car trade in value

[mrags]

My most recent auto purchase went like this...

 

chevy was having one of their yearly $10k off sticker on Silverado’s. In the end I knew I wanted the F150 but because of the deal of the Chevy I decided to settle. Even knew the salesperson personally there. Ended up getting a trade in value on my Mercedes which was just enough to cover what I still owed on it, $3300. Even though KBB private sale was listed at $6k (can’t remember what trade in value was, but it was over 3300). I was pissed. Even my own hook up couldn’t get me anymore for my trade in. I walked out. 

 

The next day I went to the Ford dealership. Found the F150 I wanted and started negotiating, the entire time talking about how I could get a brand new Chevy for $10k off sticker. I talked them down a little on the sale of the F150, managed to get 2 new tires and 4 new brakes and an alignment out of the deal with it. After I negotiated the final price and monthly payments I started mentioning that the Chevy was cheaper. Then I told them just for chits and giggles I wanted them to price out the trade in on my Mercedes that I previously said I wanted to keep for a summer cruiser. I flat out lied to them. Told them the Chevy dealership offered me $6k. They barely looked it and offered me $6k.

 

I told them I needed to think about everything. They told me to take the truck home for the day. Make sure it fit in the garage. Take the wife for a ride (which I did). Along my ride I actually wasn’t sure. In the end it was the most I had ever paid for a vehicle before and I was terrified of the monthly payment at the time. So I decided against it. When I took her back to the dealership I told them I wanted to but I just couldn’t pull the trigger. They “just found someone” that would give me $7k for my trade in all the sudden. 

 

I left that day without the truck. Took me about 3 days and I changed my mind and called back to make a deposit over the phone. 

 

Anyway, long story I know. But should give you some ideas. In the end, you’ve got nothing to lose. Lie. Tell them someone else already offered you “X”. Worst they can do is tell you no. 

 

Good luck and have fun. 

Edited March 14, 2018 by mrags

[KD in CA]

Remember that you pay sales tax on the net of trade in, so there is some residual value beyond just what the dealer will pay.

 

But yeah, you can easily do better selling it yourself. 

[Alaska Darin]

7 hours ago, plenzmd1 said:

 

see, everyone gets a deal, some even spectacular! Again, I am not being snarky, but it just amazes me how the car industry has somehow convinced us that 100% of cars purchased are "awesome deals". I know I never bought a car unless it was a great deal.

It was spectacular because it was a no-haggle, fair deal and took almost no time.   

 

Cars today are remarkably cheap given how safe and reliable they are.   They're much cheaper in absolute dollars than they were when I was growing up. 

[teef]

2 hours ago, Alaska Darin said:

It was spectacular because it was a no-haggle, fair deal and took almost no time.   

 

Cars today are remarkably cheap given how safe and reliable they are.   They're much cheaper in absolute dollars than they were when I was growing up. 

this is typically what i aim for.  i realize the dealer has to make a profit, yet i don't want to over spend.  i choose a few cars in want to key in on, (i'm now down to 2), i have a number that i'm willing to pay, and now i just have to see if everything falls in place.  if i get the model with the options that i want, in the price range that i've set for myself, i'm happy.

 

i'm not so sure about the cheap part though.  i'm looking at suvs, and i think the prices have sky rocketed over the last couple of years.  

[plenzmd1]

2 hours ago, Alaska Darin said:

It was spectacular because it was a no-haggle, fair deal and took almost no time.   

 

Cars today are remarkably cheap given how safe and reliable they are.   They're much cheaper in absolute dollars than they were when I was growing up. 

I know, and that's exactly what I mean..somehow the car industry has made what should be the standard experience and made us all think it is spectacular and above average. Makes sense as we are all on this board and that is what the Bills have done to us well

[Steptide]

11 hours ago, plenzmd1 said:

again, my point is only that an entire industry has somehow convinced 100% of their customers that they are getting a better deal than the average Joe. I am sure they teach case studies on this B school, it amazes me.

 

I challenge anyone to name even one person they know who says they did not a good a good to a great deal on a car...its amazing

I see what you're saying. I've definitely purchased cars where I don't think it was a great deal. Even at the time I felt I was over paying a bit, but sometimes you just want the car and and give in 

[Buffalo_Gal]

11 hours ago, plenzmd1 said:

 

see, everyone gets a deal, some even spectacular! Again, I am not being snarky, but it just amazes me how the car industry has somehow convinced us that 100% of cars purchased are "awesome deals". I know I never bought a car unless it was a great deal.

Really? Because a few posts before yours I flat out said I paid sticker for my vehicle. Not a "great deal" by any definition. But, it is what I had to do to purchase the car (there just are not that many available).  People order cars all the time too, and they do not get deep discounts or deals.

Why it may seem like "everyone" gets a great deal is because that is who gives advice - people who got a great/good deal. No one needs advice on how to pay full price for a vehicle, but advice on how to get the best price is always welcome. And, those are the types of posts you read/conversations you engage in.

[plenzmd1]

42 minutes ago, Buffalo_Gal said:

Really? Because a few posts before yours I flat out said I paid sticker for my vehicle. Not a "great deal" by any definition. But, it is what I had to do to purchase the car (there just are not that many available).  People order cars all the time too, and they do not get deep discounts or deals.

Why it may seem like "everyone" gets a great deal is because that is who gives advice - people who got a great/good deal. No one needs advice on how to pay full price for a vehicle, but advice on how to get the best price is always welcome. And, those are the types of posts you read/conversations you engage in.

 

Agreed, and you also stated the car was worth more than what you paid the minute you drove off the lot...the very definition of a great deal, when most people say car goes DOWN by 10% the minute you drive off the lot. deal.Paying what you could have sold the car for would have been a good deal, paying what the car was worth plus a profit for the dealer would be a "standard deal" no? 

 

I don't think I am making my observation well here, and that's my fault.

 

It's not that the car industry is "fooling" us, or that we are all lemmings. It is that somehow they have made the experience so god awful, and price cars in such a convoluted manner, and all the other crap they throw at you like processing fees, weatherization etc...that somehow we all still come out of there feeling like we did good! It has just constantly amazed me.

 

BTW, my father owned an import car dealership 50's through the 70's, and then sold cars for dealers through the mid 90's. And while many things have remained the same in that business, many many things have obviously changed dramatically.

 

(edit) not that anyone cares, but just for poops and giggles I googled Lenz Automobiles Niagara Falls, and seems my old man made case law when he sued VW for breach of an oral contract..ha, 1954, and Pops had a VW dealership , along with other imports, based on a handshake! 

 

https://casetext.com/case/lenz-v-world-wide-automobiles-corp

Edited March 14, 2018 by plenzmd1

[SoTier]

Teef, use KBB.com to get a price on your current car.  Then use KBB or TrueCar to price out your new car ... including the options you absolutely need to have, those you'd like to have, and those you don't care much.  All the pricing sites are zip code specific, so that will give you a ball park figure about the cost of the new car and what you're likely to get for your old car in your area.  The difference in prices will be what you pay out of pocket, and is a good measure of what kind of deal you're getting from each dealer.

 

Two points to remember:

• since you are buying a new car, keep in mind that you can always walk away if you don't like the deal;
• a good service department is worth paying a few extra dollars for, especially if you buy one of the many new models with maintenance included.

Happy car hunting.

Edited March 14, 2018 by SoTier

[707BillsFan]

23 hours ago, Buffalo_Gal said:

Look into the Kelly Blue Book Instant Cash Offer program.  My husband used it to get the best trade-in value on his truck last fall. Not all dealerships in the program understand exactly how the program works - it is a no-risk proposition for them as KBB will take the vehicle for the trade-in price listed and sell it at auction or, if the dealership can get more selling it off their lot than the KBB trade-in value, they have that option.

He ended up buying his new truck in PA when the locals (who participated in the KBB ICO program) didn't quite get this. He called all around, and let several dealerships (he was not married to a particular new truck, he had three choices from different brands in mind) do the hunting for him, along with the trade-in value, cash back incentives, etc he got an excellent trade-in, plus a low price on his new truck.

 

When we bought our new car last year, our "trade in" had some bogus accidents and a mysterious salvage note on the CarFax report. Needless to say they didn't want it and we had to clear up all the bogus reports (which was no problem). I was going to sell it to a friend for $8k, when he backed out I took it to CarMax. They offered me two prices, the KBB cash offer which was extremely low and their own offer which was $8500. I knew I could have sold the car for more, but I too didn't want to deal w/ the BS of trying to sell it. I took the CarMax offer. Easiest vehicle transaction I've ever done. 

[PolishDave]

20 hours ago, plenzmd1 said:

See, its like I said, everyone thinks they get a good deal buying a car., including me!.

 

it's a true skill these guys have, we hate the process, but we all rationalize it was worth it, cause after all" I got a great deal".  Genius these guys!

 

Amazing car dealers stay in business when we all cut such great deals

 

It is also human nature that most people hate to willingly admit they didn't get a good deal.

 

There were studies conducted to prove this.    

 

When a person finally makes a purchase decision, whether it was truly a good decision or not, they try to rationalize that it was a good decision and look for mental evidence that it was that they can use to make themselves feel okay for having made that choice.

 

A typical person would have to feel really, really screwed to admit they didn't get a good deal.    When these people are admitting they got a good deal, deep down they are admitting that it was an acceptable deal - not necessarily a good deal.

15 hours ago, Helpmenow said:

Who can afford regular car payments

 

The vast majority of America makes car payments.   If you have a system for not doing so, you sir, are among a small minority of economically savvy people. 

[Helpmenow]

Car payments like  $500-600 a month for 72-84 months is in nuts

[707BillsFan]

I hate the car buying process. I went in w/ every intention of buying a new SUV once I no longer needed my Nissan Armada. After driving several smaller SUV's and a Subaru, I narrowed the choice between two vehicles...a Nissan Murano and a Subaru Outback. Nissan never would deal honestly. I don't think I ever got a price from them. One cool thing about Subaru, I found a dedicated website where people posted the prices they paid and for what model, etc...and what dealerships they got the best prices from. Two dealerships in the South Bay Area were offering prices WELLLLLLLL below dealer prices. Nobody would touch them, I emailed every dealer in Northern California. I went to my car buyer here, so I wouldn't have to deal w/ a dealer to find me the same price. He could not, in fact he didn't believe me I found those prices...and he buys cars every day for people. I texted my local dealer and he was willing to come w/in $500 of those great prices. I dove in, so I wouldn't have to drive the hour + to deal w/ strangers. Subaru was extremely easy to deal with. I don't know about anywhere else, but it seems like Subies are dang near every other car out here. They don't care, the cars will sell themselves.

 

My advice, find a website (not your car buying websites), but a dedicated site to a certain vehicle like this... http://www.subaruoutback.org/forums/138-gen-5-2015-present/158858-msrp-invoice-purchase-price-thread.html is extremely helpful. I knew what to ask for and what cars were going for at many dealerships. 

[teef]

5 hours ago, SoTier said:

Teef, use KBB.com to get a price on your current car.  Then use KBB or TrueCar to price out your new car ... including the options you absolutely need to have, those you'd like to have, and those you don't care much.  All the pricing sites are zip code specific, so that will give you a ball park figure about the cost of the new car and what you're likely to get for your old car in your area.  The difference in prices will be what you pay out of pocket, and is a good measure of what kind of deal you're getting from each dealer.

 

Two points to remember:

• since you are buying a new car, keep in mind that you can always walk away if you don't like the deal;
• a good service department is worth paying a few extra dollars for, especially if you buy one of the many new models with maintenance included.

Happy car hunting.

i think you nailed it here sotier.  i'm using the kbb/truecar sites to get the numbers.  two of the dealers have emailed me vins so i can do specific searches, (which i haven't done yet, so not sure if it will help).

 

i have a pretty good idea of what i'm willing to pay for 2-3 different cars.  you're 100% correct on having to be ready to walk away from a deal.  i'm not married to a specific car this time around, so that should be too hard.  i totally agree about the service dept as well.  two of our local car dealers were taken over by a buffalo dealer, and their service has been outstanding ever since.  i'll always pay a bit more for the service.  

2 hours ago, Helpmenow said:

Car payments like  $500-600 a month for 72-84 months is in nuts

that's way too long.  i'll take any financing that's below 2%, and usually try to pay cars off in 3 years.  i'll take a 5 year loan, and pay extra towards the principal with each payment.

[Alaska Darin]

On 3/14/2018 at 7:07 AM, teef said:

this is typically what i aim for.  i realize the dealer has to make a profit, yet i don't want to over spend.  i choose a few cars in want to key in on, (i'm now down to 2), i have a number that i'm willing to pay, and now i just have to see if everything falls in place.  if i get the model with the options that i want, in the price range that i've set for myself, i'm happy.

 

i'm not so sure about the cheap part though.  i'm looking at suvs, and i think the prices have sky rocketed over the last couple of years.  

SUVs kind of depend.  One of the reasons they've "skyrocketed" is the CAFE standards and how that's evolved.  Companies are forced to put more technology and shorten model life spans to meet ridiculous government wish lists.  I suspect supply and demand play a part as well. 

 

If you want an SUV, there is definitely a timing element to get the best deal.  If you're buying out of necessity, you're probably not going to get a great deal on a popular model/trim.

[teef]

47 minutes ago, Alaska Darin said:

SUVs kind of depend.  One of the reasons they've "skyrocketed" is the CAFE standards and how that's evolved.  Companies are forced to put more technology and shorten model life spans to meet ridiculous government wish lists.  I suspect supply and demand play a part as well. 

 

If you want an SUV, there is definitely a timing element to get the best deal.  If you're buying out of necessity, you're probably not going to get a great deal on a popular model/trim.

the level of tech in the cars is through the roof.  it's to the point where i would expect something to go wrong.  i'm buying in the next month, so i think with my timing, i'm going to have to be ready to pony up for the style/options i want.  i've emailed a couple of dealers to let them know what i'm looking for, but they don't seem to interested until i come in an test drive first.  that will by tomorrow and saturday. 

[Gugny]

On ‎3‎/‎13‎/‎2018 at 5:07 PM, teef said:

also, do anyone find there's not a ton of wiggle room in negotiations now?  we know what the dealer paid, and their general markup, (they obviously need to make a profit).  they can work with you on trade in value, there may be incentives involved, then after that, maybe a small percentage of the price of the car can be negotiated.  i've been to a couple of dealers in the past who say that's all they'll give.  that being said, i've gotten large factory incentives just by luck in the past.  one was 8 grand off the sticker price, just to get the car off the lot. 

 

Here's what I did and it worked out VERY well for me.

 

• I identified the EXACT car I wanted.  It was a previous year model, still brand new.
• I went to Autotrader.com and searched a 200 mile radius for that exact year, make and model.
• I found the cheapest one - it was about 2.5 hours from where I live.
• I then looked at local dealerships for the same year, make and model.
• I got online and engaged their Internet salesperson (turns out she was hot), asked if the car was still available and it was.  It was about $2000 more than the cheapest one I'd found.
• I copy/pasted a link to the cheapest car and sent it to the salesperson.
• I said .. if you can beat this price, I'll be there later this afternoon to buy it.  I'm not above driving a few hours to save money.
• She came back 20 minutes later and said, "we'll beat it," and gave me the number which was about $1500 less than the other "cheapest," car.
• Went in ... no negotiations necessary ... sat down, signed everything and picked the car up the next day.

 

Because it was a previous year model, they had incentives up the wazoo at their disposal.

 

The Sales Manager came up to me and thanked me for my business.  He said, "I don't like to be beat."

 

Those guys are all torn from the same cloth.

 

Good luck!

[ExiledInIllinois]

On 3/13/2018 at 2:52 PM, Misterbluesky said:

How old are your kids now? Maybe put it into storage...be a kick ass birthday gift when the oldest hits 16.That's what we did for our nug.

Yep... Always think ahead.  I am a vehicle hoarder.   Got four that drive. I will start trading in when I am past the family members that drive to vehicle ratio.

 

Give your children some cool rides too!  Get vehicles that hold their value as best as they can.  Watch the trends and be ahead.  Watch where things are going mechanically.  I really don't consider myself a motohead... But I fix vehicles myself when they get old.  Right now in the Jeep-BMW/MINI-Toyota axis.  Quite an eclectic mix for quite an eclectic family! 

 

Pass them down.  Maintain them impeccably. That's why I bought a 2006 Jeep TJ... Last of the cast iron-block dinosaurs in 2006.  My son now drives it when he is home from school... Takes the twin power turbo Cooper S over the road to school... 35 mpg beats 15 with Jeep and  the TJ is a "brick" going down road.  Safety in newer vehicles.  Jeep is easy to fix... It's a "Lego Vehicle."  Every 10 years since the CJs the model changes... Parts are plentiful and cheap, don't see them in junk yards.  Great local vehicle, winter, etc... The new JKs are exhibiting the same classic design attributes and 2018 is a redesign.

 

Crap... I think I paid 22k brand new for Jeep and it it still holding in teens 12 years later. But I knew I was buying last of the last.  I wish I would have bought a CJ in 1986... If taken care of, hold their value somewhat.  See what an old Toyota FJ40 brings?  If you can find one not rusted to shreds.

 

Son can then have the 2017 Tacoma too in a few years if he needs a truck. Crap if he gets hitched, I may even pass down the wife's BMW... Get her a new one.

 

Millennials (actually, he was born in 1998... Probably post-Millennial) will have it great. 

 

Got a "stable" of 4 vehicles... Always have one that's a manual. 4 drivers in family.  All need to know how to drive stick.  Now my daughter is 15 and has her Learner's Permit she needs to get behind the F56 MINI when son is home... Pass that on to to her eventually.  Great having that car, most other kids don't how to drive... No risk they let their friends drive! 

 

That's the crazy EiL plan!!!! 

[teef]

1 hour ago, Gugny said:

 

Here's what I did and it worked out VERY well for me.

 

• I identified the EXACT car I wanted.  It was a previous year model, still brand new.
• I went to Autotrader.com and searched a 200 mile radius for that exact year, make and model.
• I found the cheapest one - it was about 2.5 hours from where I live.
• I then looked at local dealerships for the same year, make and model.
• I got online and engaged their Internet salesperson (turns out she was hot), asked if the car was still available and it was.  It was about $2000 more than the cheapest one I'd found.
• I copy/pasted a link to the cheapest car and sent it to the salesperson.
• I said .. if you can beat this price, I'll be there later this afternoon to buy it.  I'm not above driving a few hours to save money.
• She came back 20 minutes later and said, "we'll beat it," and gave me the number which was about $1500 less than the other "cheapest," car.
• Went in ... no negotiations necessary ... sat down, signed everything and picked the car up the next day.

 

Because it was a previous year model, they had incentives up the wazoo at their disposal.

 

The Sales Manager came up to me and thanked me for my business.  He said, "I don't like to be beat."

 

Those guys are all torn from the same cloth.

 

Good luck!

it was totally my move the buy the "previous" year model that hasn't been driven yet.  they can't wait to get them off the lot, and will usually give a big incentive.  when i've looked at the dealers so far, they really don't seem to have any 2017s.  i'll do a larger look, but since i'm going to have this year for the next 8 years or so, i'm likely going with a 2018.  part of the problem is that i'm still between 3-4 cars.  it's really down to two, but once i'm done the test drives, i have to make a decision so i can start doing a wide net search.  i'll drive a couple of hours too to get a good deal.  my last car i had to go to penn yan, (an hour and 15 away) and did all negotiations online.  well worth it.  after this weekend i should have a pretty good idea where i stand.

[ExiledInIllinois]

22 hours ago, Helpmenow said:

Car payments like  $500-600 a month for 72-84 months is in nuts

It's all perspective.

 

Not if one is making 20k a month.

 

What's a grand here or there for transportation.