Has anyone here attempted to trade in their OS?
Thread Starter
Joined: Jun 2005
Posts: 309
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From: Halifax Ma <> Tampa Fl
Has anyone here attempted to trade in their OS?
Like the title says.... Has anybody traded in/or got a quote to trade in their OS sport? I am curious what you managed to get for offers. The Wife drives a 11 SE that has RF w/ Navi and panoramic roof. She has been considering trading for a Toyota FJ cruiser. We do owe on our car still so I am trying to get an base for what we should expect to be offered on a trade.
I have jumped threw the KBB and NADA web pages ,but I know that the numbers pulled from them is not real world.
Thanks -Mike
I have jumped threw the KBB and NADA web pages ,but I know that the numbers pulled from them is not real world.
Thanks -Mike
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Joined: Oct 2013
Posts: 8
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From: Virginia
I took my 2011 SE AWD with RF/Navi and Panoramic Roof in for a possible trade in as my wife wanted something larger. No accidents at all. Aside from a minor scuff the size of a pinky nail on the rear bumper, the paint is flawless. Interior is perfect. It had 35,600 miles at the time (3 months ago). Dealership offered me 13,200 for it. It was even at the point that I would walk away if they didn't give me more but I ended up keeping the Sport for me and trading in my car (Honda Insight). I was told that there is no demand for this car. I was told that no one drives them around here and "...It's not that it's rare. People just don't want them."
Keep in mind that there are always many factors when getting a trade in amount. I was not at a Mitsubishi Dealership, but a Toyota Dealership. I was not buying a new car, I was buying a used one. And in all honesty, I rarely see any Outlander Sports around here. I just got back from a trip to upstate NY and these things are all over the place once you hit northern PA and all the way through NY. I have no idea why. So the location will also play a part.
Dealership guy also said that Mitsubishi Motors is going the way of Suzuki in the states. I had my grain of salt with me.
Keep in mind that there are always many factors when getting a trade in amount. I was not at a Mitsubishi Dealership, but a Toyota Dealership. I was not buying a new car, I was buying a used one. And in all honesty, I rarely see any Outlander Sports around here. I just got back from a trip to upstate NY and these things are all over the place once you hit northern PA and all the way through NY. I have no idea why. So the location will also play a part.
Dealership guy also said that Mitsubishi Motors is going the way of Suzuki in the states. I had my grain of salt with me.
Thread Starter
Joined: Jun 2005
Posts: 309
Likes: 1
From: Halifax Ma <> Tampa Fl
Around where I live the OS is quite common actually. My car has no accidents other than another a car scuffing into the side rear passenger door. White paint on white paint. Other than that the car is in good shape. It does have high mileage for its age at 57k+ My wife used it for her former employer which required non stop driving every day, a lot of the time over 200 miles a day. So winter capability and MPG were important when we purchased. Now she is self employed and only drives about 10 miles round trip daily. Now she wants to get back into a bigger SUV again and she has always wanted an FJ.
We do still owe on our car and I am sure we owe quit a bit. Not sure how many payments are left but if we are under water at all there is no way I can justify trading the OS in. I do like the OS other than a few minor things.
-Mike
We do still owe on our car and I am sure we owe quit a bit. Not sure how many payments are left but if we are under water at all there is no way I can justify trading the OS in. I do like the OS other than a few minor things.
-Mike
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Joined: Jan 2013
Posts: 2,740
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From: Out towards the countryside of Dallas, TX (USA)
OP,
One of the things you should realize, is dealers are there to make (high) profit. They usually won't admit that "high" part though... But, to give you a insider understanding is most large dealerships, their GM wants/expects a certain amount per 'copy' of vehicle that leaves their lot and that amount can be quite high.
The way I suggest you calculate what they will "give" you (for your trade) is to look at their listing and find a vehicle similar to yours, preferably the exact model, but that's not always possible, so find the next closest thing by category...
So, here's the insider info, most GM's want on average ~3,500-8,000$(or more if they can get it) per copy on Used vehicles that's within 3-4 years of their intro date. That usually covers the Owner's** pay, dealer cost(s), manager bonus, salesperson spiff.
So, if you look at a 2011 O.Sport with 57K+ miles and it's (let's say listed at) $15,800 at your local big box dealer... then all you need to do is subtract roughly $8,000 from that amount it' gives you $7,800. That's what you should expect where they'll start their trade-in quote (roughly, but realistic) to you.
If you still owe on the vehicle, then that's when they will reduce the amount to cover what's needed to pay off the note (to the bank.)
This is the standard routine at major dealers.
(And, if don't get that "copy" amount up front, they'll get it from you in the backend during financing on the new/other car you plan on purchasing. Either with their APR they give you or the down payment they want you to have to also cough up.)
**owner of the dealership.
One of the things you should realize, is dealers are there to make (high) profit. They usually won't admit that "high" part though... But, to give you a insider understanding is most large dealerships, their GM wants/expects a certain amount per 'copy' of vehicle that leaves their lot and that amount can be quite high.
The way I suggest you calculate what they will "give" you (for your trade) is to look at their listing and find a vehicle similar to yours, preferably the exact model, but that's not always possible, so find the next closest thing by category...
So, here's the insider info, most GM's want on average ~3,500-8,000$(or more if they can get it) per copy on Used vehicles that's within 3-4 years of their intro date. That usually covers the Owner's** pay, dealer cost(s), manager bonus, salesperson spiff.
So, if you look at a 2011 O.Sport with 57K+ miles and it's (let's say listed at) $15,800 at your local big box dealer... then all you need to do is subtract roughly $8,000 from that amount it' gives you $7,800. That's what you should expect where they'll start their trade-in quote (roughly, but realistic) to you.
If you still owe on the vehicle, then that's when they will reduce the amount to cover what's needed to pay off the note (to the bank.)
This is the standard routine at major dealers.
(And, if don't get that "copy" amount up front, they'll get it from you in the backend during financing on the new/other car you plan on purchasing. Either with their APR they give you or the down payment they want you to have to also cough up.)
**owner of the dealership.
Thread Starter
Joined: Jun 2005
Posts: 309
Likes: 1
From: Halifax Ma <> Tampa Fl
OP,
One of the things you should realize, is dealers are there to make (high) profit. They usually won't admit that "high" part though... But, to give you a insider understanding is most large dealerships, their GM wants/expects a certain amount per 'copy' of vehicle that leaves their lot and that amount can be quite high.
The way I suggest you calculate what they will "give" you (for your trade) is to look at their listing and find a vehicle similar to yours, preferably the exact model, but that's not always possible, so find the next closest thing by category...
So, here's the insider info, most GM's want on average ~3,500-8,000$(or more if they can get it) per copy on Used vehicles that's within 3-4 years of their intro date. That usually covers the Owner's** pay, dealer cost(s), manager bonus, salesperson spiff.
So, if you look at a 2011 O.Sport with 57K+ miles and it's (let's say listed at) $15,800 at your local big box dealer... then all you need to do is subtract roughly $8,000 from that amount it' gives you $7,800. That's what you should expect where they'll start their trade-in quote (roughly, but realistic) to you.
If you still owe on the vehicle, then that's when they will reduce the amount to cover what's needed to pay off the note (to the bank.)
This is the standard routine at major dealers.
(And, if don't get that "copy" amount up front, they'll get it from you in the backend during financing on the new/other car you plan on purchasing. Either with their APR they give you or the down payment they want you to have to also cough up.)
**owner of the dealership.
One of the things you should realize, is dealers are there to make (high) profit. They usually won't admit that "high" part though... But, to give you a insider understanding is most large dealerships, their GM wants/expects a certain amount per 'copy' of vehicle that leaves their lot and that amount can be quite high.
The way I suggest you calculate what they will "give" you (for your trade) is to look at their listing and find a vehicle similar to yours, preferably the exact model, but that's not always possible, so find the next closest thing by category...
So, here's the insider info, most GM's want on average ~3,500-8,000$(or more if they can get it) per copy on Used vehicles that's within 3-4 years of their intro date. That usually covers the Owner's** pay, dealer cost(s), manager bonus, salesperson spiff.
So, if you look at a 2011 O.Sport with 57K+ miles and it's (let's say listed at) $15,800 at your local big box dealer... then all you need to do is subtract roughly $8,000 from that amount it' gives you $7,800. That's what you should expect where they'll start their trade-in quote (roughly, but realistic) to you.
If you still owe on the vehicle, then that's when they will reduce the amount to cover what's needed to pay off the note (to the bank.)
This is the standard routine at major dealers.
(And, if don't get that "copy" amount up front, they'll get it from you in the backend during financing on the new/other car you plan on purchasing. Either with their APR they give you or the down payment they want you to have to also cough up.)
**owner of the dealership.
Thanks, I fully understand the process. I've been on the winning an losing end of trades on a handful of occasions, Which in the long run is a huge fault of my own. I am always getting bored and wanting to try something new much sooner than I really should. In this case I still enjoy driving the OS and I am pretty sure we will end up keeping it after we shop around a bit. I don't really want to start over and the rate we have currently is one of the reasons I don't mind having a car payment.
-Mike
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