Low ball trade in offers

[CivicR38]

Has anyone else experienced extremely low trade in values on the car you might be trading in for your Type R? I've been contacted by two dealerships notifying me they have a type R coming in and are looking for a 5k ADM for the car.

I was fortunate to get a 2023 Civic Si a month ago for MSRP, assuming the trade in value up to the Type R would be great. There are barely any SI at dealerships around here, the ones that end up getting them in are 5k over and the list is long. Used 2022 SI, with 4-9k miles, are going for 33-35k in my local area.

Dealer today had their manager call me and tell me they would be at 26k on my trade, saying they would sell the SI for under what MSRP is because it's used. I'm sorry but that's complete BS. No dealer is going to sell the car that I trade in to them for thousands less than market value and while marking up the car I'm trading in for.

I do not need to trade in my SI, nor will I, for a dealership to make 7-8k on the trade and another 5K on the markup. I could probably drive the car down to Carmax and walk out with 31k for it.

Anyone else experiencing this type of shit with their dealerships?

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[CTRifecta]

Check CarMax and carvanna, but I think 26 is fair in the current market

 

[SPH]

CarMax offered 25,400 for my 22 EX and Carvana 25,000.

Check around some sites and see if the dealer will match

 

[CivicR38]

Check CarMax and carvanna, but I think 26 is fair in the current market

you think 26k for a car that is selling for 34-35k is fair? lol what are you smoking

 

[holland1]

I was just about to start a thread on this, my wifes rav4 prime last year got an offer for 43k, 10 months and 6k more miles later now its down to 35k.

My 2015 ram 2500 w/ 180k miles they offered 6k. Ya I realize they don't want that high mileage but I've seen dealers asking over 15k for similar trucks.


Same car there selling and they offer me 35k. I hope they all go out of business
2021 ToyotaRAV4 Prime Plug-In SE

$50,998*•13K mi

 

[ne_typer]

Get offers from Carvana, CarMax, Shift, Vroom, Carfax, and leverage those. Depending on your state, sales tax savings will be no more than $2K, so don't be afraid to just sell elsewhere (rather than trading in).

 

[Tickle]

you think 26k for a car that is selling for 34-35k is fair? lol what are you smoking

You just said you purchased your car for MSRP.

I just glanced at the auction... Not like there are plenty going through but the most recent example had 650 miles on it and went through for 26,900.

A new dealer is going to pay what for a new one 27,9xx or so I'm guessing? So by the time a dealer gets your car. Invests what they may do to it. You're looking at possibly owning the car for what a new one would be. Then turning around and trying to sell it for profit. I'm not exactly sure what you were expecting.

 

[UFO CTR]

also, @ $26k, they'll be in another $1k or two...
what it is selling for and what dealers will pay is two different #'s.
If all dealer are willing to pay "what it's selling for", then the dealer is to either make zero dollars or forced to mark up to a price higher than "what it's selling for"? At that point, who will buy?

so I call back and apologize and sign the papers ASAP.

 

[CivicR38]

You just said you purchased your car for MSRP.

I just glanced at the auction... Not like there are plenty going through but the most recent example had 650 miles on it and went through for 26,900.

A new dealer is going to pay what for a new one 27,9xx or so I'm guessing? So by the time a dealer gets your car. Invests what they may do to it. You're looking at possibly owning the car for what a new one would be. Then turning around and trying to sell it for profit. I'm not exactly sure what you were expecting.

I understand it's not meant to be a money making purchase getting one for MSRP and flipping it, but to assume a dealer is going to put this on their lot for an less than 33k is just not going to happen. A dealer would have to do nothing to a car with 1k miles on it, likely be able to add the "honda certified" feature as well increasing it's value.

 

[Tickle]

I understand it's not meant to be a money making purchase getting one for MSRP and flipping it, but to assume a dealer is going to put this on their lot for an less than 33k is just not going to happen. A dealer would have to do nothing to a car with 1k miles on it, likely be able to add the "honda certified" feature as well increasing it's value.

They will have to do something.

State inspection
Honda Certification process
Honda Certification itself
Change oil


That's hundreds of dollars in cost. I understand where you are coming from. Minimal cost indeed but not free.

By all means try to bump them 1000... But I can understand how they arrived to that number.

 

[CivicR38]

They will have to do something.

State inspection
Honda Certification process
Honda Certification itself
Change oil


That's hundreds of dollars in cost. I understand where you are coming from. Minimal cost indeed but not free.

By all means try to bump them 1000... But I can understand how they arrived to that number.

Sure...all negotiations have to begin somewhere. I've had too many cars over the past 10 years to realize that the first offer is never the final offer. Most reputable dealerships seem to be ok turning a 10% profit on a car, especially when you're buying from them. Both parties need to feel like they made out in the deal. 26k on a car going to the lot for 33-34k is hardly a good deal. SI's are almost as rare as Type Rs right now lol

 

[Integra23]

I think we are on a downward slope for vehicle prices.

 

[TDC50]

If you hold out for too much your car may just sit and not get sold just like a car dealer looking for too much ADM on a new car.
Don’t forget about the tax savings from the trade in. Not sure of your tax rate but here in metro NY sales tax is around 8.625%

 

[rui]

Has anyone else experienced extremely low trade in values on the car you might be trading in for your Type R? I've been contacted by two dealerships notifying me they have a type R coming in and are looking for a 5k ADM for the car.

I was fortunate to get a 2023 Civic Si a month ago for MSRP, assuming the trade in value up to the Type R would be great. There are barely any SI at dealerships around here, the ones that end up getting them in are 5k over and the list is long. Used 2022 SI, with 4-9k miles, are going for 33-35k in my local area.

Dealer today had their manager call me and tell me they would be at 26k on my trade, saying they would sell the SI for under what MSRP is because it's used. I'm sorry but that's complete BS. No dealer is going to sell the car that I trade in to them for thousands less than market value and while marking up the car I'm trading in for.

I do not need to trade in my SI, nor will I, for a dealership to make 7-8k on the trade and another 5K on the markup. I could probably drive the car down to Carmax and walk out with 31k for it.

Anyone else experiencing this type of shit with their dealerships?

You are contradicting yourself.
If a used car is worth more than MSRP how were you able to get a new one for MSRP?

Also the dealership needs to cover their costs and make some profit.

If you're not happy with the offer you can always sell it yourself.

 

[Shankmeyster]

I mean book for my WRX I got out of was $25-$26k but Carmax offered $24k and the dealer I traded it in to gave me $22.5k and saved me more tax than I would have paid with $24k cash. Dealers can put up used car prices all they want but it doesn't mean people are actually paying that. Used car buying is all about price negotiation and especially now with interest rates at an all time high.

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