02MaximizedVQ

I was out looking at cars today and decided I'd ask another car dealership how much they would give me for my Maxima if I traded it in. I have a 2002 6spd that is in excellent condition and they said the wholesale value was $13,000!?!?!? I almost laughed in their faces!! I thought you got the trade in value anyway and not wholesale. Does this sound crazy to anyone else?

K Pazzo 6

iTrader: (6)

yea...try another dealership

jjs

Yes and no. Yes, seems rather low. No, they can offer whatever they like and if they have a glut of used cars anyway, they don't really want another.

blamb

Go to KBB.com, as well as NADA.com or EDMUNDS.com and take it bake to him and straighten him out or better yet move on to a less insulting dealer.

Newman

iTrader: (3)

no dealership is going to be honest with you right off the bat. obviously they want to stay low so they can make money off of it. so they're going to try you out to see if you'll accept the offer.

i remember when i was looking to get my first maxima i had an explorer for trade. they first offered me $3500! $3500 for a 4 year old explorer.

bert

If he low ***** you on the trade in, low ball him on the new car.

It really doesn't make a diff if you sell at 13 and by at 30 or sell at 18 and buy at 35, you are still financing the same amount.

Kojiro_FtT

Unfortunately, new cars are so cheap and have 0% APR, used cars don't sell for **** now-a-days. I wouldn't doubt if you get the same offer, or at least not much better, from another dealer.

All my friends that normally buy used cars have been buying new; heck a couple of them bought a new 2002 only to trade it in a year later for a 2003 model!

Jeff92se

iTrader: (82)

Did you notice on the lot what used 2002 maximas were going for?? So negotitate for something inbetween what they offered and what they are asking for similar used 2002s.

255HP_03_SE

You aren't going to get the 'book' value of what KBB says. Dealers use a 'black' book for wholesale on trade-ins. Your best bet is to sell it outright. Don't be surprised at low trade-in offers, 1) the economy is bad, and incentives to buy are at an all-time high (so who wants to trade in when no one is buying?), 2) the dealer has to make money, so they aren't about to give you the KBB value.

-R

DrVolkl

The dealerships aren't going to offer you much. The 2k2 just isn't selling for that much used. I see them all the time at 19k, which means the dealer will probably take 17k for it, so if they plan on making money on it, they're not going to offer us much for em...which is why I have to basically wait another 3 years before I can get my S60R. Poop.

00gxe5sp

iTrader: (1)

Here is an example of how much "wiggle room" delaers have sometimes...

went to look at RX 300's for my wife...

we didn't owe anything on our Xterra. Their first offer was us to give them them the Xterra plus $8,995, PLUS a $400 junk fee, plus taxes. In total, this would have been over $11,000.

AFter ALOT of negotiating...

We eneded up giving them our xterra plus $5,000....DRIVE OUT. (taxes and all included in the 5,000.

GhettoMAX

I was offered $16,000 for my 2k1 GLE AUTO (BASE) a month ago. (17,000 Miles)

gtbigup

thats going to be one bad *** car.Can wait till oct to test drive one.GO VOLVO But damn $36k

92 SE-R 02 SE

before i bought my 02 i knew i was NEVER going to sell it. Buying a car is the worst financial investment you can make. I bought my SE-R brand new in 92, and will never get rid of it. I bought the max brand new in july 02 and will NEVER get ride of it. I'll have my own nissan junkyark before i sell any of them...or just turn them all into racecars!

Maximam

GLE Base = Oxymoron!

GhettoMAX

well its a base GLE meaning no heated seats, TCS, Sunroof etc. etc.

Dave B

Why does everyone think they're suppose to use KBB? Try NADA because that's the only book to use. Banks use it too. KBB is used by the dealers because KBB is "dealer friendly" and gives low-ball numbers. NADA is adjusted by region and is updated quarterly. When it comes time to buy a new car, get the up to date NADA book (book stores carry it) and take it with you so you can SHOW the dealer what the REAL value is for your car.

nada.com


Dave

Jeff92se

iTrader: (82)

Actually in my experience:
Dealers use Nada for trade ins because it lowballs the offer. Banks use Nada to make sure they don't give a loan out on an overvalued car.

Dealer use KBB to SELL cars because it gives the top values for the car. I used KBB to negotiate the value of my wreck to get top value for the total loss value

Cutler

iTrader: (3)

NADA gives higher values on cars in comparison to KBB. I used it in selling my car and NADA was higher. hands down...

spta97

iTrader: (1)

I think the best thing to do is negotiate the price of the new car and tell them that you do not have a trade in. Then once you agree on a price tell them you changed your mind and you want to trade in your car. That way you can get an actual amount for your car instead of them fudging the numbers with the new one.

Pir8 97

Are you upside down in your trade? They'll often low ball you if they think you owe more than they can sell it for (ex. if you owe 21k and they can sell it for 18k then they have 3k to make up somewhere). Its basically a way for them to increase the price of the new car w/o telling you.

wild willy

iTrader: (10)

I'll give you 13,100

MaxAtack

$13,150 for your 6-speed

biged8

i just traded in my 02 gle for a 03 se titanium.i had 34000 on the 02 and got 16500 for it.the gle had nothing extra on it just base

MaxAppeal

you will always loose your a** on a trade! fact of life. if you dont like it, sell it on the street. period!

$13K is close to what you will get for a 2k2. used ones go for 17K-18K. remember, the 2k3's were going for under 22k NEW! yours is used and a year older! when you buy a car new, you keep it for at least 7 years unless you want to loose seerious $ on it. it's a depreciating asset. the first 3-4 years are a murder on depreciation of a new vehicle. in addition, the MAX has a terrible resale value! just the facts! if thats not enough, the all-new 2k4 is on the lot.

why is everyone so surprised at these trade in values??????

225hp_03_se -makes a great point. they have a special little book "black book" that gives them current wholesale values. all of these other sources just give you false hope: kbb, nada, edmunds, etc.

92sergxe??(apologies)- makes another great post! keep your car till the wheels fall off.

255hp and 92ser will be the ones with the vacation homes in jamaica when it's all said and done. cars dont count cause they are trashed and DO NOT BUILD WEALTH!!!!!

anyone that tells me that they can get 16K for their 2k1 gle, has no idea what they are really offering him. trust me, its (no gel) time when you talk price on a new car when you get 16k for that trade.

GhettoMAX

I was quoted 16K for my Max and you are right I have NO IDEA what they were offering me, because I am just a clueless, careless rich moronh. Thats why I bought a maxima in the first place I just wanted an daily commuter to relieve my Porsche.

Dont be ignorant, I said I WAS offered that much, but did you catch the "OFFERED" part? that meant I was offered not given that much meaning I never traded it in.

I was trying to get rid of the Maxima and since I was looking into buying a minivan (thats right not a SUV! sorry) I thought why not try to trade it in for an ODYSSEY I was offered 16K for the max (GLE-BASE-17k Miles) and quoted $27,800 for ODYSSEY EX-L-Navi (Factory Order). But if I traded in my 99 Accord (LX-AUTO 68K Miles) sedan I was offered $12.5K for it (I bought it for $16.5 back in 98) and ODYSSEY price came down to $27,500.

At first I seriously considered trading in my accord since I was getting screwed with the nissan resale value. But then I thought I would wait for the new sienna sales to start kicking *** and also the introduction of the new nissan Quest.

If you doubt my credibility any bit, kindly contact Greg Mckinley at Honda/Acura of Spokane, WA. (dont have the number handy but they have a nice website you can get it there)

vqman

but what did you "pay" for the 03 se titanium?

they could have more than made up for the extra money they gave you on the GLE by not taking off as much as they COULD have on the 03 se...


if you got the 03 SE for $2000 under invoice, then it might have been a "legitimate" 16500, but if you paid near invoice...it was an "enhanced" 16500....

no what I mean??

2002 Maxima's are in the paper in KC for $17000

-vq

biged8

i paid 22900 for the 03 se titanium edition and got 16500 for the 02 gle base with 34000 miles think that was a very good deal.that was in mid may

vqman

I think what the other guy was getting at, was that if they "offered" you 16000 for a 2001 GLE, they probably wanted to make you feel good about your trade, and then they were not going to discount the Honda minivan AT ALL....

they probably had $4000 or so to play with on the Odessy, so they jacked up your trade value, and weren't going to budge on the selling price of their product...

that's all he meant, and I think he was right.

peace...

-vq

vqman

that is a good deal...

well, depending on the options...what was the MSRP on the 22900 car?

-vq

biged8

i know im a cheap bohemian!and they threw in the 3m clear bra for the hood!but is the third max i bought from this dealer

UCF_94lude

I love when people say they will 'never' get rid of their cars when they own them. Nothing personal at all, because I've thought, and many others have thought, that they would 'never ever' sell their respective cars for the rest of their live. I will bet you in 5 years or so you will not own 2 of the 3 cars. ...and if you do.. then I will

biged8

28300 or so

jay beede

Hertz has literally thousands of 2002 SE all with 25,000 or fewer miles that they are selling for $15,995 --> $17,495 at their Hertz sales offices. They include a history of all repairs and service which makes for a cheap, fast ride. If it weren't for the $6000 off MSRP on new '03s that prevailed earlier this year I must say that I would have given the Hertz deal serious consideration.

02MaximizedVQ

Hey guys I appreciate all the advice. I had neglected to consider the state of the economy and all the incentives to buy a new car that drives the trade in values so low.

Anyway I did some research and here are the hard facts on KBB and Nada for my 2k2 6-spd with all options except Meridian package, HLSD and NAV with 15,000 miles.


KBB trade in Value-
Good condition ($16,795)
Excellent condition ($17,850)

KBB Private party sale-
Good condition ($19,335)
Excellent condition ($20,500)

NADA
Average Trade In- ($20,150)
Average Retail- ($22,925)

So as you can see, the dealership's offer of $13,000 was a low balling POS offer. When I traded in my Eclipse for my Maxima, I got exactly what the NADA trade in value was.

Jesse

MaxAppeal

i'm not trying to argue with anyone in this thread. just giving you straight forward advice and real life implications. if you cannot take this for what it is, then good luck to you and your wallet.


who cares what the dealer offered... it all depends on how much you pay for the 'new(er)' car. then you talk trade. you will then see how much you received for your trade. and this number will always be significantly lower than a street sale.


dealer can say i will give you 500,1000, or 2000 above NADA, KBB or whatever... this means jack! if he gives you a number you think is great based on your research of NADA, then you just paid more for the new one. see if he would buy the car from you outright, without purchase of new. he will not, and now (i sincerely hope) you see why.

one more time (& last time): the dealer uses an insiders guide "black book" with current wholesale values- not these other mass marketed guides!

if you do not see this logic, then the salesman just got himself a nice commission to pick a plasma tv.

nick778

Yep, from my experience, dealers do use the black book which is based on actual sale prices of cars at auction. The other books (i.e., KBB) use numbers based off of asking prices at dealer lots and newspapers. Even then, they may back off those prices depending on local market conditions and negotiating tactics. As someone said, always go in telling them you don't have any trade, negotiate the best deal and then say you have decided to trade. Not only will you know what you are really getting at this point for your trade but the dealer will have a lot of time, etc invested in getting your business and be more likely to make the deal work (i.e., give you a better price for your trade).
Cars are indeed depreciating assets and you can figure out what it will approximately be worth by looking at residual lease values from the outset. Most will be worth 48%-52% of the msrp after three years. If the car is heavily discounted and/or in abundant supply from the outset, it's value will be at the low end of this range or less. The first year is always the worst with depreciation being about 25%.
I see this all the time on corvette and other auto forums. For example, a one year old Z06 C5 that msrp for $51K is bringing $37K on the used private market. Don't ask what dealers are giving.

vito1281

When I was shopping for my Max, I had plans of trading in my '95 Accord LX V6. However, when I was price haggling, I was not mentioning anything about the trade-in. I wanted to get the lowest price on the Max first, and leave all the other variables out.

After I got the best price, I told the salesman that I decided to trade in my Honda...You should've seen him--he got mad at me for not telling him ahead of time that I'll be making a trade! I told him "what's the big deal", and he basically, subtly, told me that he wouldn't be able to give me as good of a price on the Max.

Anyhow, to make a long story short, they took a look at my car, and offered me something like $3200, whereas NADA avg. trade-in was like $6000, and KBB was around $4500. I ended up keeping the car and use it as my beater.

So I'll agree with the other people that you should keep your trade-in a "secret" and first negotiate the price of the car. This way you can get honest prices w/less BS.

WayneS27

THIEVES !!!
Went to trade in my beautiful '02 GLE. First the "Internet" salesman tells me how beautiful my car looks, how well kept it is, etc. and then he prints out the "FAIR" page from KBB with like $14.345 as Trade-In Value. Then his used car guy offers me $15,500. Trying to make me feel good. When I should get somewhere between $16,000. and $17,000. I owe $24,000. (NMAC Lease Payoff). And you wonder why car salesmen are STILL not trusted and nothing is changed since the BEGINNING OF TIME with car dealers. What an insult. I guess they think the PUBLIC is stupid & un-educated. Hey, everyone deserves to make a buck but GIVE ME A FAIR DEAL!

Y2KMaxGXE-R

iTrader: (4)

wtf are you all arguing about? There is no such thing as a free lunch. Dealers gotta make $$ period and will go out of their way to screw you over. Trading in vs. selling privately, spending money on mods, buying new cars make you loose money. Regardless of what has been said about keeping the same car "forever", this is total nonsense, noone does that. I just laugh at ppl who are driving old POS but "customized to own taste" and thus can't afford to get out of this vehicle. Dont let this happen to any of you.