NoRemorse

Not sure where to post this question, so mods please move to wherever it really belongs...

I will be moving in a while, and I will likely be giving up my TL (A very, very sad day). I have contimplated selling it in the past, and have always decided to keep my TL because it is a fantastic car. Unfortunately, the events in my life have changed and my vehicle needs as well. Specifically, I need something with significantly more storage room for a variety of reasons...

You always hear people trading up (In terms of dollar value) in vehicles, i.e. TL to new BMW, Infinity, Lexus etc... how does it work when you trade down? i.e. Going from a car worth close to 40K (CDN) to something half that? Do they just cut you a check for the difference? This may be a stupid question, but I really am not sure...

Thanx for the help.

levyfresh

Not sure about cars but I think it works pretty much the same...As a boat dealer we deal in boats from the 10 million range down to the 5 grand range...It is not impossible but also not to our advantage to take a boat in trade that is less then(especially half) the value of the new boat...Because of floor planning and interest issues it just isnt feasible if you want to make profit in the long run...have we taken in boats that are worth more then the new boat? Yes, but not when there is a large market difference....Then again the value, price and depreciation of boats is ten-fold what it is for cars so who knows...sorry i cant help more

vp911

I don't know how that would work - but if it becomes a problem, why not sell on the private market?

dman918

Perfectly fine question. Assuming the TL is paid off, then the dealership will just cut you a check for the difference between it and the new car. Some dealerships will give you less of a trade for the car because of this though (though they will deny that is the case).
What are you going to get in its place?

Ron A

This is a good place for your question. You could also post in our Car Talk Forum.

And if anyone is interested it is also listed for sale in the Black Market Forum.

mickey3c

My experience is you get more money for your trade when trading up to a more expensive vehicle. In the end, the product you are trading in is worth what it is worth. They want to make their profit. The best you can do is get as much information about trade values as you can. And of course, they will tell you that edmunds, blue book, etc., values them too high.

pettydw

I moved overseas once and sold two nearly new cars to dealers. I had personally detailed both cars inside, outside, and the engine compartment. I got trade-in value for one car and near used car retail value for the other. I sold the cars to two different dealerships. I may have done better with the first car by shopping around more (like I did with the second), but my company reimbursed me for the difference with retail price anyway. Both dealers cut a checks on the spot. Both dealers mentioned the cars were near perfect and they were putting them out for sale without sending them through their own detailing, so I think that was an important selling feature.

PS: I use S100 motorcycle cleaner diluted 50% with water and hand sprayed into the engine compartment. This stuff costs $12/liter, but it is worth it. It cleans amost as good as Gunk, is biodegradeable, won't take off wax, or harm plastics. Just spray on lightly and hose off after soaking a couple of minutes. A liter lasts me a about a year on two cars and two bikes.

NoRemorse

This is still a matter of some debate. I have been researching Light Trucks and SUVs for a while now and still have a decision to make. This will be the third new vehicle in 4 years that I will be buying, and the depreciation hit is getting a little old. So I am really going to have to think this through before I buy anything.

I am currently looking at the new 2007 Ford Explorer Sport Trac, but that will not be available for another year. I am really have to nail down what my needs are and go from there... something that I still need to figure out...

Does anyone have any recommendations on a good all-purpose vehicle /w 4 wheel drive and storage/towning capacity???

ndx2

Ridgeline?

I think that's what I'd get if I had to.

ndabunka

NoRemorse - Unfortunately, car dealers are in the business to take your money and little else. I HAVE gone from a more expensive car to a cheaper one. This TL in fact was that move. At the time I had a near-mint CLK55 (high performance Benz) which originally reatiled for $79,500. When I went to buy this TL (November of 04), the dealer originally "verbally" told me that they would give me $42,100 for it. At the time, that was between wholesale and private party so I thought it made sense. However, when the time came for them to "write it down on paper", the trade suddenly (somehow) became $38,000 (maybe). Of course I stpped the process and politely told them that they needed to honor the original deal. Of course, they woudln't (saying the person who offered it to me had been fired). In the end, I tied up the car for three weeks while I sold it to a private party for a little over $40K. Bottom line is don't even bothering to trade in a vehicle. Take it to carmax and see what they will give you for it. If your coll with that figure, they will write you a check right there. There is no negotiating in that type of transaction like you would if it was a private buyer but it does get you out of your current car at the going market wholesale prices (as good as your going to get from ANY dealer). The fact is that NO dealer really WANTS any additional used cars, they simply add to their inventory and drive up your buying costs.

Russdaddy

Nine outta ten times you will get screwed by the dealer if you trade a car in. That's the price that you pay for being able sell your car right there and then.

NoRemorse

I like the Acura/Honda product, but I have to say I do not like the styling of the Rigeline... may still check it out when I am at the dealer the next time, but not sure if it is really my style. Then again, I am trying to go for function over form, so perhaps I shouldn't worry to much about how it looks, but more how it drives... Why does this have to be such a pain???

mojo risin

If it was me and it is, I would get a 4 door Tacoma.

WdnUlik2no

agree, I highly doubt the dealer would give you the same price had you been trading up. The dealer rips people off on trade-ins to begin with and the fact that you are trading down will probably cause them to give you even less for it. The TL is a pretty hot car right now, you should have no problems selling it in the private market, and you'd get more money for it as well.

jdb8805

I agree. If you trade up, it gives them a chance to make money on both ends (the sale of new car, and the sale of your used car)

If you trade down, they have to make all the money on one end (sale of your used car) and they have to wait to get the money.

NoRemorse

I am going to attempt to sell my TL privately first. I am curious about the trade info because if it takes too long to move the TL privately, I may have to consider it. I know that I will be by the dealer. When I sold my Mustang, the dealer offered me 18K, sold it for 24K privately... so I am going to try and avoid it if possible, but I have to move it in the next month or so... hopefully it all works out.

Deenice21

i think Carmax gives fair prices on the sale of your car (a little above trade in value)

but if your in canada. idk? Do they have a car max in NY?

NoRemorse

We don't have a Carmax, but our equivelent is CarCanada... I could always go see what they'd offer... I have a feeling I'd still be . But worst case, it may be the next best option.

vdubgruven

I've had personal experience with this exact scenario. I traded a 2003 BMW M3 SMG on my '04 TL auto navi A-Spec. While I was very sad to let go of my M3, the TL has much more toys and relatively good performance for a FWD car. The great thing is that you won't pay any taxes if the car you are trading is worth more than the car you are buying. In addition, the dealer will cut you a check for the difference if the value of your trade is over the value of the car you are buying. Make sure you don't bring up the tax savings to the sales person as they may or may not know.

I spent 4 hours negotiating with the Sales Manager to get top dollar for my trade (it only had 3k miles on it). In the end I got a great deal on my trade but ended up paying only a little less than MSRP for my TL.

All in all, I was happy with the deal, but that doesn't make me miss the U-Turn and high speed drifting capabilities of my M.

vp911

Can you just walk in carmax and sell your car? Or do you have to buy another one from them as well?

chill_dog

Just walk in and sell your car. I did that with my old one (dad did it when he got rid of their extra car and recommended it to me). Process was easy and hassle free...walk in, fill out some paperwork, wait for inspection, get offer (good for 30 days or 3,000 miles or so)...if you take it, you go to a counter and they cut you a check right then and there. I also thought their offer was very fair, and it was MUCH better than the dealer's. Yes, I could've gotten more with a private sale, but the hassle wasn't worth the couple of extra bucks to me.

WdnUlik2no

In my area CarMax seems to offer the same prices as other dealers. My 04 Maxima they offered me 22.600 for it. I sold it privately for 24,500. But I guess it depends on the market for car as well.

But you are right though Carmax is one of the few dealers that allow you to sell your car to them without buying one of theirs. If you want a quick way out of your car Carmax is the way to go.

ndabunka

CarMax is best for "high demand" and generally in-expensive cars. You can usually get pretty good $'s out of the Camerys, Maxima's, taurus, buick, explorer, etc. Usually within $1,000 to $1,500 of a private party transaction. Kinda surprised they only offered you $22.6 on your max but maybe they were over-allocated at the time. They are the WORST on low demand specialty cars. Ever seen a late model porsche or AMG Benz at a CarMax? You can get a better deal with those cars by selling them back to the particular dealership you bought them for if your car is low milalge and in good condition.