorry, i couldn't resist. You gave the fella sound advice, it's just, well, the 'real world', isn't it?
#53 of 38945 blackcurrant by im_brentwood Jul 15, 2000 (6:41 am)
Yeah.. prolly so... But imagine the charachters youd get selling that yourself! Bill
#54 of 38945 Real world values by blackcurrant Jul 15, 2000 (3:10 pm)
We agree that trading it in isn't the best idea. Maybe he should sell it himself. THis way he can sell it to someone who needs it. If he doesn't trust it or he knows that it'll end up dying then he might as well donate it as he can get all the value out of it. Of course, if his income is as measly as mine, it won't make any difference to his bottom line as he won't have enough income to write it off from.
#55 of 38945 Thanks, guys... by gcintender Jul 15, 2000 (5:40 pm)
...that's just the kind of straight-shootin' advice I've come to expect from you! I did get the '87 appraised at several Dodge dealers when I was thinking of buying a 2000, and the figures ranged from $500.00 to $1500.00 (the latter against a demo with 7500 miles). Needless to say, the dealers were less than entralled to see me pull up!
#56 of 38945 my two cents by iscotts Jul 15, 2000 (9:53 pm)
I'm not a dealer, nor a tax consultant, but blackcurrant got it right: the donation to charity is a mixed blessing. First, the charity will see a fraction of what you deduct, and secondly, the IRS will examine your deduction very carefully - you are only allowed to deduct what you would realistically be able to sell the car for (not nec. to a dealer). Be careful with the "charity" route, do your research on the charity, and document the value as well as you can.
#57 of 38945 iscotts,you're... by gcintender Jul 15, 2000 (11:20 pm)
...right on with your post. I'm very leery of going the charity route for just the reasons you state. It's always a good idea to stay as far away from the IRS as practical! And blackcurrant, you must be clairvoyant about the income situation - I doubt if the deduction will do me a world of good. I strongly believe I'll go the trade-in route, without expecting the moon and the stars, of course. Thanks to everybody for your time and attention!
#58 of 38945 gcintender by im_brentwood Jul 15, 2000 (11:45 pm)
Yeah,... $500 sounds about right to me.. It's tough to put a hard number on that car.. The donation route was an idea... who knows, right? Good luck, and may I make a suggestion... WHy not try and find a used 2000 or wait for a used 2001 Grand Caravan? That's one of the vehicles where you can save thousands buy buying a 6-mo old one... Just my 2c... Bill
#59 of 38945 About donating by blackcurrant Jul 16, 2000 (12:47 am)
LOL Yeah, i used to recommend it too until i got myself into a situation where i had to budget my family's income month-to-month. (i'm not proud of it) Anyway, it wasn't long ago that i would've thought the same way as Bill. It can be a good deal if you have hi-income. Bill, right on about the used GC. When i was shopping for a minivan i tried to get a chrysler dealer to buy me a year old town and country for around 18.5 plus 1000. They're close to 30k new! Bill, what do you think about that clown who offered me 10.5 for my 95 Z28 and then backed out. Have you seen that happen in any of the stores you've worked at?
#60 of 38945 blackcurrant by im_brentwood Jul 16, 2000 (2:38 am)
Well, Yeah, the only way to buy one of those is to go used. They lose close to 40% Their first year! Remember, unless there's promotional financing going on, almost all banks give 1-yr old used the same rates as new cars. So.. maybe for peace of mine ya have to spend $900 or whatever on an ext warranty (Im prolly high there) you should still be at least $5,000 ahead of the game! That's like a Free Rolex! As far as the Camaro goes.. Who knows? I've never run into that myself, but it's very possible that what happened was that the UC Manager or GSM/GM decided that he didnt really want it that bad! What I'd do is to find a store that deals in cars like that... it shouldnt be too hard to sell! Personally, I have nobody local to you who could use it, (Or anyone I deal with for that matter) but I'd try using eBay to sell it. do it at $11,500 No Reserve no nothing.. but then you do have to deal with retail buyers... Selling wholesale is just sooo much easier! Bill

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