Trade in Value

[VtechISfun]

Guys i know this might sound like a pretty ridiculous question and moreover stupid but i've been pondering at it and was wondering if anyone had an answer...

What happens when you go to a dealership and you trade in a vehicle that's like twice the price of the one you wanna buy... so let's say ur trade is worth 24 and u're buying something that they want 12 for.. what happens in that situation?

if you must flame please just refrain from things like zOMG ****IN NOOB and so forth.. be constructive lol

[NJGOAT]

The dealership hands you a check for $12k.

[VtechISfun]

Originally Posted by NJGOAT

The dealership hands you a check for $12k.

yeah i don't think that's what happens.. i've never heard of anything like that before.. but obviously that's the first thing i thought..

but then again i could be wrong... anyone else think they give cash back or has heard of anything like that happening?

[OptiCon]

I image there are no set rules. You bargain until your are both happy with the outcome.

If the dealer can stand to make money on your vehicle they probably won't have a problem handing you a check for the difference.
Of course, you'll never get what your car is REALLY worth on trade at a dealership.

[ToTheIX's]

if you owe nothing then what other option do they have ?......but if your talkin about getting 24 for the evo id say think more along the lines of them offerin you 20-22 ......especially if you owe nothing....mine has 5000 miles and all ralliart parts....they only offered me 23 for mine at first

[NJGOAT]

Originally Posted by VtechISfun

yeah i don't think that's what happens.. i've never heard of anything like that before.. but obviously that's the first thing i thought..

but then again i could be wrong... anyone else think they give cash back or has heard of anything like that happening?

You don't hear about it happening for two reasons:

1. Most people buy up, not down. They generally trade in an old car with a lower value on a new one with a higher value.

2. Most people carry a debt balance on their car, so their trade in usually doesn't do much more than pay off the loan balance.

In the scenario you laid out:

- You and the dealer agree that your car is worth $24k and they will buy it.
- You owe nothing on the car.
- The car you want to buy from them costs $12k (we'll assume that includes tax, title, license, etc.).
- The dealer would hand you a check for the difference, or $12k.

You don't even need to buy a car from a dealer to trade one. Dealerships are in the business of buying and flipping cars and the bulk of profit for a dealer is in the used car business. A good used car is worth a lot to them. If you pull up in your car and you and the dealer work out the price, you walk out of the dealership with the money for the sale of the car (after any liens are paid off).

Of course they are going to try and low ball you, but that's just business. Remember, whether the dealer is putting the cash into a new car you are buying, paying off an outstanding loan, or just handing you a check, it is all the same to them.

[VtechISfun]

Alright sounds good... thanx for the input Goat

i was just curious... i'm not actually gonna do it dealerships r bull**** low ballin' the **** outta u.. so screw that

[GyrlSpeedRT]

Seems to me like they would try and get you to buy something more expensive, that way, you'll still owe them(their bank). Other than that what NJGoat and OptiCon said.