pansuria

Are people getting KBB value for their trade ins?

The KBB trade in value for my 99 VW Passat 1.8T GLS Sedan w/ Moonroof, Alloy Wheels, and CD-Changer with 37,000 miles is $11,750.

Every dealer I talk to says that's too high, they're willing to give me $10,000 - $10,500 only.

Are they trying to rip me off? Or is the used car market just crappy now, resulting in lower prices?

shaf

Well, the KBB value should already reflect the changes in the used car market, so that shouldn't be an excuse.

I would try to sell it privately instead of taking the lower trade. Taking the 10k offer is essentially adding 1,750 to the price of the new car. Now if you try to sell it privately and have no success, then it's possible that the kbb is too high and needs adjustment.

wiz

I actually got over KBB value for my trade-in. This is for the "Average" car, not pristine as my car was probably below average with all the miles and dings it had on it. I was thinking they were going to give me around 3k for my car, but they gave me 5450 for it. 1999 Pontiac Grand Prix GT 2 dr Coupe with 81k miles on it.

mcourt83

According to kellybluebook.com, my trade was worth $7175 (a 2000 Toyota Solara with 81,000 miles and in "good" condition). I got $7000 and paid $500 under MSRP for the car.

jcg878

I was able to get above "Good" trade-in value for KBB, but it was still below the private party KBB value and edmunds.com trade-in value. I had some success going between dealers for different trade-in offers, but this was at the 'sit down and talk money' stage. You'll probably do better selling it yourself no matter what.. though it is a pain. Do these dealers sell the traded-in used cars themselves?? If you have a hard time getting a firm number from them, you could use a used car retailer's estimate like CarMax or maybe a VW dealer and ask them to beat that.

How unbiased is KBB anyway?? Why do their values for used cars significantly undervalue compared to edmunds.com (subject to its own biases, of course)??

calbear2k1

I printed out the NADA trade in value on my 96 integra and brought it to the dealership. The NADA trade value was 1400 more than the Blue book trade for an excellent car (5800 vs 7200). In fact the NADA trade in value was about the same as the KBB private party value. I don't know what gives there, but it definately helped have the NADA price in hand. I do not know if it helped me get a 'killer' deal, but it made the process much easier. The used car market seems to be soft due to all the new car incentives, so I took 6600 for my car - it had a scratch that was estimated as a 500 repair but was mechanically perfect. If there were more TSX's on the lot anywhere in my state, I would have tried selling myself, then just buy a TSX on the lot, but I did not have that luxury.

vitocorleone

As far as I know (which may not be far), KBB is made for dealers. You do NOT want to go by it - use NADA and Edmunds and other sources.

MotownTSX

NADA is VERY HIGH. Edmunds, with the right zip code plugged in, is ther best all-around estimate. It was a couple hundred off of what I received.

Also, do NOT mark your auto as "excellent condition." It's not. It is "good." "Excellents" is auto-show condition. 99.9% of autos are not this.

Right now, the used market is gluttoned with autos. This is due to all of the incentives and tons of autos bought, especially after 9/11. Plus, with all of the good rates and deals now as well, no one wants to buy used. Tough climate.

Private party will get you more money, but it is more of a obvious hassle.

LeeLee

I was going to trade in my '92 Accord EX on the purchase of a TSX. The dealer actually offered me $2000 for it, fairly close to the trade-in value. This is with a $1200 off the MSRP of the TSX.

Bear Trap

I keep my cars in excellent condition, but no dealer wants to give you the KBB price for excellent condition. They all will only quote you good condition at best. When they say they are giving you book, ask them how they rate your car. If your car is really in excellent condition, use it as a bargaining tool to make them to give you what it is really worth.