Why Car Dealers will SHOCK You With Lowball Trade-In Offers
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- Опубліковано 20 січ 2024
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If KBB gives you $9200 and a dealer tells you $2500 on a single owner, no accidents and low mileage car - none of these reasons explain this kind of lowballing other than greed and dishonesty.
some years of cars are bad and loaded with problems. some years are way better. not that the dealer will give you any extra if you have a good year though.
Interesting. You left a few things out. There's a number of Car Value references out there, aren't there? I like to use KBB because it's the most accurate (conservative) reference out there that's available to non-dealers
Here in Hawaii, it's been my personal experience that every single dealer goes to the Manheim Market Report. Or, in one Toyota dealer's case he lowballed about 8% below that.
I was trying to sell my 2020 Ford Mustang GT Premium, Performance Package I with $11,000 in largely Performance upgrades and very low mileage, excellent condition, etc. Trying to sell private party here for a vehicle that KBB states is an average of $44K brings all the scam artists out. You should know that Mustang GTs are one of the best vehicles out there for keeping their value.
Anyway, finally got an exotic used car dealer to give me $2,000 less than KBB Trade-in value but over $1,000.00 more than any other dealer. NOTE: you should know that that dealer was so impressed with the condition of my car that he put it on the market for $12,000.00 more than he paid me and only several thousand less than a brand new Mustang GT Premium. I don't know if he ultimately got anywhere near his asking price, but he certainly made 10-15% more than I got.
Finally, the unfortunate thing about Hawaii is that there is absolutely no competition here. All the dealers are in cahoots. There is no huge used car buyers like Carvana that were giving a LOT more money for used cars. Remember? So yes, car dealers LOVE to see Trade-ins or used cars because their profit margin is greater than selling you a new car (unless it's a very rare/unusual/popular car then the will add thousands (or tens of thousands) of dollars to the MSR.
Depends - sometimes it's part of package with a discount on a new car. I generally hate car dealers, but you can't just tar everyone with the same brush. If you want top dollar, just sell it yourself.
Always base it off what the cars are selling for. If KBB gives you 9200 for trade in but they’re all retailing for 4800 at other dealers then why would anyone offer 9200?
Greed and dishonesty from a car dealer? Surely you jest.......
I remember getting 2k for a trade in. They changed 1 tire and tried selling for 9k.
3 months later still on their lot now at 4k
A dealer told me they can always start high and go low. But they cannot start low and go high. Made sense to me.
Love those happy endings!
Dealers always low ball on trade, they always try to steal your car first before you get the real offer.
When my parents were shopping for a new car the dealer lowballed them with a low ball offer of 1000 for their jeep grand Cherokee with a 14,000 blue book value. My mom’s response was to call me in front of the sales person and ask if I wanted to buy their old keep for 1000$. I said yes. They then told the sales man to not brother with the trade in and add 1000 to their down.
Why they lowball you on a trade, to make more money, duh.
Not as simple as that bro
@@Jetup24 No but it's the #1 reason obviously.
@@Jetup24yes it is lol, there’s no other reason for used car dealers but to rip you off… there’s no other way around it, I’ve been around people who flipped cars it’s all a scam, you can get better deals by doing it yourself
Truth its about the money
@@TheEnd-eg6wqif it’s not worth the number you want, why would you get that number?
Dealers do want to give you book value on a trade. But they use that book value like the gospel when selling you one. It's funny how that book value is only good when the dealer uses it, lol.
Yup exactly.
Never trade your car in always just sale it dealers will rip you off 2 times at once
Same old Smarmy Mike. His old page had advice like "be prepared to buy when you get to the dealership, don't waste the salesman's time". His advice now is "don't bother doing your own research, leave it up to the 'experts' to tell you what your car is REALLY worth". Hahahaha jeez louise
Just bought brand new 2024 instead of a used car. The difference in price was $6,000 plus all the benefits of full warranty. Research pays off
Same here, just purchased a new Toyota Camry. Hopefully it'll last me for the next 20 years.
I’ll quote most dealers: “If you don’t buy it then someone else will”. I understand where you’re coming from but, dealers got over on customers for 3 years and now they’re buried in their cars because of your own people. NOT ONE PERSON WILL FEEL BAD FOR ASKING MORE FROM A DEALER. Should have saved them MA and Dealer Addendum 🤡
The only offer that matters is your offer. Don't explain your offer, it's what you value your trade and the car you're trying to purchase, period. You can listen to a dealer but always dismiss what he says in favor of your offer. The goal is your offer and if that means wasting his time, so be it. You'll always learn something even when you walk out without a new car.
You're the boss he's not. Silence is a great tool, when the salesman asks you a question, you don't need to answer. When he tries explaining his lowball offer, walk away.
The man with the money holds the power 🐞
Actually it is the opposite. You have to back up your numbers with facts. Facts are adding weight in what you say. If you come to me and tell me hey I want X for my car you have to know that I will be prepared and I will know how much your car is really worth. And if that X number is a few universes away from the reality I will ask you how did you came up with that number and you better have a logical response otherwise you will look like an idiot and no buyer will take you seriously.
@Chevydude, good information but bad city example with a 4x4 truck. Miami FL, like Houston Tx, gets heavy rains/hurricanes where floods occur. 4x4 trucks are desirable for that reason alone. Nevertheless, your information is spot on and very helpful to all. Thanks!
Sorry man, i know you're in business to make a living but i think you're just explaining away the reason deàlers dont want to pay the true value on the trade in. IMO kbb favors the dealers in the first place. I just use it as a starting point. Also, one of the first questions a dealer will ask is if you have a trade in. If you do, there's no negotiation on the selling price of their car, so you've immediately lost that much money. You're better off selling your car yourself.
My brother just sold his truck to Carvana . They gave him way more than any other dealer in the area was going to, and more than he would have gotten private party. I got an estimate for an Expedition, $2500 over what I feel I can get selling it private party.
And you wonder why Carvana isn’t profitable. 😂😂
@@ChevyDude Its actually not a bad business model for taking in front line vehicles. Have a computer app validate pricing, cars come to you and you get to look them over before cutting a check. No auction fees, no transport fees, no paying people to go to auctions.
@@ChevyDude They can arbitrage between geos, which you can't. A car in my area is worth 30% more than a car 300 miles from here, never mind where you are.
I've travelled upwards of 1000 miles to get significantly cheaper vehicles that what's available where I live. The result is that, after driving them a few years, I can sell them either at cost or for a profit.
@@mph5896you only looked at it from the customer point of view. A business model has to actually work for the business too.
@@ChevyDudethe 4wd truck in Florida comment is off. That was the first place I seen those squated 4wd trucks several years back.
Part of it is marketing psychology and price anchoring. If a dealer hits you with a $4k trade in offer, and then after negotiations bumps it to to $7k, you feel like you got a good deal. But if they start at $7k, and never budge, you might feel like you're not getting a good deal. Perception is everything, and that's why research is so important so you know what's a good deal and what's not.
Carfax only shows what the insurance reports
or what dealerships and major repair shops report, accident damage as well as normal service. Not all service places report to the database.
Still better than nothing
8:25 I worked at a body shop in Phoenix throughout the 2010s. We only did cash repairs ,never reported to Carfax. It only shows up on carfax if you report it ,or a shop does.. It's also common for a insure repaired car to be resold immediately after repairing.Then at the end of the month the insurance company reports to Carfax.Then an accident report shows up months/years later. Because it wasn't "reported" to carfax at the time if sale ,new buyer is out of luck.
Don't count on carfax
Spiting knowledge and facts!!! love the video!
Thanks again for what you do for the kids. You have an awesome show.
I agree that sometimes everything you say here is correct, sometimes the dealer just thinks you are a sucker and wants to make huge profit off the resale. I sold cars for Ford for awhile.
Fantastic info! Thank you!
I just sold a 2 door 1952 Oldsmobile 88 in great condition for $20,000 yesterday morning. I parked it in my driveway facing the street with the for sale sign on it. It only sat there for 3 days. When I had it on Facebook marketplace, I had nothing but, low ball offers, tire kickers trying to give me the lowest offer that they could. I turned them all down.
I had a Nissan 240 SX listed for sale and I had a guy call me and tell be I was asking too much for the car according to kbb. I told him two things: 1. KBB doesnt own the car, I do. 2. Your idiot for calling and arguing about the price of a car you have never seen. He hung up the phone and I sold ot for what I was asking. Good information Mike, I dont always agree but I still like to hear your opinions.
That happens every time I list a car for sale. Some idiot calls first thing at 5am to argue that I should sell my car for less(to him). 😂
@@edhcb9359 90% of calls are people wanting to try to flip it. One thing that you can do if they are serious is to ask to see their license. It will show in most states if they are a dealer. If they are hiding that from you (and almost all will in most large cities) then move on. Note that Craigslist is the worst of the worst, with a signal to noise ratio of about 1:100. You might get one legitimate person in a week - all the rest are looking to make money off of it and assume you are selling it there because you are also a lying scumbag who makes their living off of flipping things like they are. Or are out to rob you. So yes, if you are serious, DO pay to have it listed via a proper service.
The other one is a call on a $2500 Honda Accord, how much
😂 yup or I had people send me other listing that were cheaper, but when I see the add the car is a salvage title way more miles or just in bad shape. That same with kbb and when I plug in my info I get a better price they just put in a base model with no options knowing I have a loaded premium car. 😂 I tell them nope I’m not a dealer don’t care what other people or kbb posts it for. Also people asking for payment or if they can take over my payments, I tell them talk to your bankThen I sell the car within a few days for what I want.
I had a Honda Accord listed for $2500. The same lady called me several times axing "How much be da payments". I explained each time there is only one payment $3500 and I'm not a dealer or a Buy Here Pay Here. Results from her IQ test are pending.
Well, dealers think book values are gospel when it comes to the price of the vehicle they’re selling….
Ok this makes sense , car dealers like you buy below wholesale and sell to us the customer at or above retail.
Most dealerships will give you a low offer to make more money. I have seen dealers give ppl 38000 for a 3500 dodge diesel and turn around in the lot for over 50 grand. So tell me they aren’t trying to make money
They may not necessarily be lowballing you on your trade but what you see is they're trying to jack you on the price of the used car. I've seen a used mustang recently been traded for 5500 and then they put it on their lot for 11,500. Nearly twice the amount. That seems a bit excessive
If they don't even lift the hood or look inside, just walk away - they see you as another sheep that they can fleece. Also note that the cheapest Mustang you can find of that era, nationwide, is likely 8-9K with title problems. The person who traded it in could have easily sold it for 8-10K themselves. Most dealers assume anything you are trading in is like an old pair of shoes - you just want to throw it out and in typical consumerism, just buy the new and shiny. $5500 shows that the person who traded it in had no sense.
@@josephoberlander it was a V6 with 130,000 mi. I'm not trashing the trade in as much a dealer trying to sell it for 11,500. It's outrageous
@@jpmiller99 But $10-12K is what a car like that is actually worth if it's one owner and no accidents. Especially if it's manual and in good condition.
Your not accounting what else the dealer has done. Getting it caught up on service. Tires, brakes, fixing body damage. No used car is lot ready even the ones we get at dealer auctions normally vehicles are traded in for a reason and the people trading the car in lie and tell you it's perfect when it's not!
I can't get over the look that Mrs. Chevy Dude gave you when you were wearing the hat....lol
I was lowballed at a local dealership. I did a bit of research got me a better offer.
Local - We will pay 1800 and you will be lucky we are offering that, thank us.
Nationwide website offering to sell to a dealer - Wow that is in great shape. We will offer 5 grand (mid retail)
Guess which one I did?
I also used that to get an extra 500 on the trade. I had an offer on the table, the dealership matched it and went up a couple hundred more.
Always good information
Micheal you talking about one of the largest company that dose control the perspective value in their favor .
I've been shopping for a f250, my last offer I got on my 150 wasn't bad. But I was told a 4wd 17 platinum (fully loaded) wasn't desirable.
Only real advantage of trading in at a dealership is that it lowers the taxes you pay on the purchase.
A dealer telling you a why a dealer lowballs you, might not want to go there.
Mike your always giving good invice on your videos
My last trade in, the dealer wouldn’t give KBB trade in price, went by the Galves wholesale guide, but they sell it on the lot for KBB retail.
The dealers use the source that gives them the most advantage. :-)
At this point I would guess it is part of many dealerships process to pull the car fax for themself. Do you just pull it when someone asks for one or is it part of your normal process? And if you do it as a part of your process it should not matter if the customer asks for one, right?
Dealers will low ball toy for profit. Yes the dealer wants to make as much money per vehicle as they can why wouldn't you. You have to know what they are selling for at retail. The dealer will probably say well I can buy it at auction for less. Your not an auction and the comp in the trade is you selling it as well as what dealers are selling them retail. Second part is you know you even with slightly less money on trade could save more because the tax savings. Lastly is if they don't get you to sell your vehicle they won't get the new sale. So they can make a little on two vehicles or nothing from you.
I am not opposed to dealers making some money on the trade they need too. Problem is do they make a killing or get a happy customer to buy more in the future and refer people two you. Short term vs long term and most dealers are short term thinkers just shown by recent example of over msrp sales for the two years.
They buy from auction, they have to pay less. Consider Mike who never sees the vehicle until it shows up at the lot, and he sends how many straight back to the auction?
It is very dependent upon where you live. If you live in most large cities, it's as mercenary as something out of a 1970s dystopian future film. Offers of 6K for a car that the entire nation has nothing with a clean title for under $15K. straight-faced greed. Every last one - there's just a culture there of we are in it to make money and flip things as quickly as possible.
Yes location matters but in general most just go to auction price they can buy it for in the area.
Yes the price of a truck in W I, Mo, and fly will all very that's a given. That's why when I go with friends to buy at mecheum and others people will sell at specific ones. The market is better at some than others. But for the average dealer and buyer the dealer looks at the local auction pricebutthecomps are that, indepent/owner price as well as retail. If they don't plan on selling it themselves then I get auction but in today's market they need to hold onto them to sell themseves
@@ericfriedle456 And yet, where I live they still lowball you many many thousands less than auction value. Despite in many cases, there being NO actual cars of that type at the auctions - it's all filled-in-data. Every dealer when I lived in Los Angeles was like this - grifters and con artists, every last one of them. It's just endemic in most large cities.
@@josephoberlander that's cause they don't actually know how to sell which is obvious by they just focus on price. A real salesman will overcome many price objections within reason.
I have over the years I have hired a few former car salesmen and they never worked out. They couldn't over come any objection without just going to price.
I bought a used Jeep last week. Dealer offered me 12,500 for my 2022 car with 2,400 miles on it (1.5 year old small car). I ended up selling for 16.5k to another dealer. The reason, the original dealer did not want the car. Not the type of car they sell.
Neighbor's daughter died of cancer. She went to 2 different dealers and sold her daughter's 2020 Fusion with 6,300 miles, mint, the Mom paid $28,000 cash for it and they only gave her $6,100 for it bx "no one buys cars now"..
I wouldn't worry about hail damage on a car fax. It's the collisions I worry about. Any hidden damage not repaired correctly or just not repaired at all. Shady garages cut many corners and don't always fix frame damage. I have seen many videos of garages fixing bad repairs that were insurance claims.
Personally, I've found "book values" to be a scam in itself. They take all the cosmetic values with mileage, but they don't really ask the HARD questions someone NEEDS to know...........how often was the oil changed? How often was this vehicle in the shop? What was it in the shop for? Was the driver a violent driver or law abiding driver? Is the mileage in city or highway? Were the other fluids ever changed or topped off? How often? When were the brakes last serviced? Does the vehicle make any ongoing noises when travelling or stopping? What kind of gas was used in the vehicle? How often were all the filters changed? Was the vehicle in any unreported accidents or fender benders?
What climate was this vehicle in most of its life so far?
"Book value" is more or less COSMETIC VALUE, not actual MECHANICAL value......which is what any vehicle MUST be gauged on. Cosmetics can be easily reparied. Mechanical repairs are expensive and costly, and ALL knowledge pertaining to the mechanics of any vehicle must be honest, indepth, and valid. Which "book value" does NOT support.
In my perspective on New vs Used--
New - unknown, regardless of warranties. Warranties are usually worded in such a way by the company, that relieves the company of any responsibility over the whole product.
Newer vehicles are made with cheaper parts, as is next years models made with even cheaper parts, etc.....
This is why most "new" vehicles end up in the shop within their first month. Chrysler/Dodge/Jeep products are notorioius for this. WHY pay NEW prices when you aren't getting a SOLIDLY made, long lasting product right off the lot?
And WHY a "depreciation" value of up to $5K when you drive it off the lot? That cost needs to be removed from the total price of any NEW vehicle!
Used - Most of the kinks and bugs have been worked out of any used vehicle that has at least been taken decent care of. Also, knowing what to look, see, and smell for in a used vehicle will help you a great deal, as you cannot possibly find out these things on a NEW vehicle.
You can shop for your OWN warranties on used vehicles, to best suit your driving/vehicle needs.....not the scam warranties auto makers have for you.
NO DEPRECIATION VALUE!!!!
You get what you pay for, unlike a NEW vehicle........you have NO CLUE what you are getting, because it's never been driven before.
Used vehicles are usually cheaper on maintenance too. Whereas NEW parts may not always be readily available, or too expensive because its a new model or new brand vehicle.
Used vehicles are usually less likely to be stolen for parts than newer vehicles.
And the BIG value for buying a used vehicle....................you can usually buy the type of vehicle you've always wanted vs buying it NEW.....as it is much cheaper.
I wanted a 2012 Acadia for a long time. In 2017 I finally found one in the color I want, with the interior I want, with the mileage I'm happy with, for my price range. And I lucked out and bought it from a very highly rated used vehicle company. And it passed all of my "sight, smell, and hear" tests. I still have my 2012 Acadia and I'm still extremely happy with it.
"Carfax" type documentation. I've seen too many of these that have been easily "audited" to make the vehicle sell worthy. I just recently saw one on another car channel where the Carfax stated the vehicle was "never in an accident or had damage"......and the photo of the vehicle showed the entire front end of the vehicle was ripped off in a car wreck.
Documents can easily be altered. You can't believe everything thats on paper, or on screen in front of your eyes.
Great information
What about what the dealer does to the car when it is with them before it is placed on the lot to sell it?
1. Previous owner trades in a car and the dealer offers a low price to buy it off him.
2. Dealer takes the car into garage: performs the most detailed multi point inspection on the car.
3. Changes all fluids while inspecting things including the engine cylinders and continuing with the oil change.
4. Clean and detail the engine bay while doing all this mechanical work.
5. Continuing for the rest of the car check suspension system and the brakes wheels and tires.
6. Exterior: fix all dents and make sure paint is nice and smooth all over the car.
7. Interior: performs complete interior detail. Fixes any broken parts. and makes sure interior feels as good as new for the next buyer.
8. Charge the new buyer a price the includes the cost of all of the above + money paid to previous owner + some profit.
Here’s my observation about car dealerships. Let’s take a 2020 Chevy bolt. There’s a lot of off lease units available for around 16k. If you tried to trade one you would have to fight to get 8K. Did most dealers pay too much?
You do good videos You're the man brother
Used car dealer for 30 years and sold thousands of vehicles. Other dealers thought I was crazy for not taking trade ins. I also would not sell extended warranties. Because I wasn't a scumbag and didn't rip people off, I had a very profitable used car career.😊
Extended car warranties wasn’t much of thing back in the days. That’s because shops weren’t charging so much compared to now days.
@@Ray00069warranties are 80% plus on profit. You're getting reamed when you buy a warranty on anything.
@@Joe-db5hz well that makes sense.
I'm a small dealer I'll take a trade if it's worth the hassle. Most people don't understand that 99% of the time I don't want your vehicle. Either because it's not something I can resale because it's a 15 year old kia with 300k miles on it and I'm just going to send it to the auction and if I'm lucky I make a couple 100 bucks.
Mostly greed, my personal experience was asking a Toyota dealer I wanted 5k for my Civic, sales guy said "no problem", he returned and said we can only buy for 2K, I started to head to the door and he followed me saying "ok, 5K." I never stopped, went to Honda and got 5K and a new Civic EX.
Crooked snakes
Our 2005 Hyundai Sonata is in rough shape. Paint is faded, the roof is caving in, someone jumped on it when it was left on the street. The radio is blown. There is an electrical problem as the passenger window doesn't work, it's not the switch. The transmission doesn't shift properly either. The dash is falling apart, and it needs an AC compressor.
We where curious, and we took it to Hyundai to see how much they would give us for it, and they said we had to pay them $500 to take it. Insane! It's still a running and driving car, so we kept it and put 60,000 more miles on it since then.
There’s an old salesman’s saying: “if you don’t ask, you don’t get”. I got the wholesale offer on my trade and I told them that wouldn’t work and walked. 3 days later they called back and gave me my requested number.
Do dealers alter the carfax report. Once I trade for a CRV dealer said carfax showed no accidents later I traded the CRV to that dealer. The manager said the carfax shows the CRV been in an accident. Not why I owned it. Just saying dealer people lie often & it doesn’t faze them one bit.
For fun I checked Carvana, to sell my son’s well maintained 2008 Pontiac G5 GT. Offered me $600. I sold it for 5K, and it’s still running well.
Many years ago (1980s), my parents were trading in a car at a new car dealership. My dad was negotiating the trade, and a salesman who was with another couple came over and walked away with my parent's salesman. When he returned to the table, he gave my dad what he was asking for. It's always been the assumption that the person the other salesperson was with wanted the car my parents were trading in.
It's 2024 your story is unrelatable 40 years later.
@@TheEnd-eg6wqsays you.
@@Timothy-NH 40 years ago a human made that decision, now a human pushes a few buttons on his phone or laptop, and it gives the decision.
My dad was having a tough time dealing. The dealer "You won't buy this car over $25" Dad - No, you won't see it over $25. The difference you have to sell it, I don't have to buy it"
This was the same dealership that laughed when my dad was going to buy a full size Eddie Bauer Bronco. They said as if you could afford it. The ran my dad's credit was 800 with the only debt being the house. He wouldn't have bought it anyway, he just wanted to teach the salesperson a lesson.
I had that happen with a Chevy S-10 pickup. Someone came in who had a wheelchair. The stretch cab was perfect for their use. So I got more for my trade to a full size pickup.
We’re a small lot. We stopped taking trades bc people wanted too much for their junk. They had jumped titles, rolled back mileage over 100k, horrible cosmetic issues, etc. but always wanted KBB value or close to it. No thank you, we’ll just stick to buying from auction.
I watched my mint 2016 Sonata Sport Tech, and I do mean mint bought in May 2017 New, go from 11 grand Canadian down to 7 grand in the last three weeks.
I have all the service records for my 2013 Nissan Frontier .it looks great inside and out
The hat analogy made me laugh out loud!
was that jeep a Cj perhaps even a cj scrambler right hand drive? Super collectable!
Look up traded value and then go 30% back of book. That’s what the dealer will automatically give you.
Stealerships have expenses Floor Plan costs and overhead and now especially with interest rates through the roof those Floor Plan payments are through the roof
i went to a dealership that had a great price online -- that price was great cause they applied a 4k discount to trade - yes they lowballed me a crazy 4k below my kbb avg value - when i mentioned i was not letting them have my trade for that amount they came back with - we can raise our offer up 4k but you we will use the original price before discounts --- so basically i would qualify for the 4k trade discount if i paid them 4k of trade value either way i would be paying their full before discount price
Greed of course
KBB somehow valued my 2012 hyundai at 105k for 3600
was shocked at that and even more shocked ive gotten dealer offers ranging from 2500-2800 (shocked as in i expected half)
I live in Florida, 4 wheel drive and all-wheel drive are king!!
I have a 2012 c6 Covette (extremely rare Carlise Blue) with a 6spd manual and only 13k miles on it. It's in flawless condition and a dealership offered me just 20k for it, when they'd sell it for a minimum of 36k... I obviously told them to F off...
Likewise, I ruthlessly lowball dealers when I'm buying (and I keep my used car). Fair play.
I remember when I was last looking for a car and I had one dealership I drove over an hour to offer me $3000 for my 2010 camaro, they weren't willing to work with me at all. I went to a local dealership less than a month later and they offered me $10,000 for the same car with another 1000 miles.
You Never mentioned about ''Banks" Use KBB to warrant Loans. Dealers Give wholesale or below for your trade
I told them that it didnt include destination charge or the nitrogen in the tires.
…look, it someone wanna “giveaway” his/her own vehicle…trade-in would the best way to do it.
How can someone fix mileage that PepBoys inputted for my oil change? The car only had 4560 and PepBoys reported 12000+.
I'm 74 years of age and have purchased quite a few cars. Guess what? I've yet to talk to a car salesman that told the truth. Too bad Chevy Dude, I sort of trusted you until you posted this.
I agree
I have yet to see a buyer that's hasn't lied to me either!
What's the #41 represent on the display above the door?
4x4 on florida sell good
Everybody thinks because you put a new engine in it makes it a brand new car.
Dealerships have to put in a significant amount of work into your scrubby vehicle to make it resaleable. Plus, that whole profit thing.
Dealerships do zero work on used cars, and they do not stand behind them if they crater. They only pay a flat rate to a detailer to clean them up a little. 100% is on the buyer just like in a private sale.
I know you always look out for the customer on getting the best deal. But in the beginning of this video you mentioned Kelley Blue book Manheim auction all these different comparative used car company evaluators. But you didn't mention AutoNation which is the largest car dealership in the country owns all of those groups so they basically they set the price of all used vehicles. But it benefits them the most don't you think just my opinion I could be wrong.
Guides are just guides, always have been, always will. Most customers over rate the vehicle and ignore any recon it may need. I always ask my clients, “rate your car between 1-10 (usually 7), and would it take to raise it to an 8?” CIAO!!
I guess I didn't realize you had anything to do with trade-in's at Bachman Chev? Doesn't generally a sales person just deal with the purchase of your new car? And used car Manager evaluate the trade? and give the number?
So they can make a Fortune
A lot of this could be solved if the public was given access to auction prices since that is what most dealers go by.
It’s a market reset why everyone is freaking out about low ball offers on your car. When in reality everything is going back to normal used cars were not supposed to be an appreciating asset unless it’s a rare exotic, sports car, or just a very high demand desirable car!
If I do my own services do to I’m a technician how do I report it to carfax
I live in florida. People in Miami Fl buy 4x4 trucks in Miami every day.
Try the hidden dealer low ball BLACK BOOK trade in value
Traded in 2 trucks they lowball me big time I just do t like it when they feel offended when I lowball them n their MSRP😮
Some of yall really need to watch the video multiple times before commenting. Holy.
Irony: When a salesperson spends a good 15 minutes telling you how well a Mustang holds onto its value because you're looking at one, then tries to lowball you on the value of the slightly older Mustang you would have traded in on it. "Either way, I'm driving a Mustang home tonight. Which one depends on how badly you want to sell a car." Turned out he was a lot more attached to his Mustang than he assumed I was to mine.
Did they rip me off?
Bought a new Lexus ES350 last day of Nov. I had a 2013 Avalon Limited w/tech pkg. Excellent condition and only 48,000 miles. I got an online quote from CarMax for $16,800 and my local dealer for $15,300. At the time, the retail was around $20,000 to almost $22,000.
1st dealer 60 miles away was asking sticker plus a $1600 dealer paint package. They didn't even want to look at my car. Why - because their lots where full of new and used cars. What shortage?
I went to my local dealer a got a decent 8% off sticker for a car that was on the lot for 3 months. Black on Black that are not selling. They then offered me only $12,000 for my trade. Said no and willing to walk. I showed them Carmax and their offer plus what dealers where asking for retail. They came back with $13,800. Still low but close enough. Actually that number now is a fair to good offer.
My whole point of this is that my trade never hit the lot or auction. It was bought by an employee at the time of closing on my new car. Yes, It was in that good of shape and had full history. 😒
Ironically when you’re buying retail and you make a lowball offer but more than trade-in they look at you with indignation.
I tell people this all the time as a used car dealer. Trade value is trade value. Period. Its not magically worth more or less. If a dealer is "low balling" you, check the price of their vehicle. I price my clean title vehicles $2-$3k back of book, why would I pay full value if I sell under value. Vice versa, if a dealer is offering you $2,000 more than trade value, check the book on their vehicle they are selling you. 99% of the time they are selling it for $3-$4k OVER book value. In the end, I would rather take less trade and get a great price than feel satisfied on the trade, but pay $4k over....
How well will a two wheel drive sell? If price well theres a buyer esp with todays prices.
Depends on where you are at. If everything around you is 4wd, not too well.
I have a two wheel truck and bought it due to price. I choose not go out in adverse weather due not risking my life or the truck. If I absoutley have to go out I will fill the bed up with snow and give the real wheel more tration. Its cheaper just to wait for the snow to stop, roads to be plowed and its cheaper/safer to be incovience than owing 4 wheel drive. @@mph5896
Good luck at Florida boat ramps with 2WD.
It’s called being dishonest and greedy. They’ll use the “overhead” excuse as to why they’ll low ball you.
All you have to do is shop around and you will easily find the dealer that's not trying to rip you off. I had a friend that didn't listen and go to a dealer that we have connections at. And their trade in was listed for 10k more than they got for it. I understand making money as a business owner myself, but that's a rip off and most dealerships operate this way. My favorite red flag is when a dealer won't show you how much they purchased a used vehicle for so you can see how much profit they're getting before making the purchase. I'm all for paying more, as I understand, however 10k more is outrageous. Don't even get me started on the "extra" bs they tell you they "already did" to the car and can't remove off the price (mostly new cars), only to find out it was a lie.
Best way to not get ripped off is to avoid car dealers wherever possible
A dealer has no obligation to show you how much they paid for something. In fact, its irrelevant due to the added expenses they have or have not to put into it. And the overhead they have. Shop around and do your due diligence when buying.
@@mph5896even if they show the customer, customer will never believe so you are right. It is pointless. It’s none of customer business to know what a dealer or a retailer in general paid for an item. The customer should care only about the price he is buying it for.
I’m mostly in agreement with this. I have been shown their price before. Typically feels like more lies. They can show you and tell you all sorts of stuff. Nothing is regulated and they all play so many games and manipulate to get the most profit they can.
@nealinator An honest dealer will have no issues showing you the actual price they paid though.
Mariachi hat never goes out of style Just so you know! What out with your jokes!!
I always sell my cars privately.
My only car that has not ran in a year would be replaced right now if I had the money with a same basic model. Only it would be 5 years older that the one I have now and cost even more that I paid for the one I have now that I got 9 years ago. Things are just crazy so I guess I will keep walking to church and begging a ride when we have to go to the doc and things like that
Do you still sell new cars and work for the dealership?