Question about value of a car...

[purbeast0]

I'm currently somewhat looking at a new (to me) car and am going to be test driving soon. While at the dealership I want to get a feel for what kind of value they will give me on a trade in.

I currently have a 2003 Yellow VW GTI 20th Anniversary edition with 83k miles on it. Other than 2 issues, it's in great condition. The 2 issues are my rear bumper is cracked, and the rear wiper broke off during a snow/ice storm last year. Other than that, the normal wear/tear issues are coming up soon with it.

That said, when I did kbb search for value of my car, I find around like 6-5k depending on the condition of it.

Now when I searched cars.com and autotrader.com, I see cars on there with comparable miles to mine being sold for $12-11k.

So I guess what I'm asking is, how do I know the true value of my car?

When I go to test drive some cars I want to get a feel what the dealership may give to me for my car on a trade in. Additionally, when I took my car to the shop last week (when it wasn't starting, but after I jumped it it started up fine and the mechanics couldn't find anything wrong with it) they mentioned that if I was looking to sell my car, they may be interested in it. They specialize in VW cars and either want it to just have as a car for their shop when they have to give loaners, or as a project car. And I know they can get all the issues fixed in their spare time and for cheaper, since they are in the business.

So I'm wondering basically how I can come to a conclusion on what a fair trade in value or sale to these guys could be. I'm definitely not trading in w/out at least offering a deal to the other guys who were kind of interested, but I also don't want to sell it for lower than that it's worth. I'm trying to figure out based on all the things I've read so far, what a fair value from a trade in would even be.

 

[CPA]

Autotrader has this new trade-in program, or at least new to me, which will give you a trade-in value that is good for three days at participating dealerships, subject to review of the vehicle.

Also, in my city (Houston), there are a couple companies that will give you a quote to purchase your vehicle. They will also match or give you a better price if you get a trade-in value from the dealership. They are not a dealer or a non-profit group, but rather work with used auto dealers and auction houses. The one I have dealt with in Houston is IQ Auto Buyers.

 

[purbeast0]

I just checked that out and put in all my information.

with my bumper damage noted on there, they gave me a trade in of $6300. That is still significantly lower than what I'm seeing them being put up for sale at on these other sites when searching.

 

[CPA]

I just checked that out and put in all my information.

with my bumper damage noted on there, they gave me a trade in of $6300. That is still significantly lower than what I'm seeing them being put up for sale at on these other sites when searching.

Being sold by whom? Dealers? you might be able to squeeze out $7K depending on the vehicle you want, but a $4K markup isn't out of the question for a dealer.

 

[purbeast0]

Being sold by whom? Dealers? you might be able to squeeze out $7K depending on the vehicle you want, but a $4K markup isn't out of the question for a dealer.

both private seller and dealer. the dealer is the higher one though (kind of obviously heh).

 

[desy]

Private sale is always better than trade-in
You just have to put up w the BS of tirekickers

 

[Bignate603]

both private seller and dealer. the dealer is the higher one though (kind of obviously heh).

Then sell it yourself. If it's not too crazy I'd try to fix the rear wiper at least before you do it though.

 

[michal1980]

Autotrade trade-in for my 2008 rabbit was ~8800k, carmax offered 10k even. Listings for cars with my options / mileage go from ~12 to 13k, with some crazy outliers above 13.

On trade in, I'd also get a tax benefit of ~560 dollars. So true trade in value is ~10560.

Mean private party asking price I'm short between 1440 and 2440.

Realistically, If I listed for 13. I'd be asked to drop some. IMHO, the car is worth ~11.5.

So is it worth the work/risk for a 1000-2000 bucks? maybe, If I have time. But I've tired it before, and got a bunch of tire kickers. And not much else

 

[purbeast0]

so i just went to an infiniti dealership and test drove a 2010 g37s (which is way out of the price im willing to pay) since they didn't have the 2008 anymore that was on their website. they sold it on saturday.

but wow ... car is awesome, i really like it a lot!

they appraised my current ride at $5k there so i wouldn't trade it in there anyways. but i'm not goign to be getting that car anyways, just more than i am willing to spend. it was a pretty rare g37s though according to the guys there, as far as the packages it came with.

but asking $36k ... pass.

 

[michal1980]

so i just went to an infiniti dealership and test drove a 2010 g37s (which is way out of the price im willing to pay) since they didn't have the 2008 anymore that was on their website. they sold it on saturday.

but wow ... car is awesome, i really like it a lot!

they appraised my current ride at $5k there so i wouldn't trade it in there anyways. but i'm not goign to be getting that car anyways, just more than i am willing to spend. it was a pretty rare g37s though according to the guys there, as far as the packages it came with.

but asking $36k ... pass.

in dealer world... everything is rare

 

[Meghan54]

Obviously I'm confused here.....you're lamenting the fact that your trade-in value isn't near what the car is selling for at dealers or privately?

How is that surprising? *With a trade-in, the dealer is essentially purchasing the car to sell it....so, naturally there will be a gap between what they give you and what they try to sell it for. *It's called their profit margin.


Or did you expect the dealer to give you on trade-in what the car would sell for privately? *If so, that's a wholly unrealistic expectation on your part.*

 

[exar333]

Obviously I'm confused here.....you're lamenting the fact that your trade-in value isn't near what the car is selling for at dealers or privately?

How is that surprising? *With a trade-in, the dealer is essentially purchasing the car to sell it....so, naturally there will be a gap between what they give you and what they try to sell it for. *It's called their profit margin.


Or did you expect the dealer to give you on trade-in what the car would sell for privately? *If so, that's a wholly unrealistic expectation on your part.*

No neccessarily. Sometimes the dealer will have a LOT of lattitude on the trade-in price compared to the purchase price of the new vehicle. Thats why it is important to weigh all the options separately.

Negotiate the purchase price
Negotiate the financing (if applicable)
Negotiate the trade-in

Once you have the best price/rate for all three, find the dealer that can either match all of these, or come closest. If you cannot locate one, then PP selling might be the best avenue. Then all you have to do is have left is the purchase itself plus financing (if applicable).

When I purchased a car in 2009, I got 1K less on my trade-in vs. what I could realistically sell it for myself. That was worth-it to me. Trade-in value will fluctuate greatly depending on the time of the year and the car type. The dealer will give much less on a sporty car in the winter, vs. April/May/June (at least up here in MN). Play to the strengths of your car, market, and timeframe.