How to get a good trade-in deal?!

Id sell private party, the fact you want not only a 2024 but a 2024 Pro you will be at the dealer's mercy whatever deal they offer you'll have to take cause if you dont the guy behind you wanting to snag one will, just will be the name of the game with a highly sought after new model.

 

Its not necessarily about a deal, its mostly about how much they can possibly give me for my current truck to bring down the price of the new one.

 

Right I understand what you mean, just pointing out that the 24 Pro is going to be highly sought after so it's likely you will get screwed on trade in.

 

This ^ and guarantee you are at least paying MSRP if not ADM.

 

Youre right. I never thought about that lol oh well i might have to break the bank a little lol

 

Sell private and then buy

 

I had just moved to a state with off-road space, and I had planned to replace my 2007 Corolla with an off-road vehicle. Else I would have kept my Corolla running until it died.

Buy when you need a replacement for your current ... my opinion. But it is your money.

 

I can’t blame ya, most dealer experiences are shitty enough, without having to deal with John Q Public.

 

There are 3 prices on most used vehicles, trade in lowest, private seller and dealer retail.
The advantage of trade in is not dealing with people wanting to low ball you, deciding how to deal with test drives and dealing with people follow up if they can't get financing.
It can be done. Always check what you have with Edmunds, NADA for pricing.

 

In Washington state taxes are becoming higher and higher. Trade-ins reduce your tax burden for the entire deal. Truck price is 56k and your trade-in value is 30k, you only pay taxes on the difference, 26k. If you were to sell it on your own for 33k and then buy the new one for 56k you will be paying taxes in the entire 56k. The 3k you got from selling it yourself might not make up the difference of the taxes paid on 26k.

In general you well get better money for your vehicle if you sell yourself, but is it worth the hassle or you might even lose money. I usually think it isn’t worth the hassle and trade my cars in. My state helps with the taxes in that way.

 

Try and sell it yourself first

 

I need to start a business where I just follow around TW members who are going to trade their trucks in. Dealer offers you $XX on trade in. I hand you XX in cash +$500. I make money, you make money, dealer, not so much.

 

Not a bad idea!

 

I've done it on a relatively small scale twice with friends and fam. This issue is friends and fam get butt hurt when they see me sell it for market value (flip it) for relatively little effort. Not worth it when family is involved. Which brings us back to recommending you never trade in a vehicle.

 

Well, I’d say they’re unrealistic, you take the risk? You take the rewards.
but you’re right, best to leave friends and family out of it.
Actually I can speak from experience- my best friend of 40 years passed away unexpectedly, and left me some things, one of which was a vehicle. I was dead set on keeping it, but after I drove it for a while and knew what my buddy would say (“sell it, you don’t need 3 vehicles”), I elected to sell it. Another good friend was a very successful car salesman in his former life offered to sell, since to there was emotional attachment. He had it sold in a two days for nearly top dollar, since I’m not a POS, I insisted he take $500,,, even though he insisted on doing it for nothing.

 

Private is a good idea, but sometimes timing calls for a trade-in. I've traded in a few vehicles and the biggest thing I noticed, is you can usually get them to give you $1000 extra during negotiation, but you have to make it sound like that was a deal breaker to begin with... "25150 isn't enough, my wife told me no less than $26000" kinda talk. Also, everything not attached to the truck gets removed and never spoken about. They don't care about the extra mats, or the spare taillight, or the aftermarket sound system. They care about the VIN, kms/mi, and visible damage, including windshield. Toyota is the biggest car company in the world and if it's a big dealership, they don't have the time to care about you or your vehicle.

EDIT: they start caring after you have picked something new to buy haha

 

Tangential question regarding trade-ins:

My Tacoma was the first car or truck I've ever owned that I didn't pay cash for. Initially, I received a clean title with no liens from the DMV. A few days later, I began receiving calls from the lender I'd refinanced with.

The lender had messed up, and did not properly record the lien -- they'd sent me the title which appeared to show me as the outright owner. They tried to gaslight me into believing I'd committed an error at some point in the process. I had a new truck and the title -- no problems here lol.

I expected that if I were to send the title back, the lender would place the lien and send the title back. Apparently this is not the case in Oregon. I wonder what would have happened if I had attempted to file for bankruptcy while holding the title.

The unexpected problem that arose from all this was the realization that the truck could not be sold via private sale -- the only way to clear the debt was to go through a dealer who could work directly with the lender. Who wants to buy a $30,000 truck on FB Marketplace with no title? I assume the lender would have eventually got the DMV involved and got the title back, but the fact that a physical title can not be held in certain states dings the resale value a couple grand right off the bat (because it must be traded into a dealer -- hardly ever the best deal).

Does anyone know a way around this? I don't plan to sell the truck but suppose I did -- how could I close a private sale without a title, even if it had a lien that I intended to pay off that same day?

 

If it's your only vehicle why trade it in or sell it?

Buy another & have 2 vehicles. Having a paid off vehicle in this economy is more valuable than the actual monetary benefit of trading or selling it.

Think of the "two is one & one is none" concept.

What if you.....
Wreck the new truck?
Lose your job?
Economy goes tits up?

With a paid for 2nd vehicle you still have a ride...
Otherwise you may lose the new financed truck.

I have no clue as to your situation, but I'd never give away a paid for vehicle to acquire more debt.

 

This is good advice. Google your state tax rate on new car purchases. Add this to your trade offer. That is your real 'trade in' value.

 

Spot on... Expect a market adjustment. I bet Pros will be in the mid 60s if not higher