Question about trading in a car. I have a 10 year old lexus SUV with 115k miles on it. KBB says it's worth about $9-10k. I have a few dings around the doors and I got nailed in the rear a few months ago in the TJs parking lot. Not bad, but a little dent. Is it worth it to take the car to my body shop and have it all fixed before I trade it in? Or would I pretty much only recoup what additional Id get from the trade-in? Same goes for getting the inside detailed. Worth it?
I'd just give it a good detail job. I don't think the money you spend to fix minor dings would increase the value enough to justify the cost of repair.
Are you trading it in for a new car? For me, the salesman just used it as a bargaining chip, they didn't even look at my trade-in until after we signed the papers. They just asked year and model. They offered a very low amount for it then I pulled out the kelly blue book value (printed out) and they gave it to me. So no, I wouldn't even vacuum it.
FWIW The trade-in was a 4 year old Altima coupe and I bought a camry
Post by georgeharrison on Dec 18, 2014 14:41:08 GMT -5
I use to clean my trade-ins all up, but I have found that it hasn't given me any extra in value. They start with a % of the KBB or the NADA and then if you know what you're talking about and you say, "I know my vehicle is worth at least $X on (NADA or KBB)," that will help. It also helps if you go on like Autotrader.com and know what similar ones are selling for in your area. If there is little inventory of your vehicle, that can also help you negotiate a little more. If you owe on it, don't tell them how much, because they will just try to pay it off for you and not give you much more than that.
When we trade in a vehicle, we always go in with a target amount for the trade (based on what we find on KBB, NADA, and AutoTrader), and we also have a minimum amount. If their drop dead allowance is lower than our minimum, we walk. We are reasonable with our amount knowing that they need to make money off of it, too.
Edit: My last two trade-ins, they didn't even look at. They just got the VIN and the mileage.
You will get more for your vehicle if you sell it yourself private party rather than trading it in. IF you choose to trade it in - do NOT tell them that is your plan when you first begin dealing with them. Be vague - "I am not sure yet - I have a friend who has considered buying it etc" Negotiate the price of the car you want to buy first --- then negotiate the trade in after that.