Trade-in advice???

[shaggy]

Can any dealers here offer any advice on how not to get screwed over when it comes time to trade in our current cars. I'm just afraid that with the low availability and high demand for the Machs that some dealers may really try low ball. What have they got to lose? You either accept their terms or walk away from the Mach.

[1MeanGT]

Trade-in for a Mach 1 = screw job

That's why I'm selling mine on my own.

[Five Oh B]

In many states you get a tax-credit on your trade-in. In Washington, for example, you only pay tax on the difference between the selling price of the new car minus your trade-in value. With our 8.8% tax rate, let's say you trade in a $20,000 car. You save $1,760 in sales tax on the Mach1. If you sell your trade privately, you'd have to get $21,760 just to match the dealer's $20,000 offer.

So then, what's a fair price you should get from your dealer then? My best advice is to check at www.edmunds.com. Their True Market Value reflects actual transactions, whereas Kelly Blue Book over-values everything. Kelly is a great tool if you're buying a used car and need to convince your bank that it's really worth more than the loan!

Sell privately if you have the time to do so. Someone has to make the profit on reselling that car. Should it be you or the dealer? Only you can decide how much your time is worth to show and advertise your car. If your state has a tax credit, trading it in is very attractive.

[shaggy]

Thanks. The tax issue is the same here in Az that is why I may just trade instead of private sell. One thing I did a couple of years ago was I just took in to the dealer what their own website said it was worth. I didn't even have to pull it, they came back only $15 less. I was happy. When I traded for my stang though it was a different story with the used car glut caused by all the 0.0% last fall. This will be my 3rd purchase from the same-owned dealership in the last 2 1/2 yrs so I hope that can carry a little weight in my part.