trade in value

Kbb.com

 

Offered $17k from CarMax last week. Prius Two with 17K. In Florida.

 

Check out this NADA report on it

http://www.nada.com/B2B/Portals/0/assets/NADA%20Perspective/2014/201406%20Hybrid%20Car%20Market%20Review.pdf

 

I was offered 15,000 from car fax when my car was 6 months old and had less than 20k they then would resell it for 22k.

Trade in value is pretty much useless, your trade in value is how much you let a dealer screw you. Then if their isn't enough profit in it for them they don't want your car. Several dealers around me send me letters offering me 18 grand minus 35cents per mile, so their trade in price is -9,300 for my car. So they are mailing me a letter to offer to take my car off my hands if I pay them over 9 grand... Maybe they will be nice and roll that into a new loan.

 

Trade in value is, like you said, pretty much useless. Depends on the car you are buying and how much money they are making on it. I think the bottom line is that every time you trade you better figure on getting screwed. A car dealer will not do business with you unless they screw you. That is my opinion.

 

OMG, I thought I got a great deal when I traded our Gen II with 79K in on our new Gen III Model 3. Car had 79K on the clock, all maintenance in order, new ICE water pump and belt, all recalls done, good LRR tires on her basically ready to put on the front row. Got 11.5K trade in on the new one. MSRP was 29,8xx on the sticker. After rebates and negotations, the final price out the door with TT&L was 25.8 K. Financed the balance through TFS with a zero % interest rate and my payments are only for 36 months at 326.

So did I get screwed?

Ron

 

Unfortunately? Probably more true than untrue. At least as far as trade in goes. I think IF you plan to trade in a vehicle, it's obviously important to know the value, and then try to "minimize" the screwing.

I've "instantly" made thousands of dollars in a trade in, by simply saying "No" and getting up to walk away at the usually inevitably low ball first offers. But how they can suddenly "magically" offer me so much more? Tells me of course they always could, and knew they could, they were just hoping I didn't know or care and would accept the horrible first offer.

Yes, trade in is always a losing proposition in terms of direct value and return. But I look at it often as paying for the convenience. How much is NOT having to sell it private party, with all the risk and mechanization's of going through that process worth to you? Pick a number that quantifies that value to you...and subtract it from the actual value of the vehicle. Then hold out for a number at least close to that when you trade in.

 

You know, maybe I look at a deal differently from most people. First of all, I think a good deal is in the eyes of the beholder. If you think you got a good deal then just have no regrets. I just traded my 2011 Prius Two with 48,000 miles in on a 2014 Avalon Hybrid XLE Touring, $22,500 difference out the door. I think I did pretty well but who knows. I'm well satisfied with it. I just figure anytime a person trades cars they kind of get the shaft but I'm not worried about it one way or the other. We like our cars so what the hey.

 

Excellent reasoning. I agree with you.

 

I posted my Carmax offer because I felt it should be a decent estimate of wholesale. My Prius was my wife's. She passed away in March and I've decided it's time to sell.

 

When I traded, I went in knowing what the car was worth. I negotiated until they gave me what I wanted which still allowed them to sell the car and make a profit. It saved me time and hassle trying to find a buyer and also locating a new Prius at the same time. I had been looking at them for the last 1 and 1/2 years. For a change, I did find a salesman who wanted to deal, and did not mind negotiating. I am sure that buying at the end of the month, and also the end of the quarter did help me also. Like other's have said above, what really matters is how you feel at the end of the day. Could I have done better? Probably, but it would have entailed me selling the old Prius outright and then hoping to find one like what I did for the price I paid. I did buy a 2013, versus a 2014. But it came nicely equipped with everything I wanted. They even threw in a set of wheel locks after the deal had been done. I have also looked at the Avalon Hybrid. Very nice car, but one problem. Back seats wont fold down. I need that because I do haul stuff in the Prius from time to time. Peace everyone.

Ron

 

We all have our very important reasons why we do things. I am almost 77. I wanted one more luxury car before they plant me so I bought a 2014 Avalon Hybrid XLE Touring so my bony rear will have some degree of comfort while I take a couple of short trips. Not too much to ask for.

 

trade in is the simplest way, but not the most profitable. you have to get the deal done on the new car first, then get the trade value. you'll never know for sure, but if they are around book value for you area, you can't complain. if you need every last dollar, then you have to sell privately and deal with the aggravation.

 

to the o/p's question: compare to what?

 

And the aggravation of selling it privately is something that is out of this world. I sold one. Never again. For example, one or two people came to look at a car I had for sale and they just loved the car. The problem? THEY DID NOT HAVE ANY MONEY. I'll just take less and trade it in and let the dealer sell it. I'm no car salesman.

 

me too. when i was younger, poorer and didn't realize the value of time, i bought and sold cars on a regular basis. that changed almost 30 years ago.

 

I hear you loud and clear on the comfort level of the Avalon. I too am getting up there in the years. Not as old as you, but getting there fast. And I do agree that the Avalon is a lot more comfortable than the Prius. If only those back seats would fold down...

I did drive a new 2014 Avalon a month ago. Got to put about 30 miles on it. Both highway and city streets. The salesman was a real nice guy. The car had set so long the 12 volt was dead. They had to start it with the jump pack. When we got back, I shut it down. 12 volt was still dead... Pretty obvious that not many had looked at this car. Very nice car, leather and everything. Even had the sunroof that opened up both from the front and the back. Heated seats, and the fancy JBL sound system. Full electric 6 way seat for the driver with two position memory on the seat. Not sure of the model, but it looked like it was top of the line. The sticker was around $39K if I recall correctly.

Ron

 

I think maybe the back seats fold down in a non-hybrid Avalon but not the hybrid version because of the hybrid battery. I have the hybrid version. I like it. Very comfortable. This will probably be my last car. I wanted a luxury car and the Avalon was the right choice for me.

 

Definitely a luxury car for sure. IMO it ranks right up there with the Lexus, and the quality thereof! I would be proud to own one. If I would not have sold my truck, I would be driving that Avalon I test drove last month today. It too was a hybrid.

Ron