Opinion on Trade-In Value
#21
Member
Thread Starter
The dealer is screwing you on the trade and on the price of the Lincoln. Find another dealer.
What you paid for the truck new has absolutely no bearing on what your truck is worth for trade or private party sale. They are selling you a line and seeing if you'll bite, hoping to give you $25k, put it on their lot for $35k, and sell it for $34k. They will not take your truck to auction, so YOUR starting point for negotiation is your best guess (using sites like True Care or Edmunds) they will put it on their lot for minus any reconditioning that is required. They want to make an easy $8-10k by getting you to bite at what they tell you auction price is (and you have almost no way to know if they are lying or not).
All dealers will tell you that they look at auction prices to determine the "real value." They do that because they want you to make the deal for the lowest possible valuation. I have found that Edmunds gives values pretty close to what is realistic for trades.
Seems like a shady dealer. I would find another one. Or just keep the truck if you like it and it has been good to you.
What you paid for the truck new has absolutely no bearing on what your truck is worth for trade or private party sale. They are selling you a line and seeing if you'll bite, hoping to give you $25k, put it on their lot for $35k, and sell it for $34k. They will not take your truck to auction, so YOUR starting point for negotiation is your best guess (using sites like True Care or Edmunds) they will put it on their lot for minus any reconditioning that is required. They want to make an easy $8-10k by getting you to bite at what they tell you auction price is (and you have almost no way to know if they are lying or not).
All dealers will tell you that they look at auction prices to determine the "real value." They do that because they want you to make the deal for the lowest possible valuation. I have found that Edmunds gives values pretty close to what is realistic for trades.
Seems like a shady dealer. I would find another one. Or just keep the truck if you like it and it has been good to you.
#22
You will lose at least $3k trading in(at least). More like $5k to $8k. Check Craigslist and see what similar F150s are going for in cities around you. I will never "give" a dealer my trade. I have sold my last 8 cars/trucks on Craigslist. Don't waste your time with ebay. If you feel you have to trade it in, take it to different places and go back to the original one and tell them "I have it narrowed down between 3 places". Bringing competition into the equation always brings prices down. It shouldn't be this hard, but they are paid crooks(I was in the business for over a decade, so no flaming).
#23
You're gonna take a hit on any one year old vehicle that you're trying to sell. Question is will the dealer work with you to make the sale, ie, offset the loss by either giving you a deal on the Lincoln, or your trade in? Doesn't sound like it...
When I trade a vehicle in with a new car, I always try to make the negotiations as two separate deals--first the cost of the new car, then the trade in. If not happy with either, I'm walking and wasn't meant to be...
When I trade a vehicle in with a new car, I always try to make the negotiations as two separate deals--first the cost of the new car, then the trade in. If not happy with either, I'm walking and wasn't meant to be...
Last edited by Miragein; 01-23-2019 at 03:07 PM.
#24
Senior Member
The dealer was playing you, trying to make a big profit for them.
What you bought the truck for means nothing, nor does the original MSRP. The only thing that matters today is what the truck can resale for, and odds are low- mid 30s are what it would sell for on the dealer lot. So around 30 is probably what you could expect on the high end (they won;t need to do a lot of reconditioning on a truck this new).
Always, always negotiate the two sides separate - get the OTD price on the purchase vehicle, with no trade in first. Negotiate that to a deal, then introduce the trade - then you can see if they are trying to play the numbers game on the trade in.
And always, always be ready to walk.
What you bought the truck for means nothing, nor does the original MSRP. The only thing that matters today is what the truck can resale for, and odds are low- mid 30s are what it would sell for on the dealer lot. So around 30 is probably what you could expect on the high end (they won;t need to do a lot of reconditioning on a truck this new).
Always, always negotiate the two sides separate - get the OTD price on the purchase vehicle, with no trade in first. Negotiate that to a deal, then introduce the trade - then you can see if they are trying to play the numbers game on the trade in.
And always, always be ready to walk.
The following users liked this post:
SCrewYou (01-23-2019)
#25
This is what the market is telling the OP. Dealers will continue lowering their trade in values because people will take it. They'd rather pay thousands of dollars than deal with it
I have sold dozens of vehicles privately and never had an issue. It's enjoyable seeing how much money I can get for something.
I have sold dozens of vehicles privately and never had an issue. It's enjoyable seeing how much money I can get for something.
#26
Large Member
#27
Look at the used trucks on their lot and use that as leverage. With 9,000 miles the dealer will be selling for $41,000. Just because you got them down to $38,000 does not mean most people do.
#28
Senior Member
Traded in my 2013 XLT with 27km in exceptional condition for the $23k average that Edmunds, KBB, and NADA worked out to be. Though a variety of things can influence what a dship gives you in trade, the offer you received seems way low.
#29
Senior Member
I have never accept the argument that KBB trade-in value is too high. The dealer's who try to pull this crap are the same ones who post the KBB excellent retail sticker on their used vehicles. For what it is worth, I always negotiate the price of the new vehicle first using multiple pricing sources, AutoTrader, internet sales department, military buyer programs, TrueCar, X Plan (rarely a good deal), etc. I have never accepted less than KBB good trade-in on a vehicle, but I arrive with a clean vehicle, below average miles in above average condition. The trade value is checked against CarMax and a few of those submit pictures, history and buy online websites. A 7 day written offer from CarMax has pushed the button of more than one dealer on a trade.
With all of that said, an XLT takes a BIG hit on resale value due to the ridiculous rebates that have been offered over the past few years, especially the 2.7L and early 3.5L Ecoboost. A $30,000 trade in Washington saves $3000 in sales tax on a new vehicle purchase.
With all of that said, an XLT takes a BIG hit on resale value due to the ridiculous rebates that have been offered over the past few years, especially the 2.7L and early 3.5L Ecoboost. A $30,000 trade in Washington saves $3000 in sales tax on a new vehicle purchase.
Last edited by GMC to Ford; 01-23-2019 at 10:47 PM.
The following users liked this post:
bstar1952 (01-24-2019)