If a car dealer advertises "$10,000 min for your trade" can I really expect to get $10,000 off the car price?

Question

I'll be trading in my truck for a new one. I own the truck and, for lack of nicer terms, it has seen better days. KBB value is less than $2000.

Answer 1

yeah then you get hit with negative equity

Answer 2

Yes....... However expect to pay above the asking price of the vehicle you want to purchase. Example, for argument's sake, your car is worth $1000, the car you want to buy is $11,000, in order for the dealer to give you (or show) 10,000 for your trade, he has to charge you 20,000 for the car. The dealer is working on the TRADE DIFFERENCE, not the perceived value. All he is doing is appealling to your GREED FACTOR, because everybody wants "the deal of the century". The dealer got your attention through advertising. So in closing, always do your homework before going into a dealership, and do not have unrealistic expectations. By the way, I sell inexpensive used cars in a small, but very personable dealership, and if a deal is too good to be true, it probably isn't.

Answer 3

it particularly is a throwback to the corrupt previous days, except you and the broker are reason on committing tax fraud and doctoring the workplace work and accomplishing business enterprise "under the table" as quickly as upon a time this replace into straightforward place. in spite of this funds DOES say i could purchase good now and that i will save each and every keep interior the city/state till i'm getting a deal that fits me. no person ever mentions Kelly Blue e book on those questions, yet i'll, properly NADA particularly, look up the motor vehicle you have an interest in interior the present month and examine own loan and commerce-in. in case you ar watching an entire sized van follow own loan fee and hit it for miles upload for any genuine fee applications you detect, if it particularly is a mini-van then its between own loan and commerce comparable regulations.As constantly get a mechanic to examine it earlier you purchase it. sturdy success!!!

Answer 4

No way! They always rip you off with trades. Best thing is to sell the car on your own then take the cash and put it as a down payment towards your new car. Sometimes this is logistically difficult, though, so you just gotta trade it in. They take care of the sale, however, so you are kind of paying them for the service.

Answer 5

If it sounds like a duck, walks like a duck and looks like a duck, its probably a duck.

The dealer could care less if you throw in a trade after you get a cash price, they will just offer you $250 for your truck and tell you its a wholesale to wholesale deal.

Good Luck,

Answer 6

Yes, but don't expect them to give you a deal on the price of the new car! You should make your best deal first, and THEN tell them you have a car to trade in.

Answer 7

You answered your own question. You know a dealer can't give you 10K on a car worth 1K. It's obviously a scam.

Answer 8

I doubt it...Recently traded in my 2000 Dodge Durango w/ 67k on it...impecable int/ext worth at least 10500 privatley sold and only got 6500 trade in...if you are expecting to get what its worth...you are dreaming

Answer 9

Yes... then they'll jack up the new car price by $8000.

Answer 10

No. Read the fine print.

Answer 11

There's probably "small print", which means the answer is No.