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Message
Trade in vs private sale
Posted on 8/7/16 at 5:04 pm
Posted on 8/7/16 at 5:04 pm
All based on kbb +-
My vehicle is worth 18k private sale
15k trade in value
First question is will a dealer actually give me close to the trade in value?
New vehicle lets say is 38k
Trade in based on the list above will actually save me more in taxes than if I sold it out right.
Second question is. When should I tell the dealer in trading in my vehicle?
My vehicle is worth 18k private sale
15k trade in value
First question is will a dealer actually give me close to the trade in value?
New vehicle lets say is 38k
Trade in based on the list above will actually save me more in taxes than if I sold it out right.
Second question is. When should I tell the dealer in trading in my vehicle?
5
Posted on 8/7/16 at 5:16 pm to Crawdaddy
For 2nd question I don't think they care why. They will appraise and put a cash value on the car. If you want a no haggle cash offer for your quote run it in to Carmax and use that as a tool with dealers to make sure you get your money worth.
However, Carmax doesn't always love trucks and some American card. Their offer is typically really strong on desirable cars. For instance, A Malibu doesn't fetch great offers
However, Carmax doesn't always love trucks and some American card. Their offer is typically really strong on desirable cars. For instance, A Malibu doesn't fetch great offers
This post was edited on 8/7/16 at 5:16 pm
Posted on 8/7/16 at 5:42 pm to Crawdaddy
quote:
Trade in based on the list above will actually save me more in taxes than if I sold it out right.
You sure, if they gave you the 15k @ 10% sales tax , you would save 1500 and there is a 3000 diffrence between trade in and private sale
Depending on the vehicle I would not expect to get either of those values, as someone else said bring it to car ax and see what you get offered and that will be pretty close to what the dealership offers for a trade
It is a lot easier to trade it in vs selling yourself so you have to factor that in , a d I would not tell them you are even considering a trade in until you have a firm negotiated price on the new vehicle
Posted on 8/7/16 at 5:46 pm to Tigerpaw123
Thanks.
Posted on 8/7/16 at 5:50 pm to Crawdaddy
If you negotiate right at the right dealer you will get NADA trade- I know a few dealers that still use KBB
used car lots like to use Black book as their values are lower
Tough dealers constantly watch the auction price
The real key is how old is your vehicle, miles and condition-
IF a dealer thinks he can put it on his lot and sell it in 45 days he will give you NADA trade- if not he will walk back the price
used car lots like to use Black book as their values are lower
Tough dealers constantly watch the auction price
The real key is how old is your vehicle, miles and condition-
IF a dealer thinks he can put it on his lot and sell it in 45 days he will give you NADA trade- if not he will walk back the price
Posted on 8/7/16 at 7:26 pm to 756
Carmax is high end of trade in/cash purchase value as they have the ability to ship to multiple states/multiple markets to get the $ out of it (they do not haggle, so they are going to sell retail value). But kbb & nada are range/estimates for your vehicle, as they do not buy vehicles, obviously. Now I work for a huge dealer, I can tell you that most people that trade in had their vehicle on the market for weeks and some months, realized that majority of private buyers want to nearly pay trade in value for vehicle, as I have not heard of any recent customers get kbb private party condition for vehicle. So most people trade for that reason (they get tax credit & they are the buyer, not the seller, thus have more power). GL
Posted on 8/7/16 at 7:40 pm to CoachRobertson
Car Max will absolutely rip you off and lowball your quote. Wife had a '08 Charger R/T w/Nav, racing seats, power everything, 20" Chrome Rims, Z-Rated Tired, 308hp and sport tuned suspension. Just loaded out.
They offered her $6500. I watched the dude input the base model information, said something to him, and then watched him fail to input a VIN which would pull up the specs for her car. I then saw him pull the front page off the offer sheet which had all the base model info he made the lowball offer on.
I called him out on it, went to the trash can and fished out what I watched him throw away, and he denied till he died. I loud capped him in front of everyone and told all the folks talking with sales reps to check their paperwork and showed what he threw away and why.
Walked out and had a Kia dealer give me just under triple that aholes offer on a trade on a new Oprima.
Screw CarMax...
They offered her $6500. I watched the dude input the base model information, said something to him, and then watched him fail to input a VIN which would pull up the specs for her car. I then saw him pull the front page off the offer sheet which had all the base model info he made the lowball offer on.
I called him out on it, went to the trash can and fished out what I watched him throw away, and he denied till he died. I loud capped him in front of everyone and told all the folks talking with sales reps to check their paperwork and showed what he threw away and why.
Walked out and had a Kia dealer give me just under triple that aholes offer on a trade on a new Oprima.
Screw CarMax...
This post was edited on 8/9/16 at 5:59 am
Posted on 8/7/16 at 7:45 pm to GFunk
Inthink I can get more selling out right. That's a given. Kbb is just a starting point.
Just didn't know how bad the dealers try to low ball a trade in.
But if I can get decent trade in on my vehicle, it may be worth it.
Just didn't know how bad the dealers try to low ball a trade in.
But if I can get decent trade in on my vehicle, it may be worth it.
Posted on 8/7/16 at 9:31 pm to GFunk
Carmax has given me incredible offers on my foreign cars and trash offers on American. Your race car Charger aligns with my opinion.
Posted on 8/8/16 at 9:19 am to gobuxgo5
I sold my wife's murano about 6 months ago. I would say generally kbb and what not for private sales are higher than you're going to get.
If you price a private sale correctly, it's pretty easy and quick. Most people including me price too high like $500-1000 above the KBB recommended value hoping to get it, so you get few calls and mostly tire kickers. If you price it just below recommended private sale value you'll often sell it in days to one of the first people to look.
If you price a private sale correctly, it's pretty easy and quick. Most people including me price too high like $500-1000 above the KBB recommended value hoping to get it, so you get few calls and mostly tire kickers. If you price it just below recommended private sale value you'll often sell it in days to one of the first people to look.
Posted on 8/8/16 at 9:30 am to gobuxgo5
quote:
Carmax has given me incredible offers on my foreign cars
I drove a friend to Carmax a few months ago, and the buyer there was all but begging me to sell my Suabru Outback to them. I didn't want to let him get all the info to write up an offer because I love the car so much. He was saying they can't keep used Outbacks in good condition on the lot.
Posted on 8/8/16 at 9:31 am to Crawdaddy
most dealers will try to offer you rough condition trade in value. Doesn't really matter what condition your vehicle is actually in.
Posted on 8/8/16 at 9:40 am to Clint Torres
quote:
I would say generally kbb and what not for private sales are higher than you're going to get.
Of course. No one pays retail for any vehicle, so why should they in a private sell? All bias aside...KBB is probably the worst tool out there to use. I saw a comment earlier that said some dealers use KBB...thats scary!!
If you want "close to real world" numbers; my opinion is NADA seems to be the closest.
Coach Robertson, KBB does indeed buy cars now. The funny thing is, the amount they claim your car is worth, and the money value they offer you for it, is WAY off. Go figure?
Find out the loan value of your vehicle. If they offer you 80% of that value, its only one of maybe three guys in the state.
This post was edited on 8/8/16 at 9:43 am
Posted on 8/8/16 at 10:46 am to gobuxgo5
quote:
gobuxgo5
quote:
Carmax has given me incredible offers on my foreign cars and trash offers on American. Your race car Charger aligns with my opinion.
So how have the offers been when they knowingly entered incorrect information, refused to correct it when you watched them do it, and then actively tried to deceive you by throwing the information that would prove what they did away and force you to retrieve it and call them out on it...all while they continued to deny they did what they did?
I'm guessing they may have been low. Just me spitballing here though but can you confirm?
(That last part was sarcasm FYI)
This post was edited on 8/8/16 at 10:49 am
Posted on 8/8/16 at 10:49 am to GFunk
Somewhere near the zero range. Regardless my point was they have strong offers deepening on the car. I am just saying its a "tool" to have a cash offer quite in your hand for negotiating power. Does that make sense?
Posted on 8/8/16 at 5:41 pm to Crawdaddy
Do the private sale...ask the dealer to do a "courtesy trade". You get the price of the private sale with the tax savings of the trade in. Thank me later.
Posted on 8/8/16 at 11:39 pm to ram03reg
In Arkansas, if you private sell your old car within 60 (?) days of buying a new car, you can file for a sales tax credit that puts you on the same footing as if you had traded in.
We need that law. Our law gives the dealers a big advantage for no reason.
We'll never get it because our shitty legislators get too much $$$ from car dealers, and they don't give a damn about consumers.
We need that law. Our law gives the dealers a big advantage for no reason.
We'll never get it because our shitty legislators get too much $$$ from car dealers, and they don't give a damn about consumers.
Posted on 8/9/16 at 8:04 am to ram03reg
quote:
Do the private sale...ask the dealer to do a "courtesy trade".
This is an option but what a POS hassle move for me to do to my buyer. I would not step foot in a dealership if I was buying a used vehicle from someone. To get all that lined up as well, everything has to fall in place just right.
Better have my new vehicle agreed upon and have a buyer for my vehicle ready all at same time.
It's a good idea but if I was a buy of a used vehicle I would not want to step into the dealership.
Posted on 8/9/16 at 12:55 pm to Crawdaddy
quote:
This is an option but what a POS hassle move for me to do to my buyer. I would not step foot in a dealership if I was buying a used vehicle from someone. To get all that lined up as well, everything has to fall in place just right. Better have my new vehicle agreed upon and have a buyer for my vehicle ready all at same time. It's a good idea but if I was a buy of a used vehicle I would not want to step into the dealership.
I have done this with both vehicles I have sold. Buyers didn't mind going to the dealership. For a few thousand dollars, I think it is worth a try.
Edit: For the last vehicle (Toyota of Slidell) I agreed on the price of the new car and had it contingent on the sale of my previous vehicle....I had the buyer already lined up, but just in case they backed out. I was not even there when they bought my old car. Worked out great.
This post was edited on 8/9/16 at 1:04 pm
Posted on 8/9/16 at 7:32 pm to ram03reg
I'll throw it out there and try. Worth a shot.
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