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Trade in sticker shock

2K views 10 replies 6 participants last post by  jim2527 
#1 ·
Let me start by saying the wife is happy with her TH and its been perfect for the last 6 months we have owned it and I never expected to make money tho we got a killer deal when we bought it. So originally we were looking for GC with Hemi, mid night blue with that awesome brown leather, very rare combo to find...we found one that was in a wreck and walked away. Found the TH she has now which she loves, but a few times it has been too small for what we needed (I tried to get her to see that at time of purchase but she wasn't really listening, lol) So anyway happened to be on line and found a used GC Overland in that color, with Hemi and brown leather at a local CarMax for $32k with 29k miles on it so we went and looked at it last night with the potential that if they came close I would pull the trigger. Long story short they were going to offer me 23k for her TH with just a hair of 17k miles on it and its cherry. I was a bit pissed about that, they are selling for 30k with 30k miles on it, I know there is a wholesale vrs retail market but that's a huge hit. Needless to say I told them to shove it and walked. I am wrong for expecting to be 26K+ for trade in?
 
#5 ·
I am aware that a new one there is a huge hit but didn't think that it would be as substantial with a use one.

As to your comment Northy65 I went to another dealer and they offered me less, then flat out showed me they were screwing me over. The sales guy offered me 21500-22,000. When I called him out on it he showed me what they are selling for at wholesale, and I said, yea see average for good to better condition is 25,800 and you are offering me way less for a low mileage clean cherry TH. He said I buy something from him he would consider doing better, I said, wow thanks, laughed and walked out. What a joke.
 
#4 ·
also not all dealers are created equal....

when I was dealing my 2012 F150 FX4 for the TH I have now, I had a variance of 7 grand for value of my trade between 5 different dealers

unfortunately you are looking at a used vehicle with particular options, and it seems that no other dealer has,

you may do better overall pricing and financing with buying new

that being said as soon as that vehicle gets registered into your name, you do a good swift kick in the b**ls dollar wise
 
#6 ·
I have only ever bought 2 new cars in my life. A Nissan 350z and the Trailhawk. The Z car i kept for ten years. Got over 15k for it when i sold it,not to bad a deal there,as for the Trailhawk we shall see. Normally I buy a car a year or two old and give them real detailed look overs before buying and let the person who bought it new take the big hit on the sticker price new. Just my two cents.
 
#7 ·
My 2015 TH is my first brand new vehicle that have ever owned. Before I bought it though, I was shopping around for a 2014 year model TH. I've found them priced used from around $25,000.00 to $28,000.00, but seeing how most of the reported transmission issues were in the 2014 model year I decided on the 2015 instead, which BTW I've never had any problems with it...yet. Basically saying, I'm seeing that there is up to a $10,000.00 depreciation in value once driven off the lot, but I have found that many vehicles are like that though. Unfortunately it's just a way of life. :(
 
#8 ·
We keep going back to that GC and being that spring is here I think it will be for sale for a bit yet so we are watching it. I may go back in a few weeks and see if they will move at all on price. Also might list our TH for sale privately and see if we get any takers. We are the 2nd owner and got a good deal on it so I can sell it for less than what a dealer would sell similarly priced TH for. We shall see.
 
#9 ·
Not sure how sales tax on vehicles work in Maryland, but here in Ontario you only pay tax on the difference between the vehicle you are buying and the trade in value

with that you want to be careful on selling privately as you pay tax on the whole vehicle purchase price.

thats here in Ontario how it works
 
#10 ·
I looked into that, if I trade it in I'll get a $1400 tax credit towards my new purchase. Actually found a 2014 GC Overland in True Blue with brown/black interior, Hemi etc and it is in transit as I had it transferred from one dealer to another .Should be here tomorrow, unless there is an issue with it I'm going to go ahead and pick it up in the next few days, I'll leave a deposit on it to hold it in the meantime. I listed our TH for sale for payoff if anyone is looking or knows of someone who is, rather sell it to someone who will enjoy it then turn in at dealer who will mark it up and resell it.
 
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