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what's the best way to get a higher trade-in value

Joined
7 February 2001
Messages
1,452
So I go to the Acura dealership to buy a new TL w/Navi. We agree on matching edmunds.com TMV price, then we talk trade-in. I have a 2003 Land Rover Discovery in excellent condition, low miles, navi, HID's, everything loaded. NADA rates the trade-in at 25,275...dealership offers 21000 :eek:
The bad thing about it is that they are also the Land Rover dealership and they have a Disco just like mine, but thiers has more mileage and no navi or HID's that they are asking 28,000 for? I left and told them to call me when they can at least match NADA trade in. That was 5 days ago, they called today with a song and dance but they can only do 23,000. Whats next? I told them I am ready to buy when they will give me trade in value and nothing less. There are a couple of other dealerships around with the same car that will do the same price, but I dont want to drive 3-5 hours only to get the same song and dance on trade-in. Any advice?
 
The company I work for owns an Acura dealership. Since all I have are Acura's and was looking for a TL, I naturally decided to see what they would do for me.
After constantly telling me to come in and they would 'take care' of me but never giving out a price, I got tired of waiting. Went to competitor and told them the story. They gave me more for the trade in than any of the books said they should and sold me the car for $500 over invoice. I was very happy with deal and they stuck a feather in their hat selling car to competition employee.
I guess my advice is, tell the dealership that a competitor is willing to do the deal you want but you wuold prefer to keep your money local. Maybe even be able to start a long term relationship with them.
 
If you lowball them on the new car they will lowball you on the trade. Trading it in is the easiest, but sell it yourself for the best way to get the most money. The trader is only $29 bucks for 2 weeks.
 
jimmycinla said:
If you lowball them on the new car they will lowball you on the trade. Trading it in is the easiest, but sell it yourself for the best way to get the most money. The trader is only $29 bucks for 2 weeks.

But don't forget the tax savings. In your example of the 23k the dealer offered you compaired to the 25.3k you would like to get leaves a difference of 2.3k. If you sell the Rover outright for 25.3 K and go in with the cash you now owe the tax on the 23k. In NY this would be an additional 1897.50 you would owe, thus netting you a true profit for all the screwing around selling the Rover of 402.50.
 
I'd call a competitor and talk with a salesperson. If they commit to a great deal, you're set. If not, you're out the time talking to them over the phone. I'd also wait for the deal that you want.
 
W said:
I'd call a competitor and talk with a salesperson. If they commit to a great deal, you're set. If not, you're out the time talking to them over the phone. I'd also wait for the deal that you want.
the price on the car is not the issue. I have three different dealerships that will do the price, but only one of them is local enough to drive over with my trade in and get that value. The others I would have to use a whole day going and if they werent reasonable on the trade then I would have just wasted that day :frown: As far as taxes go, I wouldnt be making any money on the truck b/c I've only had it two months and still owe that much on it :cool: All of the trade in money would just pay off the loan.
 
SNDSOUL said:
the price on the car is not the issue. I have three different dealerships that will do the price, but only one of them is local enough to drive over with my trade in and get that value. The others I would have to use a whole day going and if they werent reasonable on the trade then I would have just wasted that day :frown: As far as taxes go, I wouldnt be making any money on the truck b/c I've only had it two months and still owe that much on it :cool: All of the trade in money would just pay off the loan.[/QUOTE

He is talking about sales tax on the new vehicle... With a trade you only pay for the difference if any... Straight purchase you would have to pay the tax on the new vehicle... Unless your state gives you a tax credit that applies to the new vehicle after selling another... Some states do...
 
Maybe sit on the car for a couple of weeks and wait for the end of the month to near.

Some friends I have, in service at some local dealerships, definitely confirm the 'End of the month PUSH' to close deals exists. I bet if you hang in there and maintain once a week/every 10 days communication w/ your sales rep, they will eventually move their price up on your trade....assuming you are not trying to lowball on your new car offer. It sounds like they aren't going to just sell your car off at the auctions or to an independent wholesaler, since they have a higher mileage versions already on the lot.

Ultimately dealerships want to drive turns on cars sold. They are always trying to re-lease cars before your deal is up, to drive new car sales.
 
len3.8 said:
SNDSOUL said:
the price on the car is not the issue. I have three different dealerships that will do the price, but only one of them is local enough to drive over with my trade in and get that value. The others I would have to use a whole day going and if they werent reasonable on the trade then I would have just wasted that day :frown: As far as taxes go, I wouldnt be making any money on the truck b/c I've only had it two months and still owe that much on it :cool: All of the trade in money would just pay off the loan.[/QUOTE

He is talking about sales tax on the new vehicle... With a trade you only pay for the difference if any... Straight purchase you would have to pay the tax on the new vehicle... Unless your state gives you a tax credit that applies to the new vehicle after selling another... Some states do...

Ah that makes more sense. So the car is 33,800 plus ttl. If they give me 23000, leaving 10,300 what is the tax difference as apposed to the 33,800 by itself. I'm not sure on Mississippi's new car tax?
 
steveny said:
But don't forget the tax savings. In your example of the 23k the dealer offered you compaired to the 25.3k you would like to get leaves a difference of 2.3k. If you sell the Rover outright for 25.3 K and go in with the cash you now owe the tax on the 23k. In NY this would be an additional 1897.50 you would owe, thus netting you a true profit for all the screwing around selling the Rover of 402.50.

No such luck in Calif.

-j0
 
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