The trade in value on my "Clean" 2005 Prius with 60,000 miles on it is:

Edmund's 16,807
NADA 18,075
Kelly BB 11,845

I was offered 13,000 and tried to hold out for 14,000 with only Edmund's trade-in value in mind but then tonight I saw the Kelly BB value and now I'm really confused. . I got 1,367 off MSRP on a 50th Anniversary model. Maybe the deal they offered isn't so bad after all.
What to do - What to do.
Brian

 

This is easy for me, making my purchase only a few weeks ago. My trade was a 2006 Ford Five Hundred SEL with leather seats and traction control. The car only had 20,000 miles on it.

Current Trade Value, excellent condition:

Edmunds - $16988

KBB - $15975

NADA - $15325

The sales manager said my car was one of the cleanest he ever seen for a trade. He did some checking and found my trade was a very popular rent car. He said the car auctions get 20 of them a day.

I opened with $400 over invoice for the new THC. He said he could do that. Then I knew the battle was on for my trade. At least this way I can see whats going on. I made a offer of $12,400 for my car. I was upset as such a offer for my nice car. I got him to move up to $12,800. He would not budge at $12,900. That was his take it or leave it, final price. I paused, looked at my wife in the next chair and said, get your stuff, were leaving. It sure got quiet in there with the saleslady intently looking on. The manager quickly said, ok I will go $13,000, is it a deal. I agreed.

I have a feeling I could have got more if we had went home and slept on the trade. I now one couple that went back three times to get there agreed price.

I go in to deal with the manager. Then they put me with a rookie sales person. About five minutes later they put me back with the manger. My wife thinks I should do like everybody else and buy from the lowest priced dealer quote, including the trade. Sounds good but I don't want them making any $3000 on the deal.

I sure will be glad when I can convince my wife about the loss on not selling my used car myself. I think after this and the low trade on the 2003 Corolla she now understands.

I did read that most go to the dealer with the highest trade value they could find on the internet. I guess the average of $15,650 would have been a more correct price on my trade. I did get upset with the manager. I told him he was dealing with the cheaper 500 model. This was the SEL with leather. He then started coming up on the trade price.

I would not have bought the 500 but it was a really nice full size car. The price was down near $21,500 and that was hard to resist. Ford at the time was including the leather for free and the price included a $1000 off. Now everything seems to point to high gas mileage.

 

Remember the sales tax is less when you trade in. I sorta keep that figure in the back of my head when dealing a car.

Roy

 

That's not true in Virginia. The sales tax is calculated on the purchase price, not the net price after trade-in.

 

Thats my wife's idea to keep trading. I was lucky being a resident in new mexico, there is no sales tax on hybrids. The fine print on that may say they must get over 30 mpg combined. My wife read it, so I may not have it correct word for word.

 

Same is true in Michigan, and it really pisses me off! We bought my wife's Honda in Chicago, and they started writing up our deal assuming that tax was based on the difference in price between new car and trade in. I had to stop him, since they didn't realize Michigan didn't do it this way. He commented that this sucked for Michiganders, and I had to concur!!