Trade in value

[KnightMare]

NC doesn't have a sales tax on vehicles, we only pay a "Highway Use" Tax which is only 3%. So around $2500 if I don't have a trade in. I got to do some negotiating with my dealer to see if I can get a fair trade, if not I'll just sell one of my vehicles to another dealer locally.

 

[Cerino2000]

But you can still get your trade value even if you do the deal out of state as long as it’s shown in the deal paperwork.

 

[JumpSquadAuto]

Tough to say without a full spec of the trade-in and condition but I have bought and traded 5 cars in the last 3 years. A friend of mine has had about 28 cars in the last 5 years and from all that.....my take away is a good trade-in is about 90% of retail. kbb, nada, auction, black book numbers help give an idea but, at the end of the day the dealer is trying to flip our trades for a profit and dealers try to go for 15%-20% profit on the trades they take in....A good dealer offering a good trade number will be closer to 10% retail. My friends trades are mint and has great contacts at the dealers he buys from and is able to get a little over 90% of retail.

I would try to find 4-5 similar vehicles within 150 miles. Similar in miles, trim, spec and condition (wear and tear and accident history) and 90% of that retail is a solid trade, 20% is low. Tough part with these high demand launch vehicles is, dealers have all the leverage. Sales tax rules play a part in all this as well when considering private sale. Thankfully trade values for newer cars and trucks are higher then normal right now because of higher used retail so good time to trade for a new vehicle. Hope this is helpful.

 

[F8Demon]

Just remember the taxes when you guys are doing this math, if you trade in a 30k vehicle, that's 30k off the the total price you are paying taxes on. Plus the convenience factor of driving there in your old, no fuss, driving away in new. If a couple grand is worth it to you to advertise, show, have multiple back outs, etc, it can probably be done but most of our time is worth more than that.

 

[KnightMare]

Yeah good move. I might make my move next week when I got to take mine in to the dealer for a recall

 

[Caliche]

Yeah good move. I might make my move next week when I got to take mine in to the dealer for a recall

Glad to hear you got your juice back on... I’ve traded vehicles in before but always the day of purchase... how does the process work if I want to do it now and then wait for the TRX to be delivered? Thanks

 

[Brotharon]

Glad to hear you got your juice back on... I’ve traded vehicles in before but always the day of purchase... how does the process work if I want to do it now and then wait for the TRX to be delivered? Thanks

I asked my dealer about this after reading on here and they wouldn't do it. Said I could sell it to them today, but i wouldn't get the trade in tax credit so it would probably not be the more favorable way to go in my case. They also would not guarantee me a trade in value for when I take delivery because, my salesman said, anything he quoted me today wouldn't be relevant next week let alone next year. This appears to be working for some people, but not for this guy.

 

[Guns22]

It all really depends on dealer and what you are trading and how bad they want it . I was lucky in the fact that my Truck is super clean and the dealer wanted it for his lot , I also think they were worried I would private sale it and they would lose out on making the extra cash on there end . My dealer signed a deal for my trade knowing I was going to continue to drive it until new one arrives . The only stipulation was the deal would be off if the truck gets damaged in any way , that’s how I was able to make sure my 5,000 deposit was refundable to , but I also think that’s why my trade offer was only 30,000 when NADA value shows 34 to 37 grand for my truck with the miles it has but it was worth it to me to be able to continue to use it , hopefully that does not change when the new ride arrives, I hope the signed contract is binding. I have also noticed that my used truck value keeps climbing and I’m sure the dealer will not renegotiate.

 

[Brotharon]

It all really depends on dealer and what you are trading and how bad they want it . I was lucky in the fact that my Truck is super clean and the dealer wanted it for his lot , I also think they were worried I would private sale it and they would lose out on making the extra cash on there end . My dealer signed a deal for my trade knowing I was going to continue to drive it until new one arrives . The only stipulation was the deal would be off if the truck gets damaged in any way , that’s how I was able to make sure my 5,000 deposit was refundable to , but I also think that’s why my trade offer was only 30,000 when NADA value shows 34 to 37 grand for my truck with the miles it has but it was worth it to me to be able to continue to use it , hopefully that does not change when the new ride arrives, I hope the signed contract is binding. I have also noticed that my used truck value keeps climbing and I’m sure the dealer will not renegotiate.

That is the other thing. I have a 19 Rebel fully loaded with 4500 miles on it. The value keeps going up, and I don't think I would have trouble with private sale if it came to that.

 

[Guns22]

Really boiled down to time lines for me , not knowing when the truck was going to arrive made it hard to know when to sell it or how fast it would sell , I am not in a position to sell my daily driver and have nothing to get to work and hustle my kids around , the wife sure won’t give up her ride she probably does more running around then me. And it’s getting to cold to ride the old Harley around on a daily basis. Kids would love to be picked up on that for after school event’s lol

 

[VinnyTRX]

Has anyone gotten KBB value for their trade-in? My dealert told me that KBB is a joke and usually is way too high.

 

[Cerino2000]

Has anyone gotten KBB value for their trade-in? My dealert told me that KBB is a joke and usually is way too high.

Funny how they like to reference it when they are selling.

 

[VinnyTRX]

I traded in a 2017 Maserati Ghibli - got 3.5k more than kbb - used car prices are crazy right now. Your dealer knows this.

They told me that was the case last March when covid started but used car value has been coming back down.

 

[JumpSquadAuto]

They told me that was the case last March when covid started but used car value has been coming back down.

My dealer played the same tag line when they shook me down for my trade towards my C8. It was a kia niro that had a 14k kbb and 17k nada and they offered me 12k saying the kbb prices were old and the market has cooled off. Went to carmax and got 13.5k but I'd lose the sales tax credit selling elsewhere vs trade in my state.

Long story short the used car market is still very strong and any dealer that pretends otherwise is basically trying to short change you. Down side is with the demand for the TRX and a sold order......not a lot of leverage to negotiate stinks. I would show them what retail on your trade is and compare carmax, carvana, and kbb instant cash and try to bring the dealer up.

 

[RussianMOBB]

KBB and NADA do not write checks. They are just lead generators for dealers. Dealers do not use them as resources to evaluate/appraise their trades. Manheim MMR which aggregates actual recent auction transactions and Galves are what dealers use and yes typically the true wholesale numbers there are significantly lower than KBB/NADA. Depending on the car you are buying, the programs available(incentives/cash back), etc., if the dealer knows the trade is your "hot button" they will "over allow" on the trade but just hold more margin on the car they are selling you and/or hope to make it up in the finance department.

 

[Marshak15]

Research selling prices for similar cars and see what you want to do. Pretty simple. Only you can decide what you want to accept. Used prices are still though the roof however. Don't take our word for or your dealer's word- do a bit of research, and empower yourself. It will help you make the right decision and get as much as you can for your car.

Don't know if you already traded in your vehicle but try GiveMeTheVin.com I got 6k over what the dealer offered me and 1k over what CarMax offered.

 

[HiElevation]

I researched and figured I could sell my 17 Tundra for about 40 on my own. Asked the Toyota dealership if they wanted to buy it and they offered 37.5. My Ram dealer also offered 37.5 for trade in. At a 4.5% sale tax, that 37.5 plus the tax savings is a hair under 40. Well worth trading and being done with it for me.