What trade in system does Chevy dealers use?

1jaaay · 03-20-2022, 09:35 PM

Out of curiosity, what trade in system does Chevy dealers use? I’ve seen the use of NADA, black book on their website but is there a definitive one?

Yang N’ Bang · 03-20-2022, 10:00 PM

The ol’ give you the lowest price possible for your trade, mark up the vehicle you’re buying as high as possible.

SATINSTEEL1LE · 03-20-2022, 11:55 PM

Most dealers will look at the Manheim dealer auctions site to see what they could "theoretically" buy the car for. And they also will call for what they call "buy figures" from other dealers. Example would be if you were trading in a dodge at a chevy dealer. The chevy store would call a local dodge store and get a buy figure, or what would the dodge dealer be willing to buy the dodge trade in from them for. This gives the dealer an out if they dont want to resell your trade or are not in the market to sell what you are trading in.

They can also use the NADA black book. There are several ways to appraise a car, but looking at the Manheim site to see what like model/mile cars are selling for is their likely way to put a number on it.

This gives them the ability to use the line "well I could buy your car from auction at blah blah blah price".

zxspeedspec · 03-21-2022, 12:26 AM

Quote:

Originally Posted by SATINSTEEL1LE

Most dealers will look at the Manheim dealer auctions site to see what they could "theoretically" buy the car for. And they also will call for what they call "buy figures" from other dealers. Example would be if you were trading in a dodge at a chevy dealer. The chevy store would call a local dodge store and get a buy figure, or what would the dodge dealer be willing to buy the dodge trade in from them for. This gives the dealer an out if they dont want to resell your trade or are not in the market to sell what you are trading in.

They can also use the NADA black book. There are several ways to appraise a car, but looking at the Manheim site to see what like model/mile cars are selling for is their likely way to put a number on it.

This gives them the ability to use the line "well I could buy your car from auction at blah blah blah price".

The best part is when I have access to Manheim and they blatantly lie to me about what "they could sell it for at auction" and I just screenshot my search result and tell them I'll give them that + $500.

LT1gen6 · 03-21-2022, 08:12 AM

How desirable is your car to the dealer in question? Do they have multiple similar models on their lot, or is yours the only one for sale in town/area? Low miles, minty condition, bone stock, with a wow factor? Is it one they want to showcase for sale on their premises? You'll get more money if the answers are "yes" to all of these.

FlukeSS · 03-21-2022, 08:21 AM

Quote:

Originally Posted by 1jaaay

Out of curiosity, what trade in system does Chevy dealers use? I’ve seen the use of NADA, black book on their website but is there a definitive one?

Black book value is what most of them use. Might be some outliers but every dealer I went to uses black book value.

FlukeSS · 03-21-2022, 08:26 AM

Quote:

Originally Posted by LT1gen6

How desirable is your car to the dealer in question?

You mean amidst the chip shortage? I'd say pretty valuable lol

L99BEN · 03-21-2022, 09:01 AM

I think it varies. Ive traded a bunch of cars over the years.
Check out the current market (cars.com, auto trader..) search/filter dealerships for a similar car/miles/condition as your trade on average and subtract about $3-4k for your estimated trade worth. You may be get less or a little more. You may need to shop around some. Some dealerships will offer way less (low-ball) than another.

KaMaRow · 03-21-2022, 09:09 AM

so Im sure this questions answer changed per dealer but I do know a few dealers I have become friends with and basically they will go with what ever "proof" they can show you of the lowest price "they can get one for" and basically offer you that. IN my area my dealer go off wholesale. What the average auction price is and what other cars like your have sold locally for in the last 30 days. you cant bullshit a dealer they can look at your cars entire sales history and the sales history of any car they want. hey know what you paid are paying and your interest rate and everything about you and your car before they even make an offer.

The ones that use truecar or say they go by Kelly blue book and al that marketing crap is all BS once you go in they will still pull up whole sale and go off that I have yet to ever see a dealer honor bluebook unless in the rare case whole sale was higher. everytime i have ever had a quote from carmax or and of those online before going in it was always higher and once i go there it of course was much lower.

Long story short i wouldn't except any dealer to offer more then what they can get them at auction for.

In had one dealer was upfront and even showed me the prices list they were working from told me the whole process and even their projected profit. All they would offer me was whole sale. They said they were gonna sell it for 7k more then they paid me and that was their profit margin. They had a business to run and employees to pay. I was super cool with it because they were upfront and no bs. with me anyway a straight up no games dealer is worth a few bucks less in my pocket then playing other dealers games.

how ever in todays market things are a bit different with cars like the ZL1 most dealers will pay over to get them some even paying more for them then they sold them for. just depends on their allocations and the customer line they have waiting for one that they can mark it up on. if they can get your car for say 85K and they know they can flip it the next 10 mins to the other 20 people on the list well.... you got room to negotiate. IN that case no price list really matters.

Gunkk · 03-21-2022, 09:18 AM

Quote:

Originally Posted by SATINSTEEL1LE

looking at the Manheim site to see what like model/mile cars are selling for is their likely way to put a number on it.

This.

Also tells them what can get for it if they have to dump it after transport & commission, which will be increasingly important once new car supply is restored and the market refills with trade-ins.

GXP08jrf · 03-21-2022, 09:42 AM

As others indicate, In addition to the auction information, dealers will need to adjust the offer up or down depending on a lot of different variables. Will they put your trade on their lot to sell or auction it? Is it a vehicle that is an easy or more difficult sell in the area where the dealer operates? Factors that determine this are the economic make-up of the dealer's neighborhood, are they urban dealer that is more interested in smaller, fuel efficient vehicles to have on their lot rather than a Pick-up that may be difficult to park? Is the trade "rare" in that there is not a lot of comparable vehicles going through auction to make a good assessment. Do they have a lot of used inventory already? Are they part of a dealer network who can afford to take more risks in the trade value and worry less about maximizing profit on your trade? Or are they a small dealer who needs to be more conservative on how much they profit from that transaction? Are you trading on a high demand vehicle or something they've been trying to move for a while? They'll play the psyche game too. If they detect you're eager to make the deal vs having a take-it/leave-it attitude they may factor this into their offer especially if you've already started paperwork or they know how you intend to pay the balance.

In the past I was looking to trade a GMC Sierra. My local dealer that I had several good dealings with previously offered me about $3000 less than what I'd expected on trade. I walked away. I called a dealer about 20 miles away that also had a vehicle I was interested in and asked for a non-binding trade estimate over the phone. They were already $500 above the minimum I wanted contingent on seeing the truck. When all was done, they had bumped their offer another $1000 and got my business for a vehicle that'd been on their lot for nearly 8 months.

A dealer's attempt is to make the most profit off you as possible, not to get you the best deal they can or give you a reasonable price based on auction. And it really depends on what they need out of the transaction to determine their benefit. This is heavily influenced by the locale in which the dealer operates and the vehicles they have to sell. I don't think it's possible to apply a simple formula to how they determine their offer from one dealer vs another.

super_sxxy322 · 03-21-2022, 10:04 AM

Manheim auctions and Galves.

TXCSSU · 03-21-2022, 10:09 AM

Dealerships use different tools. If they all used the same tool they wouldn't be able to lowball the customer as everyone would know how much to expect from their trade. You're better off using all the tools available to you and ultimately deciding how much your trade is worth to you. Just a heads up, selling it privately can be a headache so keep that in mind when trying to sell it yourself.

JSH · 03-21-2022, 11:26 AM

The old, "Buy low, sell high" method

03-20-2022, 09:35 PM	#1
1jaaay Drives: 2019 Camaro 2SS 1LE Join Date: Dec 2021 Location: Detroit Posts: 23	What trade in system does Chevy dealers use? Out of curiosity, what trade in system does Chevy dealers use? I’ve seen the use of NADA, black book on their website but is there a definitive one? __________________ 2019 Camaro 2SS 1LE M6 Satin Steel Metallic Instagram: @nightfury1le

03-21-2022, 09:01 AM	#8
L99BEN Drives: 2023 BMW M4 Competition Join Date: Dec 2012 Location: USA Posts: 657	I think it varies. Ive traded a bunch of cars over the years. Check out the current market (cars.com, auto trader..) search/filter dealerships for a similar car/miles/condition as your trade on average and subtract about $3-4k for your estimated trade worth. You may be get less or a little more. You may need to shop around some. Some dealerships will offer way less (low-ball) than another. __________________ 2023 BMW M4 Competition (daily) 2022 ZLE M6 (weekend toy) 2022 BMW X3m40i Past: 2022 Tesla S Plaid 2020 Shelby GT500 sold 2019 Hellcat Redeye-traded for new GT500 2019 ZL1 A10 - sold (meh) 2019 Tesla M3P 2016 Hellcat Challenger - A8 sold but never forgotten 2016 Camaro 2SS M6 2014 Mustang GT A6 2012 Mustang GT M6 "brembo" 3.73/FBO 2012 Camaro SS L99 (Wife's)- slow

03-21-2022, 10:04 AM	#12
super_sxxy322 Drives: '22 Camaro 2SS/1LE Join Date: Nov 2021 Location: North Jersey Posts: 161	Manheim auctions and Galves. __________________ '22 2SS/1LE, M6, Wild Cherry Tintcoat, PDR, Sunroof 11/1 - order submitted to GM - 12/26 - order accepted by GM 1/7 - TPW 1/24 1/13 - TPW 1/31 2/9 - 3800 - BUILT! 3/2 - 4300 3/14 - 4B00 3/19 - per Chevy chat - finishing up final testing and approvals - dealership ETA 4/16/22 3/29 - 4200 - dealer ETA 4/23 4/5 - 5000 - but can't pick up for another week 4/16 - 6000 - Home Sweet Home Daily driver... '23 Mazda CX5/Premium Plus (dealer demo)

03-21-2022, 11:26 AM	#14
JSH Drives: '20 ZLE Join Date: Jun 2020 Location: Mile High Posts: 3,559	The old, "Buy low, sell high" method __________________ '20 ZL1 1LE A10, OEM short block, LME heads/valve train, E2650. 100+ octanes, no eth, no meth, no N2O. 2/23 - 1031/1004 wheel. 4/23 - 1.41/9.61/145 at DA 7000 ft. (only made five passes). 2/24 - LME 390, E2650, FBO, 100 oct.; 1116hp/ 1063tq; 109 oct. dyno next.

03-20-2022, 10:00 PM	#2
Yang N’ Bang 17’ Hyper Blue 2SS Drives: 17’ Camaro 2SS Join Date: Nov 2018 Location: Phoenix Arizona Posts: 225 View My Garage	The ol’ give you the lowest price possible for your trade, mark up the vehicle you’re buying as high as possible.

03-20-2022, 11:55 PM	#3
SATINSTEEL1LE Account Suspended Drives: 21 ZL1 Join Date: Feb 2022 Location: South East Posts: 662	Most dealers will look at the Manheim dealer auctions site to see what they could "theoretically" buy the car for. And they also will call for what they call "buy figures" from other dealers. Example would be if you were trading in a dodge at a chevy dealer. The chevy store would call a local dodge store and get a buy figure, or what would the dodge dealer be willing to buy the dodge trade in from them for. This gives the dealer an out if they dont want to resell your trade or are not in the market to sell what you are trading in. They can also use the NADA black book. There are several ways to appraise a car, but looking at the Manheim site to see what like model/mile cars are selling for is their likely way to put a number on it. This gives them the ability to use the line "well I could buy your car from auction at blah blah blah price".

03-21-2022, 08:12 AM	#5
LT1gen6 Drives: '22 LT1 Coupe Join Date: Nov 2021 Location: Motor City Metro Posts: 214	How desirable is your car to the dealer in question? Do they have multiple similar models on their lot, or is yours the only one for sale in town/area? Low miles, minty condition, bone stock, with a wow factor? Is it one they want to showcase for sale on their premises? You'll get more money if the answers are "yes" to all of these.

03-21-2022, 09:09 AM	#9
KaMaRow Drives: 2022 ZL1 Join Date: Feb 2022 Location: Asheville NC Posts: 171	so Im sure this questions answer changed per dealer but I do know a few dealers I have become friends with and basically they will go with what ever "proof" they can show you of the lowest price "they can get one for" and basically offer you that. IN my area my dealer go off wholesale. What the average auction price is and what other cars like your have sold locally for in the last 30 days. you cant bullshit a dealer they can look at your cars entire sales history and the sales history of any car they want. hey know what you paid are paying and your interest rate and everything about you and your car before they even make an offer. The ones that use truecar or say they go by Kelly blue book and al that marketing crap is all BS once you go in they will still pull up whole sale and go off that I have yet to ever see a dealer honor bluebook unless in the rare case whole sale was higher. everytime i have ever had a quote from carmax or and of those online before going in it was always higher and once i go there it of course was much lower. Long story short i wouldn't except any dealer to offer more then what they can get them at auction for. In had one dealer was upfront and even showed me the prices list they were working from told me the whole process and even their projected profit. All they would offer me was whole sale. They said they were gonna sell it for 7k more then they paid me and that was their profit margin. They had a business to run and employees to pay. I was super cool with it because they were upfront and no bs. with me anyway a straight up no games dealer is worth a few bucks less in my pocket then playing other dealers games. how ever in todays market things are a bit different with cars like the ZL1 most dealers will pay over to get them some even paying more for them then they sold them for. just depends on their allocations and the customer line they have waiting for one that they can mark it up on. if they can get your car for say 85K and they know they can flip it the next 10 mins to the other 20 people on the list well.... you got room to negotiate. IN that case no price list really matters.

03-21-2022, 09:42 AM	#11
GXP08jrf Drives: 2016 1LT 'Vert Join Date: Feb 2022 Location: Midwest Posts: 171	As others indicate, In addition to the auction information, dealers will need to adjust the offer up or down depending on a lot of different variables. Will they put your trade on their lot to sell or auction it? Is it a vehicle that is an easy or more difficult sell in the area where the dealer operates? Factors that determine this are the economic make-up of the dealer's neighborhood, are they urban dealer that is more interested in smaller, fuel efficient vehicles to have on their lot rather than a Pick-up that may be difficult to park? Is the trade "rare" in that there is not a lot of comparable vehicles going through auction to make a good assessment. Do they have a lot of used inventory already? Are they part of a dealer network who can afford to take more risks in the trade value and worry less about maximizing profit on your trade? Or are they a small dealer who needs to be more conservative on how much they profit from that transaction? Are you trading on a high demand vehicle or something they've been trying to move for a while? They'll play the psyche game too. If they detect you're eager to make the deal vs having a take-it/leave-it attitude they may factor this into their offer especially if you've already started paperwork or they know how you intend to pay the balance. In the past I was looking to trade a GMC Sierra. My local dealer that I had several good dealings with previously offered me about $3000 less than what I'd expected on trade. I walked away. I called a dealer about 20 miles away that also had a vehicle I was interested in and asked for a non-binding trade estimate over the phone. They were already $500 above the minimum I wanted contingent on seeing the truck. When all was done, they had bumped their offer another $1000 and got my business for a vehicle that'd been on their lot for nearly 8 months. A dealer's attempt is to make the most profit off you as possible, not to get you the best deal they can or give you a reasonable price based on auction. And it really depends on what they need out of the transaction to determine their benefit. This is heavily influenced by the locale in which the dealer operates and the vehicles they have to sell. I don't think it's possible to apply a simple formula to how they determine their offer from one dealer vs another.

03-21-2022, 10:09 AM	#13
TXCSSU Account Suspended Drives: 2022 ZL1 M6/Nissan Leaf Join Date: May 2016 Location: Dallas Posts: 1,138	Dealerships use different tools. If they all used the same tool they wouldn't be able to lowball the customer as everyone would know how much to expect from their trade. You're better off using all the tools available to you and ultimately deciding how much your trade is worth to you. Just a heads up, selling it privately can be a headache so keep that in mind when trying to sell it yourself.

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