I am about to trade in my mustang to get an evo. I know i can get more selling it private party, but it is just too convienent to trade the car in then wait for someone to buy my car. Kelly Blue Book says i can get ~$5,000 trade-in value for it. I doubt the dealer will offer me that much. it has less than 53,000 miles on it and its a 98 (so low miles add to the value). What does each mile add to the car? like 30cents a mile bonus or something?

I was wondering if you guys could tell me any secrets to get more for my trade-in. thanks in advance

 

They won't budge much. Low mileage might get you an extra $500-700 but that would be it.

Do what I did, put your car up on Autobytel or something. People email you about it, I got $1500 more than the dealership was offering for a trade-in. Only took 4 days to get something seriously interested. Might try it - only like $40 for a small pic and add!
G/L

 

I usually just go in saying that if they don't give me what I want then I won't be buying my new vehicle from them. 9 times out of 10 they want that new sale so bad that they fold.

When I bought my Evo, I told them up front that they had to buy me out of the car that I had, a 97 Eclipse Spyder. I told them that I owed $8000 on it (I actually owed $3000) and they jumped on it like a hobo on a hotdog. The car was not in good shape and was on the verge of falling apart but they still gave me $8000 for it just to get the Evo sale.

Just don't back down, they'll usually take a hit to make a $30,000 sale.

 

Sorry bud but there ain't much to work with in your post as far as info on your Stang..

It's tough enough to appraise one sight unseen... let alone without knowing the model, trans, color, mileage, condition...Need I go on?

Spend the time and sell it on your own..IMO.

If KBB thinks your car is worth $5,000 on trade..

Its prolly worth $3500 realistically..

 

Talk to your lender! Find out what loan value is on it - that's (theoretically) what they can sell it for. That and condition, of course. Find out what it's worth blue book AND by the bank.

Then, go in at the end of the month - find an '03 if you can - anything to make them motivated. End of the year was a good time as well.

Stick to your guns. If they get close but not close enough feel free to walk out - you can come back another time. I've been dragged back into dealerships twice on one sale alone.

The secret is to catch them when they want to make the sale. DO YOUR HOMEWORK and don't overpay. Buying a car is a very emotional thing - they're counting on it. Prove that you'll walk away...

Just my $.02...

 

No offense but..

DEALERSHIPS don't loan money and BANKS don't sell cars...

 

98 V6 automatic - atlantic blue. milage was in my first post.
i understand what youre saying, and i know that you cant tell me what its worth w/o visual inspection. i was just wondering if there were any secrets to getting more for a car than what they initially offer you

 

Yes... sell it yourself. Unless convenience is worth losing $3-5K then it doesn't matter.

If you trade your car in it doesn't matter what the dealer say's they'll give in as a trade. Because it's only on paper and doesn't represent REAL money.

What they'll do is offer you an amount say $5K, and maybe you'd be happy with that thinking your car's only worth $3K. So now you're thinking you made out an extra $2K.

Next is they'll subtract the $5K from the the BS dealer mark-up and let's say the mark-up is $5K. $35K -$5K= $30K

So let's say you get the car for $30K. The dealer now makes a profit from selling the car above invoice AND he takes your trade in for FREE..... Unless you still had a lien on it.

Sell it yourself... Good Luck.

 

usually banks will only finance the retail value. and from being in the finance field, lenders usually use nada to book a vehicle out. im sure he was just tryin to say to have the bank book it out and see what the high retail is...

 

It's a $3000-3500 car realistically.

Sell it yourself..the previous owner of a vehicle is ALWAYS it's best salesperson.

You will have better luck getting more for it!

But pay attention to the tax savings by trading it in...

May make it worthwhile just to go that route...


Being from the banking industry you will know that they will actually do 110% to 115% of MSRP for a good credit customer..

I agree though, an NADA book or Blue, Red, etc is a good reference point to start ..But it won't tell you the accurate values based on true market..

Only a dealer would be able to tell you that.

 

my dad is cosigning for me and he has traded several cars before, so he will help with the good credit and tax stuff. i cant sell it because i am in college right now, and have to drive a couple hours to get home to buy the car.

 

The point here is to not go in without being armed with knowledge. Know how much your trade-in is REALLY worth AND how much what you want to buy is truly worth. Enough give me wholesale for my trade and expect me to pay retail for your vehicle - BULL****!

When I went in they told me that they didn't find any local buyers for my trade-in while I was sitting there. I told them that it's not my problem. My car has a value, I'm entitled to it in trade.

Ya don't have to knuckle under from the pressure. Walk.

Car salesmen **** me off royally. I ALWAYS know more about the cars they're selling - from Cavaliers to BMWs. And they always use tired lines about no buyers, have to keep the lights on, blah, blah, blah when talking money.

This crap of shoving a piece of paper across the desk again and again is pedantic, adolescent, condescending horse****.

You know what the REALLY odd thing about my opinion on all of this is? I want to sell cars one day. I love 'em. And I want to put people in what they want and need. The only people that know LESS about cars than the salesmen are some of the poor schmucks coming to buy a car. Why not take something I love and make it a profession? I will when I 'm close to retirement or move to a southern clime - whichever comes first!

 

www.edmunds.com

true market value. give you what you can expect for a trade in, for a private sale, and what a dealer will sell it for. always take that with you when buying a used car, but keep it in your pocket and don't say anything unless you need it.

 

1996 Ford Mustang Coupe

01/29/04
LAS VEGA
Regular
$4,400
48,231
Avg
GREEN
6G
A
Yes

02/12/04
W PALM
Regular
$5,000
48,409
Above
GREEN
6G
A
Yes

02/25/04
CADE
Lease
$4,900
50,221
Above
BLACK
6G
A
Yes

02/05/04
BAY CITI
Lease
$2,000
50,608
Below
BLACK
6G
A
No

01/30/04
LAUD/MIA
Regular
$4,650
50,704
Avg
GREEN
6G
A
Yes

02/17/04
LAUD/MIA
Lease
$2,900
50,900
Below
RED/E9
6G
5
Yes

02/17/04
ST LOUIS
Lease
$3,850
53,101
Avg
BLACK
6G
A
Yes

02/05/04
OMAHA
Lease
$4,500
53,436
Avg
BLACK
6G
A
Yes

02/10/04
OHIO
Lease
$5,700
53,563
Above
WHT
6G
A
No

02/04/04
BAY CITI
Lease
$4,800
54,076
Above
WHITE
6G
5
Yes

02/05/04
PENSCOLA
Lease
$3,200
54,890
Avg
BLACK
6G
A
Yes

02/25/04
CEN FLA
Regular
$4,600
55,101
Avg
SILVER
6G
5
Yes

02/13/04
LAUD/MIA
Regular
$4,650
57,478
Avg
RED
6G
A
Yes

02/17/04
RIVRSIDE
Lease
$5,000
58,644
Above
WHITE
6G
A
Yes

 

It's one thing for a Mitsu dealer to take an Eclipse in trade. It can be quite another thing for them to take a 'Stang.

If they're not equipped to clean it up for sale, all they can do it roll it down to the wholesale auction -- where they get a poor price. The trade-in offers you get are just passing on this poor bargain to you.

But Behold the Power of E/Commerce: Describe your car -- with photos -- on a web page. Then plant links on the major 'stang boards.

You'll have buyers fighting for the chance to buy it -- if your asking price is reasonable. Don't high-ball.

Put down a reasonable price, and you can choose when/how you show the car in person.

I did a week of email stuff, and the only one who test-drove it was the guy who bought it. Total: about two weeks after I put up the web page (half of which was just waiting for the weekend).

One lesson: If your page is going to be picked up by the search engines, only put your email address in the page as a graphic (e.g. jpeg or gif file). Otherwise, the spambots pick it up.