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Dealer's Tricks - bait & switch, etc.
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That I did not have. At least I have a point of reference now.
why should you care how much money a dealer makes? bottom line fact is that even if they were making $10000 on your trade, they wont put more money into it than they can buy one for at auction. period. its just bad business.
this attitude of "as long as the dealer doesnt make too much money" really irks me. its not your business how much we make.
again, i will refer you to the real-world trade-in values board. several people have suggested it, yet i havent seen a post from you as of yet.
My guess would be, the trade value is going to be closer to that $16K number I looked up than it is the $22K (according to NADA) or your number of $20K+.
That's particularly true if e-bay has the same thing retailed for $18K...and since that's their "buy it now" price...no guarantee they'll get that number.
Trade value is going to be at least $2,000 behind retail, probably more like $3,000 behind retail to give the dealer some "wiggle room".
ANd I have no problem with that either. Just trying to learn what retail is and what KBB adn NADA say it is. They claim it is 25,3 to 27K
my local Carmax has an 02 going for 25 (non-haggle price), and my local area (cars.com), has 02s for 26 to 31K (all at dealers).
Based on that, I am about 5K below retail (or more - depending).
I mean, I am not trying to dream up prices. Just trying to not be totally shocked and perform all necessary due diligence - frankly if it is that low, I'd keep it and not buy new now.
And that's ok too, it may be my best option.
KBB / NADA / "insert any other you would like here" all provide an estimate of what your vehicle is worth. Let's say your burb is worth $22,000(just throwing that out there) according to the book. Why would any dealer give you $20 to $22K, when a prospective buyer is going to walk in and show them the same figure out of the same book and want to pay that amount or less? You are right, the dealer may *ask* $26 for it when he tries to sell it, and they may find a sucker to pay $26 for it, but most likely not. Not to mention that the whole time it sits on the dealer's lot, it is depreciating. A Suburban is not like a bottle of wine, it doesn't get finer over time. I think the others have already covered the overhead associated with running a dealership. I don't like trading in cars either - it is discouraging to see the amounts that dealers offer when it comes to trade ins, but you have to understand where those #'s come from. It has been my experience that on trade ins, I am typically "low balled" once (maybe twice), and then I am offered pretty much the going auction price (which you can find by asking Terry - or by searching around on the net if you don't trust Terry). My point to all of this is that if you are willing, and can afford to accept the auction price, and you don't find the couple thousand of dollars difference worth the efforts involved with selling yourself, then trade the car and be happy with the auction price (just make sure you know what that auction price should be before you go into the dealer). If you want what the book says, then you need to try to sell on your own.
I am trying to get the real numbers.
I am using the sources, and I am assuming that I get the trade price (or maybe a bit more - not a lot).
I am seeing the disparity between trade in and resale and understand it, clearly.
I see it as the real resale being 1 to 3 k less than retail - but still quite a bit more than my trade value price.
If all that is correct and everything else is equal, then maybe I can get about 19k + or - for it, but if it is 16 and that tops out at 16, then I will keep it.
No problems.
Just not my thing.
Now, again, if I am offered say 16K, then I go to carmax, and if they offer me say 18.5K (or whatever), then I have to decide.
But, I have always been into easy, least time consuming.
Agreed that selling privately is a different ballgame, and not for everybody.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Sorry, I wouldn't go the newspaper route and 50 gillion calls from lunatics either, but when all it takes is a couple of digital photos and 3 minutes setting up an ad...I can't see a downside to making an extra couple of grand.
But, I see you posted in RWTIV. Terry's the definitive source and will put an end to your search for the "real value" of it.
Just visited ebay, did not see any comps at the 18K price. Saw a couple similar but for the 82K adn 105K miles.
And the rest were in the 20xxx to 25+xxx range.
One was reserve not met with a current bid of almost 18K though.
These were current auctions. Did I miss one? Have not looked yet at actual sales.
But overall - from my quick look, it appears that ebay is trying to get prices close to the KBB retail.
Just gave them a quick look. Didn't look at anything but the "headers", so I couldn't tell you the particulars. '01 burbs are going around a $15,500 average.....'02s are going for around $18,500 average. So, $2k-$3K behind those prices I would figure as trade-in values.
KBB private party sales has the 'burb around $18K, so the numbers still figure since they also say trade-in value is around $16K.
Not trying to say you're right in your figures or your wrong with your figures. I just want to see what Terry says to find out if I'm close.
But, unless you used different parameters - or whatnot, your numbers are about 1.5K or so lower than the numbers I used.
Not that there's anything wrong with that.
How fast does Terry normally reply and is it via email or on the forum?
Just curious?
I have used them for my golf stuff, but not cars - not seriously anyway.
I used my local papers, local carmax prices, and local cars.com as my retail sources.
I am not trying nor expecting retail prices for my sub, but i feel a need to know what they do go for and how that affects the trade rate.
This discussion is about "dealer tricks" and not about valuing used vehicles. Let's take that conversation elsewhere and reserve this one for discussion centering around the topic title, please.
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Back on topic.....I'm in the market for a new car. I'm trying to narrow my choices. Benz's are on my list. I know at one point in time, dealers were getting MSRP, no negotiations.
But, since Mercedes' have had major issues with quality and reliability, does anyone know if there is discounting being done on their new cars? Being a "highline" manufacturer, do their dealers do the type of "packing" (dealer installed options to move the price up) of their cars?
Ha,
The VIN etching only costs about $45.00. Here in the Tampa area there is an investigation with guess what dealers (Toyota of course) where they have been caught charging up to $2,500.00!!! for VIN etching. The real das thing is that people have actually paid for this (without knowing or understanding, of course).
They just opened a new toyota dealer newr my house (I think an existing dealer moved to better digs). I'm seriously thinking of going in there to "shop". Problem is that I don't have a POS to drive in with any more, Even my old Fleetwood looks brand new. But,,,,, it has 160,000 miles on it so maybe I can have fun "considering" to "trade" in that car for a brand new toyota pos. I'll be "looking for a convertible", that should do it.
Both on edmunds and the dealer site, the base MSRP for '05 Elantra's is 13,299, so I figure this car came with $620 of options. Looking it up on Edmunds, I concluded that an '05 Elantra for that price was very likely for the GLS manual, with option package 3 (cruise & CD) plus floor mats which works out to exactly the quoted MSRP.
We immediately went to the dealer to get such a good deal. When we were shown the car, it did not have any options. I mentioned that it didn't have CD, and I mentioned that it was white instead of silver as the one in the ad. The salesperson said that it the silver cost more. I figured that I had just made a mistake on the options (and the color didn't really matter, I wasn't too surprised about the different color). After a test drive, we were pleased to purchase the car. Not including the loyalty or military discounts, my wife and I got the car for $9,123+TTL, a great price even for the base model, and drove it home.
Tonight, I woke up in the middle of the night, and remembered my disappointment about the missing options, and remembered that the ad gave a VIN!! Unable to return to sleep, I looked up the VIN in the ad versus the VIN of what they sold us, and they are different! The dealer switched us to a cheaper car, telling us that it was the one advertised! We came in to see the advertised car 989410, and they switched us to 993294!
Now, we bought the car, signed the papers etc. What can I do? Do I have any recourse here? Am I out of luck? Can I go back to the dealer and demand the other car instead?
Oh, how I wish I had remembered I had the advertised VIN last night.
I would really really appreciate some good advice.
Simple: don't buy a Hyundai ...
Terry.
Thank You.
Yes. Buy the car when the title is there.
-Mathias
Thanks
It appears to me a case of the ether (a Hyundai!!!!) fading away in the middle of the night!!!!
The thing is, the salesperson repeatedly told us that the car we were looking at was the ad car. It was not. The price they gave us was negotiated based off the MSRP of the ad car, not the MSRP of the car they gave us. I think the dealers do share some of the fault, whether they made an honest mistake or not.
Right now, I'm thinking I'll probably go back, and ask nicely for them to make it right. If they don't, I'll probably file a complaint at the BBB, and enjoy the great deal we got anyway. I don't want to fight the dealer, and I don't want to get legal. It's just a bit frustrating to realize that the car was misrepresented to us.
But, if not.. you pretty much have to take what you've got.. Since you noticed right away, that the car was white, and not silver... you couldn't have been under any mistaken impression that it was the same car in the ad.. You also stated that you noticed it was missing some options.. It is going to be pretty hard to make a case that you didn't notice you weren't getting the car in the ad..
Hopefully, the Hyundai will be reliable and won't give you any problems... The advantage you have, is that you didn't spend a lot of money on it, so any lessons learned won't be too expensive..
Lesson #2:
When everyone is telling you the best bet in a small car under $10K is a used Prizm or Protege.. LISTEN TO THEM.
But, we won't take it personally, if you won't.. Good luck with your new car..
regards,
kyfdx
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I was very pleased that it was mostly a misunderstanding, and that the people at the dealership treated me fairly reasonably when we went in to ask about it. I would recommend Doten Hyundai in Richmond, CA (especially if you can get a good ad price!).
Thanks to the folks with the helpful and friendly responses.
Enjoy your car, and if you are going to hang out here develop thick skin as you will take a beating for purchasing a Hyundai.
where did the $9123 come from?
the only pet peeve i have with ad prices, is that people sometimes think it is still negotiable. heck...if i wanted to advertise the 2nd best price, id be wasting my ad money.
the only pet peeve i have with making an offer is that salespeople sometimes think it is still negotiable. heck...if i wanted to offer the 2nd best price, id be wasting my time.
not to turn this into a venting craze...but the last thing that irks me is people who compare our rebates to say, GM rebates (i work for nissan) and they figure since we dont have $8000 in rebates, we can make it up by just discounting the car. its not apples to apples!
vent done
We don't know if you will take $500 off your sale price or not. The only way we can find out is to ask.
i was $600 away from a deal on a vehicle that we had advertised a couple weeks ago. i called him the next day to see if he changed his mind...
"nope. im not coming up another penny. its up to your manager now."
i replied "sam, if he could do it, dont you think he would have done it yesterday while you were here?"
a long pause...
"ok...well, i guess that makes sense. ill come up $100."
AAAAARRRRRGGGGGHHHHH!!!!!!!
thats what we in the business call 'outsmarting one's self'.
-thene
Exactly. The place where I bought my last two Toyotas puts in ad in the Sat. morning paper. For the advertised price, there is only one vehicle, which is a really good price, and the vehicle must stay on the lot until Mon. morning to prove to others that it is in fact a legit deal. I got there about an hour after they opened and all the vehicles had a sold sign.
Now the vehicle is pretty much base but it is a legitimate deal. One of the vehicles I bought was for $500 more but with a couple more minor options and it was black (I'm in Fla.), so still a decent deal.