When you SHOULD NOT trade-in your car to a dealer! (Former Dealer Explains)

When you SHOULD NOT trade-in your car to a dealer. Visit Carmax, Carvana, Vroom, ALgo, KBB and shop the new car dealer too!

1. Vintage/Classic/Collector
2. Damage (2x the cost)
3. Way off brand
4. 20% difference or more retail vs trade
5. If the new car you’re buying isn’t being discounted substantially
6. The dealer has to “send the car to auction”
7. You haven’t checked with a third party buyer for the value there first:

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[mathewdistefano]

I traded in my car with about 2800 negative equity. Then the dealership never paid it out for over a month and I got charged two additional finance payments on the car I no longer owned. I called them after the first charge and the manager told me “it must be a check in the mail issue. Let me call you back.” Then never called me back. When I got charged a second payment, I went there in person and went off on them. It got paid very quickly after that and I was refunded my two payments. These guys are scumbags and are pulling out all of the old tricks with their desperation in the current car market apocalypse.

[grride]

A couple years ago I went to two local dealers for an appraisal on my leased Honda Accord Hybrid, then contacted Carvana for an appraisal. Carvana beat both dealer appraisals by almost $2500. Sold to Carvana and they picked up my car and handed me a check on the spot. Left that lease with a few thousand dollars pocketed. Very easy to deal with. 👍🏽

[baetourpilot]

Ari is legit. Don't bother watching other videos on car buying. Love the included summary. No BS included.

[Chinunit]

You should never trade your vehicle in, you will lose alot of money and get insulted as they will give you a Junkyard value for your good running and well taken care of vehicle.

[ranger]

Hi Ari! Happy Holidays. I always enjoy your vids. Is it getting on time to buy a 2021 Hyundai Palisade Limited yet? I like them a lot, but have been waiting for the supply/demand curve to flatten out. What are your thoughts?

[SG-szvh]

You forget to mention that in many cases trading in is better than selling privately as you only pay sales tax on the diff in the selling and purchasing price if you trade. Sell privately and you pay full tax on new car. So, depending on price of vehicles it may pay to trade

[alexander]

Miss you guy Merry Christmas🎄🎅🎁to you and yours stay safe as always.✌brother.

[TheBruces]

One good reason t o trade in, at least in Connecticut, is that you only pay sales tax on the actual sale price. The trade value is deducted from the sale price before taxes.

[grahamfuller]

on the flip side the best way to buy a used car for the best price is to buy it from a dealer where it is not their product. For example my company bought a 2006 BMW M5 With 8k miles form a Chevrolet dealer back in 2008. Got a great deal because it was not their product and because they probably did not give the customer the same trade in value a BMW dealer would

[platinumkp]

This video doesn't highlight the tax benefit of trading in to a dealer vs. trading in to a third party. For example, in Texas, when you trade in your car for a new car you get a 6.25% tax relief on the value of your trade in. So you would theoretically need an offer that is 6.25% higher from third party dealers such as Vroom and CarMax to be neutral. That could change decision making.

[jwyzebeatz]

I fxcked up trading my car in at the same dealership I financed my first car, so now I'm paying on 2 cars. Funny thing is I knew what was going on and that they were shady. I was just desperate for a 4wd SUV in the winter because of the job I do. I regretted that shxt right after signing lol. Now I'm here looking for a solution.

[newjerseyrocks]

You need to consider if there is a tax benefit to trade particularly if your trade is a higher priced trade.

[icycezar]

Sold my leased 2019 challenger to a dealership and they still haven’t sent out a check to the lein holder after a month. They bothered me so much about buying it now they are refusing to send out the check cause the car is “straight piped”

[bethmaccrindle]

Though I’d normally take your advice on your last point, Covid was the reason we just took the trade offered. The deal was totally separate from the new purchase, and we received $500 less than what we wanted for the trade. The sold it at auction supposedly for not much more.

[superbird]

Is it better to include all accessories you have with the trade in? Will they put value on winter tires with rims, winter mats?

[BrandonFinleyx]

If your car has a problem, and you trade it in without them noticing, i.e engine problem and two days later it grenades are their legal binds?

[bishoylamey]

Happy New Year!
What's an ideal lease on a charger scatpack wide body in California?!

[amedm]

I can attest to #7. I had tried selling, trading in a 2009 Toyota Corolla to the same dealership where I bought it from. Toyota was only offering 1K. I said no and went to Carmax and they offered 3K.

[joshuaminaj]

I have a 09 Mercury Mariner. A branch from Ford that no longer exist. Will that factor in the trade in value at all?

[fredEVOIX]

thx useful I have a small dent I was going to fix and wondered if driving to the dealership was a bad idea, clearly is so i won't I'll go on foot talk car price 1st funding ill come later especially as I'm not money short just don't want to deal with parking 2 cars which in my area would drain money fast