Has anyone had experience trading in their car?

Particularly one that has a balance left on the loan?

I think I might be crazy to do this...but we desperately have to upgrade.

I know what the blue book value on my car is, and I know that one rarely gets what it's valued at.

So...any tips? Do I just walk if I can't get the blue book value? Would anyone even give me that at this point?

TIA!

Re: Has anyone had experience trading in their car?

It all depends on what the car is worth vs what you owe. I have heard it is a good idea to negotiate the price on the new car first, and then tell them that you have a trade in, this way they don't try to increase the price of the new car, to counteract the money they are giving you on the trade.

Re: Has anyone had experience trading in their car?

how about if I'm going into a dealer with a quote from another dealer (in which they did not know I was trading in)...

wouldn't they just try to match it or do better, regardless of the trade in?

I'm so clueless. Thanks!

Re: Has anyone had experience trading in their car?

trade ins you usually get screwed on because they give you the wholesale value not the kelly blue book value.

You always disclose the trade-in last, even if they ask you first.
If they know they have to take a trade off your hands, they are less likely to get down to the lowest price.

Get them down to the price you want, then see what they offer you for the car.
Also, check out different places and what they will offer for your car.
I've been pricing mine and it's varied 500-1000 depending on the place.

as for if you owe on a tradein, No advice. Never had that experience.

Re: Has anyone had experience trading in their car?

negotiate your best deal on the car you want. Never tell them about a trade until you are ready to do the deal. If you have a quote from another dealer that didn't take your trade into account that's even better.

Get them to beat the price and then spring the trade in on them. Tell them you need to get X$$ so you can pay off your loan.

Go onto Edmunds.com and see what the manufacturer's invoice price is. If it's not a hot selling car you should be able to get close to that price then tell them about the trade.

Re: Has anyone had experience trading in their car?

when they ask about the trade-in, I just say no, not "I'm not sure." Why do I feel weird lying when I know for sure I'm doing this? They have to know the tricks anyway!

Re: Has anyone had experience trading in their car?

Posted by TaraGotHutched

when they ask about the trade-in, I just say no, not "I'm not sure." Why do I feel weird lying when I know for sure I'm doing this? They have to know the tricks anyway!

Message edited 2/16/2010 11:27:57 AM.

Re: Has anyone had experience trading in their car?

I know a friend of mine rolled her balance into a new car, but that was 10 years ago...loans have tightened up - not sure if they still do that?


It will be hard to negotiate the price of the car an the trade in. If you negotiate one, they'll be less flexible with the other.


We once had a friends and family discount (1% below dealer's cost) from BIL's business partner and we negotiated the trade in first and then we told them about the discount.

Re: Has anyone had experience trading in their car?

I had an Acura TSX and Acura actually contacted me to suggest trading it in telling me they "would sweeten the pot" bc TSX pre owned were in demand....

DH and I decided that we wanted to do it...

We went and DH really had to negoitate--at first I did not see ANY sweetening of the pot

But ultimately after a lot of back and forth (which I am not good at and was actually kind of embarrased) bw DH and the dealer we did get a good deal on a new TL (larger model car).

So basically I think you can get a good deal--but you have to be prepared to be REALLY pushy--which is not for everyone (I am not good at it but DH is)

Good luck