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Discussion Starter #1
I'm a little confused on this... before heading to my dealer today, I checked out a few sites to get some approximate values for my VW Jetta 2001 GLX with 68000 miles in *great* condition... interior's awesome and exterior just has a single dent and a few surface scratches...

http://www.kbb.com - indicated value of $9300
http://www.edmunds.com - indicated value of $10500

I went to my dealer and they told me that they could give me $7000 as that's what their site was telling them (http://www.nada.org) - he told me this. He also told me that those websites aren't terribly accurate... but then I found out the following:

When I got home, I checked out this site and configured my Jetta - it yielded a trade value of $13325!!! I did this under the "Consumer" selection - this wouldn't make a difference, right?

Am I getting hosed here? What could be going on?
 

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Discussion Starter #3
Thanks! Any thoughts on the trade value? I'm basically wondering if I'm doing something wrong in where I'm searching on that site?
 

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I have a friend who used to own a 2002 VW Jetta GLS and he paid about $25k brand new. Last year he traded it in for a 2004 Pontiac Vibe.....the Jetta had about 18k miles on it and his trade in value was $14,500. I am thinking your Jetta's value will be in the $7k-$10k range, yeah a big gap in price, but thats what I've seen from dealers, though they refer to things like the blue book, but they also look at overall condition and mileage and set a price of the vehicle. Also, dealers often quote different trade in prices and sell them at higher or lower prices.
 

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I'm pretty sure the dealership's goal is to hose you in your trade-in, they'll purposefully give you a low low price and its your job to try to get them to give you more for it
 

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I would actually take the car to a couple of dealerships (if you have any more acura dealers close by). Maybe the dealer is leaving some bargining room with the trade in value, that way he could make you feel good for getting the car payments less. I know that is what the dealership did for me as they originally wanted to much in car payments.

Maybe Larch or Joker, or some of the others will have better ideas as to why.

The trade in value of a car is really based on a couple of things

1. shape of the car
2. extranious stuff like intrest rates (ex: used car glut do to low intrest rates) this would drive the trade in value down..
 

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JT2k4TSX
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Hey man................I just got done doing this with a local Acura dealership here when I traded in my integra gsr for my tsx that I own now. First thing................the dealership is going to talk you down to whatever they want. You need to set a base price as far as what you think is fair for the vehicle. In my case I had an 00 GSR with 118k miles and retail value was like $10,500 and trade in was $8900. They wanted to give me $6k for the car...but I said hell no and finally we agreed upon $8k. I of course took a hit losing money....but I am didnt let them rape me for what the GSR was worth. You have to be firm in what you think the car is worth...b/c they will give you what you want for your car since...they have the car on their lot they want off of to sale to you. Buying and trading cars is just a psychological game. Hope it all works out for you man! Keep us updated.
 

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Is your car really in "great" condition? Are the tires new? Did you clean car before taking it in? Stupid stuff will lower the cars category. I tried to trade in my truck for $11000 which was the "good condition" price but I had about 35k miles on stock tires and it was dirty so they dropped the truck to the "fair condition" because it would cost them money to buy new tires and clean it up. They offered me $9000 for it because of those 2 small things so I walked. Make sure your realistic about the cars condition but also never settle. They will keep moving the price up until you finally agree if they really wanna sell the car. The reason they lower the trade is because thats money they get upfront, right away. So they always try and get their money.
 

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Discussion Starter #9 (Edited)
Yes... the car is in great condition... there is nothing wrong with the interior (that would lower the price by that much!!)... I just replace the tires last year (about 18k on them now)

I guess my issue is that every website is saying something different... so which one is "right"? I told them about kbb and they said well, we don't really go by that cause it's the trade-in against MSRP...

You know... I hate this... I hate buying cars SO much... I hate the BS crap where they lie to you... it is so incredibly unnecessary...

Time to call the dealer and have a little "chat"...
 

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The Voice of Reason
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jsurpless said:
Am I getting hosed here? What could be going on?
The actual auction prices are listed in something called the "Black Book", which is unavailable to consumers. As a trade-in, the car is worth less than "Black Book" to a dealer because there are costs involved on his part in getting the car to the auction and selling it.

Whatever NADA, Edmunds and KBB may say, they do NOT say that they'll buy your car from you at the listed price.

So, yes, you're getting hosed. To begin with, anyone who's trading a car in after 4 years is getting hosed. But at $7000, I imagine you're getting hosed even harder than most.

I'm no expert, but I did stay in a hotel next to a Holiday Inn last week....and I'd take a wild guess that the car would bring more than $7000, but definitely less than $10,000, at an auction.

Have you considered a private sale? Listing it on E-Bay?
 

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You should think of buying a vehicle as two (or three) separate transactions.
1) Agree on a price for the vehicle.
2) Arrange financing for the vehicle.
3) Negotiate trade in, if applicable.

If you allow the dealer to mix any of the three transactions, you will be negotiating on monthly payment.... making it much easier for the dealer to hose you.
 

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Discussion Starter #12
bob shiftright said:
So, yes, you're getting hosed. To begin with, anyone who's trading a car in after 4 years is getting hosed. But at $7000, I imagine you're getting hosed even harder than most.
Normally, I would say yes... but I have been over-paying it so I only owe $6500 on it... I think I made a mistake in answering them when they asked how much I owed on it... they might have taken that as a starting point for the trade-in?

bob shiftright said:
I'm no expert, but I did stay in a hotel next to a Holiday Inn last week....and I'd take a wild guess that the car would bring more than $7000, but definitely less than $10,000, at an auction.

Have you considered a private sale? Listing it on E-Bay?
:) Next to a Holiday Inn - ;-)

I've decided not to trade it in... thinking about it and talking to people, I decided to put it up for sale... hopefully, it won't take too long...

Thanks for all the input...
 

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Discussion Starter #13
PSU ODY FAN said:
You should think of buying a vehicle as two (or three) separate transactions.
1) Agree on a price for the vehicle.
2) Arrange financing for the vehicle.
3) Negotiate trade in, if applicable.

If you allow the dealer to mix any of the three transactions, you will be negotiating on monthly payment.... making it much easier for the dealer to hose you.
Yeah, definitely... I made sure to keep them absolutely separate... though, how does it matter to have financing as a separate step? What exactly is in that step aside from money-down and interest rate?
 

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jsurpless said:
Yeah, definitely... I made sure to keep them absolutely separate... though, how does it matter to have financing as a separate step? What exactly is in that step aside from money-down and interest rate?
No, you got the basics. The reason it should be separate is that the dealers get kickbacks from financing. They might drop the price and raise the interest rate... your montly payment stays the same. If you know the best interest rates going in and keep that separate, you can't get screwed.

A friend recently bought a new Odyssey like my wifes. He was telling me what a great deal he got....he paid $500 less than she did. Turns out his payments are higher because they jacked his interest rate in order to knock off that $500.
 

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Discussion Starter #15
Yeah, that's true... I didn't think of that when I posted... definitely important to keep an eye on the interest rate and the numbers cause there are tons of ways to balance out a monthly payment...
 
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