What is the real deal with trade ins?

[el ess A]

Originally Posted by PatsRS

I think they set you up with and unrealistic expectation.

And that's the hook they want you to sink your teeth into... It works most of the time. This is why "deal is only good for today" things work in the dealer's favor. They don't want you to think about it or compare numbers, as they might be found out. LOL Be patient and don't settle. After all, you're the one paying for it. Unless it's a COPO or other rare model, keep shopping to get the deal YOU are happy with.

[PatsRS]

Great advice and insight guys! I knew I could gain a lot of perspective here!
Damn Impala doesn't have forums like this!!!

[Red2014SS]

Originally Posted by PatsRS

And the dealers overhead is my problem now?

Yes, it actually is your problem if you walk into a dealer expecting to get the same money out of your trade as you can get in a private sale. Generally, you will always get less on a trade than you could on a private sale. The dealer's overhead is the reason, but you are also paying for convenience.

When you trade a car, you don't have to pay for advertising. You don't have to spend time showing it to prospective buyers. You don't have to take any risk of it being wrecked in a test drive. You don't have to worry about being sued if the engine explodes two weeks later. You don't have to run around transferring the title, and paying off any liens.

When you trade, all of these things are assumed by the dealer. You have to pay for this by accepting less money for your trade. It's just business. It's how things work.

[jd10013]

Originally Posted by PatsRS

And the dealers overhead is my problem now?

of course it's not. just as it's not their problem that you want X amount for your car.

[VACamaro]

with rare exception, I drive every car I buy until it is worth nothing to anyone, including me ... $200 to the junk yard to come pick it up

[VOLmanTN]

My opinion. KBB/NADA will not be accurate on your vehicle. They are estimates based on sourcing information from dealers and what they paid for cars.

You have a one off car.....like a 02 camaro anniversary with low miles. You just can't go by a book.

Carmax is a good place to start for a real offer just to sell. Also, you aren't doing yourself any favors by selling in the winter. Prices at auctions are down on sports cars so dealers are using information based on what they are selling for currently.

A car that unique with low mileage, just put it on ebay/autotrader and take the best offer. You'll get in the 20's.

[Jovialman]

Many people already noted the different ways the dealerships make money. Another one not mentioned is the backdeal money made off of financing, considering the money such as increasing the interest paid in order to recoup even more money off your deal whether or not you get a good offer. Of course this is only if you finance from their banks. If you are not too pressured to sell, you should sell it privately in the coming months as spring and summer is coming up. Good luck!

[PatsRS]

Update - I relisted the car on Saturday with Cars.com and got an email last night from a guy. I asked 22 he offered 19 with out looking at the car other than pics. HE said he had cash and didn't have time to go around looking for cars all the time. I think he is some kind of reseller. He didn't seem to have a personal interest in the car. There was no "Camaro passion" in his voice.

[two_wheel_mayhem]

Originally Posted by PatsRS

Update - I relisted the car on Saturday with Cars.com and got an email last night from a guy. I asked 22 he offered 19 with out looking at the car other than pics. HE said he had cash and didn't have time to go around looking for cars all the time. I think he is some kind of reseller. He didn't seem to have a personal interest in the car. There was no "Camaro passion" in his voice.

You'll get a lot of that. If you won't take 19 there's no need to waste your time on him. He will want you to bring the car to him, then probably try to beat you down some more.

[FilibustaRhymes]

Originally Posted by TX/ZL1

Take it to Carmax and be done with it. You'll get a fair price and leave with a check

Yup...I bought my SS at a Chevy dealer that was lowballing me heavy on my tradein, a Nissan Frontier pickup. They ended up matching CarMax's appraisal, which was like 3k higher than what they were trying to give me.

[Evergreen6]

Trading a car is all about convenience, and that comes at a price. The dealer assumes all the risk and their strategy is to buy low and sell high, so it's not surprising the OP is getting lowball offers on trade.

It's a negotiation.

[SSGUNNER]

Carmax is a good idea to check and see how much they offer.

[The_Blur]

Originally Posted by SSGUNNER

Carmax is a good idea to check and see how much they offer.

I'm not so sure. Their entire business is used cars, which generally high a higher profit margin than new cars. With no other way to make money, they have to do well on the used side. Think about it. They've got a national network of dealerships because people actually believe they're getting s good deal with that "no hassle" nonsense. Once a salesman has you trusting him, he can run up a profit all day.