Don't have much experience in dealing with dealerships. Is it unreasonable to go off of Nada when trading in a vehicle? Of course they're trying to get it as cheap as possible, I just found the offer a low blow, and left rather than countering. Trucks definitely at least average shape, I want at least the middle of average and rough trade in. Just want other opinions before I answer back.
Trading in a vehicle
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Many (most) dealerships will completely, absurdly low-ball you on the trade, i.e., offer you less than trade-in value or wholesale. Why? Most people just take what they are offered, and they make an extra few grand on the deal.
Your options are, besides keeping the car:
1) Ask for more money. "I really have to get X." Or "You have to give me Kelly Blue Book/NADA/Edmunds trade-in value." If they don't give you what you want, walk.
2) Trade-in to another dealer who gives you more money.
3) Sell it yourself. It takes time, effort, and you don't get the sales tax benefit, but you'll get the most money for the car this way.
Your options are, besides keeping the car:
1) Ask for more money. "I really have to get X." Or "You have to give me Kelly Blue Book/NADA/Edmunds trade-in value." If they don't give you what you want, walk.
2) Trade-in to another dealer who gives you more money.
3) Sell it yourself. It takes time, effort, and you don't get the sales tax benefit, but you'll get the most money for the car this way.
i traded my old truck in on a new truck back in october. What i did was print out the nada and kbb values of the truck for average/fair, good and excellent conditions to have on hand for *when* they lowball you initially. I spent $150 bucks and had the truck detailed the weekend before i went truck shopping. We haggled a little over the price of the new truck and once that was settled we haggled over the trade. Once i was satisfied with the value they were offering me i haggled for an extra $150 to pay myself back for the detail. It was a lot easier to haggle over a couple hundred bucks on a trade that was clean! In my case it was a very well spent 150 as i got my money for the detail on top of a couple hundred more than what i would accept as a fair trade offer because it was clean. Just be realistic with yourself before you go to the dealership, look on craigslist, etc., for the same vehicle you have and see what it is selling for and get your vehicle cleaned and do an honest assessment. Whatever you do, go to more than one dealer and be prepared to walk away, dont let them pressure you, after all, remember it is YOUR money and YOU are the customer. On the other side of the coin, be honest with them and yourself, dont even entertain the idea of buying more vehicle than you are shopping for, thats how people end up making mistakes. make a plan, do your research and stick to it. NEVER BUY AN EXTENED WARRANTY !!! If you feel like you need/want one, you can always buy one later..
good luck
good luck
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More thoughts on negotiating trade:
You start by demanding to get X, where X is more than you expect to get. You have to give me ____ for my trade.
Whatever they counter with, act super disappointed. That's it?
Counter with a little less than X. Absolutely play the offer, counteroffer game a few times.
If they get to the point where they're inflexible, keep asking for more, even if just another grand. Don't be afraid to sound like a real weenie, or even be a dick about it. If you could up the offer by $500, we'd have a deal.
This will only extend your dealer visit marginally, as you're already blowing a couple hours anyway. I've never seen them not cough up at least a few hundred more dollars after their "best offer" or whatever else.
You start by demanding to get X, where X is more than you expect to get. You have to give me ____ for my trade.
Whatever they counter with, act super disappointed. That's it?
Counter with a little less than X. Absolutely play the offer, counteroffer game a few times.
If they get to the point where they're inflexible, keep asking for more, even if just another grand. Don't be afraid to sound like a real weenie, or even be a dick about it. If you could up the offer by $500, we'd have a deal.
This will only extend your dealer visit marginally, as you're already blowing a couple hours anyway. I've never seen them not cough up at least a few hundred more dollars after their "best offer" or whatever else.
I have a good friend that was in the after market auto-leather business for many years and he told me this rule to live by;
"Dude, There are no lower scum in this world than car dealerships and people that work in them! I'm talking complete garbage! They are liars! They are swindlers! And, they are cheaters! I have never seen the type of **** bag that I encountered while I was selling these sleaze leather!"
I laugh every time I think about that.
Now, that stated; How do you think Tom Benson made enough money to own two professional sports teams just being a car dealer? Exactly!
They obviously want you to give them everything on the deal. I had a neighbor (in the used car biz), that told me he could pay me $2,000 more than I paid for a used truck I bought for my kid, and sell it for $2,000 more the next day. It is a number's game.
In selling, always be prepared to walk away! No matter what. Good buyers can smell desperation a mile away. Some of the best deals I ever made were unsolicited and the seller found me! They are usually hurting for money.
As for a trade in. Yes! Definitely use your truck for that. However, my best experiences always surrounded around me knowing someone or knowing a good friend of a friend at the dealership.
"Dude, There are no lower scum in this world than car dealerships and people that work in them! I'm talking complete garbage! They are liars! They are swindlers! And, they are cheaters! I have never seen the type of **** bag that I encountered while I was selling these sleaze leather!"
I laugh every time I think about that. Now, that stated; How do you think Tom Benson made enough money to own two professional sports teams just being a car dealer? Exactly!
They obviously want you to give them everything on the deal. I had a neighbor (in the used car biz), that told me he could pay me $2,000 more than I paid for a used truck I bought for my kid, and sell it for $2,000 more the next day. It is a number's game.
In selling, always be prepared to walk away! No matter what. Good buyers can smell desperation a mile away. Some of the best deals I ever made were unsolicited and the seller found me! They are usually hurting for money.
As for a trade in. Yes! Definitely use your truck for that. However, my best experiences always surrounded around me knowing someone or knowing a good friend of a friend at the dealership.
The key is you have to be willing to spend the time required to get the best deal. I purchased a 2015 2500hd back in July and traded in a 2006 1500hd in very good condition. I spent 10 hours over 3 days working the deal. I feel like it was worth the time as I got what I wanted for my trade and the price I wanted on the truck. Every sale they make is going to put money in their pocket they never loose money on a deal, and that's ok. It's a matter of how much money they make off of you so Stand your ground after all it's your money !
Also be prepared, If you negotiate a great sale price on a new vehicle and they give you what you want on your trade be prepared for the finance person to hit you with a high interest rate. They will often try and make back there margin in finance. If possible have your financing and interest rate completed before you walk in (At your bank or lender) or know what the lowest rate is for that vehicle if using the manufacturers financing.
Also be prepared, If you negotiate a great sale price on a new vehicle and they give you what you want on your trade be prepared for the finance person to hit you with a high interest rate. They will often try and make back there margin in finance. If possible have your financing and interest rate completed before you walk in (At your bank or lender) or know what the lowest rate is for that vehicle if using the manufacturers financing.
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Here is my take:
1. Know exactly what you want.
2. Shop online till you find 3 or 4.
3. Start negotiating. On both vehicles
4. Only get off your couch when a dealer has agreed to what you feel is fair.
Here is what I did nearly two years ago.
I wanted a new F-150 ecoboost with a specific trim level and was trading a year and half old Camaro with 50,000+ miles, so I started shoping online and found a few. I started negotiating with multiple dealers my trade and thd new truck. We went back and forth for a good week through email and text. I sent them pictures of the car. We worked each other pretty hard on price, but we came to an agreement. They put it in print, and that Saturday I drove to just south of Fort Worth, Tx (from Ponchatoula, LA) to buy my truck. I will never buy another vehicle any other way if I can help it. I had a dealer locally with a pretty close truck with $1000 less in options that wanted me to eat an extra $8,000 on that deal.
1. Know exactly what you want.
2. Shop online till you find 3 or 4.
3. Start negotiating. On both vehicles
4. Only get off your couch when a dealer has agreed to what you feel is fair.
Here is what I did nearly two years ago.
I wanted a new F-150 ecoboost with a specific trim level and was trading a year and half old Camaro with 50,000+ miles, so I started shoping online and found a few. I started negotiating with multiple dealers my trade and thd new truck. We went back and forth for a good week through email and text. I sent them pictures of the car. We worked each other pretty hard on price, but we came to an agreement. They put it in print, and that Saturday I drove to just south of Fort Worth, Tx (from Ponchatoula, LA) to buy my truck. I will never buy another vehicle any other way if I can help it. I had a dealer locally with a pretty close truck with $1000 less in options that wanted me to eat an extra $8,000 on that deal.
I have a good friend that was in the after market auto-leather business for many years and he told me this rule to live by;
"Dude, There are no lower scum in this world than car dealerships and people that work in them! I'm talking complete garbage! They are liars! They are swindlers! And, they are cheaters! I have never seen the type of **** bag that I encountered while I was selling these sleaze leather!"
Now, that stated; How do you think Tom Benson made enough money to own two professional sports teams just being a car dealer? Exactly!
They obviously want you to give them everything on the deal. I had a neighbor (in the used car biz), that told me he could pay me $2,000 more than I paid for a used truck I bought for my kid, and sell it for $2,000 more the next day. It is a number's game.
In selling, always be prepared to walk away! No matter what. Good buyers can smell desperation a mile away. Some of the best deals I ever made were unsolicited and the seller found me! They are usually hurting for money.
As for a trade in. Yes! Definitely use your truck for that. However, my best experiences always surrounded around me knowing someone or knowing a good friend of a friend at the dealership.
This^^^, I went to buy the wife a new SUV last year we are talking a good bit of money. I was quoted a price by a local dealer. Went back with the money and the price went up $6500.00 WTF! he said they made a mistake in the price, i said tough you have to sell the car to me at what you quoted, I had it in writing! Still would not do it. I said Ok I'll pay $3250.00 more and he could eat the other half of the mistake, still would not move a penny. I told them to F/O!! I drove to Oklahoma to get the old lady the model/ color and options she wanted, happy wife= happy life! Now I bring her car back to the dealer that pissed me off and I make them honor the 2 year free service plan! You gotta watch em! If you are not happy leave! I have a business, I never turn money away. I'd rather make the customer happy! I tell folks when I'm spending money I shouldn't have to beg them to take mine or F**k me when they do it!
I notice the iterest rate thing they said I got thd best rate ford had to offer and in order to get certain rebates I had to finance through ford, so I bought it and refi'ed before my first payment. Saved a .5% interest rate through my insurance agent but my credit is low 800s so I have a little leg room. I also pissed the guy off when he tried the hard sell on the extended warranty. I told him if I was worried about the quality of Ford I would not buy a Ford! And then smiled.
Vehicle dealerships are a for profit business. If you don't like the way they deal sell you're vehicle you're self and pay MSRP for whatever you're wanting and be done with it.
MSRP?????
I dont think I own anything including the shirt on my back that I paid "msrp' for.
Besides on most vehicles the manufacture is giving 3-10k in rebate 8 months out the year. I wont put a gun to anyones head and say sell me something for a loss, but I wont tollerate any bullshine either.
Dealerships are for profit and you job is to minimize how much they make off you. I would bring a friend that knows exactly how much you want to spend so that you do not get sucked in by being overwhelmed. I took my step daughter car shopping one day and we found an awesome car. The dealer would not meet our price or payment expectations. I got tired of talking and said I am out of here. We went o eat dinner and not 30 minutes after we left they called me and gave me what I wanted.
The moral is walk away if you have to don't become attached to a certain car. That is where someone who is not invested in the car buying process comes in handy. Plus I went to that dealer hungry so that I was grumpy and would not stay there as long as I would need to eat.
Also sometimes going at late hours or end of month they can get desperate to make sales and will work with you more. And research, research, research the car you want and how much they cost.
The moral is walk away if you have to don't become attached to a certain car. That is where someone who is not invested in the car buying process comes in handy. Plus I went to that dealer hungry so that I was grumpy and would not stay there as long as I would need to eat.
Also sometimes going at late hours or end of month they can get desperate to make sales and will work with you more. And research, research, research the car you want and how much they cost.
Thanks guys. Was just curious if the Nada is used and is a good guide to go on these days for a trade in. I'm looking at a used vehicle, not so much concerned with the purchase price. Didn't want to be unreasonable if my expectations were too high.
Gator 45/70
Well-Known Member
Pfft. If I had your money I'd pay cash!!!
Naa, Seriously man, Oilfield people are dumping trucks left and right as well as other toy's, Go in and poor mouth them, You may be surprised how low will they go!!!
WTH? Are you in the business? The OP is trying to learn a few things about the dealerships. Everyone realizes dealerships have to make a profit but they don't have to totally slaughter you either. I am in sales and one of the best lines I ever hear concerning sales is,
" you can shear a sheep many times but you can only gut it once."
Think about it
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If you can sell the car yourself ask the dealer if they will do a courtesy trade. This is when you bring the buyer with you and the dealership does the paperwork giving you the sales tax credit and maximum value for your trade vehicle. The usual fee charged by a dealer is $200 paperwork/transaction fee. Good Luck
They will start off using KBB, and they will drop one level lower than actual. I just traded in (Monday) a 2014 vehicle that had not a scratch on it and they started with "good" value then deducted $1500 for a windshield and tires. This was after negotiating the price of the new car first. KBB's definition would have put my vehicle in at least "very good" status. They will print you a KBB price and only include excellent, good, and fair. They omit the "very good" category alltogether. Then I left, and called another dealer. Told them I was ready to buy now, and if they wanted my business I requested their best price quoted on the phone. They came back with the same price on the new vehicle that I was getting already, so I felt comfortable. I went back, continued negotiating, and ended up getting an additional $1500 off the sticker and got my trade to within $500 of what I wanted. This was the last day of the month for them and they needed numbers (which is probably also a lie).
It depends on how bad they want to sell. My last two trades I got private party value. Good luck and give-em hell.
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