Black Book Trade-In Values
08-03-2012, 07:44 PM
#1
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Black Book Trade-In Values
Has anyone heard of this type of trade-in value used by the new car dealerships? I was quoted a ridiculous low value for my vehicle that the dealership claims is the new new true value estimator. I laughed all the way to my car with the salesman chasing after me screaming they may be able to do a little better with the price!
08-03-2012, 07:53 PM
#2
Yes, I ran into it at my local Caddy dealer when I bought my 2012 SRX. Lower than Kelly, Edmunds and NADA. had a tough fight with the dealer to get anywhere near what the other books said my car was worth. Caddy is using it on their website to calculate the value of your trade in. Maybe other GM makes as well.
Here is a link: http://www.cadillac.com/trade-in-appraisal.html
Phil
Here is a link: http://www.cadillac.com/trade-in-appraisal.html
Phil
08-03-2012, 08:04 PM
#3
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Around here, a lot of dealerships use the Black Book for giving you a trade value. It is usually much lower than you can find in other resources.
08-03-2012, 08:58 PM
#5
Drifting
Dealerships use it because prices favor them by thousands over the other "books".
Just another way for them to try to validate their offer.
Ask them to pull up some auction results and show them to you on the screen.
This is the actual wholesale value. If you have a nice car that they will retail, they should offer a couple grand more than wholesale which would be the traditional "trade in" value.
Just another way for them to try to validate their offer.
Ask them to pull up some auction results and show them to you on the screen.
This is the actual wholesale value. If you have a nice car that they will retail, they should offer a couple grand more than wholesale which would be the traditional "trade in" value.
08-03-2012, 09:46 PM
#6
Melting Slicks
I think all books are going to favor the dealer for the most part. Any book can't take into consideration every local market and every local economy every year. Still, they have to pay all their staff to run the joint from the girl at the counter to the kid washing the cars etc.
08-03-2012, 10:24 PM
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Of all the brands to play games with, dealers would be insane to lowball Vettes. They're the easiest car to sell privately. If you make the gap between trade in and retail, dealers will cut their own throats as folks will list their cars on autotrader or cars.com. I've sold cars privately and was amazed at how easy it was and how willing buyers are to give you your price if you set a reasonable price.
08-03-2012, 11:28 PM
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Recommend using Edmund's as your basis for trade value regardless of what the dealer says he uses. If the figures don't match with Edmund's. walk away. We've all been around the block once or twice. You've heard the dealer say that the trade is "actual cash value" only to find your car/truck/motorcycle on the lot for a price of the actual cash value plus $6000. And when you factor in the price you paid for the new vehicle/motorcycle that gave the dealer a $1K profit margin or more, you get angry. So once again, get all the figures: Trade value, dealer cost on the new vehicle, add a reasonable profit margin and go from there - either to buy or walk away.