Trading in a Used Car

[mylife]

I'm visiting a couple dealerships tomorrow in hopes of trading down. Most people think I'm crazy for doing so but I could use the money and don't need a nice car.

So, the trade-in value on my car according to NADA is $19,825. I have aftermarket wheels which originally cost $3800 w/ tires but they're no longer in the greatest shape. The interior is perfect, exterior will need a buff job but no major damage.

The car I want to buy is $8,500.

Do dealers usually offer fair market value? I have a feeling I'm gonna go in and they'll say, "We'll give you 16k for your car and knock 500 bucks off the car you're purchasing." What are some good negotiation tips when dealing with these vultures? I fear the used car salesman. It's their job to hustle!

Ideally I'm hoping to get $18,500 for my car. Should I tell them this straight up or feel them out?

 

[HumorMe]

Sell your car and then buy something less expensive. Only way to get a decently fair deal.

 

[Razorguns]

NADA Trade-In value means dick. Forget about that.

Dealers will offer what they wish will offer them enough of an incentive to take it off your hands, polish it up, re-sell it themselves or to someone else .. and still make a profit.

The "give me more for my car" or "lower the price of the other car" argument is silly. Either way, you pay more or less. So forget about that argument.

Best option is concentrate on each one SEPARATELY. Negotiate the price of the car you want. Low as possible. Lock down that price.

THEN throw in the "i have a car i want to trade in". Since the price of the other car is locked in -- you can negotiate this. They probably won't budge much, cuz they figure in both costs for them -- but at least you avoid getting tricked via fancy math.

That way if they offer say $14k for your car -- you know

(1) the lowest price of the other car (which you negotiated)

(2) you have option to sell your car yourself at a higher price (say $18k)

With that in hand, you can make a better decision. For example: Tell 'em to keep that price you negotiated for that car faithful for a week, while you look into selling your car. Sell it at $18k and you came back ahead (instead of trading it in at say 16k which is what people, usually anxious, wind up doing).

 

[Lestat]

dealers will offer 5-10K LESS then what they think they will get out of it.

 

[mylife]

You guys are right, to hell with a trade-in. I guess the best thing to do is have the flaws fixed, get it detailed, and list it on autotrader; essentialy becoming the dealer. It might take a month or so to sell but it's guarenteed an extra 2-3k. Yay?

 

[pitbullstl]

Sell your car and then buy something less expensive. Only way to get a decently fair deal.

Word....

 

[Spartacus]

lol at "fancy math"

 

[patsfan1379]

if the car's title is not in your hands you will have a tough time selling it privately

 

[CENTURION44]

take off your aftermarket wheels they wont add to the trade in price....sell them on ebay or local..youll get most of your money back...what kind of wheels are they??? try and sell your car privately..but keep in mind that you will save money by trading on the tax...

 

[SoKlueles]

Yeah i agree with Humor Me
Its best to sell it outright to someone else before you get another car....cuz dealers screw you over, some how or other and you STIll have a car payment even if the car is 10k less than what your car is worth