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Trade in value?

Discussion in 'Dealers & Pricing' started by princessprius, Jan 5, 2014.

  1. princessprius

    princessprius Junior Member

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    Wondering what you got for your trade in.

    I just spent Saturday afternoon at the dealer, the same dealer I bought this car from and they service it as well.

    I have a 2010 III with nav, 67000 highway miles, garage kept, nearly perfect condition.
    They offered me 10,500.
    Needless to say, I was floored. Edmunds has the trade in value $4000 higher.
    I got him up to 12,500 but that still seems low.
    He said that they can get them really cheap at auction now because there are a lot available and speculated it might be because of the sale. He also suggested that Edmunds' data might not be current.

    I've always been impressed with this dealership, now I am doubting.

    So, what do you think? How bad of a lowball is this really?
     
    #1 princessprius, Jan 5, 2014
  2. car compulsive

    car compulsive Active Member

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    I just did a trade-in valuation on my car on both KBB and Edmunds and, for once, KBB was a little lower than Edmunds - $13.9K v. $14.1K. In the past, I've usually found Edmunds to be much lower, and the one dealers always liked to quote. Being that I bought gas yesterday for only $3.199, I'm not surprised that demand for high MPG cars is down.
     
    #2 car compulsive, Jan 5, 2014
  3. bisco

    bisco cookie crumbler

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    the fact that he came up two grand with a little prompting tells me that he's trying to low ball you. that doesn't make them a bad dealer, you have to shop around for the best deal to find actual value. and of course, it depends on what they want for the new model you're looking for. as cc says above, gas prices have a lot to do with the demand for hybrids, and demand drives value. but if yours isn't worth much, neither is a new one.
     
    #3 bisco, Jan 5, 2014
  4. doglegleft

    doglegleft Junior Member

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    I agree with this sentiment. Another thread on new Prius pricing indicated that new 2013 2's and 3's were going out the door from $21k to $24k. I am in the market for a Prius and am having a hard time assessing the market. Sellers are asking prices ranging from $16k to $19k for 2010 thru 2012's with mileages ranging from 35k to 60k. Gas prices have fallen, hybrid competition has increased, and there does appear to be an increase in used Prius inventory. I can't see myself pulling the trigger on the current used prices for Gen III's.

    My guess is that there is at least a one month lag in the price histories used by the Edmunds of the world. It will be interesting to see if prices are softening.

    To the OP, you should equally play hardball on a new Prius and shop around. I don't know your situation but I wouldn't be surprised to see your 2010 fetch $14k in a private sale.
     
    #4 doglegleft, Jan 5, 2014
  5. princessprius

    princessprius Junior Member

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    Thanks guys,

    It actually took a lot of time and haggling to get him up to 12,500.

    If I trade it in, I only have to pay sales tax on the difference, not the full price of the new car. That adds a few hundred compared to a private sale.

    I'm really disappointed because when I bought the car initially, they didn't use these typical tactics.
    Which is why I liked them, they seemed to be straightforward and low pressure.
    But I didn't have a trade in last time.

    We came to a verbal agreement on a three for $24K (after rebate/ plus tax, tags, fee), but they can't get the color I want until Monday.
    I didn't sign anything, but I did leave a check... regretting that now.
    Going by to see if I can get it back today so I can look into other options.

    I hate car dealers and am not looking forward to dealing with more of them.
     
    #5 princessprius, Jan 5, 2014
  6. Fore

    Fore Don't look back!

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    I know it freakin sucks! I too thought this car of the future would hold it's value, NOT! I traded in a beautiful 2007 Toyota Tacoma for this fast depreciating vehicle. My 2007 truck believe it or not increased in value. Go figure! I feel like I'm stuck with this car because I can't justify taking that big of a hit in deprecation. Oh yes, I'm well aware of the mpg's in savings, but that's just about it.
     
    #6 Fore, Jan 5, 2014
  7. bisco

    bisco cookie crumbler

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    go down to the bank tomorrow and cancel the check if you're concerned. if it makes you feel any better, i don't thinks the prices are that bad, but it's your decision to buy or wait. all the best!(y)
     
    #7 bisco, Jan 5, 2014
  8. doglegleft

    doglegleft Junior Member

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    Are you negotiating on a 2014 or a 2013? I would think $24k on a 2014 Prius 3 and $12,500 in trade for your car would be a fair deal. If you are negotiating on a 2013 I would push for at least another $1,000 either added to your trade or off the sell price.
     
    #8 doglegleft, Jan 5, 2014
  9. princessprius

    princessprius Junior Member

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    This is for a 2013, I'd be driving it now if it was a 2014.
    They want another $2K on top for the 2014, but the '13 has a $1500 rebate which accounts for most of that.
     
    #9 princessprius, Jan 6, 2014
  10. princessprius

    princessprius Junior Member

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    After sleeping on it and talking it over with the hubby, I've decided to get a four instead.
    The guy today wasn't aware of all the negotiations and quoted me a slightly better price. But they can't get the car until tomorrow.

    I also found a couple online at other dealerships, so looks like I will be making the rounds tomorrow, including a stop at CarMax to see how much they would pay for my car.

    Thanks for all the good advice. :)

    I'll post here when I get my new car.
     
    #10 princessprius, Jan 6, 2014
  11. princessprius

    princessprius Junior Member

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    CarMax gave me the same price that I negotiated with the dealer.
    I also shopped other dealers, the prices they advertise on the internet are bogus.

    So, even though I'm annoyed that my dealer tried to low ball me, in the end I got the best deal I could find.

    I am now the proud owner of a 2013 Prius four :)
     
    #11 princessprius, Jan 7, 2014
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