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Trading down for a vehicle

BigBake

BigBake

Well-Known Member
Mar 17, 2006
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Yes, I know. Rarely if not ever a good idea so spare those replies. For various reason I don't want to sell it outright or trade for a more expensive vehicle.

Anyway, anyone ever successfully traded down in value for a vehicle and not gotten hosed? I'm no where close to upside down so I stand to walk away with a good chunk of change I'd like to use elsewhere. I like the vehicle but I'm looking to downsize.
 
I've never done it but I'd assume you're going to take even more of a beating on your trade than if you were moving up. I'd really consider just selling it.
 
I actually just did this a few months ago. I traded a 2011 GMC Acadia for a 2007 GMC Yukon Denali XL. I basically upgraded vehicles and eliminated my car payment at the same time. It's really no different than trading in a vehicle for a more expensive 1. As long as you do your research and print off the Kelly Blue Books for each vehicles then you won't get screwed. The nice thing about doing a dealer trade you won't have to pay any taxes since the trade in vehicle is worth more. I ended up saving just as much on taxes as I would have if I sold my Acadia on Craigslist for a higher price.
 
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JWIL4CY said:
I actually just did this a few months ago. I traded a 2011 GMC Acadia for a 2007 GMC Yukon Denali XL. I basically upgraded vehicles and eliminated my car payment at the same time. It's really no different than trading in a vehicle for a more expensive 1. As long as you do your research and print off the Kelly Blue Books for each vehicles then you won't get screwed. The nice thing about doing a dealer trade you won't have to pay any taxes since the trade in vehicle is worth more. I ended up saving just as much on taxes as I would have if I sold my Acadia on Craigslist for a higher price.
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Did you work with a metro dealer on that? Yeah, definitely have my KBB/NADA values close at hand for the deal.
 
BigBake trading down will work at an honest dealership. You, of course, realize you will pay retail for what you purchase and receive wholesale for your trade.
 
iowa_wildcat said:
BigBake trading down will work at an honest dealership. You, of course, realize you will pay retail for what you purchase and receive wholesale for your trade.
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Yeah, the TI v Retail part I expect. Although I won't go crazy on what they get for retail. On the plus side I have the luxury of not being forced in to having to sell. I can easily just hold on to what I have and walk away.
 
Find a Carmax to sell your current one to. I think KC may be closest. They'll give you KBB price. Then go buy what you need. Do not try the trade. You'll get ****ed.
 
BigBake said:
Did you work with a metro dealer on that? Yeah, definitely have my KBB/NADA values close at hand for the deal.
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If you are going to get KBB/Nada values get them from your banker, not off the internet. The books the bank uses have additional values not available online to the general public. Also, on the car you are buying, ask your banker what is the maximum amount of money they would loan on the vehicle and use that value to negotiate. Often the loan value is less than KBB/Nada and the retail price on the car.
 
BigBake said:
Yes, I know. Rarely if not ever a good idea so spare those replies. For various reason I don't want to sell it outright or trade for a more expensive vehicle.

Anyway, anyone ever successfully traded down in value for a vehicle and not gotten hosed? I'm no where close to upside down so I stand to walk away with a good chunk of change I'd like to use elsewhere. I like the vehicle but I'm looking to downsize.
Click to expand...

I'm with you. I can't do it. I had(still have) a pretty nice vehicle in LA when I was there, but can't even get "Fair" KBB value for it in Denver right now. Obviously, 4x4 are very popular in March during ski season, but still, it's difficult to trade down without totally losing a lot of (perceived) value.

I don't have any advice for you. I'm just trying to wait for summer to see if it gets a bit better. If it doesn't I'll realize what it is. I'm not sure what you can do, I'm just posting to say I've had the same problem.
 
I really don't understand why you wouldn't try to sell the vehicle yourself first. Or go to carmax the and see what they'll give you for the car.
 
dmclone said:
I really don't understand why you wouldn't try to sell the vehicle yourself first. Or go to carmax the and see what they'll give you for the car.
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I tried going the CarMax route last summer and found them to be as big a ripoff as dealerships or used car lots. Ended up selling on Craigslist.
 
2ndCyCE said:
I tried going the CarMax route last summer and found them to be as big a ripoff as dealerships or used car lots. Ended up selling on Craigslist.
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Yeah they are not in the business of losing money on used cars so I would expect a lot more from using craigslist.
 
Yes, i Just did this about 6 months ago and it was a great idea! I had a 2010 Ford 150 XLT Extended Cab. Was costing me about $900/month with payment, insurance, gas. I traded it in for a 2012 Ford Focus Hatchback which cost me a total of about $300/month. Once i got over the pride thing, all is well, esp the $$$$$
 
2ndCyCE said:
I tried going the CarMax route last summer and found them to be as big a ripoff as dealerships or used car lots. Ended up selling on Craigslist.
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Carmax has always been dead on the kbb.com values. I've sold 9 of my cars to them and one of my mom's cars. Getting that out of the way rips the legs out from under the thieving lying car salesmen.
 
Tedcyclone said:
Yes, i Just did this about 6 months ago and it was a great idea! I had a 2010 Ford 150 XLT Extended Cab. Was costing me about $900/month with payment, insurance, gas. I traded it in for a 2012 Ford Focus Hatchback which cost me a total of about $300/month. Once i got over the pride thing, all is well, esp the $$$$$
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I did the same about 2 years ago, trading a 2004 F250 King Ranch for a base 2012 Honda Civic. The payment of the new car was less than the monthly cost of diesel for the truck. All said and done, it was like getting a $250/month raise plus a brand new car.

All anyone would give me for the trade was what I owed, which was about $4000 less than NADA/KBB online values. I talked to many dealers in DSM and Ames, looking at multiple gas-friendly compacts (not just Hondas). Then of course just to rub salt in the wound I drove by the dealership a few days later to see what they were asking, and the sticker was $8000 more than they gave me for trade (the same that I'd bought it for a couple years earlier).
 
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TXCyclones said:
Carmax has always been dead on the kbb.com values. I've sold 9 of my cars to them and one of my mom's cars. Getting that out of the way rips the legs out from under the thieving lying car salesmen.
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I found them 10 to 15% below KBB and told them to stick it.
 
dmclone said:
I really don't understand why you wouldn't try to sell the vehicle yourself first. Or go to carmax the and see what they'll give you for the car.
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Because I didn't know Carmax operated like that. They just opened this year.

I don't want to deal w trying negotiate a 25,000 risky payment from an individual or all the other crap.
 
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