I'd like one, but dealerships have other things on their mind.
11-13-2010, 06:56 PM
#21
They always low ball you.. terribly no matter the car. When I went shopping for a 2009 mustang, they wanted to give me $800 trade in for my Toyota Corolla. I sold it for $3k private. With still having a lien on your car, you are kinda stuck between a rock and a hard place.
11-13-2010, 09:02 PM
#23
S197 Section Modder-ator
Join Date: Sep 2007
Location: Orlando FL
Posts: 13,373
11-13-2010, 09:54 PM
#24
2nd Gear Member
Join Date: Jun 2009
Location: Crestview, Florida
Posts: 334
Just sell it privately...it might be more of a pain in the butt but wouldn't an extra $4k+ plus be worth it? I did that with a Scion TC I had a few years ago and made $2700 more selling it privately than I would have if I would have traded it in at the stealership.
11-14-2010, 07:09 AM
#25
2nd Gear Member
Join Date: Jul 2010
Location: Delaware
Posts: 193
My trans is complete junk and will be replaced in the spring with a five speed.
11-14-2010, 08:05 AM
#26
2nd Gear Member
Join Date: Oct 2009
Location: Virginia
Posts: 214
Try carmax and see what they offer you. Hell with that warranty and the car in good condition I would give you $24k for it if you were local and we knew each other. Used car market may have dried up in the past 12 months since I bought my 2010 mustang and maybe they are lowballing everyone these days. If that is the case then I will be delaying my audi purchase until my pig is almost paid off. I only owe $9700 on it anyway. I won't take less than $17500 in trade for it. I don't want a new car that bad that I am willing to take it in the pooper from the dealer for $10k of profit in his pocket. They give you $15k for it and then try to sell it to someone else for $24k. I don't think so.
11-14-2010, 07:47 PM
#28
1st Gear Member
Join Date: Jun 2008
Location: Midwest
Posts: 125
One of the issues involving the vehicle trade-in pricing is whether on not the dealer has a desire to keep the vehicle and resell it through his used car department.
If he is keeping it for dealership resale, he has to consider reconditioning costs, "pac" (which is usually a fixed amount to pay for vehicle expenses such as advertising, inventory upkeep and sometimes commissions) and any other expenses. They typically look at what the want to retail the vehicle for on the lot, then subtract all of these expenses PLUS a profit amount to arrive at the trade-in offer to the owner.
The dealer MAY NOT want your trade-in on his lot. In this case you can take your Black Book or KBB calcuations and throw them out the window. This vehicle will be inspected for resale and then loaded onto a carrier on it's way to the auction. A dealer/used car manager will look at what your trade-in is selling for at the auction and whether the vehicle is "hot" (desireable) or "cold" (not desireable). Whatever the vehicle is selling for on at the auction is where he will start his calculations. from here, once again, he will deduct his expenses, desired profit and transportation costs. It is here where the trade-in offer will be presented to the potential customer.
If the market is flooded with a certain vehicle, this will drive down the trade-in value alone...
If you think your vehicle is worth what some publication says, then from there subtract the likeable costs that you could incur and see where and why the price offered for your trade is less than what you calculate.
Dealers also look at the profit margins with both cars. Many want top-dollar for their trade and then want to buy the new car near or at invoice..a dealer who has to pay premium dollar for a trade-in and sell a new car near cost is usually not excited. Another factor is that the 5.0 Mustangs are hot and dealers know that this is occuring for a short period of time (supply and demand). These vehicles can be sold at a premium because of their scarcity and the human factors that weaken the buyer (First guy at work or on his block with a new 5.0 Mustang, etc).
Respectfully. if you want premium trade-in dollars, you need to do all the work yourself.....ask anyone else to do it for you (unless it's a good friend) and expect to pay expenses to them in the form of a deflated trade-in amount.
If he is keeping it for dealership resale, he has to consider reconditioning costs, "pac" (which is usually a fixed amount to pay for vehicle expenses such as advertising, inventory upkeep and sometimes commissions) and any other expenses. They typically look at what the want to retail the vehicle for on the lot, then subtract all of these expenses PLUS a profit amount to arrive at the trade-in offer to the owner.
The dealer MAY NOT want your trade-in on his lot. In this case you can take your Black Book or KBB calcuations and throw them out the window. This vehicle will be inspected for resale and then loaded onto a carrier on it's way to the auction. A dealer/used car manager will look at what your trade-in is selling for at the auction and whether the vehicle is "hot" (desireable) or "cold" (not desireable). Whatever the vehicle is selling for on at the auction is where he will start his calculations. from here, once again, he will deduct his expenses, desired profit and transportation costs. It is here where the trade-in offer will be presented to the potential customer.
If the market is flooded with a certain vehicle, this will drive down the trade-in value alone...
If you think your vehicle is worth what some publication says, then from there subtract the likeable costs that you could incur and see where and why the price offered for your trade is less than what you calculate.
Dealers also look at the profit margins with both cars. Many want top-dollar for their trade and then want to buy the new car near or at invoice..a dealer who has to pay premium dollar for a trade-in and sell a new car near cost is usually not excited. Another factor is that the 5.0 Mustangs are hot and dealers know that this is occuring for a short period of time (supply and demand). These vehicles can be sold at a premium because of their scarcity and the human factors that weaken the buyer (First guy at work or on his block with a new 5.0 Mustang, etc).
Respectfully. if you want premium trade-in dollars, you need to do all the work yourself.....ask anyone else to do it for you (unless it's a good friend) and expect to pay expenses to them in the form of a deflated trade-in amount.
Last edited by nicksfoursix; 11-14-2010 at 07:50 PM.
11-14-2010, 09:25 PM
#29
2nd Gear Member
Join Date: Aug 2010
Location: CA
Posts: 224
Go on the very last day of the month to a dealer that has the car you want.
That's the best possible deal day. They'll chase your *** outta the dealership once you start talking about buying. Follow you all the way to the car with thousand dollar checks and offers of floormats.
That's the best possible deal day. They'll chase your *** outta the dealership once you start talking about buying. Follow you all the way to the car with thousand dollar checks and offers of floormats.
11-15-2010, 03:54 AM
#30
6th Gear Member
Join Date: Apr 2005
Location: West Los Angeles
Posts: 5,390
Trade-in is the biggest sucker play on the planet. They will automatically take off about $4,000 from the low blue book price on cars in that price range. That's how they make their money.
You saw how few new 5.0 Mustangs they had, right? They will hold onto them and sell to the first fool who can't wait to buy another car that he or she will never pay off.
Relax, pay off the loan and buy the 5.0 next year when the 2012's come out.
You saw how few new 5.0 Mustangs they had, right? They will hold onto them and sell to the first fool who can't wait to buy another car that he or she will never pay off.
Relax, pay off the loan and buy the 5.0 next year when the 2012's come out.