Is 29000$ a good amount for trade in on a 02 vert with 10500 miles?
03-16-2008, 11:57 PM
#24
Instructor
Member Since: Nov 2007
Location: Spring TX
Posts: 122
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I think I read a website once about car dealerships and salesmen tactics. There's something called a 4-square grid.
In those 4 squares, there's:
-Trade-in value
-Cost of new car
-Financing %
-(i forgot the fourth one)
And what they do, is that they'll strech how great of a deal you get on certain parts of the grid, that you won't really notice that another part isn't so good.
i.e. Great discount on new car, low financing, but poor trade-in value. Or, great trade-in value, huge discount on new car, high financing. Etc, etc etc...
In those 4 squares, there's:
-Trade-in value
-Cost of new car
-Financing %
-(i forgot the fourth one)
And what they do, is that they'll strech how great of a deal you get on certain parts of the grid, that you won't really notice that another part isn't so good.
i.e. Great discount on new car, low financing, but poor trade-in value. Or, great trade-in value, huge discount on new car, high financing. Etc, etc etc...
It's SELLING PRICE, TRADE, CASH INVESTMENT, PAYMENTS.
The 4 square is old school car dealing....
What matters most is you made it simple...Your car value and their car price.
I think you did great! If you are in Texas you also recieve Tax credits for your trade value adding 6.25% to your trade.
Congrats on the new car!!!!!!!
03-17-2008, 12:18 AM
#25
Le Mans Master
Have someone go to the Dealership and ask to buy your trade in and see what they will take? If they really gave you $29k then they will be asking more. If they say they shopped it out to another dealer, you can bet another dealer did not pay them that much.