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Car Buying/Trade In Process
Posted on 8/15/13 at 10:36 pm
Posted on 8/15/13 at 10:36 pm
So I have a 4 Door Jeep Wrangler. Bought it from a family member who babied it...only has 26,000 miles on it. Had it for 6 months or so...but 14 MPG is getting old fast.
I've been toying around with trading it in for a recent model Honda Accord. Went to the dealership this evening and left sort of ticked off...
NADA says it's worth $21,750...guy offered me $17,000. Then worked up to $18,500. I told him I'd have to get fair value trade and he told me it wasn't going to happen.
Is he being a typical used car jerk, or am I going to have trouble with this trade in?
I've been toying around with trading it in for a recent model Honda Accord. Went to the dealership this evening and left sort of ticked off...
NADA says it's worth $21,750...guy offered me $17,000. Then worked up to $18,500. I told him I'd have to get fair value trade and he told me it wasn't going to happen.
Is he being a typical used car jerk, or am I going to have trouble with this trade in?
This post was edited on 8/15/13 at 10:37 pm
8
Posted on 8/15/13 at 11:07 pm to Kreg Jennings
quote:
NADA says it's worth $21,750...guy offered me $17,000. Then worked up to $18,500. I told him I'd have to get fair value trade and he told me it wasn't going to happen.
So you want retail value and want the dealership to make no profit? That's more than absurd
Posted on 8/15/13 at 11:12 pm to Kreg Jennings
I would sell it private party. My dad does that and sometimes even makes more than FMV
Posted on 8/15/13 at 11:13 pm to Kreg Jennings
You need to start with KBB trade in value not NADA. Or, you know, be intrepid and sell it yourself.
ETA: you left out a lot of pertinent details that you included in your duplicate OT thread, like the fact that you owe $20k on it. You should definitely sell it yourself and have the buyer meet you at the bank who holds the note to complete the sale. Lots of dumbass kids with daddy's money will overpay for a Wrangler - even one with the shitty engine.
ETA: you left out a lot of pertinent details that you included in your duplicate OT thread, like the fact that you owe $20k on it. You should definitely sell it yourself and have the buyer meet you at the bank who holds the note to complete the sale. Lots of dumbass kids with daddy's money will overpay for a Wrangler - even one with the shitty engine.
This post was edited on 8/15/13 at 11:23 pm
Posted on 8/16/13 at 7:56 am to BACONisMEATcandy
quote:
So you want retail value and want the dealership to make no profit? That's more than absurd
That's the trade in value, private party value is $25K.
Posted on 8/16/13 at 8:09 am to Kreg Jennings
The dealership is trying to make money man. Lol.
Sell it yourself. You never trade in a vehicle to get a lot of money or current value of car.
Sell it yourself. You never trade in a vehicle to get a lot of money or current value of car.
Posted on 8/16/13 at 8:42 am to Kreg Jennings
The book may say it's worth 25k retail, but that seems pretty high, you have to think of the market. The 2014's hit the market in a couple weeks, making this one 8 years old. A new one can be bought for around 35k. I know it's very low miles and may be showroom condition, but nobody is going to pay that when one 8 years newer can be bought for 10k more, especially with the new engine and interior upgrades. jmho.
Posted on 8/16/13 at 9:08 am to GrantTheFan
You can always try a place like CarMax and see what they will buy it for. An appraisal takes about 30 minutes and they will write you a check on the spot if you decide to sell.
Posted on 8/16/13 at 10:28 am to Kreg Jennings
Are you local? I ask only because the Honda dealerships seemed to fight me quite a bit on my trade as well.
Private party is your best option for getting the most value. You can also do the paperwork at the dealership of choice to take advantage of the tax savings. It's called a "fast trade" or "paper trade". You basically trade car to dealer, get tax savings, and buyer buys car from you through the dealer. They pay full taxes, but if they need financing, they likely would anyway. Can also take advantage of dealerships used car financing.
It's best to work trade and new car deal independently. However, if you've blown that opportunity, don't let them get you on both. Work both deals equally as hard. I also had the option to sell my car privately between agreeing to purchase the Accord, and receiving it.
Private party is your best option for getting the most value. You can also do the paperwork at the dealership of choice to take advantage of the tax savings. It's called a "fast trade" or "paper trade". You basically trade car to dealer, get tax savings, and buyer buys car from you through the dealer. They pay full taxes, but if they need financing, they likely would anyway. Can also take advantage of dealerships used car financing.
It's best to work trade and new car deal independently. However, if you've blown that opportunity, don't let them get you on both. Work both deals equally as hard. I also had the option to sell my car privately between agreeing to purchase the Accord, and receiving it.
Posted on 8/16/13 at 10:59 am to LSUtigerME
Im here at Moss Honda in Lafayette...was there any damage over 500.00 reported to insurance??
What are you looking to get into?
What are you looking to get into?
Posted on 8/17/13 at 12:49 am to Coach Guidry
quote:
typical used car jerk
You Gon Get Rapeded
Posted on 8/17/13 at 12:13 pm to Kreg Jennings
actually dealers do not use NADA or KBB they use Black Book which is true wholesale and they watch the weekly auction prices- these numbers are somewhat less that KBB, NADA or Edmonds-
NADA is used by banks for loan purposes-
NADA is used by banks for loan purposes-
Posted on 8/17/13 at 2:05 pm to Kreg Jennings
start by taking the 'mileage' bump off on NADA.. no dealer is going to pay you for that
Posted on 8/19/13 at 10:51 am to BobDobalina
Yeah, you can't use NADA or KBB values. Try Edmunds or someone that's a dealer to get you the "Black Book" value.
Carmax has actually become a standard pricing tool for many people and I see most dealerships advertising that they will meet Carmax's price or beat it by a few hundred.
Carmax has actually become a standard pricing tool for many people and I see most dealerships advertising that they will meet Carmax's price or beat it by a few hundred.
Posted on 8/19/13 at 5:07 pm to Kreg Jennings
quote:
4 Door Jeep Wrangler
I think these resale well on the private market. I would definitely try to sell it yourself. I've always looked at selling my old car and purchasing my next car as two separate transactions. I've never seen where trading in would be to my benefit.
Posted on 8/25/13 at 7:15 pm to seawolf06
im in the market for a benz or audi for my wife, who currently owns a 08 c class. the salesman at both audi and mercedes told us we are better off selling our car to carmax than trading it in to their respective dealerships.
Posted on 8/25/13 at 8:28 pm to BobDobalina
quote:
start by taking the 'mileage' bump off on NADA.. no dealer is going to pay you for that
Yep, "low mileage" isn't worth what it used to be. In fact, sometimes it hurts resale.
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