WHERE TO GET BEST IDEA OF TRADE IN VALUE?

[NC_Overland]

Just glad my '23 is paid off and owe no one shit

lol I’d hope my 2020 was paid of by now. That would be pathetic otherwise. lol

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[Alpine Warthog]

I sold cars for a few months and it was very eye opening. the rules for making money are weird but our goals were always to make the buyer feel like their car was as beat up as possible (everybody over values the car they trade in)

1. So, the first trade in-value they give you is always low (watch early pawn stars episodes for a great primer in price negotiations)

2. The car sales guy only makes $100 for every NEW vehicle they sell. The real money is in used cars. (Salesmen get 25% of the profit off a used car) so the deal is made in the trade. Don't get mad at the salesman, he's not the one screwing you, it's the sales manager.

My advice, always wait till the end of the month (very last day), bring the trade-in cleanish, minor paint flaws will be covered up by dirt, interior empty-ish, not polished. Let them think you're here on a whim, not a desperate buyer. Never ask about the vehicle you want, pick one that's cheaper and let them think they upsold you. Be willing to walk away. New cars don't have wiggle room in the price. It's all on the trade-in value.

 

[ShadowsPapa]

Pretty hard to make our vehicles appear beat up, scratched up or faded, etc.
They'd have to do something to them to cause any damage.
They usually don't even spend 5 minutes with our trades.

 

[NC_Overland]

Pretty hard to make our vehicles appear beat up, scratched up or faded, etc.
They'd have to do something to them to cause any damage.
They usually don't even spend 5 minutes with our trades.

What he’s talking about is a big majority of the vehicles traded in aren’t in great shape and everyone values their car as perfect when it’s often far from it. They almost always need cosmetic work, tires, brakes, etc or all of the above.

If you’re halfway decent at your job, it comes into the valuation. You should be factoring in reconditioning costs and whether it’s something you’d retail vs send to auction. I’ll stretch on a car if it’s something we’d retail and doesn’t appear to need much work. After appraising hundreds, if not thousands, of cars, you’d be surprised why you can see in 5 min. They really should drive them at least around the block though.

 

[ShadowsPapa]

What he’s talking about is a big majority of the vehicles traded in aren’t in great shape and everyone values their car as perfect when it’s often far from it. They almost always need cosmetic work, tires, brakes, etc or all of the above.

If you’re halfway decent at your job, it comes into the valuation. You should be factoring in reconditioning costs and whether it’s something you’d retail vs send to auction. I’ll stretch on a car if it’s something we’d retail and doesn’t appear to need much work. After appraising hundreds, if not thousands, of cars, you’d be surprised why you can see in 5 min. They really should drive them at least around the block though.

When I traded one of my JTs in - they asked me how many miles on the odo, and a couple of other things and our sales guy said "no problem, we'll be able to put this out as CPO." They know it's clean on the underside, too - no rot and rust. I hate rust, drives me nuts. (and I think they know that)

But yes, it's amazing what people will hide....... and I see it all the time when advertising for "rust-free parts wanted". They show me something with a hole through it and say it's rust free. No, rust-free means NO rust, not "only one hole".
I advertised for a rust-free right fender for my car a few years back - the photos I got back "here's one for you" were laughable -the lower mounting tab gone? Really? that's rust-free?

 

[NC_Overland]

When I traded one of my JTs in - they asked me how many miles on the odo, and a couple of other things and our sales guy said "no problem, we'll be able to put this out as CPO." They know it's clean on the underside, too - no rot and rust. I hate rust, drives me nuts. (and I think they know that)

But yes, it's amazing what people will hide....... and I see it all the time when advertising for "rust-free parts wanted". They show me something with a hole through it and say it's rust free. No, rust-free means NO rust, not "only one hole".
I advertised for a rust-free right fender for my car a few years back - the photos I got back "here's one for you" were laughable -the lower mounting tab gone? Really? that's rust-free?

Thankfully, I’ve never dealt with rust, but if I lived somewhere like that I’d absolutely be looking for rust too.

That dealership probably just knows and trust your vehicles. That’s a bit of an outlier.

 

[ShadowsPapa]

Thankfully, I’ve never dealt with rust, but if I lived somewhere like that I’d absolutely be looking for rust too.

That dealership probably just knows and trust your vehicles. That’s a bit of an outlier.

Yeah, on both...........

 

[ericw.]

When I traded one of my JTs in - they asked me how many miles on the odo, and a couple of other things and our sales guy said "no problem, we'll be able to put this out as CPO." They know it's clean on the underside, too - no rot and rust. I hate rust, drives me nuts. (and I think they know that)

But yes, it's amazing what people will hide....... and I see it all the time when advertising for "rust-free parts wanted". They show me something with a hole through it and say it's rust free. No, rust-free means NO rust, not "only one hole".
I advertised for a rust-free right fender for my car a few years back - the photos I got back "here's one for you" were laughable -the lower mounting tab gone? Really? that's rust-free?

They think it's rust free when it's rusted out. There's also very little metal left.

 

[JTGuy]

I have lived in no rust so cal all my life. I have a 2014 Ram 2500 4x4 that parks in my driveway that shines like new and there is NO rust.

 

[YGBSM]

My impression of car buying is that they usually deal with an older person in a straight forward manner. When I was young I had to pass on a lot of new Jeeps. But now they seem to do an idiot check (MSRP or more) and then come back with a good deal. They still try to beat me up in the finance department. Even if I'm paying cash. I always trade in because trying to sell it at a consignment lot is about the same as trade in. I used to be entertained at what came out of the woodwork if I listed it myself.

 

[Alpine Warthog]

What he’s talking about is a big majority of the vehicles traded in aren’t in great shape and everyone values their car as perfect when it’s often far from it. They almost always need cosmetic work, tires, brakes, etc or all of the above.

If you’re halfway decent at your job, it comes into the valuation. You should be factoring in reconditioning costs and whether it’s something you’d retail vs send to auction. I’ll stretch on a car if it’s something we’d retail and doesn’t appear to need much work. After appraising hundreds, if not thousands, of cars, you’d be surprised why you can see in 5 min. They really should drive them at least around the block though.

Exactly, Our appraiser guys seemed to be able to smell if the car was going to throw a rod or something. They were pretty good. They only took the time to drive the ones they were hoping to keep and sell. Then it was time to gently trash talk the car so they wouldn't get mad at the embarrassingly low trade-in offer.

 

[ShadowsPapa]

Then it was time to gently trash talk the car so they wouldn't get mad at the embarrassingly low trade-in offer.

They have learned not to do that with me - in my case, I really DO know what I have, as an automotive pro for decades. They can't ever try that.

 

[JTGuy]

The 5-10K more you get with a private sale is no longer worth dealing with all the goobers and it won't make a difference in my life. If I don't sell to a friend it gets traded in.

 

[NC_Overland]

They have learned not to do that with me - in my case, I really DO know what I have, as an automotive pro for decades. They can't ever try that.

You keep responding like these are personal attacks. We are talking about our experiences from working in the car biz.

 

[NC_Overland]

The 5-10K more you get with a private sale is no longer worth dealing with all the goobers and it won't make a difference in my life. If I don't sell to a friend it gets traded in.

I hate selling to friends and family.

Also, with the money saved in taxes, it’s often not worth it if you can negotiate a decent trade in offer.

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