posted 01-26-2004 06:18 PM                  

First I’m presenting actual trade in values. Typically when you go to trade in, the salesman will try and gauge which you are more interested in, low price for new or high price for trade in. They are more than willing to give you whatever discount they can off the new price and count it on your trade in if that’s where your interest lie. To them, it doesn’t matter as it’s the same money. That’s why on more expensive cars you can get better trade ins at times. They have more of a discount to give.

So for me, I always go in under the same pretense. I figure I’m most likely going to sell my vehicle on my own regardless of if I’ve leased, financed or own it. I’ve done all three. So I tell the salesman that and ask for trade in value and sale value. They know I could come back and just do the purchase and they want to be competitive with others. So they accurately separate the amounts. And I found that the purchase prices was pretty much the same across the board. Not sharing that. Three months ago the RX-8 was selling for a premium (some Kat owners will remember that expereiecnce!). Two months ago they were selling for MSRP and now a month later they are selling for invoice. I’m somewhere in the middle.

Now on to my most recent experience trading my cat. It was a Mulholland with 10K miles on it. Not listing mods. My opinion is dealers don’t really care about mods. I lifted most anyway. Most dealer won’t care about limited edition paint jobs like the Woodward or Black Tie either for trade in. I figured if I found the right buyer I could get between 31.5K – 30K depending on how long I wanted to wait if I sold it on my own. The first two dealers offered me 22K and 24K. Needless to say, I was very irritated as I always am when I go to trade in. I decided I was keeping it until spring and selling on my own for those prices.

Then a third dealer called me back. They had gotten a buy bid from a lot in Texas that they dealt with for their unusually cars (I believe they used the word exotic ) They offered me 29.5K. I was floored. I couldn’t believe they had come up that high. That was a 34% difference from my low number! I decided that it was close enough to my selling price that I would part with it. Not that I was in a hurry, but the deal was too close to what I though would be the best I would get.

So for anyone looking to trade their car, sorry, but, prepare to be disappointed in general. But if you really want to trade it, find a way to work with a dealer that will get it to a market where the prices are better than most. By the way, the dealer I purchase my Mazda from was CRAIG & LANDRETH MAZDA in Clarkesville, IN. I wouldn’t hesitate to look them up to find out who the lot was down in Texas and try to work them into your plans. As for my old kat, I’m pretty sure they kept it as opposed to sending it down, but I haven’t had the stomach to check!

As I said in the opening, I’m sure there are lots of opinions on this, so flame away. I just think I gained way too much knowledge from this site to withhold information that might help others.

Since I'm posting about Prowlers again, I'm using my sig.
Hope no one minds.

posted 01-26-2004 06:29 PM                  

Every time I sell a car, my wife gets the crazy notion in her head that we should just trade it in. Then we go through the motion of seeing what they will give us, only to have my wife offended by the ridiculously low offer. I go through it just to humor her.

posted 01-26-2004 11:13 PM                  

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posted 01-27-2004 07:33 AM                    

quote:

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Originally posted by DR PROWLER:
Bill,I agree with your opinion totally.
I totally believe that dealers for the most part are afraid to put a realistic number on any trade they may not be too familiar with.They fear of not being able to wholesale it out and even worse being in stock for a long time collecting interest every day it sits.
Most people when trading high end or exotic cars will resort to selling them privately instead.
I'm glad it worked out in your case!

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Don't kid yourself. They know the value of anything that comes through the doors and if they don't they make about 10 calls and find out. It's all about dollars and sense and these guys aren't in business to take a guess on a car and find out later it's worth alot less.

As far as wholesaling, that deal is worked out before you sign the car away. Usually they have something like 10 to 15 days to get the car to the wholesaler (paperwork) so they try and sell it themselves during that period. If no serious takers, the car goes as planned. If they sell it, then they make more. In this short a period, the car really is never even floorplanned (sold before first interest payment due).

I doubt seriously if they keep the car for months THEN call a wholesaler.

posted 01-27-2004 05:22 PM                    

quote:

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Originally posted by superdoppler:
I was offered 25k for my 01 Mulholland with 22k miles as a trade in from a dealer, but I passed. I don't think it was an awful deal, but it didn't seem to be enough to really get rid of the car.

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posted 01-28-2004 07:31 PM                  

quote:

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Originally posted by Black Tie 161:
..just goes to prove: If you want the best price, you have to sell privately...even though it's a hassle. the dealers know that, and that's why they get away with lowball offers.

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I agree. The dealers know how hard it is for someone to sell to a private owner but i try to sell that way as much as possible. Haven't had much of a problem with buyers in the last ten years or so. It's not that hard to do depending on the car.