Traded in my 2005 RX-8 with 31k miles. Got $14,500. That sucks.

For that much money, they didn't get my extra keys, and I took out and kept my tire inflation kit. I dunno, kinda felt good taking stuff out and not giving them everything I had since they gave me nothing for it.

Whatever.

I'm done, carry on.

 

You should research more next time and get an idea what kind of trade in you might get on car after say 2-4 years in case you don't like it.

 

What'd you get?

 

I'm keeping mine forever. Told the wife to bury me in it. Coolest coffin ever.

 

Yeah, that's why I decided to pay mine off due to the crappy resale.

 

Your choice. You could always have said no.

 

car dealers love raping people who don't know any better ...

 

So if you were unhappy with the dealers trade in price why did you still trade it in?

 

I have an 05 bought in 1/06 with 39k, dealer wanted 16k for trade in I wanted 19k, they said no, I walked... it's easy. KBB your car before you do anything.

 

that's about right for the rough book wholesale price. check the black book, that's what we use. As a costumer, you want about a nickel over clean book unless you got a clunker. or you want more discount on the new car. clean book is usually close to kbb trade in value for fair condition.

I've said it once, and I'll say it again, here's how you get the best car deal. Get the dealer to give you invoice on the new car. Then say, "you know what, i think i'll use a trade as down payment." And know the value. Don't take less. it's really very simple.

This will be good for you and the dealership. it'll just suck for the salesman. but here's a little known secret. the dealership couldn't give a **** about the salesmen.

 

If you want to maximize your return, you won't get it from a dealer via trade-in. Ever. Sell it yourself.

 

true, but you don't have to go through much of a hassle. You pay for convenience.

 

Boy, do you pay.

 

shoulda gone to carmax, they always pay top dollar.

 

^^ It's not always that bad.

^ not necessarily.

 

^ sold to them twice, both times well over kbb (one civic, one lexus). as long as their in good condition i guess. they profit on high interest rates, main buyers are poor credit consumers, so they're not as concerned about the sticker price like a dealer is.

 

interesting theory. But having to sell all of those cars over-value like that makes it nearly impossible for those with poor credit to get bought by a bank. SO how do they really stay in business?

 

hmm, interesting! i don't know, don't really know that much about them.

in all fairness, both cars were in good to excellent condition, under 12k per year, and both were less than $1000 over kbb (but about 2 g's over what the dealer was willing to offer for a trade)

bottom line, in my experience, having a trade-in with a dealer is never really a good idea, unless you just want the easy way out. do some research, ask carmax (estimates are free) or a place like that and at least go to the dealer with a negotiation point, an educated one (not just, 'uh, i want $xx for this) and you should be better off.

 

Well it's the dealer that I work at, and knew what it was worth...but the car I was buying was still too good a deal to pass up. My car was already paid off, and I didn't have time to sell it myself. But at least on trade I got the tax credit, saving me about $1000, so that would have been the same as selling it for $15500.

Anyway, I got a 2001 Mercedes CLK55 AMG. I know, almost the polar opposite of an RX-8...heavy, auto, etc...not really my cup of tea, but like I said it was too good a deal to pass up ($8k below kbb retail), so I'm going to sell it for more than I paid for it in about 6 months.

 

Ah. So a means to an end. Don't be upset then. You paid for expediency so you can make more money on the sale of the AMG. Sounds like you made a smart business decision.

 

Simply... CarMax is extremely well financed. It was started by the same group that started Circuit City. The have a wholly owned subsidiary, named interestingly enough CarMax Financial. They finance only cars sold at CarMax, and keep the entire protfolio. They make their own rules. Good Credit rates are typically 1% over buy rate at a localish bank, but they do mostly double digit rates. They also pay their entire sales staff didly. Finance Managers there are hourly employee's, not 6 Figure Hired Guns.


OH and I'm not even in the car business and I'm sick of this Raping Bullshit. It's a business, they make money, often among the lowest margins in teh entire sales sector... Don't like someone's prices, shop it. You have every right, it's a market economy.

What is BS is realtors getting 3% a side or so, mandated by the state, to do very little more work then a salesman selling a car. It may take longer, and come along less frequently, but the time invested isn't so different. How bout Best Buy and that big screen TV with more markup then a Mazda3 has at STICKER.
I think if people saw the books of dealerships sales departments they'd laugh. But then they'd cry as soon as they flipped the page to service....

 

trade in does not compute , give it to younger family member first

 

service: the secret assassin.

 

Trade in value on an RX8 (S2000, 350Z, Eclipse, take your pick) is usually lower because it's a limited buyer market to begin with. The RX8 resale value took a huge hit with the overproduction. I bought my 2005 as the 2006 models were coming out - paid $25,000 for a $33,000 car. Imagine what that did for someone trying to sell a 2004 with 12,000 miles on it.

One of my neighbors bought a 2004 with 12,000 miles on it about 6 months after I bought mine. Pretty similar in options, they bought it in the upper $17's. She traded it last summer with 24,000 miles for $16,000 & change. Granted she got a decent trade as well as a decent price on the Murano she replaced it with. The dealer put it on the lot for $18500 and it was gone within a week, but I have no idea what they really got. Considering they also had some 350Z's with $5000 higher price tags, they probably got a good price for it.

What really slammed the resale on the RX8 was the overproduction followed by deep discounts on new models. Too much supply for the demand.

 

Does anyone have a link to car max?? I have to get rid of a 05 Saab 9-2x still or warranty. dealer is giving me 12.5k on a trade in.... paid 14.5k 3 months ago.