2006-12-09 09:34:44 · 7 answers · asked by LastManDancing 2 in Cars & Transportation ➔ Buying & Selling
Why? Is it a secret?
2006-12-09 09:41:05 · answer #1 · answered by Bondgirl 4 · 0⤊ 0⤋
Not all dealerships are liars. Going into negotiations with that attitude is entirely the wrong approach. The best thing to do is to keep the new car and your trade negotiations separate. Ask the dealership what the ACV (Actual Cash Value) of your trade is worth. Some states allow tax credit towards trades, so if your state is one of them, make sure they don't include it. As far as when to mention you have a trade, it really doesn't matter, unless you know your payoff is far greater than what your car is actually worth. If you wait to mention it until after you decide on the new vehicles price, it would have been a waste of time if you are unable to make up the negative equity. Doing homework on both your trade as well as the vehicle you want should be done before you decide to purchase, including knowing what your payoff is. Carmax will purchase your car regardless of whether or not you buy from them, so it isn't a bad idea to stop there as well. Websites can tell you what your car is worth, however they won't actually buy it. Keep in mind that this approach can be easier for purchasing a new car since invoice prices and rebates are posted on various websites. I hope this helps.
2006-12-09 14:27:28 · answer #2 · answered by The Auto Evaluator™ 7 · 0⤊ 0⤋
This is one of the FIRST things they want to find out from you, as it will affect your price on the new car. When they ask if you have a trade, say "no"
It's a lie, but you are dealing with liars, so don't feel bad telling them a lie.
When you have a deal signed, tell them you changed your mind and will trade in a car. They will try to change the numbers on you, so be careful. These people have NO second thoughts about taking advantage of you.
a good site to look at: http://www.carbuyingtips.com/
2006-12-09 10:46:01 · answer #3 · answered by Trump 2020 7 · 0⤊ 0⤋
It doesn't matter but always keep your payoff ( if you have one) a secret. What you owe on it has no bearing on the value of your trade in. They like to know so that they can work the trade in value around that, inplace of market value.
2006-12-09 09:42:39 · answer #4 · answered by Kiss My Shaz 7 · 0⤊ 0⤋
after you have found the car you wanna purchase an git the bottom price an monthly payment all on paper then tell him you think you would like to trade in your car
2006-12-09 09:43:23 · answer #5 · answered by peewee276 2 · 0⤊ 0⤋
after the final price of the car is settled...IN WRITING!
bring it up before then, and you might end up paying too much for your new car.
2006-12-09 09:42:45 · answer #6 · answered by morequestions 5 · 0⤊ 0⤋
You shouldn't! Sell it outside the dealer and you'll make a lot more $$$.
2006-12-09 09:43:04 · answer #7 · answered by irish_giant 4 · 0⤊ 0⤋