When I purchase the '10, I would like to trade my '03 Corolla in. I plan on doing this within the next couple of months. I am bringing my Corolla in to the dealer on Weds. for an oil change and to also look at my AC because it is no longer working properly. One of my tires has been losing air as well so that needs to be fixed. Anyway, if there is something wrong with the AC other than a freon charge and it costs more than $500, should I not bother to fix it if I am going to trade it in soon? Would the price to fix it be more than is taken off for trade-in? And does the same go for any other things they find? Should I mention to them I plan on buying soon and want to trade-in? Or would service not care about that?
Well you'll have to see how much it cost you if it wasn't fixed. The better the condition of the car, the higher the resale value and that includes fixing stuff that's broken.
I don't know about trade-in details, but I do know you always get more $$ from selling directly to a private party. I've sold 10 cars and 8 motorcycles private party (too many really). Dealers really sock it to ya with low trade in values, but it's convenient though. You get your new car, they take the old one.
I considered trading in my last car but they really tried to low-ball me. I said I would sell it myself. I never got around to it and the car sat in the parking lot for months and then wouldn't start. Still didn't feel like dealing with it and ended up just donating it to charity. This time I don't have a parking lot or driveway. I'd have to street park two cars with alternate side parking. I hate wheeling and dealing with people, so I think I'll just deal with the trade-in. My co-worker got a really good deal on a trade-in at the dealership I am going to. However that was 6+ months ago for a Yaris and the dealerships were really hurting then. Not sure how they are doing now. However, if they won't give me a good deal for the trade-in, I will end up trying to sell it. Eeep! Anyone want a 2003 black Corolla with stick shift?
Selling private party will always get you more $$$ if you are willing to deal with the hassle. However, there is a shortage of good used cars out there right now because of higher used sales due to the economy. I just bought 2 new cars in the last month and got $500-$1k over the average KBB/Edmunds/Black Book on both trade-ins.
What I do is put it on Ebay. Sells in 7 days, you usually get something slightly lower than private party, but higher than dealer trade-in. The car I'm getting rid of for the Prius 2010 was a 2006 Mazda. Dealer offered me $6,500. Ebay sold for $10,600. No hassles.
I was able to get about $1100 over the Blue Book for a 2001 New Beetle with 51k miles in a trade on a 2008 Prius with 34k miles. Koons Toyota in Virginia really wanted to sell me that Prius as my car wasn't worth that much! Steve
another option is Car Max if there is one in your city. They will give you a quote that is good for 7 days. It is another option that could be higher than dealer trade-in but lower than a private party sale
My wife just spent $800 on the 100K mile maintenance of her 00 Honda Civic--mainly to change the belts. The car has never needed anything but normal maintenance. I tried to get her to trade it for a used Prius, but she's holding onto it.
My Dad taught me 30 years ago to never trade-in, as the stealership will not give you what the vehicle is worth. I'd fix/clean the car up and sell it privately. You'll have more money for your down payment.
