Trade in... ugh

[Butch Cassidy]

A question for anyone who’s gone through this... I’m planning on trading in my Cadillac Escalade to the Kia dealer when my Telluride comes in… What are the chances of getting a fair price for my trade-in when the dealer knows I’ve waited for six months and it’s finally sitting there on the lot? Especially since they know they can just as easily sell it to anybody for probably more than MSRP
(I’m working with a dealership that charges MSRP for pre-orders, but anytime a deal falls through, or they have one on the lot that’s available, they mark it up). I really don’t have the time or energy to sell it privately, and I was hoping to use the tax break for a trade-in.
So it just dawned on me that the dealership could easily offer me thousands of dollars less for my trade-in, full well knowing that they’ve got me by the kahoonas.
Any suggestions?

 

[bbbuzzy]

Don't trade it in! Use Carmax or Carvana, etc. Or just do it yourself, it's not that hard.

 

[DarkMossJustin]

A question for anyone who’s gone through this... I’m planning on trading in my Cadillac Escalade to the Kia dealer when my Telluride comes in… What are the chances of getting a fair price for my trade-in when the dealer knows I’ve waited for six months and it’s finally sitting there on the lot? Especially since they know they can just as easily sell it to anybody for probably more than MSRP
(I’m working with a dealership that charges MSRP for pre-orders, but anytime a deal falls through, or they have one on the lot that’s available, they mark it up). I really don’t have the time or energy to sell it privately, and I was hoping to use the tax break for a trade-in.
So it just dawned on me that the dealership could easily offer me thousands of dollars less for my trade-in, full well knowing that they’ve got me by the kahoonas.
Any suggestions?

Trade-in is if you can't sell it elsewhere and need a quick decision but can absorb a less-than-optimal offer.

Faster isn't always the best, but when's your Telly arriving?

 

[Butch Cassidy]

Don't trade it in! Use Carmax or Carvana, etc. Or just do it yourself, it's not that hard.

Selling it myself will be tricky, as it’s the only vehicle we have that fits the family. Timing would need to be spot on.
I guess I was under the impression the CarMax gives a low offer when you don’t buy from them. I’ll look into it.
There’s about a $2000 tax savings by going through the Kia dealer, I guess I’ll start early in the day so that I can go to Carmax if I need to.

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[Butch Cassidy]

...when's your Telly arriving?

Not for months

 

[Kwim]

A question for anyone who’s gone through this... I’m planning on trading in my Cadillac Escalade to the Kia dealer when my Telluride comes in… What are the chances of getting a fair price for my trade-in when the dealer knows I’ve waited for six months and it’s finally sitting there on the lot? Especially since they know they can just as easily sell it to anybody for probably more than MSRP
(I’m working with a dealership that charges MSRP for pre-orders, but anytime a deal falls through, or they have one on the lot that’s available, they mark it up). I really don’t have the time or energy to sell it privately, and I was hoping to use the tax break for a trade-in.
So it just dawned on me that the dealership could easily offer me thousands of dollars less for my trade-in, full well knowing that they’ve got me by the kahoonas.
Any suggestions?

Agree with the dealer about the price, state it on paper.
Then you can agree on how many extra km the dealer will give you and then you can drive your Cadillac.
or
put it in the garage and wait for telluride.
If the dealer refuses to agree on your Cadillac, run. They will definitely try to fool you.

 

[Nightsky93]

Agree with the dealer about the price, state it on paper.
Then you can agree on how many extra km the dealer will give you and then you can drive your Cadillac.
or
put it in the garage and wait for telluride.
If the dealer refuses to agree on your Cadillac, run. They will definitely try to fool you.

I traded my Buick envision in and ordered a telluride from the dealership. This is in Canada, but the dealership let us keep the Buick while we waited for the telluride at no extra charge. Still gave us trade in we agreed on even though we prob put around 3000km on it while waiting for the telluride to arrive. Doesn’t hurt to ask and make the deal before hand.

 

[Deleter]

Selling it myself will be tricky, as it’s the only vehicle we have that fits the family. Timing would need to be spot on.
I guess I was under the impression the CarMax gives a low offer when you don’t buy from them. I’ll look into it.
There’s about a $2000 tax savings by going through the Kia dealer, I guess I’ll start early in the day so that I can go to Carmax if I need to.

GiveMeTheVin, Carvana, Vroom, Carmax. All very easy. First three...all online. Carmax is the only one you have to leave your home & go to for an appraisal.

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[ottoSXP]

@Butch Cassidy try the local/your local Cadillac dealer or GM dealer group - KIA gave me a ridiculously low offer for my Jeep & a day later i sold it back to the dealer group i bought it from for a great price ($4k more than KIA). & that was at 5yrs old & 100k+ ... good luck!

 

[Kwim]

I traded my Buick envision in and ordered a telluride from the dealership. This is in Canada, but the dealership let us keep the Buick while we waited for the telluride at no extra charge. Still gave us trade in we agreed on even though we prob put around 3000km on it while waiting for the telluride to arrive. Doesn’t hurt to ask and make the deal before hand.

it depends on the dealer. I, too, while waiting for telluride, drove 6k in 4 months and received for my sedona as much as we agreed. But !, since the kilometer length changes, the dealer can legally refuse the deal. Will return your deposit and that's it. Therefore, the agreement must be on paper in order to be guaranteed to get your telluride.

 

[victx87]

My Kia dealer offered me 31k or roughly 33k with total value including tax savings on my tradein. I sold it to Carvana for 35k instead. Was the easiest car selling experience I've ever had. I got my quote on Saturday. Submitted my documents on Sunday. Scheduled my pickup appointment on Monday. They picked up the car on Tuesday. Took a total of 3 days. I was interacting with the pickup person for less than 10 minutes. He backed my car out of the garage, did a quick walk around, I signed about 3 papers, and had my check in hand.

 

[Butch Cassidy]

My Kia dealer offered me 31k or roughly 33k with total value including tax savings on my tradein. I sold it to Carvana for 35k instead. Was the easiest car selling experience I've ever had. I got my quote on Saturday. Submitted my documents on Sunday. Scheduled my pickup appointment on Monday. They picked up the car on Tuesday. Took a total of 3 days. I was interacting with the pickup person for less than 10 minutes. He backed my car out of the garage, did a quick walk around, I signed about 3 papers, and had my check in hand.

Wow!

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[Kwim]

This is not the first time I have seen about a carvana. One gets the impression that this is not a business, but a charitable organization.
maybe I don’t understand, but how do they make money, why employees are paid wages if they buy cars at market prices.

 

[victx87]

This is not the first time I have seen about a carvana. One gets the impression that this is not a business, but a charitable organization.
maybe I don’t understand, but how do they make money, why employees are paid wages if they buy cars at market prices.

I actually see my car listed for 38.8k on Carvana. I sold it to them for 35.3k. They stand to make a few thousand if it sells.

I had it listed for about 2 months on autotrader while I waiting for my Telluride to come in for 36-37k and only got spammed with lowball offers.

Carvana, Vroom, Carmax all offered me 35k+. I didn't like Vrooms terms and conditions, and they don't give you a check on pickup, so I can't recommend them. I've heard good things about Carmax but the closest one is over an hour away. Carvana gets a 10/10 review from me though.

 

[Kwim]

I actually see my car listed for 38.8k on Carvana. I sold it to them for 35.3k. They stand to make a few thousand if it sells.

What is the market price for similar ads?


Dillel gave me 36 for sedona (ads in my area were 33-39) put it up for sale for 39k.
After 3 months, I still saw my former car at 32k.

 

[Cal]

When someone talks about a dealer offering a fair price, that's a relative thing. Fair in that they have to take the vehicle, clean it, service it to provide a warranty of functionality, and then make some level of profit on it based on current market demand. You'll always get more for a vehcile by selling privately because it bypasses those additional costs. That said, I've also experienced dealers that went above and beyond the call of duty to avoid actually doing a trade-in. To the point where they were trying to coordinate a private sale on my behalf. The other side of the coin is a dealer where they so severely low balled on their trade-in offer, I've gone out of my way to make them known locally as a scum organization. So as many have noted here, just do your reserach for local market value and then determine if you want to handle the sale yourself, or have the dealer handle it by taking a slice of the profits. Either way, an educated decision always allows for the best decision, and everyone has different wants and needs. What works for me may not work for you, and vice versa.

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[TellTastic]

As others have said, look at other trade in sources.
I, as well as others, were in the same boat. I did get offers from dealers, but dealers were too afraid to give me an online appraisal....for context the dealer I was buying from was a few hours away. No dealer wanted to give me an appraisal until the day I picked up the Telly. I had a few Dealers willing to provide an online appraisal and took those estimates to baseline offers.
Just like you, timing needed to be spot on and I was going to use that cash as a down payment.
carmax was too low.
I went with carvana but my timing was off because my telluride didn’t come in when it was supposed to. We were 2 weeks without a vehicle but that was ok

 

[mitchkramez]

I'll 2nd the Carvana approach. We sold our getting old 2011 Honda Pilot Touring through them and got about $500 less than what we could have gotten private party. It was completely hassle free and a great experience all around. Might even be worth renting a car for a couple of days?

 

[Butch Cassidy]

As others have said, look at other trade in sources.
I, as well as others, were in the same boat. I did get offers from dealers, but dealers were too afraid to give me an online appraisal....for context the dealer I was buying from was a few hours away. No dealer wanted to give me an appraisal until the day I picked up the Telly. I had a few Dealers willing to provide an online appraisal and took those estimates to baseline offers.
Just like you, timing needed to be spot on and I was going to use that cash as a down payment.
carmax was too low.
I went with carvana but my timing was off because my telluride didn’t come in when it was supposed to. We were 2 weeks without a vehicle but that was ok

Great info. Sounds exactly like my situation! How close was Carvana’s final offer from their online initial offer? I guess I don’t trust anyone in the car business so I’m waiting/looking for the bait and switch. Did you have an outstanding loan on your trade in? If so, did Carvana handle that without any issues?

 

[SC300ES]

With some states don't you also have to consider the sales tax savings by trading in?