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Low ball trade in offers

DarthTrizzle

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you think 26k for a car that is selling for 34-35k is fair? lol what are you smoking
I actually looked at a new Si while I was getting my oil changed today. It was for sale at MSRP @31k. Used market is dropping fast. I would prob want a few K more if I was paying an adm though. Although depending on your state it may be worth the tax savings. Here in FL I saved 2k in taxes because of my 20k trade in. Course I think they gave me a little extra because I've bought many cars from them including my Si I traded in. Loyalty does get you some points with honest dealers.
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Icehawk

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Carvana is bankrupt - partially from overpaying for massive inventory. Expect used cars to continue to trend downward back to normal this year.

Also make sure to NEVER tell them you have a note on a used car until you have agreed on price - otherwise they pretty much won't offer you more than that.
 
OP
OP
CivicR38

CivicR38

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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.
Which part is contradicting? Absolutely some used cars are worth more than MSRP, almost every example used on this forum over the past year has almost reinforced that. Hell, 3 years later some cars are selling used for more than they were MSRP.

My original post was a question and an example based on my very limited experience with 2 dealers trying to get the max value on their Type R is all. I understand how the market works, how cars work, and how dealerships need to make their money as well.

My only argument is that there is no way they take in a trade, on a car such as an SI which is very difficult to come across, and not sell it for market value. I agree with you that the market is on a down swing, as it should be.....
 

Cornercarver

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Hmm, reminds me of when I traded my '17 SI in for my '18 Type R. Blue book trade-in value - was $ 15K. Dealer wanted $ 35K for CPO Type R with 13,800 miles. Okay, no problem, my preferred color, got to test drive it, only took add-ons I actually wanted, etc. But then I am offered $ 13K for my trade in. Almost walked. Yes it had 52,000 miles in early 2020 when I was trading it to a Honda dealer.
If the car I as buying was readily available elsewhere I could have been tougher. Or if I thought they were out of line on the Type R - they weren't.
They said they had to put money into it for it so they could sell it as a CPO car.
So $ !3K + $ 1K of additional prep, and they still sell it for $ 18-20 K all day. Because they had literally no SI's on the lot. So at $ 15K - the book trade in value - they make a nice profit. Not to mention the money made on the financing, any add-ons, and later servicing.
But try and find a 2 year old certified pre=owned Type R =like a 2021 - now with 13 -14,000 miles for
$ 35K. Not happening. So I could have gotten more later for my SI - even as it aged - but would have paid more on the other end. So I am at peace.
Dealers absolutely have a right to a profit on your trade. How much is the only question.
I countered their $ 13K offer on my trade. They would not budge an inch.
No, I didn't get up and leave and tell them to call me when they were serious. Because they had my Type R. I could have bought another $ 35K low mile CPO Type R in blue elsewhere...oh wait, there weren't any.
So you can certainly haggle, but don't go on the basis that they should pay you what they will sell it for. Or even close. Just say, 'Look, I know you need to make money on the trade as well, that's fine, but let's keep it reasonable so we both have a deal we can live with. I really would like to do business with you.' And be prepared to back up your request with hard data. Good luck.
 

Tickle

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That's all you can do....

Customers and sales employees alike need to be human... It is the people who most often get in the way of a deal. Less so the numbers...
 


captainscott60

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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 don’t know if you had heard about my 22 SI before I got my type R but the Dealer sent mine to a dealer auction netted me $32.5. Mine was Black with 2300 mi. Front spoiler and ceramic coated, with weather tech mats. The dealership made $1500 on the deal. This was 3 months ago ! They’re screwing you. I paid MSRP for the SI so it worked out good. Try asking if they will do he same thing for the OP.
good luck.
 

Tickle

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I don’t know if you had heard about my 22 SI before I got my type R but the Dealer sent mine to a dealer auction netted me $32.5. Mine was Black with 2300 mi. Front spoiler and ceramic coated, with weather tech mats. The dealership made $1500 on the deal. This was 3 months ago ! They’re screwing you. I paid MSRP for the SI so it worked out good. Try asking if they will do he same thing for the OP.
good luck.
I didn't hear about it.

When did it go to the auction?
 

captainscott60

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I don’t know if you had heard about my 22 SI before I got my type R but the Dealer sent mine to a dealer auction netted me $32.5. Mine was Black with 2300 mi. Front spoiler and ceramic coated, with weather tech mats. The dealership made $1500 on the deal. This was 3 months ago ! They’re screwing you. I paid MSRP for the SI so it worked out good. Try asking if they will do he same thing for the OP.
good luck.
It was an auction called ACD or something like that. It sounded like a local dealer direct to direct. Cost the Dealer $250 to sell it.
regards
 

Tickle

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I think it was around Oct 28th.
best
Around that time, that amount makes far more sense than it does today.

What you are describing is a business called ACV.

The dealership selling the vehicle can upload the information on a car and receive and offer based off VIN, milage, Carfax and condition. Your ceramic coating and all season floor mats made no difference.

On the buying end of a transaction the other dealers sets up criteria for what they are looking for and what they are willing to pay based of that same criteria. Your vehicle hit what exactly what another dealer was looking for thus when the information from the selling dealer was uploaded the buying dealer purchased a vehicle. Vehicles will go coast to coast using this method. Not a bad way to sell, not a great way to buy as a dealer.


Back to the money... At that time, I can see your vehicle selling on ACV for that sort of money. Not all dealers use this method to buy or sell cars. Not all dealers business models are the same. OP may get a different value st s different store.

My main point here is that I see the logic behind the number he was offered.
 


arsing116

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I got a quote from Vroom a few weeks ago and they were going to give me $29k for my 23 Si with 800 miles on it.
 
OP
OP
CivicR38

CivicR38

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I got a quote from Vroom a few weeks ago and they were going to give me $29k for my 23 Si with 800 miles on it.
Sounds much more realistic than the $26k I was offered. Even used, a 2023 with under 3k miles is going to sell for 33k all day long.
 

captainscott60

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Around that time, that amount makes far more sense than it does today.

What you are describing is a business called ACV.

The dealership selling the vehicle can upload the information on a car and receive and offer based off VIN, milage, Carfax and condition. Your ceramic coating and all season floor mats made no difference.

On the buying end of a transaction the other dealers sets up criteria for what they are looking for and what they are willing to pay based of that same criteria. Your vehicle hit what exactly what another dealer was looking for thus when the information from the selling dealer was uploaded the buying dealer purchased a vehicle. Vehicles will go coast to coast using this method. Not a bad way to sell, not a great way to buy as a dealer.


Back to the money... At that time, I can see your vehicle selling on ACV for that sort of money. Not all dealers use this method to buy or sell cars. Not all dealers business models are the same. OP may get a different value st s different store.

My main point here is that I see the logic behind the number he was offered.
Thank you for the explanation. My timeline was perfect I guess and the stars were aligned as to be able to get my type R with no problem. And as I mentioned it before to you , it helps to be 20 year friends with the GM/ part owner! He was very helpful.
now I finally get the car and can’t even drive it. I slipped on ice and broke my left kneecap. 3/12 hour surgery and now in a nursing home.All I can do now is sit and dream about driving my new car, but can’t! Have a great day, mr tickle.
regards
 

DarthTrizzle

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Hmm, reminds me of when I traded my '17 SI in for my '18 Type R. Blue book trade-in value - was $ 15K. Dealer wanted $ 35K for CPO Type R with 13,800 miles. Okay, no problem, my preferred color, got to test drive it, only took add-ons I actually wanted, etc. But then I am offered $ 13K for my trade in. Almost walked. Yes it had 52,000 miles in early 2020 when I was trading it to a Honda dealer.
If the car I as buying was readily available elsewhere I could have been tougher. Or if I thought they were out of line on the Type R - they weren't.
They said they had to put money into it for it so they could sell it as a CPO car.
So $ !3K + $ 1K of additional prep, and they still sell it for $ 18-20 K all day. Because they had literally no SI's on the lot. So at $ 15K - the book trade in value - they make a nice profit. Not to mention the money made on the financing, any add-ons, and later servicing.
But try and find a 2 year old certified pre=owned Type R =like a 2021 - now with 13 -14,000 miles for
$ 35K. Not happening. So I could have gotten more later for my SI - even as it aged - but would have paid more on the other end. So I am at peace.
Dealers absolutely have a right to a profit on your trade. How much is the only question.
I countered their $ 13K offer on my trade. They would not budge an inch.
No, I didn't get up and leave and tell them to call me when they were serious. Because they had my Type R. I could have bought another $ 35K low mile CPO Type R in blue elsewhere...oh wait, there weren't any.
So you can certainly haggle, but don't go on the basis that they should pay you what they will sell it for. Or even close. Just say, 'Look, I know you need to make money on the trade as well, that's fine, but let's keep it reasonable so we both have a deal we can live with. I really would like to do business with you.' And be prepared to back up your request with hard data. Good luck.
The swing in the market is just nuts. I got 20k for my 17 Si with 85k miles in November. If I had waited until now I would prob get 15k. I suspect it would be down to 10-13k by late this year.
 

Cornercarver

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Yeah, I heard that the used car market had undergone major swings - no doubt partly related to higher financing rates. And presumably more supply of new and used cars hitting the market.

I still think the rarer models will hold up well over the long term.
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