quick question, if I'm trying to do an even trade with a dealership would i use the retail value of my car or the trade in value?

 

Trade in value

No dealer is going to do a straight trade, at best you'll still be eating the tax title and license fee's.

But yea, dealers want to SELL the car at retail value, so they will only give you +/- KBB trade value for it.

 

trade in if your @ the dealer retail if sold private

 

even if the retail value for my car is higher then the other car? so they'd still be making money.

 

It really worries me sometimes when I see these questions. People I think need to take a car buying course before ever allowed to purchase.

 

In addition, just to clarify not trying to be mean. It just can really cause havoc without being keen to the business aspect. Just slow down and if you gave real info we could help better!

 

x2

 

i agree with the previous statements above me. car salesmen and the like are not the most honest bunch you will meet.

learn a little more about the ins and outs with trade ins before you go to the dealership because they prey on people who dont read/ know about fine print.

 

well to be honest i did take offense to that at first but that second post was better, so thanks. here's they story I've been looking to get rid of the tc for a while, not because i don't like it. the weather up here in Syracuse NY isn't as sunny as it is in CA haha. Its down right horrible here and between our wide low profile tires and FWD i can hardly get around. so Im trying to trade my car in, ive been looking at volvo s60rs and Audi s4s (B5). basically because they have good platforms and AWD. most of the ones ive been looking at have a price tag of 9500-1100. the kbb trade in on my car is between 8500 and 9500, and a retail of 13000 so im trying to figure out exactly what i can do.

 

Ok. Typically speaking a dealer will offer around a nickel ($500) back of "fair" BLACK BOOK value. Black Book is a special monthly release pocket book available to dealers based on real auction prices. Now, if KBB on the low side says 8500 the dealler will more than likely hit you around 7,500. With that said, remember why you are saying you want to get rid of it.....fwd etc. this can possibly hit that value further decreasing it as well. So let's for arguments sake say they offer you 7500.

Next, I am curious as to the cars you mentioned. I would think if "functionality" were really job one you would be seeking maybe a small suv with better ground clerance. You say howver that you are looking at the Audi and Volvo. Nice cars...but I wonder how much of this wanted to trade has to do with "functionality" and how much it really has to do with "upgrading " a bit. Only you TRULY know that answer.

Anyway, if they offer you 7500 and the car you want is 11,000 you would pay the difference of $3,500. IF you are willig to pay what they ask and YOU SHOULD NOT!!!!!!!! Let me repeat...DO NOT GIVE ASKING PRICE! Ok , now that aside.....it would in this case be 3500 difference ASSUMING your car is paid off. If it is not you need to add what your payoff is to the difference.

So here are 2 examples:

Your car trade in 7500
New car your buying 11000
Difference is 3500
PLUS payoff on your SCION (10000) Assuming
Total you pay for new car 13500


OR

Your car trade in 7500
New car youre buying 11000
Difference 3500
Payoff on your SCION = 0

Total you pay is 3500




Does this clarify a bit?

 

yes that helps alot thank you.

first off to be honest it has to do with upgrading as well as AWD, so if I'm not going to give asking price how much should i look for?

to clue you in on the condition of the car it has some minor dings its a daily driver, but no rust major defects ect. and around 47000 miles

 

Simple rule of thumb since all you have is kbb and not a black book see what they offer you ACV ACTUAL CASH VALUE! This means the value that your car is truly worth regardless of what car of theirs you want to buy. Anyway lets say they offer you an amount that is 1000 lower than fair condition of KBB you offer them apples to apples 1000 lower than fair according to KBB on thiers. If they pull the "but we prep it for sale jargon" give them 500 addition on theirs but thats it! If it needed more than that you don't want the car!

It's a game......like poker......you need to know the strategy!

 

thanks for the advice, i hope things work out for me, looks like i need to put a little money into the new car but it seems doable

 

Just GO SLOW! If you have questions just ask.

Also, before you leap check maintanence costs and reliability an Audi will cost you and so will a Volvo.

 

i appreciate your advice very much, i realize your 32 and have some experience in this, i on the other hand do not. so thank for your time. but i have one more question do you think it would be more cost effective to sell my car privately first then use that money to buy my next car?

 

Your very welcome glad to help. <y apologies if I came off abrupt ealrier wasn't my intention.

Yes, selling privatley is much better.