Hey everyone,
I am going to pick up my TL in about a month.
My question is, what should I do to ensure that I am getting fair value for my trade-in.

I currently have a '99 Mitsubishi Galant with Leather and Moonroof in pretty good condition.
It is paid off already. Should I trade it in and hope the dealer gives me a good price for it or should I sell it indepedently?

Also, what have your experiences with trade ins been like?

Thanks in advance

 

Check Kelly Blue book prices (edmunds.com). If you have a carmax in your area go there first and get a quote. They will typically give you a decent price (I got $1,100 over Bluebook for my 1999 Maxima). Dealers typically don't beat Carmax.

 

Wow, ok cool... Thats what I was hoping to hear

Thanks

 

Generally speaking you'll always be able to sell your car for more then a dealer is going to give you in trade.

Use kbb.com, edmunds.com and check you local paper to get an idea on price. I agree with ibeplato, I've also had good luck with Carmax and even if you don't sell them your car it will help to establish a price.

The important thing to remember if you do trade in is it's two separate deals (how much you get for your trade and the price for the TL) that equals one overall deal. In other words, if dealer A gives you $1500 off MSRP and $7000 for your trade while dealer B gives you $1000 off MSRP and $9,500 for your trade, dealer B is the better deal even though the MSRP is more.

When I bought an MDX last year the dealer would only give me $1500 off MSRP but they gave $3000 more on my trade then the other 3 dealers I was negotiating with which made it far and away the best deal.

Good Luck!

 

When I bought my car, I got a good low price quote from Dealer A, but they were giving me 2K less than I expected for my trade in. Called up Dealer B far away (90 miles) and told them of situation and written price quote I received from Dealer A, and details about my old car. He guaranteed the other 2K over the phonw, and actually gave me 500 more when I got there. Best tips are to negotiate trade in and new car seperate, and pit dealers against eachother, make em work! :shit:

 

dont tell them you have a trade and negotiate your best price as if your paying cash, them finally tell them you want them to evaluate your trade.. comparew it to carmax and other homework to see if its reasonable.. Do some homework!.

 

Though I don't think it will be enought to swing your decision, in many states you only pay sales tax on the net cost of the deal (purchase price less trade in). Also, while I would expect that the price you could get would increase as you go from Dealer Trade-In to Carmax to private party sale, so will the potential hassle factor of the transaction. The trade off between Carmax and dealer would probably be small, but when trying to sell a vehicle privately the transaction can be a royal PITA...test drives, bogus checks, after sale complaints, etc.

 

One word: CarMax

 

Like everybody else said dont tell them you have a trade negotiate with out it. If you tell them you have one your hosed. They can make it look like your getting the car for 2k off and there giving you 3k over book value and you still end up out there door paying 35k for the TL. The best thing to do is try to sell it outright if you dont have the time Carmax is a good fast deal. 3rd trade it in.

 

Thanks guys