trade value

[IronMedic]

i was at a chevy dealership today looking at an 07 tahoe. i have an interest in trading for one later on but i decided to have them appraise my car and see where i am sitting. they gave me an offer of $19,500 for my 300c! they called around to other chrysler dealers and they all came back with the same figure as well. i know the 2006 300's are suffering concerning value due to chrysler's mess. mine has 23k miles on it and fully loaded. i purchased the car for $29k used from a chrysler dealer. the book on the car was $31k at the time. according to KBB, the car trades in my area around $26k but no dealer ever goes by the book...

so in the end, im just going to stay with my 300c and pick up a used suv later on down the road as my 2nd car. it feels like a low blow at 19k on trade for my car when it should be worth in the 20's still.

[LeeSoFL]

According to Edmunds.com, the prices are $26,300 for trade in; $28,300 for private party; and $30,100 for dealer retail.

I factored in some of the more expensive options, so your true price might be a bit lower.

Sounds like someone is taking advantage of you.

[Irwin]

Originally Posted by IronMedic

i was at a chevy dealership today looking at an 07 tahoe. i have an interest in trading for one later on but i decided to have them appraise my car and see where i am sitting. they gave me an offer of $19,500 for my 300c! they called around to other chrysler dealers and they all came back with the same figure as well. i know the 2006 300's are suffering concerning value due to chrysler's mess. mine has 23k miles on it and fully loaded. i purchased the car for $29k used from a chrysler dealer. the book on the car was $31k at the time. according to KBB, the car trades in my area around $26k but no dealer ever goes by the book...

so in the end, im just going to stay with my 300c and pick up a used suv later on down the road as my 2nd car. it feels like a low blow at 19k on trade for my car when it should be worth in the 20's still.

I never knew about it until recently, but my future to be son-inlaw works as a salesmen for a dealership, and he told me a car dealer makes more profit selling a good used car than a new car. Right now the car dealers are not selling many cars. I sugest telling them the amount of the value that KBB gives, that you will not go for a dollar less, do not contact them, and I bet they will call you in a couple of days ready to trade at your terms.

[Michaelr]

There is rarely any joy in selling a car as they devalue so quickly. I never trade in mine to the dealers because they either pay too low for your or charge too high for the new one.
I always just buy another and then sell mine at my leisure. I just sold my other car after 4 months of trying but in the end I was $3000aus better off.
This way you can get the best price at both ends and not pay a whopping trade in fee just for the convenience.
regards Michaelr

[HEMMISSEY]

$19,500??? wtf!!!!!!!! hell no!

[rickgonz]

The Chrysler dealers in my area negotiate based on the KBB price. In fact one of the dealers printed out the KBB value for me. It could be an issue of competition and population. Where there's more people there are more dealers, there is more demand for a car like this. It's possible that in your area, the dealers may sell to an auction house instead of letting it sit on their lot for a long time. So they go with the lowest price.

[acesrt]

I was in the business for only a short time many years ago.

One thing I learned is the KBB doesn't mean much of anything in the real world.

Galves is where its at.
This guide gives the WHOLESALE value.
The approx amount the dealer gets if he sells it straight to the wholesaler.
Every sales desk at every dealership should have a copy. If they claim not to they are probly lying.
If they offer you $19,500 tell them it is a lowball offer and ask to see their copy of galves.
If your car is in decent shape without any noticeable mods you should get Galves value at a minimum.
The dealer then (if he doesn't want to retail it) simply turns the keys over to the wholesaler, breaks even on the trade, and has made his money on the New car sale (in addition to moving a new unit).

If you go in mentioning KBB you probly won't get anywhere.
If you mention galves they will think you know the business and realize they can't beat you on the trade.


Another thing, tell them "not trading in" until after the price for the new car is finalized.

Originally Posted by IronMedic

i was at a chevy dealership today looking at an 07 tahoe. i have an interest in trading for one later on but i decided to have them appraise my car and see where i am sitting. they gave me an offer of $19,500 for my 300c! they called around to other chrysler dealers and they all came back with the same figure as well. i know the 2006 300's are suffering concerning value due to chrysler's mess. mine has 23k miles on it and fully loaded. i purchased the car for $29k used from a chrysler dealer. the book on the car was $31k at the time. according to KBB, the car trades in my area around $26k but no dealer ever goes by the book...

so in the end, im just going to stay with my 300c and pick up a used suv later on down the road as my 2nd car. it feels like a low blow at 19k on trade for my car when it should be worth in the 20's still.

[kevenj]

I've said it before but it remains true:

The ONLY... yes... ONLY thing that matters when you are trading in one car for another is the DIFFERENCE.

In other words a Chevy dealer that operates in typical way by adding a second sticker to the official MSRP sticker and then wearing you down for hours with "I'll go check with the manager" before they finally end up at a price around MSRP, can afford to give you whatever you want for your trade on paper. On the other hand if you are dealing with a 'one price/ no hassle' type of dealer that sells below invoice (more and more dealers are doing this because it works!) then you are only going to get a wholesale trade in offer for your car; but it still may be the better deal - - the difference is the key!

The best of both worlds? buy your SUV at a 'no hassle' dealer for below invoice and sell your 300C yourself.

[joey]

I just ran a KBB on a 2006 fully loaded (guessing) with 23k miles and here is what I got for Trade-in value

Excellent $26,800
Good $25,295
Fair $22,575

From my experience, dealers will offer the FAIR KBB value.
So the $19.5k looks too low.

I think it is also a bad time to be trading in an older 300. The dealers are trying to dump their new 2007 lot cars to make room for the redesigned 2008.

[BlkLikeMe]

Someone was trying to make money on your trade and on the unit they were selling...you were about to grab your ankles, eyes wide open and end up with the New car screw! I'd stay the away from that dealership if I were you.