People that trade in their cars - Page 2

Dec 4, 2006 | 11:17 AM

#26

saturn

i pwn therefore i am

Joined: Jan 2006

Posts: 2,332

Likes: 3

From: Delaware, USA

I have traded in twice -- once when buying a new car and once when buying a used car. Both times I got above blue book value. I really don't understand the bias against trade-ins, but maybe I've just been lucky and had some desperate dealers or something.

Selling privately has all sorts of caveats as others have mentioned. Keeping it forever means you have to insure it. I only need one car and trade-ins seem like the best way to go.

Dec 4, 2006 | 12:59 PM

#27

spork

Thread Starter

Foolio

Joined: Sep 2004

Posts: 501

Likes: 0

From: So Cal

i'm actually wondering more about people that trade in relatively new cars though.

i understand trading in an older car. but i mean people that buy a car, then trade it in with in 1-2 years.

eh i'm pretty much resigned to keeping my ms6 until i see a great deal or until the MS8 comes out.

i just was hoping... demand for the rx-8 was low too so i was thinking maybe i could take a minor hit but doesn't seem that way. sigh. i'm getting to like the ms6 for it's strengths but it doesn't make me love it like i loved my 8.

Dec 4, 2006 | 01:15 PM

#28

ZoomZoomH

Mulligan User

iTrader: (1)

Joined: Jan 2003

Posts: 4,612

Likes: 3

From: caddyshack

just FYI, dealers usually don't use 'blue book' values for trade-in, instead they use 'wholesale' prices (prices they'd get at an auction) to appraise trade-ins

Dec 4, 2006 | 01:19 PM

#29

ZoomZoomH

Mulligan User

iTrader: (1)

Joined: Jan 2003

Posts: 4,612

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From: caddyshack

and personally i'm a believer in selling the car privately and then buy separately. sold both my previous mazdas (a Protege and a FC RX-7) privately, but it was easy, cashier-check-in-hand transactions because both were paid off and i had the title.

which basically means i'm not planning to move the 8 (not that i am at all) at least until the car's paid off. much MUCH easier transaction when you have that title in hand if you do private sale.

Dec 4, 2006 | 02:00 PM

#30

DARKMAZ8

"Call me Darkman"

Joined: Aug 2004

Posts: 2,034

Likes: 0

From: Toronto/Florida

Quote:

Originally Posted by rglbegl

I see at least 5 of these a day. I will tell you that you will get WAY more selling it yourself. A dealership has to make sure it can make a profit on your car. That meens getting it WAY below blue book just in case they have to da any repairs.(even if your car is PERFECT, they will still hit you low) and of course they want to make as much $$$ as they can, so they hit you even lower. ALSO, Most salesmen get paid on the difference of what your car is worth and what you will take. Example; The dealership will buy your car for $20,000 and the salesman convinces you to trade it in for $17,000 . . . . .That is another $3000 in the deal that he gets commission on. So the dealership is trying to make money on you, and the salesman is trying to make money on you . . . . blah blah blah

And jedi is right. Buying a car and trying to get out of it too quickly will always hurt you. The car loses a full year of depreciation on the first day. You can never get back taxes and licensing, but if you sell it yourself, you will get a lot more than trading it in.

you might get more but trying to sell a used mazda is not an easy task. It's a no win situation either way. Getting what you want, when you want it is worth more then a few k and the waiting that goes with it.

I say trade it in for what you want and be happy. Money is ment to be spent anyways.