I have customers every day tell me that their trade in is worth $2000 more across the street. Let me tell you why it is worth more there. It is called trade allowance, what is allowed on your trade. When a car is appraised it is given an (ACV) Actual Cash Value. The ACV is going to be pretty much the same wherever you have your car appraised. Now say you are buying a $29000 used SUV that is marked up $4000. I can show you that your car is worth $2000 more, take $2000 from profit, and still make $2000. You can juggle the numbers any way you want, but always look at the bottom line.
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1 comments:
Great point. On the rare occasion that I do a trade, I make sure that I negotiate the new car purchase before discussing the trade in value. That way I avoid the numbers game and maintain control in the negatiation. If the dealership balks, I walk away. Of course, this is easiest to do when you are paying cash and aren't upside-down on the trade-in
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