Trade in Value?

[Joseph1LE]

Also looking to trade my Camaro in on a truck. Local Dodge dealership offered 24k at first, I walked away and the next day they called me offering 26k. Still on the fence about that one.

Two local Chevy dealers to my surprise and despair offered a whopping 21k and 23k... I'd expect most offers to be in the 22-25k range. I did not at all expect to be this much upside down on this car at this point. Quite disappointing how bad the depreciation has been. If I could get 28-29k that'd be fantastic but I don't see it as even being a possibility based on the offers I've gotten so far. What's upsetting is that I'm still seeing used well optioned 14-15 1LEs going for 30-34k depending on mileage so to offer 22k is just flat out ridicuclous IMO considering the profit they turn around and try to make off it. May give the Dodge dealer a call and try to push for 27k...

Trying to sell privately seems to be a crapshoot as well as I'm seeing tons of them for sale in the classifieds here and in other places too with little to no interest in them.

[Thor142]

SO glad I leased.....

[bub]

The only hidden cost benefit of trading is the savings in sales tax (at least here in KS) which is almost 10% now!

I always weight trade +10% vs. what I think I can sell it myself thru Craigslist or AutoTrader outright for.

[rickr9504]

Originally Posted by Midnight Rat

I was offered 27000 for a 2013 1le 6500 miles with recaros. I would say yours is low.

Recaros on a 2013? expensive upgrade. nice.

[GONIF]

It is now a 3 year old car ,and not the current new body style .The dealer knows what a 1LE is by the vin# , and the dealer needs to make a profit to stay in Biz. It is worth what it sells for at the time . A BMW or Benz drops like a rock in the first couple of years also . How would you like to buy a 2014 Bentley continental GT speed and pay 250000.00 + tax and registration and it is now worth less than 125000.00? If you want resale value buy a Subaru ,Honda, or Toyota. The 1LE is the biggest bang for the buck sports car there is .You had your fun and fun ain't free, cheap thrills ain't so cheap anymore . Mass produced Sports cars are not a a great short term investment . Best bet is sell it here on the 5th gen forum to someone who wants a cream puff low mileage 5th gen 1LE.

[joeymjustice]

I would like to buy one for 25k.

[Midnight Rat]

Yeah it was but so well worth it, and a lot cheaper than trading at the time for a 2014.

Originally Posted by rickr9504

Recaros on a 2013? expensive upgrade. nice.

[DBHWT]

IMHO, No one w/Recaros should trade a car in with them installed, when you get 2-3K on the used market

[X25]

Originally Posted by DBHWT

IMHO, No one w/Recaros should trade a car in with them installed, when you get 2-3K on the used market

Makes sense. I did trade in my car for 28K in late May '16, and sold almost all the mods except the visual ones dealers saw during appraisal (Z/28 wheels and the aero).

I also sold the Recaro seat I had in the process.

[atiprocharger]

Car dealers make money off of cars in 3 ways:

Sale of a car (each car is usually at least 3k or more above cost to make depending on model)

Trade ins: They low ball a trade in value and then turn around and sell it for thousands more (take a look at kbb.com and the private vs dealership sale prices)

Services: selling you warranty packages, maintenance, etc.

Shop around: there are dealers out there that give better trade in allowances. I currently buy my cars from Rick Hendtricks Chevrolet in Buford GA. They are the only dealer that I know of that beats up on lenders and really works on volume of sales. While they dont always give me what I want on my trade, they make up for it on the loan end since they have a good/aggressive relationship with a lot of lenders. So it evens out. I recently purchased a 2015 silverado 2500 with turbo diesel. It had been on the lot for a while, so that was a bonus. But I also get a suppliers discount which saved me about 4k as I remember on the price. Then they were able to get me a 1% loan even though my credit is average. The same truck at another dealer they tried to give me a loan for 13%! Shop around. The deals are out there.

[GONIF]

Originally Posted by atiprocharger

Car dealers make money off of cars in 3 ways:

Sale of a car (each car is usually at least 3k or more above cost to make depending on model)

Trade ins: They low ball a trade in value and then turn around and sell it for thousands more (take a look at kbb.com and the private vs dealership sale prices)

Services: selling you warranty packages, maintenance, etc.

Shop around: there are dealers out there that give better trade in allowances. I currently buy my cars from Rick Hendtricks Chevrolet in Buford GA. They are the only dealer that I know of that beats up on lenders and really works on volume of sales. While they dont always give me what I want on my trade, they make up for it on the loan end since they have a good/aggressive relationship with a lot of lenders. So it evens out. I recently purchased a 2015 silverado 2500 with turbo diesel. It had been on the lot for a while, so that was a bonus. But I also get a suppliers discount which saved me about 4k as I remember on the price. Then they were able to get me a 1% loan even though my credit is average. The same truck at another dealer they tried to give me a loan for 13%! Shop around. The deals are out there.

Yes dealers some times steal a trade ,but many times they pay more than its worth to get the new sale . They also will do a mini deal on a new car to keep their numbers up . it is rare they make $3000.00 on a new car , there is too much competition . Yes the real money is made in the F&I office

[lbls1]

One should figure out how long they intend to keep the car. Knowing this will save you money, as you will less likely overspend on mods, etc. That being said, you also probably would not want to keep it very long, as (of course) the older it gets the less valuable it becomes.

One post above made sense: A car spec'd out nicely or with special options like Recaros I'd think twice about trading. A car like that you'd want to keep around awhile, and also the options won't bring you much value (none) during a trade in. Options only benefit the dealer and manufacturer, in that it drives the price up on cars. It will benefit the owner if they really like the option (or if they need the option(s)), and if they keep the car indefinitely.

[backeddy]

Any questions on why I bought a used Porsche Spyder now? It was roughly the same price as a new 1LE and will probably never lose 1 penny of value.... I loved the 1LE but that $27k value after 1 year was too much to swallow again....Sorry OP, you will be lucky to get $24k anywhere, I know your pain.

[Joseph1LE]

Got another offer today at $22.5k lol. So I have 21k, 22.5k, 23k, and 26k offers. Still kicking myself for not acting faster on the 26k offer.

The depreciation of this car has been quite pathetic. I even bought mine "used" with 200 miles on it so I got a great deal at the time and am still in a bad situation now with how low the cars value is now. Really just crossing my fingers for another 26k trade offer or private buyer at this point...I never intended to sell the car this soon but things just change... Will never buy a new or close to new sports car again unless I'm wiping my ass with hundred dollar bills. Definitely learned my lesson.