Don't Get SCREWED On Your Trade-In | How Dealers Determine the TRUE Value of Your Car

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[CarEdge]

Find out more about the TRUE WORTH of your car:

[Ks]

I’m dealing with this for the 27th time in my years of buying, leasing, selling vehicles.. stores and auctions included.
My uncle is a gsm at Ford and he’s been a dealer since I was a baby but he always gives me solid advice.
You both are doing everyone a huge service.
Thank you.

[TheLifetraveler]

When I sold recently a 2013 Honda Civic with 82, 000 miles. This are the methods that the dealers tried. 1) Two of them offered me $7, 000 for the car. 2) The third one offered me $7, 500 for the car. 3) I was excited by the $9, 000 figure from the 4th dealer. But then he pulled out a piece of paper and started subtracting things like wear and tear, breaks, tires and so forth. His bottom line was $8, 200 for the car. 4) Did an online submission, with Carmax, and they offered $9, 500 for the car. But the online submission with Carvana, netted a result quote of $11, 000. So it definitely pays to shop around selling your car. From $7, 000 to start to finally $11, 000. That is more than a 50% increase.

[DavidLF]

I am so glad I found this channel!!

Got an email from Honda two weeks ago saying they wanted my 2019 Honda Fit. Before I went in to speak with anyone, I priced out my trade in value ON THEIR WEBSITE. Now I know things can fluctuate, but their website told me my trade in value was anywhere from 15k-18k.

Went in and they were only going as far to give me 13k, and only had "new" cars to put me in. I gladly left after the constant "let me talk to my manager", "how about if we", and "have you ever thought of a lease?".

Knowledge is power and I thank you guys for what you do!

[davidknaebe]

Great video. To your point, I went to a dealership to see what my truck would be worth as a trade in on a new (ordered SUV) as there were no new vehicles on the lot. They came back with a price $4500 less than Carmax. I told them what I could get from Carmax, and they said they could go higher but not match them. I sold it outright to Carmax for the higher amount. I will now negotiate a deal for a new SUV with cash in hand.

[Scrollbandit_]

you guys are quickly becoming my favorite YT channel. Love the vibe and you helped me negotiate on my latest BMW purchase! Not to mention, I'm a Baltimore boy, now living in Los Angeles, so Ray's mid-Atlantic accent is nostalgic!

[tammyeaton]

I’m just thinking my purchase may get jacked up by the same amount or MORE than my trade-in. It’s happened before-THEN I allowed myself to get roped into an extended warranty and interior/exterior protection package. Several years later, I let myself get talked into trading in a vehicle I COULD afford(and had really no equity in having been acquired a few months prior)in for a car I really COULDN’t afford. Moral of the story: it’s a great idea to have someone with you who is READY to pull you out by your ankles BEFORE doing something STUPID!!

[hawaiidoc]

Given the used car market right now, it makes much more sense to sell your old car on the private market. You make more money, your buyer pays less money.

[niknik]

Please mention that some states, like AZ, offer tax equalization on your trade in. You get the tax value of YOUR previous purchase discounted from the car purchase. Keep up the good work, you just helped me buy a Sienna.

[Ntech]

My trick is I have three friends call asking about the type of car I'll be trading in, each one asks about a different feature they would like to have then they tell me who they talked to and I wait about a week then when I'm ready to buy I tell them what I want for my trade-in and it usually works.

[eganfo]

Great information as always. I used your valuation tool and definitely approve. Knowledge is power.

[BostonCycling_]

I was amazed that the dealer didn’t even spend more than 39 seconds looking at our trade - I think they are just using averages and expect a standard reconditioning fee then aim to make around 1-2k in profit. . They did the entire valuation online and stuck to their price - we were happy with what we got for the most part

[karljaeger]

Always enjoy the great videos from you guys !!

[anthonyiannozzi]

Got a 2021 Tundra with 9, 000 miles. JD Power shows clean trade in is about $46, 000. The 3 Toyota dealers offered $41K, $40K and $38K! Pops, you guys are right on about how they are trying to steal the truck.

[boondoggle]

What I did when I recently trade in my car was I searched for how much the same make and model was selling for online, and how many miles those vehicles generally had on them. So I knew about how much my car would sell for. I went to Carmax for a quote and I also asked the dealer I was buying my new car from how much they would give me for it. Carmax offered me about $3K less than the price my make and model was selling for online, and the dealer offered me $6K less than the price that it was generally selling for online (and my car had a lot fewer miles, the interior still looked brand new, I kept up to date with all of the maintenance and recalls, and I had a topnotch aftermarket stereo with high end speakers, a subwoofer installed, and a backup camera installed which did not originally come with the car). Needless to say, I told the dealer that I was selling my car to Carmax instead.

[chadparkman]

U guys do a great job very valuable information to the the general public

[shawnperkins]

I’ve found Carvana recently has dropped their values for offer tremendously. Dealer offered me 27 for my 20 Ford Escape and Carvana offered $22, 800. Last year it was exact opposite for me.

[brokenarrow]

My wife stopped at a dealer to look at another expedition.They offered her $1500 for her older one. I went up the next day and we left with the same deal but I got $4500 for the older one. The manager was angry but got it done. I simply said I already have one I don't have to buy one tonight.

[csinalabama]

It used to be you could find a car dealer who would take your car on consignment, make 10% and profit on the back end financing. Usually they were the 2nd tier dealers. I don't know if those dealers are still around but I found it to be a good deal.

[Joshyie]

could u do an in depth on how to negotiate ordering a new car in a dealership, talking down the price and everything i need tips, for example like do a scat pack charger or something, do a car where the markup is crazy at these times