Trade-in Strategy
Thread Starter
Senior Member
Joined: Dec 2014
Posts: 140
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If you're set on trading, there really is no strategy I'm aware of. It will complicate the purchase of the vehicle you're buying (if from that same dealership). They are going to give you what they are going to give you and if you are too interested in the price of the trade, they may give you more only to take it away from the discount on the new truck.
Also why would they want the truck out of their service department? I believe they are getting compensated by FMC for fixing it. Maybe someone else will have more of a strategy, but it's kinda like asking what's the best way to die...some ways are quicker and less painful, but in the end you're still dead. The best deal is to avoid trading all together.
Also why would they want the truck out of their service department? I believe they are getting compensated by FMC for fixing it. Maybe someone else will have more of a strategy, but it's kinda like asking what's the best way to die...some ways are quicker and less painful, but in the end you're still dead. The best deal is to avoid trading all together.
Senior Member
Joined: Aug 2017
Posts: 282
Likes: 97
Why would you not just private sell it? I've traded in a car once in my life and that was enough to know I'll never do it again. You know the reasons why it's not a good idea - you are going to get hosed no matter what, you will get more from a private sale. I look at the ability to trade as something that is quick and easy, but by being quick and easy you pay dearly.
Looking back to my trade, I had a 2004 accord with 11k miles on it. Traded on a tundra. Dealer offered me 16,700 for it. I begged to get it up to 19,900 knowing they would sell it for 20,500. They gave me my 19,900, barely budged on the tundra price and put my car on the lot for 20,500 after two days. Trading is easy and fast because it's horrible financially. Wanted to respond because I'm closing in on a deal for a 2018 Lariat and I have a vehicle I have to do something with. In two days that vehicle will be on craigslist after visiting carmax.
Looking back to my trade, I had a 2004 accord with 11k miles on it. Traded on a tundra. Dealer offered me 16,700 for it. I begged to get it up to 19,900 knowing they would sell it for 20,500. They gave me my 19,900, barely budged on the tundra price and put my car on the lot for 20,500 after two days. Trading is easy and fast because it's horrible financially. Wanted to respond because I'm closing in on a deal for a 2018 Lariat and I have a vehicle I have to do something with. In two days that vehicle will be on craigslist after visiting carmax.
My only experience at CarMax was an offer 60% lower than what I got on trade at the dealer, so keep that in mind when they quote you.
Member
Joined: Aug 2015
Posts: 86
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From: North Carolina
He said the truck has a bunch of problems. The only vehicle I ever traded in had issues that I would not have been able to hide from a private buyer in good conscience. To me, it's the easiest way to be rid of a troublesome vehicle. For something like your 11k mile Accord, it makes sense to sell it on your own.
My only experience at CarMax was an offer 60% lower than what I got on trade at the dealer, so keep that in mind when they quote you.
My only experience at CarMax was an offer 60% lower than what I got on trade at the dealer, so keep that in mind when they quote you.
Thread Starter
Senior Member
Joined: Dec 2014
Posts: 140
Likes: 26
He said the truck has a bunch of problems. The only vehicle I ever traded in had issues that I would not have been able to hide from a private buyer in good conscience. To me, it's the easiest way to be rid of a troublesome vehicle. For something like your 11k mile Accord, it makes sense to sell it on your own.
My only experience at CarMax was an offer 60% lower than what I got on trade at the dealer, so keep that in mind when they quote you.
My only experience at CarMax was an offer 60% lower than what I got on trade at the dealer, so keep that in mind when they quote you.
Last edited by moseinsocks; Jun 27, 2018 at 09:13 AM.
Senior Member
Joined: Apr 2016
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From: Greater Seattle Area
It depends on where you live. In Washington, sales tax is 10% so a $30,000 trade-in saves an additional $3000 in sales tax off the new vehicle. For the OP, if the truck is in good condition then CarMax is a good option to learn the wholesale value.
Senior Member
Joined: Aug 2016
Posts: 147
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You should always negotiate the sale of the new truck first (dont tell them about the trade in). Then when you are ready, tell them you have a trade. Negotiate that hard as you can because now you are the salesman.
Junior Member
Joined: May 2018
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Here's a great video on the trade in game. The best question you can ask is "What is the amount you're willing to write a check for it right now?"
<iframe width="560" height="315" src="https://www.youtube.com/embed/kU0I3Zkz1Z0" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>
<iframe width="560" height="315" src="https://www.youtube.com/embed/kU0I3Zkz1Z0" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>
Last edited by buzzk1ll; Jun 27, 2018 at 11:02 AM.
Senior Member
Joined: Dec 2013
Posts: 14,975
Likes: 6,035
From: SE Michigan
Never mention trade until the deal is done.
I just ordered a new car. He offered me $5,500 for my old car, which was in line with NADA Black Book. I sold my car 8 days later for $8,500.
Thread Starter
Senior Member
Joined: Dec 2014
Posts: 140
Likes: 26
good advice. I’ve gone about it all backwards, since I wasn’t really looking for a new truck. My approach, with the guy that sold the truck to me last year, was more like, “hey, what could you do on my truck that would get me to turn around and purchase a new truck from you?”