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Reasonable Trade In Value?


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So I am considering biting the nail and trading my Spark in for another vehicle... Been looking on KBB and for my vehicle in excellent condition they say I could expect 10,500. I've heard other on here were only offered 9,000. My question, how close to a KBB value do dealers follow? I believe mine is in excellent condition due to very low miles (7,200 miles and a year of ownership) and there is no nicks, scuffs, scratches or dents. Any expire nice past or present with this area??

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You can expect the salesman to ridicule KBB, Edmonds,NADA, or any other figure you bring in. These guys have the morals of a purse snatcher. The amount they will allow you depends on a lot of things, condition, mileage, color, accessories, believe it or not, even the area you live in. You have the mileage in your favor, I don't know where you are located, but Kelleys is showing my 2LT at 12K, just to illustrate the difference. You've had the car a year, so you probably lost at least 20% off the sticker, the minute you signed the agreement. Another factor is what are you spending on the car you are buying? They will allow you more on a car that costs 30K, then they will on a car that costs 17K, simply because they have more wiggle room. You need to allow for these variables, and come up with what you think is a fair price for your car, allowing for depreciation. Leave yourself a little wiggle room, and be prepared to slug it out. They are going to start at rock bottom, but they will come up, the thing is, show interest in the car you like, but not excitement. You will probably get your best price from a Chevy dealer, because they can't tell you all the bad points of your car. Personally, I think 9K is way to big a loss, on only one year of ownership. Keep us informed....

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You can haggle your trade in value, but do this after your already finished on the final price on the new car. Some dealers are more willing to do this than others. Target trade in price should be somewhere near private party value. You can also argue what used Sparks with more miles are selling for. Prepare to visit several dealers, starting with emails on prices of the new cars. Don't mention trade in when getting prices on the new cars, if asked directly, just say your not sure about trading in, vs selling it yourself. This tells them your looking for top dollar private party value. Also be willing to travel to other areas for better prices.

Edited by austex04
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  • 3 weeks later...

The best thing to do, is get an appraisal at Carmax first, expect them to low ball. My LS with 9500 miles was appraised for $9000, the cool thing is that once you have this sheet of paper, whatever dealer you go to, will have to maneuver around the Carmax offer. One thing to remember is to absolutely reject any offers from dealers who would have you sell your car to Carmax instead of matching or besting the Carmax appraisal, if they bring that up, take your business elsewhere.

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  • 3 weeks later...

I don't know about other places, but in the Phoenix, AZ area, dealers will offer you WAY less than the car is worth, and maybe come up a little, but nowhere near what it should be. Then when they write up the deal on the new car, they will find a way to get back most of what they offered you on the trade. I have traded 2 cars in my life, and got ripped off big time. Now I always sell my cars privately. Craigslist makes this a lot easier than it used to be. You may not get what the car is actually worth, but you will get a lot more than most dealers will give you, usually a few thousand more.

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A private sale will certainly always get you a better price if you do it carefully. Stick to your 'low point' price, be willing to spend some time and do it with some 'flare'. A dealer can get a bunch of daily rental, low mileage, current year Sparks for $8K or less from a rental fleet turnover sale or auction. They will usually mark them up to around $13,899 expecting to sell at $13K with the buyer feeling good thinking they got a great deal having knocked the dealer down $899. Make sure your car is spotless inside and out, use some tire shine and clean the engine compartment to new condition and rave about how much warranty is left to calm any worries. Be prepared to answer "Why are you selling the car?" and don't say it's because we don't like it...K?

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