Trade-in Question

[jerlane]

So, I'm getting ready to order a new Trail Edition and the negotiations have gone pretty well. We have come to terms with numbers I'm pretty happy with for both purchase and trade in of my 2011 Tacoma. Here's the tricky part. They don't know how long it will take to get the TE and say it could be up to four months. Therefore, they won't guarantee me the trade in value. This seems a little shady to me. I figure if I'm comitting to buying from them at a certain price, then they should be willing to do the same. At the very least, I would insist on the right to back out of the deal without penalty if I don't like the price they offer me when the vehicle gets here.

Anyone have experience with a trade in when ordering a new vehicle? Any thoughts?

Thanks in advance!

 

[Grizzld]

Did you try asking them to agree on a price, then a depreciation amount based on the mileage you put on your vehicle between now and then?

If it's going to take 4 months, I could see why they wouldn't want to commit to a certain price. You might put 4,000 miles, +/-, on the vehicle by then.

 

[1engineer]

You will get a new vehicle. Your vehicle will not be the same in 4 months as it is today. You might wreck it, it might have 8K more miles on it, you might blow a tire, it might get scratched, etc. Just get a back-out agreement in case either party changes their mind.

 

[philsey]

So, I'm getting ready to order a new Trail Edition and the negotiations have gone pretty well. We have come to terms with numbers I'm pretty happy with for both purchase and trade in of my 2011 Tacoma. Here's the tricky part. They don't know how long it will take to get the TE and say it could be up to four months. Therefore, they won't guarantee me the trade in value. This seems a little shady to me. I figure if I'm comitting to buying from them at a certain price, then they should be willing to do the same. At the very least, I would insist on the right to back out of the deal without penalty if I don't like the price they offer me when the vehicle gets here.

Anyone have experience with a trade in when ordering a new vehicle? Any thoughts?

Thanks in advance!

Seriously? I hate to stand up for a dealer, but to expect them to guarantee that is just, well, quite unrealistic.

Perhaps you could get them to agree on some sort of sliding price scale based on x or y or z miles. That's a tough one, I'd look around to other dealers and find a TE.

 

[jerlane]

Of course I'm not looking for a guarantee, but some parameters would be nice. Otherwise they could come back with a lowball offer and I'd be stuck.
I agree that some sort of scale for mileage would be nice.

 

[GrantK]

Get them to agree to the price of the T4R and trade-in as separate items and if they try to gouge you on your trade-in when you pick up your T4R, just sell it your self. Chances are they really want your trade-in (that's were the profit is) and unless there is a legit reason won't play games when you pick up your T4R.

 

[Ian97]

Just sell it yourself....I had a buddy that bought a 2011 Tacoma, put 1k miles on it, decided he didn't like it at all, sold it for within $500 of his purchase price....sure, he took a bit of a loss but I'm sure nothing like the beating you're going to take on a trade in....just my $.02....

-Ian

 

[fxoffroad]

Just sell it yourself

X2 :thumb3:

 

[philsey]

Just sell it yourself....

X3. I buy a new vehicle every 2-3 years, and I always sell my old one privately, and I usually get ~$2K more than offered on trade. I have a family member who works for a large dealership, and he tells me the used car dept. is where they make the big money.

 

[Ukie]

Looks like there are too many variable involved into this deal. Try reducing number of variables e.g. finding TE somewhere and not wait 4 month, encourage dealer to get TE for you without any deposit/paperwork, etc.

Just sell it yourself.

Don't forget a state sales tax. You are not paying a sales tax on your trade-in value (at least in PA).

 

[Ian97]

X3. I buy a new vehicle every 2-3 years, and I always sell my old one privately, and I usually get ~$2K more than offered on trade. I have a family member who works for a large dealership, and he tells me the used car dept. is where they make the big money.

Just for comparison, here is the 2007 I had a deal worked out in OKC if I could have made it there in time before he traded it (I'm in Tulsa, 100 miles away), I had a deal for $14,100, check out the listing at Carmax in OKC, where they bought it outright from him for $14k. Look at the "potential" money they stand to make from it....

http://www.carmax.com/enus/view-car...398+15&Q=007057a7-3494-49a1-9f75-5dcb8e75fe3a

-Ian

 

[jerlane]

Thanks for the thoughts so far. The reason I'm considering trading in versus selling it on my own is that I would have to sell it for at least $2000 more than the trade in price when you take into account the potential tax savings. That is always an option if I don't like the price they offer. The four month estimate is being conservative. I'm really hoping it won't take that long. I'm still negotiating with a few other dealers, but I would like to get the wheels turning (pun intended) soon, since I know it will take a while to get the vehicle I want.

Thanks again!

 

[Barry694]

Trade In

Just about all Car Dealers Sales agreement include on the back of the form that the price of the trade-in vehicle is subject to adjustment if the trade actually does not take effect at the time the deal is made on the new vehicle. The car prices for trade-in's are basically subject to change every day as they usually base the trade in price as to what your particular vehicle with your amount of miles is selling for at the auction yards in your area on a given day. Kelly Blue book prices do not apply to trade-in's with dealers.