What is the real deal with trade ins? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

PatsRS · 02-21-2015, 07:15 PM

I have bought a lot of new cars and traded in a lot as well. But it seems that whole trade in concept is a big fix. I was looking trade my DD and my Camaro for a new car. I had a GM top off, loyalty cash and great credit. My 45th AE has 9900 miles on it and spends Winters in the garage under a cover (part of the reason I am selling

). Clean condition inside and out. I went 3 different dealers before and they even looked at the car they told me $18K (WTF!). This was after all of the online appraisal sites gave me a low of #20.7K to a high of $22.5K? The last dealer I went to told me that there is some website service they go to that they input the car and it gives them a number they can buy the car for. Does anyone have any knowledge of this game? Because the appraisal sites are on all of the dealers websites.
Has anyone had similar experiences? I know I will get more selling it on my own but that is time consuming and not favorable here in the Northeast right now.

Ernest T · 02-21-2015, 07:23 PM

Understand they make money off both ends of the deal and the biggest chunk is off the trade. They have a black book with wholesale prices and blue book with retail prices, and the spread is their profit. Look around the dealership--they make a lot of money. They also have people coming to sell, buy, or trade all the time. If they don't make a deal with you, they'll do a deal with the next guy.

I try to never have a trade.

Angrybird 12 · 02-21-2015, 07:24 PM

They will usually low ball you so they have negotiating room. Keep pushing and they will come up usually.
Its amazing how many people don't know what their car is really worth and accept the first thing the dealer says. They can potentially make more money reselling your old car than they do on the new car.
If you traded that car for $18K I bet you would check their sale price and it would be at least $24K

snarky · 02-21-2015, 07:26 PM

dealer is not in business to lose money. your car is three & 1/2 years old. they won't give you anymore than it would bring at auction unless you pay more for your new car.

Homeless Man · 02-21-2015, 07:26 PM

Why don't you just sell it privately?

PatsRS · 02-21-2015, 07:34 PM

I get they are there to make money. That is a given. The thing is, I am looking to trade my DD too which has high mileage. I got an offer of 18K and 8K. I was looking for 29K total best they would come up to was 28. They let me walk too. That was strange.
I tried selling on Cars.com last year I got one low ball price I was asking 24 or 25. I got one offer really low.

Angrybird 12 · 02-21-2015, 07:36 PM

Quote:

Originally Posted by Homeless Man

Why don't you just sell it privately?

Private sales can have their own issues.... Lots of dishonest individuals out there scamming people out of their cars.
Plus in many states you only pay sales tax on the difference between the trade and selling price, if you sell privately you have to make sure you ask enough to make up for that loss.

31B · 02-21-2015, 07:55 PM

I always get my trade-in independently appraised. It is always higher than what the dealer trade-in is and have never had problems with them matching it.

Ace0751 · 02-21-2015, 08:05 PM

Each dealer is different some will work with what you want for a trade and others will just low ball you and follow the book word for word. When I traded my first car in I wanted a certain amount and would not lower. When I was looking at the 14 V6 they would only give me $2500 for my trade and I knew it was at least $5500. So I walked, went to another dealership that a friend referred me to and gave me what I was looking for and when I was watching the car I traded in they still made a decent profit selling it for $7500. Just need to shop around a bit if your looking to get that amount then stick with it but 28k is close enough to what your asking for trade ins.

backeddy · 02-21-2015, 08:21 PM

Quote:

I was looking for 29K total best they would come up to was 28. They let me walk too

They let my wife walk on a set of FLOOR MATS! ......Curious, did you have financing locked(or cash) in before you got there? Because they want to make $$$ on the spread there too. Like one of the others said, they do not need you, they will wait for the next guy....

PatsRS · 02-21-2015, 08:50 PM

Quote:

Originally Posted by backeddy

They let my wife walk on a set of FLOOR MATS! ......Curious, did you have financing locked(or cash) in before you got there? Because they want to make $$$ on the spread there too. Like one of the others said, they do not need you, they will wait for the next guy....

That is crazy. I even told them I wanted the Tire and Wheel warranty! No I did not have financing locked in.

TX/ZL1 · 02-21-2015, 09:21 PM

Take it to Carmax and be done with it. You'll get a fair price and leave with a check

AF1Strider · 02-21-2015, 09:30 PM

You will get better trade in value when the weather warms up and people are searching for a sports car. On a side note where in NW NJ are you? I'm originally from Hackettstown.

Flashpoint135 · 02-21-2015, 09:31 PM

Trading two cars in on one is not something most dealers are interested in at all. I did it once a long time ago, but only found one dealer that was interested and only because he really wanted my Z28 (and he had to take the other car too to get it). What are you buying? If you are buying something really expensive then you'd have a better chance, but if you are just looking at a 2 for 1 trade on a 30 thousand something car then the number is about what I'd expect.

I'm not saying it is right or reasonable, but it seems about normal.

02-21-2015, 07:15 PM	#1
PatsRS Drives: 2012 45th Anniversary Edition Join Date: Aug 2010 Location: North West NJ Posts: 890 View My Garage	What is the real deal with trade ins? I have bought a lot of new cars and traded in a lot as well. But it seems that whole trade in concept is a big fix. I was looking trade my DD and my Camaro for a new car. I had a GM top off, loyalty cash and great credit. My 45th AE has 9900 miles on it and spends Winters in the garage under a cover (part of the reason I am selling ). Clean condition inside and out. I went 3 different dealers before and they even looked at the car they told me $18K (WTF!). This was after all of the online appraisal sites gave me a low of #20.7K to a high of $22.5K? The last dealer I went to told me that there is some website service they go to that they input the car and it gives them a number they can buy the car for. Does anyone have any knowledge of this game? Because the appraisal sites are on all of the dealers websites. Has anyone had similar experiences? I know I will get more selling it on my own but that is time consuming and not favorable here in the Northeast right now. __________________ 2012 45th Anniversary Edition 2LT Auto with Sunroof 2014 Acadia Denali 2012 Chevy Cruze RS GM ALL THE WAY!

02-21-2015, 07:24 PM	#3
Angrybird 12 7 year Cancer Survivor! Drives: 17 Cruze RS, 07 G6 GT, 99 Astro Join Date: Dec 2007 Location: East Tennessee Posts: 21,547	They will usually low ball you so they have negotiating room. Keep pushing and they will come up usually. Its amazing how many people don't know what their car is really worth and accept the first thing the dealer says. They can potentially make more money reselling your old car than they do on the new car. If you traded that car for $18K I bet you would check their sale price and it would be at least $24K __________________ Cancer's a bitch! Enjoy life while you can! LIVE, LOVE, DRIVE... The Bird is the word!

02-21-2015, 07:26 PM	#5
Homeless Man Homeless Life Chose Me Drives: LS3 (sold 4/21) Join Date: Nov 2014 Location: Streets of Philly Posts: 3,650	Why don't you just sell it privately? __________________ Pity a man in familiar places, who yet feels like a stranger.

02-21-2015, 07:34 PM	#6
PatsRS Drives: 2012 45th Anniversary Edition Join Date: Aug 2010 Location: North West NJ Posts: 890 View My Garage	I get they are there to make money. That is a given. The thing is, I am looking to trade my DD too which has high mileage. I got an offer of 18K and 8K. I was looking for 29K total best they would come up to was 28. They let me walk too. That was strange. I tried selling on Cars.com last year I got one low ball price I was asking 24 or 25. I got one offer really low. __________________ 2012 45th Anniversary Edition 2LT Auto with Sunroof 2014 Acadia Denali 2012 Chevy Cruze RS GM ALL THE WAY!

02-21-2015, 08:05 PM	#9
Ace0751 GEN5 Detail Drives: 2011 Synergy Series 2SS Convertible Join Date: Sep 2014 Location: Northeast, OH Posts: 1,986	Each dealer is different some will work with what you want for a trade and others will just low ball you and follow the book word for word. When I traded my first car in I wanted a certain amount and would not lower. When I was looking at the 14 V6 they would only give me $2500 for my trade and I knew it was at least $5500. So I walked, went to another dealership that a friend referred me to and gave me what I was looking for and when I was watching the car I traded in they still made a decent profit selling it for $7500. Just need to shop around a bit if your looking to get that amount then stick with it but 28k is close enough to what your asking for trade ins. __________________ Roto-Fab CAI, Borla ATAK Exhaust System, Stainless Power Headers, RX Performance Catch Can, ACS T4 Splitter, Oracle side markers, Dyno Tuned by RDP Motorsports

02-21-2015, 07:23 PM	#2
Ernest T Drives: 2014 RS Join Date: Jun 2014 Location: Salado TX Posts: 320 View My Garage	Understand they make money off both ends of the deal and the biggest chunk is off the trade. They have a black book with wholesale prices and blue book with retail prices, and the spread is their profit. Look around the dealership--they make a lot of money. They also have people coming to sell, buy, or trade all the time. If they don't make a deal with you, they'll do a deal with the next guy. I try to never have a trade.

02-21-2015, 07:26 PM	#4
snarky ultracrepidarianism Drives: '14 1SS/RS/1LE/NPP '18 Accord Sport Join Date: Mar 2014 Location: where folks drive like shit Posts: 1,297	dealer is not in business to lose money. your car is three & 1/2 years old. they won't give you anymore than it would bring at auction unless you pay more for your new car.

02-21-2015, 07:55 PM	#8
31B Drives: 2014 Black 1SS A6 Join Date: Jun 2013 Location: Cameron, NC Posts: 659	I always get my trade-in independently appraised. It is always higher than what the dealer trade-in is and have never had problems with them matching it.

02-21-2015, 09:21 PM	#12
TX/ZL1 Drives: '14 ZL1 RRM M6 Join Date: Aug 2014 Location: Texas Posts: 471	Take it to Carmax and be done with it. You'll get a fair price and leave with a check __________________ ADM ZL 750 PACKAGE...697RWHP/680RWTQ

02-21-2015, 09:30 PM	#13
AF1Strider Drives: 2011 Camaro 1SS/RS Join Date: Jan 2007 Location: Navarre, FL Posts: 496 View My Garage	You will get better trade in value when the weather warms up and people are searching for a sports car. On a side note where in NW NJ are you? I'm originally from Hackettstown.

02-21-2015, 09:31 PM	#14
Flashpoint135 Drives: 2016 SS Join Date: Jun 2011 Location: Newark, NY Posts: 1,283	Trading two cars in on one is not something most dealers are interested in at all. I did it once a long time ago, but only found one dealer that was interested and only because he really wanted my Z28 (and he had to take the other car too to get it). What are you buying? If you are buying something really expensive then you'd have a better chance, but if you are just looking at a 2 for 1 trade on a 30 thousand something car then the number is about what I'd expect. I'm not saying it is right or reasonable, but it seems about normal. __________________