Trading in your car

We're looking to trade our car in very soon, and since we've never done it before, I need some insight and tips on this from those that did.

First of all, how do we go about it? Should we go to the same dealer? I'm assuming that we will first need to pick out the new car, and THEN advise the dealer that we would like to trade our old car in...I also looked up Kelley's Blue Book value of our car so I kind of know what we should get for it, but should we negotiate, etc.?

Thanks for your help!

Message edited 4/2/2008 11:18:16 AM.

Re: Trading in your car

show me your puppies first and then i'll answer the question!

Re: Trading in your car

Posted by bomb-blast

show me your puppies first and then i'll answer the question!

Message edited 4/2/2008 11:28:48 AM.

Re: Trading in your car

I like Edmunds better for a car value. I have always tried to settle on a price before mentioning the trade in or how I plan to pay for the car. I prefer not to use dealer financing because the rates are higher than my credit union.

Re: Trading in your car

privately selling a car will always net you more than trading it in at a dealer, but selling a car privately can be a pain in the neck, so when you go to a dealer you're sorta 'paying' for the convenience of them taking the car off your hands.

first negotiate the purchase price of the new car...dont mention the trade-in yet or how you plan to finance the new car.

also try different dealerships. they will all offer different purch price and trade-in values. try to get things in writing for you to use as leverage when you go to the next dealer.

it is a bit of work, but if you want to get the best deal, it's worth it.

keep in mind how badly the auto makers are doing these days. they are hurting, which is good for consumers.

Re: Trading in your car

I got FH's car at a really good deal. I went through the online portion of MANY dealerships. Then I went to the dealeship I know, and when they gave me a price, i told him I'd love to buy it from him, but the other guy gave me a better price, so he was able to match it. Then when it turned out the other dealer had the color we originally wanted, I called the salesman to tell him and he knocked some more off.

Re: Trading in your car

We just did this on Monday..DH went to the original dealership but they didn't have the exact model of the car we wanted to get. So we went to a local dealer & got the car we wanted. We still had a lien on the car we were trading in so we had to see what they would give us. My DH did all the negiotating but I can tell you we didn't go on the first # they gave us. Do your homework though & know what you "should" get for the car you are trading in....

Re: Trading in your car

I would try to sell it on your own first. The dealer is going to give you half of what you could get wtih a private sale.

I traded in my old car and I could have gotten about $6000-$7000 for it in a private sale (which would have paid off my balance) but I know it wouldn't have sold right away and I wanted my new car asap. I took a loss and only got $3500 for my car and I carried over onto my new car almost $3000.

Do what you can to sell it on your own first. Just my opinion.