8 tips for negotiating a car trade-in #rent #a #car


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8 tips for negotiating a car trade-in

5. Negotiate the new purchase and car trade-in separately. Conventional wisdom dictates that each transaction should be treated separately. However, rather than negotiating the new car price first, Reed suggests you start the deal with the car trade-in, especially if you have a fairly sought-after car. One way to find out is to put up an ad on Craigslist.org and see what kind of responses you get. Leave off your phone number if you like and just use the Craigslist.org e-mail address, but see how many people bite.

“The trade-in is the weakest part of the deal. But if you have something desirable, the only reason the dealer won’t take it is if he already has two or three of the same vehicle on his lot,” says Reed.

6. What should you say? Start your negotiation by letting the salesperson know you’ve done some research, says Scott. “Say something like, ‘I was researching cars online to see what I can get for this car,’ not ‘it’s worth $4,000 and not a penny less,'” Scott says.

7. Avoid game playing. Reed says some unscrupulous car dealers have been known to throw your keys on the roof so you can’t leave until you drive off in a new car .

“Avoid all this game playing, and don’t surrender your keys,” says Reed. “Make a phone call before you go, ask the used-car manager what the value of your trade-in is. If you get a negative feeling on the phone, you’ll want to scratch them off your list and save yourself a trip.”

Salespeople may also try to hold on to your driver’s license and registration, says Emerson. “Carry a copy of your driver’s license to give them and don’t part with the registration until you’re in the finance office.”

8. Explore the tax advantage. All but eight states allow you to pay sales tax on the purchase price of the new vehicle minus what the dealer is giving you for your car trade-in. The reduction in sales tax in states with rates of 9 percent to 11 percent can be substantial. Check your state’s tax advantage. Emerson says you can save as much as $1,000.

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Used Car Trade-In Value from Black Book #car #loans


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Get a Black Book Used Car Appraisal on Your Trade-In

In addition to your used car appraisal, get a free new car price quote.

Widely known and highly respected in the automotive industry, Black Book is an online leader in offering timely, independent and accurate used car values. Black Book pulls actual numbers that vehicles are fetching at wholesale auctions nationwide and uses them to find an accurate, up-to-date value for your used car or truck. To learn the Black Book appraisal value of your used vehicle, simply follow the directions below. It’s as easy as 1..2..3!

If you do not want a new car price quote, click here  to get your Black Book used car value.

Related Topics

There’s no such thing as exact pricing when it comes to your used car trade-in. The exact appraisal amount will change based on where you live, the time of the month even who does the work-up. So to control the process, work with the used car appraisal system that more dealers count on.

Coming in with a Black Book appraisal gives you credibility with the dealer. After all, those are the numbers a majority of dealers use and those are the numbers you’ll be negotiating with. And make sure to print out your Black Book appraisal and bring it to the dealer. That way the dealer will know up front that you’ve done your homework.

Using Black Book to Appraise Your Used Car

One more thing. The Black Book appraisal you receive doesn’t replace the actual on-the-lot appraisal. The final price may be lower (or higher) on that day based on market trends and your used car’s condition. Good luck!

We take privacy seriously. By submitting your request, you agree that you are subject to our privacy policy and terms, and that an Internet dealer or their representatives may call you using an automated telephone dialing system or automated voice message. Your agreement is not a condition to the purchase of any goods or service.



Your Vehicle s Trade-in Value: The Real Truth! #car #and #driver


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Your Vehicle’s Trade-in Value: The Real Truth!

Car dealers have a bad habit of telling you they’re giving you more for your trade-in than they actually are. They do this by artificially inflating the price of the vehicle you’re purchasing, then artificially inflating the trade-in allowance to make you think you’re getting a tremendous amount for your car.

In reality, all they are going to give you is wholesale value. Just ask yourself this: Why should they buy a car from a customer for more money than they can buy a similar car for at a dealer auction? A car dealer is no different than any other merchant in that they have to buy inventory to resell. Just like the grocery store owner, they have to buy at wholesale and sell at retail in order to make a profit. If they can’t make a decent profit they’re out of business.

The problem is that I’ve never met a customer who is satisfied with wholesale value for their trade-in. Everybody thinks their car is worth way more than it really is! It doesn’t help when Blue Book and others list unrealistic values for most vehicles. The only way to get more than wholesale value is to sell the vehicle privately.

Car dealers even have terms to differentiate between the real amount they are putting in a trade (ACV) and the fake number that they list on your sales order (Over Allowance). ACV stands for “Actual Cash Value.” They have these two terms so that when they are discussing the deal between management and salesperson, and when they are calculating their profit after a deal is complete they can differentiate between the real number for the trade and the false, inflated one!

So what happens when you trade a vehicle to a car dealer is that they’ll inflate the selling price of the vehicle you’re buying and then artificially inflate the trade-in allowance so you think you’re getting a high trade allowance. It’s all “Smoke and Mirrors!”

If you’re buying a used vehicle they will have the price jacked up high enough over their cost to allow them to show you an artificially inflated trade-in allowance and still make a decent profit. In the case of a new vehicle they will start with the sticker price, and even add the rebate if any into the pot to give them some extra room to over inflate the trade-in allowance.

If you’re buying a new vehicle always tell them to put the rebate aside until after the deal is agreed upon. Then, and only then do you subtract the rebate. Otherwise you risk losing the rebate in a jumbled up mess of numbers!

This is why I recommend on this website to always negotiate the selling price without the trade-in. Spring the trad-in on them after you have agreed to a price on the vehicle you’re buying. This is the only way you can know for sure how much they are actually giving you for your trade. The car sales person won’t like it, but so what. No one says you have to do a car deal their way. Their way will usually cost you more money!

If you tell them up front that you have a trade-in they will always hold back some money in the selling price so they can show you – on paper – an inflated trade-in allowance. The “price difference” will be the same in both scenarios, but the latter always looks better on paper to the customer even though it’s all BS!

Doing car deals in this convoluted way is not all the car dealer’s fault. As I mentioned earlier, most customers have an inflated opinion of what their trade-in is worth, so in order not to make the customer mad the dealer will show them on paper what they want to see. a high trade-in allowance, even though there is absolutely no way a car dealer could or would pay that amount for the trade.

What a Crazy System!



Nada car values – How to use Nada guides to get MAXIMUM trade-in dollars! #cars #for #sale #qld


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Nada Car Values

Nada Used Car Value

Learn to use Nada car values, Nada used car price guide to MAXIMIZE your trade-in value, research used cars with “Consumer Retail Edition” of Nada book is what this page is all about!

Nada stand for National Automobile Dealers Association. Nada Guides is another leading Used Car Valuation book you should get familiar with.

Depends on your physical location, and your local dealership’s preference. Some places used Nada book to determine Car Trade-In Value. they are different than Kelly blue book, you generally get HIGHER value for your trade than blue book value, so it’s in favor of you!

Nada car values information is OPEN to general public, unlike Black Book Value which is ONLY reserved for industry users like car dealers, financial institutions etc.

Nada car values guide is known for their BRIGHT orange color book that details:

* Average loan value

* Average trade-in value

* Average retail value

In different regions of the country. The numbers in the book reflect ACTUAL transactions at the dealerships.

Unless you are in the automotive industry, you wouldn’t be able to access the “The Official Used Car Guide” which is for dealer-only, thin pocket book published monthly.

However, there is a consumer retail edition of Nada used car price guide published quarterly, you can purchase through Online Book Store and research on used car market price in the United States.

Nada Used Car

Value Classification

Make sure you properly classify the car based on miles and options, conditions etc. Go to nadaguides.com and browse under Used Car section.

I’d like to remind you that even the values with NADA used card guide are very close to the dealer book value, this is still a guideline.

Be prepared to get a lower quote when you DO take your vehicle to a car dealership for Used Car Appraisal. Check out the used car valuation variables section to find out why you’re getting a low number than the book value.

If you are interested in knowing approximately how much is your car worth, go to NadaGuides.com and select the body style, vehicle make, year and model information etc for detailed pricing information.

Are you selling your car

to dealers or private parties?

If you are in the market of buying or selling your car with dealers or private parties. I strongly suggest you get a copy of

Nada Guide Consumer Retail Edition from Amazon Book Store. The book gives very clear instructions on how to determine the classification. Read it carefully so you don’t end up paying too much or selling for less.

One last thing I’d like to point out that you will see the loan value in the Nada used car pricing guide refers to what the bank will loan for the car.

Dealers know banks will only finance loan value. So the dealer will sell the car for loan PLUS X amount of dollars for ADDED PROFITS.

By having the Nada guide book in your hand, you are in a much better position to negotiated and WIN by the end.

Other Book Guide You May Not Know About

Did you know that dealers use Black Book to determine used car values and that’s the MOST common way to appraise used cars wholesale values.

If you live in Canada, used Canadian Black Book as the official guide.



Maximize Your Car Trade-In Value with These 5 Tips #honda #car


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5 Ways to Increase a Car s Trade-in Value

The day had finally come and it was time for me to sell my car and obtain an auto loan to buy a brand new vehicle. My old, battered Honda Civic was still in great running condition, and with nearly 180,000 miles on the odometer, had accompanied me on many journeys. But it had seen better days, and the rust, the peeling paint, the nicks and the dents all but convinced me that its trade-in value would be modest at best, backed by all the research I did on its overall worth.

What came as a surprise upon selling it was that I was offered nearly double its Kelley Blue Book trade-in value (and this was after my generously sentimental appraisal of my old four-wheeled companion). That was last year, and some reliable sources have since informed me that the car has had not one, but two possible owners since I sold it, a clear indication that it s further retained what value it still has.

I discovered that day that the trade-in value of my car was much higher than I expected due to a number of relative factors and, that I underestimated its said value due to being misinformed about trade-in values in general.

Granted, it fetched a higher dollar amount since I sold it instead of trading it in, but that s OK. If you re looking to part ways with your vehicle, don t go unprepared. When you understand what affects your car s worth, you ve got a clear path to knowing how to maintain or even raise its value. It can earn you more money for your old ride, therein saving you money when upgrading to a new one, especially when an auto loan is concerned.

How Are Trade-In Values Determined?

To calculate trade-in value, visit the Kelley Blue Book website. You ll be asked to enter the make, model, year, mileage, features and condition of your car, plus whether you re looking to trade it, sell it or if you re just curious for a dollar figure.

But the Kelley Blue Book price goes beyond those simple details. Priced high or low, the trade-in value of cars takes into account other important details.

1. Brand

What s really in a name? A whole lot, according to the writers at High Gear Media. The first name of a vehicle can have a tremendous effect on its resale value, regardless of the condition or quality of the vehicle in question, they said. So, even if your Geo Prizm or Ford Pinto is in tip-top shape, it probably won t command that much coin in the trade-in process.

On the other hand, marques relied on for their reliability namely, Japanese automakers like Honda, Toyota, Subaru and Mazda do demand high resale values, as do many luxury car makers.

2. Transmission

Despite claims that they re better at connecting the driver to the car and to the road, stick shifts have declined in popularity in recent years in favor of the more passive P-R-N-D-3-2-1 of an automatic transmission. In general, an automatic transmission will recoup its cost, typically between $1,000 and $2,000, writes High Gear Media.

And while manual transmissions won t exclude you from trading in, it can be made more difficult due to their decreased demand.

3. Paint, Tech and Mods

Your car s garishly neon pink color is for few people in this world of freeways lined with sober, silver-hued vehicles. So too might be your car s super-hi-fi stereo, which could actually backfire on the resale value if you spent more on it than the car.

Though your Toyota Corolla might hold a solid auto trade-in value, aftermarketing it into a super-modified, super-charged, super-rimmed Formula 1 wannabe won t do you any favors on the resale front. Upgrades and options can detract from a car s value.

4. Mileage

It s worth repeating that mileage affects your car s worth. Even when the exterior, interior and mechanical conditions are ideal, too many miles means a shorter lifespan for your car, and will be reflected by low trade-in values.

Getting the Best Car Trade-in Value

According to Edmunds.com, a new car depreciates in value up to 9 percent in the first minute it s driven off a dealer s lot. After five years, your car holds only 40 percent of its true market value and that s without all the other considerations that can reduce its trade-in value.

Before taking your car to sell or trade in, consider spiffing it up with five of these value boosters.

1. Make Repairs

From major engine problems to minor maintenance issues or cosmetic, paint or upholstery defects, a vehicle in solid running order is one of the most fundamental value boosters. The goal is, after all, to sell your car so someone else can drive it.

Nationwide suggests talking to your mechanic to see if repair costs will outweigh trade-in value. No need to fully restore your car, but a vehicle in like-new condition makes a good lasting impression.

2. Keep It Clean

Wash your car! As well as wax and detail it, too. Appearances count, and if the first thing a buyer or dealer sees is a filthy car, he won t even bother looking under the hood to see what s inside. A few hundred dollars (or less) for a quality car wash could increase the value of your car by thousands.

3. Keep Records

Websites like Carfax.com will have your vehicle s history on file based on its VIN number. Take it to the next step by saving copies of your maintenance and repair receipts. Document everything from oil changes to servicing.

Documenting the vehicle’s service history can increase its value by showing that it’s been well maintained, according to Nationwide.

4. Get It Appraised

Kelley Blue Book or NADA guides can only estimate what your car is worth. Contact a professional appraiser for a full inspection and true valuation of your vehicle. In tandem with repairs made from your mechanic, this will give you more bargaining power when going to trade in your car, and hopefully more value for your ride.

5. Don t Settle

If you ve learned to not take the first offer that comes along from a dealer when shopping for a new car, don t settle for the first dollar figure given to you on a trade-in. One of the best ways to increase the trade-in value of your vehicle is to shop your car around to several places and people for the best offer you can get. You never know when the next dealer will give you top dollar for your investment. And remember: it is an investment.

I realized that my car was worth more than I expected, even in its battered state. If I had done my homework and taken the steps above to improve its resale and trade-in values, I might have gotten an even higher offer.

Remember this when it s time to trade in your vehicle. You might miss the times you had together on the road but you won t miss the added savings your old friend brings you when it s time to buy a new vehicle.



Determining the Trade-in Value #car #magnets


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Pricing Your Car

Online ads make it easy to see what other people are asking for the same type of car.

В­TВ­he most important thing you must remember before you decide to sell your car is that you generally can get a lot more money by selling the car yourself than by trading the car in at the dealership. If you do decide you want to trade in your car at a dealership, beware of two things: a very high trade-in value and a very low one.

According to Cars.com. when a dealership offers you a high trade-in value for your vehicle, it will most likely use the price against the purchase of your new car. The dealer will cover the loss on the used car by making you pay a higher price for the new car. Thus, you won’t be saving any money. If the dealer offers you too little for your trade-in, it may suggest that you’re getting a low price for the new car. Remember that you can negotiate a fair trade-in price at a dealership, but know that you will probably get a higher price selling the car on your own.

The best way to price your car is to know what other sellers are asking by looking at online ads as well as print ads.

You can also find the suggested retail value for your car. The best way to find out this information is by using a common reference guide such as the Kelley Blue Book or the NADA Gold Book. which are available in the reference section of most libraries as well as online (including at Cars.com ). These books include domestic and foreign cars that are 21 years old or newer.

Another good way to determine a car’s price is to find out what wholesale price dealers are paying for your car at auction. The Black Book is one of several guides that provide this information. Black Book features wholesale prices on used cars and motorcycles from as early as 1946 to the present. With all this information in hand, you will be able to determine a fair and reasonable asking price for your car.

Finally, be sure to leave a little room in your asking price. In other words, ask for slightly more money than you are actually willing to accept. For example, if you want to get $15,000 for your car, you can list the car at $15,500. Then, if you have to go lower in price, it won’t be a big loss. After you’ve decided on your asking price, it is time to make your car attractive to buyers.



Trade-In Options for Your Used Car #car #sales #ireland


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Trade-In Options for Your Used Car

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Trading in an old car was once the Achilles’ heel of car buying, exposing owners to lowball offers and complicated negotiations. But happily, the process now can be more lucrative and user-friendly. From up-front price quotes to guaranteed trade-in values to car-buying consultants who handle the entire transaction via the Web, dealers are providing smoother transitions between your old car and your new one.

Shoppers love the convenience of trading in, since it completes all auto-related chores in one dealership visit. They avoid the headache of selling their old car and, as a bonus, the dealer handles all the DMV paperwork. And in some states, trading in can provide a break in sales tax. Our article, “What New Car Fees Should You Pay?” explains this in more detail.

But what if you were offered less than you expected for your car? Your best bet is to sell it yourself, but that takes time and perhaps more effort than you had in mind. Here are a few alternatives to trading in your used car at the dealership.

Before you begin exploring trade-in alternatives, you should have a baseline figure on what your car is worth. A good starting point to assess that worth is to use the Edmunds used-car appraisal tool. Also, check online classified ads and find cars comparable to the one you want to trade in. This helps establish your car’s current value. Remember that trade-in prices are lower than private-party and dealer retail prices.

Here’s a round-up of trade-in alternatives for consumers. We ranked them in alphabetical order:

AutoTrader’s Instant Trade-In Offer: Long known for used-car classifieds, the AutoTrader Web site now offers to appraise your trade-in. give you an up-front price and connect you with dealers. Input a few details about the car and then a few minutes later, you’ll get an e-mail with an estimated value. The site lists dealers who will either give you a check for your car or a value for trading it in on a new car. Restrictions apply, but it does present a stated price that might give you a greater sense of confidence before you go to a dealership.

Make sure you honestly answer the questions about the car’s condition level, because the offer is subject to change when the participating dealership sees the car. While it is nice to get an instant offer, the “instant” part only applies to the e-mail you get: It actually takes longer at the dealership than a typical trade-in appraisal. This is because the dealership will conduct its usual inspection and then has to input its findings in the AutoTrader tool to verify the figures.

AutoNation Direct: AutoNation Direct is the online arm of AutoNation, the country’s largest auto dealership chain. One of its car-buying consultants will appraise your car based on your description of its condition and other factors, such as mileage, and give you an up-front price. This removes the negotiating that car buyers dread. The entire transaction can be concluded at the car buyer’s home or office, including the trade-in. Here’s more about AutoNation Direct’s pricing system .

It’s important to understand that AutoNation Direct isn’t trying to distinguish itself by offering the best trade-in prices, says Simon Smith, its national sales director. The main benefit is what Smith calls a “protected buying experience” that is free from negotiating pressure. While Edmunds.com hasn’t itself used the AutoNation Direct trade-in process, many car shoppers give the service high marks.

CarMax: This used-car superstore has more than 100 outlets in 27 states and promises, “We’ll buy your car even if you don’t buy ours.” Edmunds has used this service many times when selling long-term test cars and we’ve often been pleasantly surprised at the high prices CarMax has offered. Sometimes the used-car chain offers us less than we expected, but it at least gives us a guaranteed back-up plan and we can decide whether it is worth our time to try and improve on the offer. As one CarMax salesman once told us, “Our checks don’t bounce.”

Inspection takes about 30 minutes and the trade-in offer is good for seven days. Some customers have found that the best way to dispose of their old cars is to negotiate a deal for a new car elsewhere, then sell their old one to CarMax, where the prices are typically better than at a traditional dealership. Another effective strategy is to get the CarMax estimate and list the vehicle for about $1,000 over the CarMax offer in a free online classified. If the vehicle doesn’t sell in six days, you can take it back to CarMax and sell it there before the offer expires.

Factory Trade-In Programs: These alternatives are really for a future trade-in, not the current one. If you buy a new Subaru or Tesla, the car comes with a guaranteed trade-in price. For example, Subaru’s Guaranteed Trade-In Program states how much a Subaru dealer will give you for the car when you bring it back later as a trade-in. For some, this removes the doubt about the impact of depreciation. The buyers can, in a sense, see into the future and know what their new car will be worth as a trade-in. This trade-in price is available for six years.

If you finance your Model S electric vehicle purchase with Tesla (admittedly, a small pool of people), the company guarantees that the car will have “the top residual value of any high-volume premium sedan brand (Audi, BMW, Mercedes or Lexus)” after three years of ownership. Buyers will get a “resale value guarantee” letter shortly after they purchase the vehicle, according to Tesla. The method to calculate the value and to cash in the offer is somewhat complicated and is outlined on the Tesla Web site.



Will You Save Sales Taxes if You Trade-In Your Vehicle? Adam Goldfein #book #value #car


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Will You Save Sales Taxes if You Trade-In Your Vehicle?

Depending on where you live (see the list below) your trade-in vehicle(s) may be exempt from Sales Taxes.  For example, if you are purchasing a $30,000 vehicle and are trading a $10,000 vehicle, you would only pay sales tax on the difference – $20,000.

So remember, if your trade is exempt from sales taxes and you are considering selling your vehicle to another party – e.g. selling it privately or to a different dealership from the one you are planning on buying a vehicle – you will be losing that tax break.

For example, if you were to sell your $10,000 vehicle on the Internet to a private party it would be the same as receiving $9,345.80 as a trade in (if your Sales Tax was 7% for example). The reason being that you would be saving another $654.20 in Sales Tax savings from trading.  Put another way, if the dealer offered you $10,000 – it would be the same as you selling your vehicle in the private market for $10,700 (if your Sales Tax was 7% again).

So what happens if your State is one of the 12 States that does not exempt the trade-in from Sales Tax? In that case, whether you trade in your vehicle or not, it has no effect on the Sales Tax you pay. You would pay the full amount of Sales Tax on the vehicle you are purchasing. If you are buying a $30,000 vehicle and your trade is worth $10,000; you would still pay Sales Tax on $30,000.  As such, residents of those 12 States end up paying more in total for their vehicles.

IS THE TRADE-IN EXEMPT FROM SALES TAX?



Used Car Trade-in Values Expected to Increase in June #used #cars #seattle


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Used Car Trade-in Values Expected to Increase in June

2009 Chrysler PT Cruiser

If you re planning on trading in your used vehicle for a new car or different used vehicle soon, you may want to wait until June. The National Automobile Dealers Association says that compared to June 2010, trade-in values of small cars are predicted to increase more than 30 percent in June.

“Strong consumer demand for small used cars is driving up prices,” says Jonathan Banks, senior analyst with the NADA Used Car Guide, in a statement. “The NADA Guide increase in trade-in values for June should come as no surprise because it reflects a shortage of both new and used cars entering the market.”

12%

NADA s Used Car Guide also reports that trade-in values for small cars are up 18 percent through the first half of the year. Dealers are paying an average of $11,660 for a used vehicle, which is an increase of almost 30 percent since December 2008, the Associated Press reports.

Because used car values are up, sometimes it can be cheaper to buy a new car compared to the same used car .

“Fewer new cars have been produced as a result of the crisis in Japan, which has shifted consumer demand to the used car market,” Banks says. “High gasoline prices are also increasing the demand for both new and used small cars.”

If you own a small car and need to upgrade to something bigger or newer, waiting until June could help you get more for your trade.

Looking for an affordable small car. Check out the U.S. News rankings of this year’s best cars. Then, look for a great deal on a new car by checking out this month s best car deals. Also, be sure to follow us on Twitter .



Calculating Sales Tax for a New Car Purchase With a Trade-In #car #leasing #uk


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Calculating Sales Tax for a New Car Purchase With a Trade-In

Your car sales contract will break down how tax is calculated.

Stockbyte/Stockbyte/Getty Images

More Articles

In 42 out of the 50 states, when you trade in a car to purchase a new one, you will get some sort of sales tax credit on the value of your trade. The amount of tax you pay depends on what you are buying, what your trade is worth and your state’s sales tax policies. The dealer will calculate and collect the sales tax, but it does not hurt to check the dealer’s numbers.

Tax on Net Cost

Across most of the country, the sales tax you pay on a car purchase at the dealership will be the sales tax rate times the difference between the purchase price and trade-in allowance. The new car cost and trade value will come off the sales contract for the car deal. For example, if you are buying a new car for $25,000 and the dealer is giving you $10,000 for your trade, you will pay sales tax on the $15,000 difference. If sales tax in your state is 8 percent, the tax would be $1,200. Without the trade value sales tax on the purchase increases to $2,000.

Sales Tax Considerations

States handle the sales tax rate on car purchases differently from state to state. In some areas, the sales tax rate you pay is the rate in effect where the dealer is located. Other states require that the rate be based on your home address tax jurisdiction. The sales tax will be the same whether you pay cash or finance the purchase with a regular car loan. In most states you do not pay sales tax and do not get a tax credit on your trade-in if you lease the new car.

Trade-in Value Increase

Another way to view the sales tax reduction from trading a car — and a favorite view of car dealers — is that the reduced sales tax can be equated to a higher value for your trade-in. If the dealer gives you $10,000 for your trade and trading the car reduces your sales tax bill by $800, you are in effect receiving $10,800 for the car you are trading. If you sold the car on your own, you would not receive the sales tax savings, so would have to sell the car for more than $10,800 to come out ahead of going the trade-in route.

States without Tax Benefit



Car – Truck Trade-In Value #win #a #car


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Value Your Trade

What is AutoTrader.com Trade-In Marketplace?

AutoTrader.com s Trade-In Marketplace gives consumers real, actionable offers for their vehicles when it s time to trade or sell them.  From the comfort of their homes, consumers receive offers they can use for quick cash, or to take control of trade-in negotiations.

Other trade-in value ranges represent a model s general worth.  But a Trade-In Marketplace offer is unique to the equipment and condition of a specific car, truck or SUV.

Trade-In Marketplace offers are based on information provided by consumers.   The Trade-In Marketplace offer is backed by AutoTrader.com, and you’ll never have to accept less, as long as the car’s information and condition are verified.

How is this data calculated?

The offers shown for similar vehicles are 4 to 12 data points for actual  Trade-In-Marketplace Offers for vehicles of the same year, make, model and trim.  The low price is based on the lowest offer, and the high price is based on the highest offer within the last 30 to 60 days.  Additional data points displayed are based on the most current offers.



Car Trade-In vs For Sale By Owner? #cars #for #rent


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‘Car Trade-In’ vs ‘For Sale By Owner’?

If you decide to trade-in your used car. here are some handy tips:

  • Never reveal your intention to trade-in a used car to a dealer.
  • Negotiate and settle on a price for the car you’re buying first. Then, tell them you want to do a trade-in. You may get a better deal this way.
  • Find out your used car’s Wholesale and Retail value before you go to a car dealer. Dealers give wholesale values for car trade-ins, after deducting the cost of reconditioning them. Knowing these values in advance should help you in your negotiations, since you will know what your car is worth. And hopefully, put more money in your pocket.
  • Some dealers may create a “charge-back” to you somewhere in your purchase contract without you knowing it. Check and have them remove it, if it’s in your purchase contract.

Avoid used “Car Trade-In Allowances”.

Used car dealers give Trade-in allowances to sellers who they perceive to be trying to get the most value for their used car at trade-in. A car dealer may include this charge in your purchase price, to balance out extra money he would’ve made had you not negotiated heavily. They may also not give you any discount off the sticker price, even if you deserve it.

  • Read and understand your entire purchase contract before you sign it. You can avoid problems at the car dealer’s lot doing so.

When it’s time to sell your used car. you can always sell it on AutoCrisis.com. It’s FREE with Photo, Fast and Easy!



My New Car Negotiation – Trade-In Strategy Enacted #discount #cars


#used car trade in value
#

My New Car Negotiation Trade-In Strategy Enacted

If you ve been following along, you know that my dying car. a 2000 Pontiac Grand Am, was on its last legs and I needed to move quick.

At last check, I had decided that my best car buying strategy was to go new vs. used, due to the inflated prices on used cars at the present time.

Beyond that, given the current incentives on new cars, I found the best new car value to be the 2012 Chevy Malibu, as GM was offering a total of $3,500 in rebates. Additionally, I had $2,000 in cash rewards from an old GM card I used heavily a few years ago, for a grand total of $5,500 off, before negotiation.

I didn t want to stop there though. So I started researching.

Researching Car Prices Before Negotiating

The base Malibu was plenty of car for me:

  • 17 alloy wheels with performance tires
  • power windows, doors, seats
  • keyless entry
  • AM/FM/XM/MP3/CD
  • AC
  • 6 air bags
  • cruise
  • automatic trans w/ manual tap shifting

all things you typically have to pay up for on entry level cars. For me, to ask for anything more? Greedy.

Before you try to negotiate with a dealer, it s important to know EXACTLY what car you want. I wanted the base Malibu, with no additional options.

Once you know that, find out what the MSRP is. MSRP is a good I should never pay more than this starting point, but that is all. For the Malibu, the MSRP was $22,870.

The next price you should find is the dealer cost. You can find this at TrueCar.com .

TrueCar listed this at $21,654 for the base Malibu, before rebates.

TrueCar also lists the market average of what that car is selling for. The Malibu LS was averaging a sale price of $22,406 (before rebates).

Let the Car Negotiating Over Email Begin

Armed with this info. my next step was to email 5 Chevy dealerships. You can find a contact email on their website or the email address for their internet sales manager (all dealers have one these days).

I would much rather do all of my negotiation work BEFORE going to a dealership so that you can avoid any chaos or sales tactics when you arrive, but that s just me.

My email read like this:

I am interested in buying a 2012 Chevy Malibu LS, with no added options, this weekend. Please give me your best offer on this vehicle including all fees, but excluding tax, title, registration, and any cash rebates or incentives from GM.

You ll notice that my simple email:

  1. Lets them know that I m a serious buyer.
  2. Tells them I am comparing offers.
  3. Tells them exactly what vehicle I was looking for (if they don t have it on the lot, they can find one).
  4. Asks for the best price THEY can give me forget all the automaker incentives.
  5. Allows me to get an apple-to-apple comparison between offers.
  6. Asks them to include any and all fees so there were no surprises when I get to the dealership.

Did I get what I asked for from any of the dealerships? Hell no. Of course not.

Dealerships negotiate for a living. If they can confuse you, make it seem like they are offering you something other dealerships are not, or just make you tired of asking for answers, they win.

Rule #1 with negotiation: don t be the one to make the first offer.

Most tried to work in the cash incentives (offered by GM, not them) to sweeten the overall price. I had to ask them to not do this.

You have to push and push hard.

I went back and forth with each dealership over email as few as 10 times and as many as 20 times before I got exactly what I was looking for. STICK TO YOUR ORIGINAL ASK.

Finally, I got responses from 4 of the dealerships, while one would only offer to beat the best offer . Sorry, but if you can t even give me a price, you re not going to get my business. Tell them as much, if this ever happens to you.

I had to tell a few I was heading out to another dealership right now before I got their actual offers.

Two offers were over the $22,870 MSRP. One was $22,500. The best offer came in at $21,914.

Given that the dealer cost was just $260 under that, I was happy with this offer, so long as the dealer kept to its word of no additional fees.

On to the Dealership

I went to the dealership. They had the car I asked for and they said they had (if they don t have what they said they did, you should walk out). I took the car for a test drive, and it checked out.

It was time to sit down and continue the negotiation.

I decided not to push further on the $21,914 offer, given it was the best I had received by a decent amount, and was not much higher than the dealer cost.

We then went through the paperwork on the car, and indeed, there were no additional funny business fees. If there is funny business , that is another reason to walk out a negotiation tactic in its own right.

Trade-In Negotiation

Next, it was time to discuss trading in ole Grandy.

Before going to the dealership, I researched Grandy s market worth so that I knew ahead of time what I wanted to get out of any trade-in negotiations.

KBB priced the trade-in value at $1,084 and the private-seller value at $2,119 for good condition (the description fit). Given Grandy s recent issues, I felt much better leaving her at a dealership than selling to a private party. If I could get $1,500, I d be satisfied.

The appraiser at the dealership looked at Grandy and came back with an offer of $1,200.

I countered at $2,100. They countered at $1,600. I told them to throw in some floor mats.

Done deal.

Of course, they tried to sell me some rust-protection, extended warranty crap. I said no , as they expected.

When all was said and done, the final out-of-pocket was:

$22,870

$956 Dealership negotation

$2,500 GM Chevy Malibu consumer cash

$500 auto show bonus

$500 GM loyalty bonus (for trading in the Grand Am)

$2,000 GM card cash back

$1,600 trade-in

_____________________

= $14,814 (before tax, title, registration)

Not bad! There were no good financing offers (2% or less is good, in my book), so I paid in cash.

Could I have done better? Maybe a tad if I had REALLY pushed it, but I think I did pretty good for myself. In the end, I was satisfied with the price and the purchase.

If I don t sell her this year, maybe you ll be hearing the story of ole Mally in 15 years. Of course it might be 40somethingfinance.com by then.

Car Buying Discussion:

  • What car negotiation tips do you have?
  • Have you negotiated over email before? Did the dealer keep their promises?
  • What is the most off of MSRP you have purchased a car?


Ohio Sales Tax Trade-In Allowance #car #hire #spain


#car trade in
#

Ohio Sales Tax Trade-In Allowance

When a new car dealer sells a new motor vehicle and takes another vehicle in on trade, Ohio allows a reduction to the taxable sales price for the amount of the trade-in.

For example, if a new vehicle with a price of $25,000 is being purchased, and the dealer allows a trade-in credit of $10,000 on the vehicle being traded in, sales tax applies to the net price of the new vehicle ($15,000). This trade-in reduction also applies to the sale of new watercraft, outboard motors, and personal watercraft.

No. The trade-in reduction only applies to the sale of new vehicles.

Will I get the trade-in reduction if I trade my boat in on the purchase of a new car?

No. To qualify, the trade-in must be on the same type of vehicle. Example: Trade-in of a boat for a new boat, or an automobile for a new automobile.

I am currently leasing a car. Can I trade it in on a new car and get the trade-in reduction?

No, you must own the vehicle you are trading in. If you purchase the leased vehicle from the lessor, and then trade it in on a new vehicle, the trade-in reduction would apply.

Does the trade-in reduction apply to aircraft?

No. The reduction only applies to motor vehicles, watercraft, outboard motors, and personal watercraft.

I owe more on my old vehicle than the dealer will give credit for on a trade-in. Will this negative equity affect the trade-in allowance?

If you have questions about the Ohio sales tax trade-in allowances please contact your Bruner-Cox LLP engagement executive, or theresa.mullen AT brunercox DOT com. State and Local Tax Leader, at 330.497.2000, ext. 4129.



Five ways to increase a car’s trade-in value #car #warehouse


#trade in value for cars
#

Five ways to increase a car’s trade-in value

Related Stories

According to Edmunds .com, a new car depreciates in value up to 9 percent in the first minute it’s driven off a dealer’s lot. After five years, your car holds only 40 percent of its true market value — and that’s without all the other considerations that can reduce its trade-in value. Some things to consider doing when you’re ready to get rid of your car:

1. Make repairs: From major engine problems to minor maintenance issues or cosmetic, paint or upholstery defects, a vehicle in solid running order is one of the most fundamental value boosters.

Nationwide Insurance suggests talking to your mechanic to see if repair costs will outweigh trade-in value. No need to fully restore your car, but a vehicle in like-new condition makes a good lasting impression.

2. Clean it: Appearances count, and if the first thing a buyer or dealer sees is a filthy car, he won’t even bother looking under the hood to see what’s inside. A few hundred dollars for a quality carwash could increase the value of your car by thousands.

3. Prepare your records: Websites such as Carfax.com will have your vehicle’s history on file. Take the next step by saving copies of your maintenance and repair receipts. Document everything from oil changes to servicing.

4. Get an appraisal: Kelley Blue Book or NADA guides can only estimate what your car is worth. Contact a professional appraiser for a full inspection and true valuation of your vehicle. In tandem with repairs, this will give you more bargaining power when going to trade in your car.

5. Don’t settle: If you’ve learned to not take the first offer that comes along from a dealer when shopping for a new car, don’t settle for the first figure given to you on a trade-in. One of the best ways to increase the trade-in value of your vehicle is to shop your car around to several places and people for the best offer you can get.



Utah Vehicle Trade-in Center – Ken Garff Honda Downtown #car #tuning


#car trade in
#

Structure My Deal Recent Activity

Trade-in Estimate

Est. Payment

What’s the difference between Prequalifying and Applying for Credit?

If you have credit concerns, we can help! Prequalify first to determine if there are financing options that work for you.

Trade In Your Vehicle at Ken Garff Honda Downtown

Selling your vehicle is as easy as 1,2,3 here at Ken Garff Honda Downtown located in Salt Lake City, UT. We are the ONLY certified AutoTrader Buying Center in the state of Utah. This means we can provide you with the best offer and easiest selling/trading experience. Whether you are looking to trade in your vehicle and upgrade to a new ride, or if you simply just want to sell us your car, we can help!

How do I trade-in my car? 

1. Complete the form below and get an instant offer on your vehicle based on today’s highly favorable pre-owned car market values.

2. Bring your vehicle to Ken Garff Honda Downtown for a complete inspection of your vehicle and receive your final offer.

3. Trade in your car OR redeem your offer for cash.



Utah Vehicle Trade-in Center – Ken Garff Honda Downtown #sell #used #car


#car trade in
#

Structure My Deal Recent Activity

Trade-in Estimate

Est. Payment

What’s the difference between Prequalifying and Applying for Credit?

If you have credit concerns, we can help! Prequalify first to determine if there are financing options that work for you.

Trade In Your Vehicle at Ken Garff Honda Downtown

Selling your vehicle is as easy as 1,2,3 here at Ken Garff Honda Downtown located in Salt Lake City, UT. We are the ONLY certified AutoTrader Buying Center in the state of Utah. This means we can provide you with the best offer and easiest selling/trading experience. Whether you are looking to trade in your vehicle and upgrade to a new ride, or if you simply just want to sell us your car, we can help!

How do I trade-in my car? 

1. Complete the form below and get an instant offer on your vehicle based on today’s highly favorable pre-owned car market values.

2. Bring your vehicle to Ken Garff Honda Downtown for a complete inspection of your vehicle and receive your final offer.

3. Trade in your car OR redeem your offer for cash.



Trade-In Marketplace #payment #calculator #for #cars


#trade in car value
#

Get a Cash Offer Before Visiting the Dealership

Enter Your ZIP to Get Started

Your Trade-In Marketplace offer is fast, convenient and unique to your vehicle and its condition.

Other trade-in value ranges estimate a model’s general worth, but a Trade-In Marketplace offer is a real cash offer for your specific car that’s 100% backed by AutoTrader.com.

You can use this “sell it now” price to turn your car into cash or start negotiating toward a new car. You might get more for your trade, but you’ll never accept less, as long as the car’s information and condition are verified.

3 Steps to Getting Cash for Your Car

The more information you provide, the more accurate your offer will be, so consider having your VIN (Vehicle Information Number, which can be found on your registration), owner’s manual, service records and other useful documents on hand while answering the questions.

Bring your car to any of the dealerships listed for a final inspection. Once all information is verified, you choose whether to leave with a check or use the offer toward a new car.



Utah Vehicle Trade-in Center – Ken Garff Honda Downtown #discount #car #rental


#car trade in
#

Structure My Deal Recent Activity

Trade-in Estimate

Est. Payment

What’s the difference between Prequalifying and Applying for Credit?

If you have credit concerns, we can help! Prequalify first to determine if there are financing options that work for you.

Trade In Your Vehicle at Ken Garff Honda Downtown

Selling your vehicle is as easy as 1,2,3 here at Ken Garff Honda Downtown located in Salt Lake City, UT. We are the ONLY certified AutoTrader Buying Center in the state of Utah. This means we can provide you with the best offer and easiest selling/trading experience. Whether you are looking to trade in your vehicle and upgrade to a new ride, or if you simply just want to sell us your car, we can help!

How do I trade-in my car? 

1. Complete the form below and get an instant offer on your vehicle based on today’s highly favorable pre-owned car market values.

2. Bring your vehicle to Ken Garff Honda Downtown for a complete inspection of your vehicle and receive your final offer.

3. Trade in your car OR redeem your offer for cash.



Vehicle Trade-in #local #car #dealerships


#trade in vehicle
#

Kevin Guest

I purchased a new vehicle and traded in my old one. Figures are as follows

Old truck cost: $13500

Trade in on old truck: $5000

Accum Dep. on old truck: $8000

New truck cost: $18600

Note Payable: $13600

Kevin Guest

Haskel LaPort Guest

Truck (old) 13,500

Accum Depr (old) 8,000

Loss on Disposal 500

Truck (new) 18,600

Notes Payable 13,600

The above is a book entry (financial reporting)

the entry for tax purpose is different.

For tax purposes, if it s a trade-in, there s no

loss recognized (it s considered a like-kind exchange), you

build the loss into the basis of the new truck, therefore,

the new truck (for tax purposes only) has a cost basis

of 19,100 rather than 18,600.

I could not disagree more with your GAAP entry. Trade-in values,

especially when trucks and autos are concerned mean absolutely nothing. How

many of us have walked into a dealership and been offered $500 for our

trade-in and then went into another dealership and been offered 10,000? Its

all bullshit, a game, a con, certainly not an arms length transaction. The

dealership will just raise or lower the asking price of the new vehicle to



Trade-In Marketplace #floor #mats #for #cars


#trade in car value
#

Get a Cash Offer Before Visiting the Dealership

Enter Your ZIP to Get Started

Your Trade-In Marketplace offer is fast, convenient and unique to your vehicle and its condition.

Other trade-in value ranges estimate a model’s general worth, but a Trade-In Marketplace offer is a real cash offer for your specific car that’s 100% backed by AutoTrader.com.

You can use this “sell it now” price to turn your car into cash or start negotiating toward a new car. You might get more for your trade, but you’ll never accept less, as long as the car’s information and condition are verified.

3 Steps to Getting Cash for Your Car

The more information you provide, the more accurate your offer will be, so consider having your VIN (Vehicle Information Number, which can be found on your registration), owner’s manual, service records and other useful documents on hand while answering the questions.

Bring your car to any of the dealerships listed for a final inspection. Once all information is verified, you choose whether to leave with a check or use the offer toward a new car.



Tricks of the Trade-in #used #car #price #calculator


#car trade in value
#

Tricks of the Trade-In

How to Handle Tough Trade-ins and Use Pricing Websites to Your Advantage

There s a wise old saying that reminds us a little knowledge is a dangerous thing. This is particularly true when it comes to car shoppers.

You know the type. The customer strides confidently into your dealership armed with expert information about the value of the trade-in. Maybe he or she is clutching a printout from kbb.com, NADAguides.com or blackbook.com. In short, the customer plans to dictate rather than negotiate what you ll give for the vehicle. So how do you deal with tough customers? And how do you use those pricing websites to your advantage?

Turning perception into reality

When the customer is fixed on the wrong value for a trade-in, it s up to you to shift his or her expectation back to the correct value. At this critical moment, you need information, not confrontation. The good news is that you have it at your fingertips, because you too can use the pricing websites the shopper visited to determine the value. But the difference is that you ll work with the shopper to help determine the true trade-in value.

These Tricks of the Trade-In make it simple to put website pricing data to work for you.

The appraisal

Ask the customer to show you the car for an appraisal. Walk around the vehicle together, taking specific notes about the vehicle s condition, highlighting any flaws, dents or scratches. Next, open the trunk and inspect the spare tire. Also, be certain to make notes regarding the condition of the interior, the actual mileage and any other critical details that affect the vehicle s value.

The profile

Now it s time to create a true profile of the vehicle s worth. Be sure to keep the customer involved in this process, because together you will build the vehicle online using your notes and your knowledge. Bring the customer back to your desk, visit Cars.com and click on the Research tab. Then go to the Kelley Blue Book section. At this point, it is extremely important to demonstrate to the customer how to accurately value his or her vehicle as a trade-in versus a purchase. This is a simple step because Kelley Blue Book allows you to select Trade-In Value or Retail Value. Explain to the customer that the Retail Value includes the fees a dealer pays to prepare that vehicle for resale, including its reconditioning work. Once you clarify this vital difference, check off all the optional equipment for the vehicle and input the actual mileage. Also, make sure to check off everything that is right and wrong with the vehicle.

The value

As you input the information, Kelley Blue Book automatically calculates the vehicle s value under three ratings: Fair, Good and Excellent condition. In most cases, the customer rates the vehicle as Excellent, resulting in an inflated value. Very few vehicles are truly excellent. According to Kelley Blue Book, a vehicle has to be exceptional to be rated excellent. The body and interior must be free of ANY wear or visible defects. Good condition more appropriately characterizes most customer trade-ins. Kelley Blue Book states: A good vehicle will need some reconditioning to be sold at full retail price; however, any major reconditioning costs should be deducted from the value.

By working with the customer to accurately input the vehicle information, together you will arrive at the appropriate vehicle condition rating and the most accurate vehicle valuation.

Using these Tricks of the Trade-In allows you to reset the customer s thinking about the value of the trade-in. You included the customer in the process and used the pricing tools that he or she already trusts.

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Maximize Your Car Trade-In Value with These 5 Tips #car #rental #houston


#trade in value of car
#

5 Ways to Increase a Car s Trade-in Value

The day had finally come and it was time for me to sell my car and obtain an auto loan to buy a brand new vehicle. My old, battered Honda Civic was still in great running condition, and with nearly 180,000 miles on the odometer, had accompanied me on many journeys. But it had seen better days, and the rust, the peeling paint, the nicks and the dents all but convinced me that its trade-in value would be modest at best, backed by all the research I did on its overall worth.

What came as a surprise upon selling it was that I was offered nearly double its Kelley Blue Book trade-in value (and this was after my generously sentimental appraisal of my old four-wheeled companion). That was last year, and some reliable sources have since informed me that the car has had not one, but two possible owners since I sold it, a clear indication that it s further retained what value it still has.

I discovered that day that the trade-in value of my car was much higher than I expected due to a number of relative factors and, that I underestimated its said value due to being misinformed about trade-in values in general.

Granted, it fetched a higher dollar amount since I sold it instead of trading it in, but that s OK. If you re looking to part ways with your vehicle, don t go unprepared. When you understand what affects your car s worth, you ve got a clear path to knowing how to maintain or even raise its value. It can earn you more money for your old ride, therein saving you money when upgrading to a new one, especially when an auto loan is concerned.

How Are Trade-In Values Determined?

To calculate trade-in value, visit the Kelley Blue Book website. You ll be asked to enter the make, model, year, mileage, features and condition of your car, plus whether you re looking to trade it, sell it or if you re just curious for a dollar figure.

But the Kelley Blue Book price goes beyond those simple details. Priced high or low, the trade-in value of cars takes into account other important details.

1. Brand

What s really in a name? A whole lot, according to the writers at High Gear Media. The first name of a vehicle can have a tremendous effect on its resale value, regardless of the condition or quality of the vehicle in question, they said. So, even if your Geo Prizm or Ford Pinto is in tip-top shape, it probably won t command that much coin in the trade-in process.

On the other hand, marques relied on for their reliability namely, Japanese automakers like Honda, Toyota, Subaru and Mazda do demand high resale values, as do many luxury car makers.

2. Transmission

Despite claims that they re better at connecting the driver to the car and to the road, stick shifts have declined in popularity in recent years in favor of the more passive P-R-N-D-3-2-1 of an automatic transmission. In general, an automatic transmission will recoup its cost, typically between $1,000 and $2,000, writes High Gear Media.

And while manual transmissions won t exclude you from trading in, it can be made more difficult due to their decreased demand.

3. Paint, Tech and Mods

Your car s garishly neon pink color is for few people in this world of freeways lined with sober, silver-hued vehicles. So too might be your car s super-hi-fi stereo, which could actually backfire on the resale value if you spent more on it than the car.

Though your Toyota Corolla might hold a solid auto trade-in value, aftermarketing it into a super-modified, super-charged, super-rimmed Formula 1 wannabe won t do you any favors on the resale front. Upgrades and options can detract from a car s value.

4. Mileage

It s worth repeating that mileage affects your car s worth. Even when the exterior, interior and mechanical conditions are ideal, too many miles means a shorter lifespan for your car, and will be reflected by low trade-in values.

Getting the Best Car Trade-in Value

According to Edmunds.com, a new car depreciates in value up to 9 percent in the first minute it s driven off a dealer s lot. After five years, your car holds only 40 percent of its true market value and that s without all the other considerations that can reduce its trade-in value.

Before taking your car to sell or trade in, consider spiffing it up with five of these value boosters.

1. Make Repairs

From major engine problems to minor maintenance issues or cosmetic, paint or upholstery defects, a vehicle in solid running order is one of the most fundamental value boosters. The goal is, after all, to sell your car so someone else can drive it.

Nationwide suggests talking to your mechanic to see if repair costs will outweigh trade-in value. No need to fully restore your car, but a vehicle in like-new condition makes a good lasting impression.

2. Keep It Clean

Wash your car! As well as wax and detail it, too. Appearances count, and if the first thing a buyer or dealer sees is a filthy car, he won t even bother looking under the hood to see what s inside. A few hundred dollars (or less) for a quality car wash could increase the value of your car by thousands.

3. Keep Records

Websites like Carfax.com will have your vehicle s history on file based on its VIN number. Take it to the next step by saving copies of your maintenance and repair receipts. Document everything from oil changes to servicing.

Documenting the vehicle’s service history can increase its value by showing that it’s been well maintained, according to Nationwide.

4. Get It Appraised

Kelley Blue Book or NADA guides can only estimate what your car is worth. Contact a professional appraiser for a full inspection and true valuation of your vehicle. In tandem with repairs made from your mechanic, this will give you more bargaining power when going to trade in your car, and hopefully more value for your ride.

5. Don t Settle

If you ve learned to not take the first offer that comes along from a dealer when shopping for a new car, don t settle for the first dollar figure given to you on a trade-in. One of the best ways to increase the trade-in value of your vehicle is to shop your car around to several places and people for the best offer you can get. You never know when the next dealer will give you top dollar for your investment. And remember: it is an investment.

I realized that my car was worth more than I expected, even in its battered state. If I had done my homework and taken the steps above to improve its resale and trade-in values, I might have gotten an even higher offer.

Remember this when it s time to trade in your vehicle. You might miss the times you had together on the road but you won t miss the added savings your old friend brings you when it s time to buy a new vehicle.



Trade-In Options for Your Used Car #used #cars #cheap


#trade in your car
#

Trade-In Options for Your Used Car

1 of 4

Trading in an old car was once the Achilles’ heel of car buying, exposing owners to lowball offers and complicated negotiations. But happily, the process now can be more lucrative and user-friendly. From up-front price quotes to guaranteed trade-in values to car-buying consultants who handle the entire transaction via the Web, dealers are providing smoother transitions between your old car and your new one.

Shoppers love the convenience of trading in, since it completes all auto-related chores in one dealership visit. They avoid the headache of selling their old car and, as a bonus, the dealer handles all the DMV paperwork. And in some states, trading in can provide a break in sales tax. Our article, “What New Car Fees Should You Pay?” explains this in more detail.

But what if you were offered less than you expected for your car? Your best bet is to sell it yourself, but that takes time and perhaps more effort than you had in mind. Here are a few alternatives to trading in your used car at the dealership.

Before you begin exploring trade-in alternatives, you should have a baseline figure on what your car is worth. A good starting point to assess that worth is to use the Edmunds used-car appraisal tool. Also, check online classified ads and find cars comparable to the one you want to trade in. This helps establish your car’s current value. Remember that trade-in prices are lower than private-party and dealer retail prices.

Here’s a round-up of trade-in alternatives for consumers. We ranked them in alphabetical order:

AutoTrader’s Instant Trade-In Offer: Long known for used-car classifieds, the AutoTrader Web site now offers to appraise your trade-in. give you an up-front price and connect you with dealers. Input a few details about the car and then a few minutes later, you’ll get an e-mail with an estimated value. The site lists dealers who will either give you a check for your car or a value for trading it in on a new car. Restrictions apply, but it does present a stated price that might give you a greater sense of confidence before you go to a dealership.

Make sure you honestly answer the questions about the car’s condition level, because the offer is subject to change when the participating dealership sees the car. While it is nice to get an instant offer, the “instant” part only applies to the e-mail you get: It actually takes longer at the dealership than a typical trade-in appraisal. This is because the dealership will conduct its usual inspection and then has to input its findings in the AutoTrader tool to verify the figures.

AutoNation Direct: AutoNation Direct is the online arm of AutoNation, the country’s largest auto dealership chain. One of its car-buying consultants will appraise your car based on your description of its condition and other factors, such as mileage, and give you an up-front price. This removes the negotiating that car buyers dread. The entire transaction can be concluded at the car buyer’s home or office, including the trade-in. Here’s more about AutoNation Direct’s pricing system .

It’s important to understand that AutoNation Direct isn’t trying to distinguish itself by offering the best trade-in prices, says Simon Smith, its national sales director. The main benefit is what Smith calls a “protected buying experience” that is free from negotiating pressure. While Edmunds.com hasn’t itself used the AutoNation Direct trade-in process, many car shoppers give the service high marks.

CarMax: This used-car superstore has more than 100 outlets in 27 states and promises, “We’ll buy your car even if you don’t buy ours.” Edmunds has used this service many times when selling long-term test cars and we’ve often been pleasantly surprised at the high prices CarMax has offered. Sometimes the used-car chain offers us less than we expected, but it at least gives us a guaranteed back-up plan and we can decide whether it is worth our time to try and improve on the offer. As one CarMax salesman once told us, “Our checks don’t bounce.”

Inspection takes about 30 minutes and the trade-in offer is good for seven days. Some customers have found that the best way to dispose of their old cars is to negotiate a deal for a new car elsewhere, then sell their old one to CarMax, where the prices are typically better than at a traditional dealership. Another effective strategy is to get the CarMax estimate and list the vehicle for about $1,000 over the CarMax offer in a free online classified. If the vehicle doesn’t sell in six days, you can take it back to CarMax and sell it there before the offer expires.

Factory Trade-In Programs: These alternatives are really for a future trade-in, not the current one. If you buy a new Subaru or Tesla, the car comes with a guaranteed trade-in price. For example, Subaru’s Guaranteed Trade-In Program states how much a Subaru dealer will give you for the car when you bring it back later as a trade-in. For some, this removes the doubt about the impact of depreciation. The buyers can, in a sense, see into the future and know what their new car will be worth as a trade-in. This trade-in price is available for six years.

If you finance your Model S electric vehicle purchase with Tesla (admittedly, a small pool of people), the company guarantees that the car will have “the top residual value of any high-volume premium sedan brand (Audi, BMW, Mercedes or Lexus)” after three years of ownership. Buyers will get a “resale value guarantee” letter shortly after they purchase the vehicle, according to Tesla. The method to calculate the value and to cash in the offer is somewhat complicated and is outlined on the Tesla Web site.



Vehicle Trade-In Values #cars #for #rent


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VEHICLE TRADE-IN VALUES

I have read and understand the conditions stated below and will not hold Canadian Blue Book Trader responsible for the price I buy or sell a vehicle for.

EXPLANATION OF CONDITIONS

Estimated trade-in value is what consumers can expect to receive when trading in their used vehicle at a Canadian powersports dealer. This value is based on a unit in average condition. To rate as AVERAGE, the unit should be able to pass a safety inspection. The body should be in good shape and all mechanical and electrical components should be in good working order.

Units in clean or extra clean (showroom) condition will command a higher trade-in value than the listed value on this site. Also the estimated trade-in value you receive on this site does not make allowance for any add-on accessories – it is based on a unit with all original standard equipment.

The value of any vehicle will depend on the cosmetic condition, mileage, mechanical condition and origin. Maintenance history, option upgrades, performance history and current regional economy could have an effect on final trade-in price.

Selling a unit privately will usually net the owner a higher value than shown on this site. Remember the dealer has added costs in selling your unit. These include performing a safety inspection, reconditioning of unit, offering a warranty, cost of advertising, sales commissions and general cost of doing business (rent, staff, etc.)



8 tips for negotiating a car trade-in #car #financing #calculator


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8 tips for negotiating a car trade-in

5. Negotiate the new purchase and car trade-in separately. Conventional wisdom dictates that each transaction should be treated separately. However, rather than negotiating the new car price first, Reed suggests you start the deal with the car trade-in, especially if you have a fairly sought-after car. One way to find out is to put up an ad on Craigslist.org and see what kind of responses you get. Leave off your phone number if you like and just use the Craigslist.org e-mail address, but see how many people bite.

“The trade-in is the weakest part of the deal. But if you have something desirable, the only reason the dealer won’t take it is if he already has two or three of the same vehicle on his lot,” says Reed.

6. What should you say? Start your negotiation by letting the salesperson know you’ve done some research, says Scott. “Say something like, ‘I was researching cars online to see what I can get for this car,’ not ‘it’s worth $4,000 and not a penny less,'” Scott says.

7. Avoid game playing. Reed says some unscrupulous car dealers have been known to throw your keys on the roof so you can’t leave until you drive off in a new car .

“Avoid all this game playing, and don’t surrender your keys,” says Reed. “Make a phone call before you go, ask the used-car manager what the value of your trade-in is. If you get a negative feeling on the phone, you’ll want to scratch them off your list and save yourself a trip.”

Salespeople may also try to hold on to your driver’s license and registration, says Emerson. “Carry a copy of your driver’s license to give them and don’t part with the registration until you’re in the finance office.”

8. Explore the tax advantage. All but eight states allow you to pay sales tax on the purchase price of the new vehicle minus what the dealer is giving you for your car trade-in. The reduction in sales tax in states with rates of 9 percent to 11 percent can be substantial. Check your state’s tax advantage. Emerson says you can save as much as $1,000.

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Used Car Trade-In Value from Black Book #car #cover


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Get a Black Book Used Car Appraisal on Your Trade-In

In addition to your used car appraisal, get a free new car price quote.

Widely known and highly respected in the automotive industry, Black Book is an online leader in offering timely, independent and accurate used car values. Black Book pulls actual numbers that vehicles are fetching at wholesale auctions nationwide and uses them to find an accurate, up-to-date value for your used car or truck. To learn the Black Book appraisal value of your used vehicle, simply follow the directions below. It’s as easy as 1..2..3!

If you do not want a new car price quote, click here  to get your Black Book used car value.

Related Topics

There’s no such thing as exact pricing when it comes to your used car trade-in. The exact appraisal amount will change based on where you live, the time of the month even who does the work-up. So to control the process, work with the used car appraisal system that more dealers count on.

Coming in with a Black Book appraisal gives you credibility with the dealer. After all, those are the numbers a majority of dealers use and those are the numbers you’ll be negotiating with. And make sure to print out your Black Book appraisal and bring it to the dealer. That way the dealer will know up front that you’ve done your homework.

Using Black Book to Appraise Your Used Car

One more thing. The Black Book appraisal you receive doesn’t replace the actual on-the-lot appraisal. The final price may be lower (or higher) on that day based on market trends and your used car’s condition. Good luck!

We take privacy seriously. By submitting your request, you agree that you are subject to our privacy policy and terms, and that an Internet dealer or their representatives may call you using an automated telephone dialing system or automated voice message. Your agreement is not a condition to the purchase of any goods or service.



6 ways to boost your car s trade-in value – CBS News #trade #in #car #value


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6 ways to boost your car’s trade-in value

You’re finally in tip-top financial shape to purchase a new car, but there’s one problem: How will you get your existing set of wheels off your hands?

You don’t have the time to deal with the hassle of a private sale, and you have no desire to auction it off.

You decide a dealer trade is the best way to earn cash for your vehicle with no strings attached. Afraid of getting lowballed by the car salesman? Don’t fret. Conducting research on the trade-in process and your car’s value will equip you with the tools needed to demand top dollar for your ride.

Let’s start with this video we did last year called “How to Sell Your Car for More Money.”

How trade-in values are determined

According to CarsDirect. five factors determine the trade-in value:

  • Year. Newer models get the most attention from used-car shoppers. “When a dealership anticipates a quick sale, they are more willing to pay a higher price for it,” CD says.
  • Make and model. If the model holds value or is in high demand, the resale amount will be decent.
  • Condition. Both the exterior and interior appearance are a component of the vehicle’s appraised value.
  • Mileage. The higher the mileage, the lower the trade-in value. “Even if the vehicle’s condition is impeccable, an odometer reflecting high mileage may make a consumer less willing to purchase a car at a price acceptable to the dealership,” CD says.
  • Desirability. If your car is popular among consumers, you’re in luck.

So, make note of the mileage and condition of your car. Then, visit a site such as Kelley Blue Book to get an idea of what the trade-in value will be. Note: These sites often offer several different prices, including the trade-in value and one for private sales, so make sure you’re checking the right one.

Other sites that provide trade-in values include Edmunds. NADA Guides. CarsDirect and Black Book. Check several of them.

Edmunds says the trade-in value will be less than that for a private sale, which requires more effort on the owner’s part.

Keep in mind that values can also be different based on where you live and what’s popular in your area. So be sure to look at what similar vehicles are selling for in your community or state. Check newspaper ads and other local sources.

So now you’re prepared to negotiate a decent price. Is the offer you’re getting from the dealership fair? Scott Painter, CEO of California-based automotive search company Zag, told Bankrate :

For a resale, the average dealer is looking to make between 2 and 4 percent on a transaction. So take whatever your car’s value is and add in whatever cost it would take to refurbish the vehicle. Then, add in 2 to 4 percent, and as long as the trade-in price you’re given is in that window, it’s probably a fair deal.

Now let’s look at some ways to improve your trade-in’s value.

1. Bring the maintenance up to speed

I’m not suggesting you spend a load of cash and give the car a complete makeover. But the better the condition, the more money you’ll make. AutoTrader notes :

When it comes to making repairs to your used car, you need to determine whether or not the repairs will actually increase the value of the vehicle at resale time. Most importantly, you need to determine if you’ll be able to increase the selling price of the car enough to recoup the cost of those repairs.

2. Don’t forget about the body work

Too many dents, dings and scratches can be hard on the eye. So, suck it up and fork over the cash to have them repaired.

Said Dan Ingle of Kelley Blue Book. “Dent removal experts can be very affordable — often charging only $100 to remove several dings. You will be saving the buyer the headache of taking it to the body shop.”

“For a major dent where a panel needs to be repaired, it makes even better financial sense to fix it,” Ingle advises.

3. Provide service documentation

This information should be present on the Carfax report, if one is acquired, but don’t take any chances. “Any and all fluid changes, tire rotations, paint or body repairs, engine repairs and service and any other related maintenance documentation is important to have because it demonstrates to a dealer the care the vehicle has received during the time you owned it,” says AutoTrader .

If you didn’t keep the receipts, ask the shop you used for the documents.

4. Detail your ride

Some consumers are more interested in a visually appealing vehicle than they are with what’s under the hood. Sheronde Glover, founder and CEO of Car-Buy-Her, told Bankrate:

“Make sure your car is clean. A good detailing job might cost about $50, but it could increase your car’s value by several hundred dollars.”

Want to do it yourself? Check out AutoTrader’s comprehensive auto-detailing checklist here.

5. Negotiate the selling price separately

Don’t mention your trade-in until you’ve negotiated the purchase price of your new vehicle. Otherwise, the salesman will talk about them as a package and make the deal you’re getting a source of confusion. NewCars.com advises. “If the dealer asks if you plan on trading in your car, do not say yes or no, just say ‘Possibly, but let’s just talk about the new car price first.'”

Not satisfied with the final offer for your trade-in? Shop around at a few more dealerships, and you may be able to get more than you were initially quoted because the demand varies by location. If a vehicle identical to yours has been sitting on the lot for a month, don’t expect to get top dollar for your trade-in, Bankrate says.

What tricks have you used to boost your car’s trade-in value?

2014 CBS Interactive Inc. All Rights Reserved.



Car – Truck Trade-In Value #car #finance #calculator


#used car trade in value
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Ray Skillman Chevrolet

Welcome to Ray Skillman Discount Chevrolet in Indianapolis

Thank you for visiting Ray Skillman Discount Chevrolet, your location for a trusted Chevrolet dealer near Indianapolis, Greenwood, and Carmel. We can help you buy a new Chevy, repair the car you already have, and even trade in your old car for a newer model. With on-site financing, enthusiastic and knowledgeable sales associates, and certified vehicle technicians, we can keep you running for years to come. Visit us at our South Post Road location to discover great customer service and plenty of automotive choices!

New and Used Chevrolet Vehicles

From pickups to compact hybrids, we have a vehicle waiting for you at Ray Skillman. Choose from a variety of new models with optional features that will enhance your driving experience. We proudly sell Chevy models with added safety features, entertainment solutions, and more, so that you get a car, truck, or SUV perfectly tailored to your needs and lifestyle. We also sell used and Certified Pre-Owned vehicles of many makes and models, letting you select the vehicle that matches your budget.

On-Site Parts and Service

At Ray Skillman Chevrolet, we offer parts and service at our dealership so you can take advantage of the services of a certified mechanic who knows your vehicle inside and out. Our service department is happy to do anything from routine oil changes to larger repairs. If you prefer to do it yourself, then stop in and get the right part the first time in our parts department. We have access to all the Chevrolet parts you need so you can get your repairs and maintenance done in record time!

Stop By for Great Service

Head on over to Ray Skillman Chevrolet, located at 3891 South Post Road in Indianapolis. You can trust our sales team and repair professionals to care for your vehicle as if it were our own!



Car Trade-In vs For Sale By Owner? #bentley #cars


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‘Car Trade-In’ vs ‘For Sale By Owner’?

If you decide to trade-in your used car. here are some handy tips:

  • Never reveal your intention to trade-in a used car to a dealer.
  • Negotiate and settle on a price for the car you’re buying first. Then, tell them you want to do a trade-in. You may get a better deal this way.
  • Find out your used car’s Wholesale and Retail value before you go to a car dealer. Dealers give wholesale values for car trade-ins, after deducting the cost of reconditioning them. Knowing these values in advance should help you in your negotiations, since you will know what your car is worth. And hopefully, put more money in your pocket.
  • Some dealers may create a “charge-back” to you somewhere in your purchase contract without you knowing it. Check and have them remove it, if it’s in your purchase contract.

Avoid used “Car Trade-In Allowances”.

Used car dealers give Trade-in allowances to sellers who they perceive to be trying to get the most value for their used car at trade-in. A car dealer may include this charge in your purchase price, to balance out extra money he would’ve made had you not negotiated heavily. They may also not give you any discount off the sticker price, even if you deserve it.

  • Read and understand your entire purchase contract before you sign it. You can avoid problems at the car dealer’s lot doing so.

When it’s time to sell your used car. you can always sell it on AutoCrisis.com. It’s FREE with Photo, Fast and Easy!



Value Your Car Trade-In – Ontario Auto Center #used #car #dealerships


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Value Your Trade

Disclaimer: We will make our best efforts that posted prices are always accurate however, we are not responsible for any typographical or other errors that may appear on the site. If the posted price for a vehicle or service is incorrect due to a typographical or other error, such as data transmission, etc. this Dealership or Pixel Motion, Inc. are only responsible for the correct price, which will be provided as soon as we are made aware of such error(s). Ultimately, it is your responsibility to ensure that the information is 100% accurate with the Dealer.

Posted vehicle images and descriptions on our website is representative to what is provided by our suppliers. Please note that the actual vehicle may slightly differ from its specifications and/or images. The Dealership is not responsible for any typographical, pricing, product specifications, advertising or shipping errors. Advertised prices and availability are subject to change without notice.

In the event a vehicle is posted at an incorrect price due to these errors, or if an error in pricing was received from our suppliers, the Dealership reserves the right to refuse and/or cancel these orders.



How To Get the Best Trade-in Value for Your Car #cars #rental


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How To Get the Best Trade-in Value for Your Car

(Echo/Getty Images)

One of the great unknowns in buying a used car is what to do with your trade-in. Do you sell it yourself? Trade it in to the dealer? Or possibly donate it to charity? While value is set by strict IRS guidelines for charitable donations, you can control what value you get for your used car when it s time to trade it in.

Steven Lang is a man who knows the used car industry inside out. In addition to covering the car industry as a journalist, he has been an auto auctioneer and car dealer for nearly 16 years. He has also been in charge of inspecting, appraising and liquidating over 10,000 vehicles a year for Capital One Auto Finance.

His latest project is the Long-Term Quality Index. It s a study begun in early 2013 that now has tabulated the long-term reliability results of over 748,000 older used cars, SUVs and trucks throughout the United States. It contains trade-in information from across the country.

For example, the index shows a Mazda Mazda5 usually is traded in with 97,004 miles, which is below the industry average of 126,654 miles. Trading in a Mazda5 with more miles could decrease its value. Also, you can see via the index that a Mazda5 has better than average reliability in the 2010 model year, which could also help its resale value.

Lang’s top tip for getting the most trade-in value is making sure your car is clean when being presented to a dealer. A clean car always sells for more money. Make sure the vehicle is perfectly clean. You could add some value if it s detailed for a high-end vehicle. Dealers look at how the vehicle is going to look on their lot. That s their first and foremost concern. You want to have everything clean, Lang says.

The next advice Lang offers is to document recent work done on your used car. If you have any added value to the vehicle, such as you ve recently done some expensive maintenance to it such as a new timing belt or if for a hybrid you got a new battery for it, that information with receipts will help you get a better value. You can get some level of compensation for that. It s not going to be for the entire repair, he says.

Dealers will be able to market the car to customers with the enhancements. There is an added value for a dealer when they don t have to do additional work to a used car when it is traded in, Lang adds.

Cliff Wood, executive vice president of stores at CarMax. disagrees slightly with Lang s suggestions. He says, You might be tempted to take a spin through the car wash on your way to get your vehicle appraised. Save your time and cash. A car wash or last-minute maintenance will not impact the overall offer they make on the vehicle. What s most important is the long-term maintenance and care of your car.

He adds, To determine an offer on a car, most appraisers will look at mileage, the condition of the vehicle, the vehicle s accident history and how well it s been maintained, inside and out.

Something that could hurt your resale value is the level of customization your used car has. As Wood says, Even though you may enjoy personalizing your car, aftermarket modifications like larger tires or a unique paint color can narrow the market appeal, which in turn can lower the offer. While you may not want to paint your used car before trading it in, restoring stock equipment like its original wheels could help.

Both men also say a mistake car sellers make is not knowing the true value of their used cars when it comes time to trade them in. Always get a written appraisal from a company you trust. You can use online resources to provide general guidance, but know that these sites are not always accurate in estimating the offer you’ll get on a vehicle, Wood says. Wood’s own CarMax offers appraisals, which are good for seven days and don t require that you purchase a used car from the chain.

Lang says Edmunds.com is the most precise of the online appraisal tools. Objectively I find Edmunds has the most accurate prices, he says.

Another way to determine the value of your trade-in vehicle in your local market is to advertise it for sale on Craigslist. See how many bites you get for a given price, he says. You re testing the marketplace.

Finally, the best value for your trade-in continues to be selling it on your own if your used car still runs. Lang says you should trade in a car not in running condition if a dealer allows it and has trade-in allowances that provide exaggerated value to your non-functioning used car. Also, he says cars with major issues like transmission or engine problems should also be traded in because private buyers don t want to purchase potential headaches.

Otherwise, you are going to see more value by selling it yourself. Lang says the difference could be as high as 20 to 30 percent. I would say 95 percent of the time you re better off retailing it, even with problems, he says. Make sure the car is running well. Minor repairs that have a marked improvement in the performance are usually worth it, he adds.



Hyundai Announces Trade-In Value Guarantee Program – Consumer Reports #car #check #free


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Hyundai Announces Trade-In Value Guarantee Program

With a marketing strategy that takes aim at concerns about depreciation–and to drive up new-car sales–Hyundai has announced a new trade-in program that offers buyers a guaranteed price for their new vehicle, if they trade it in for another Hyundai within two to four years. It’s sort of a confidence-building measure, like the super-long warranties Hyundai started offering in 1999.

The guaranteed trade-in value will be determined by the Automotive Lease Guide (ALG) forecast of the vehicle’s future value. Between two and four years after purchase, if customers want to trade in their current Hyundai for a new one they will receive at least what was originally guaranteed. If it’s worth more at the time of trade-in, the customer will get the higher assessed price.

The program begins on or after May 1st and has no additional cost. It would most likely benefit people considering larger, more expensive vehicles, which tend to be more susceptible to price swings in a tough economy with roller-coaster gasoline prices.

The program carries two stipulations that could be possible deterrents to some customers: it requires that the vehicles be routinely serviced at Hyundai dealerships, and that the second vehicle be financed through Hyundai.

Just last month, Hyundai ended its job-loss protection program, which allowed car buyers to sell back their vehicle to Hyundai if they lost their job within the first two years after purchase. Hyundai continues to offer a longer-than-normal 5-year/60,000-mile transferable new-vehicle warranty, 10-year/100,000-mile powertrain warranty (which is not transferable; subsequent owners are covered under the 5-year, 60,000-mile new-vehicle warranty), and five years of roadside assistance.

In the past, Hyundai needed these attention-grabbing programs to help attract customers and boost sales. While these programs likely continue to influence purchases, the reality is that the current Hyundai lineup can truly stand on its own merits. In Consumer Reports tests, most Hyundais are performing well and reliability is in the top ranks.

Sales incentives can be icing on the cake, but they’re not the cake. No matter what brands you are shopping, take the time to research the best performing, most reliable, and safest vehicles for your needs and budget. Then consider the incentives.



Vehicle Trade-in #car #auctions #melbourne


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Kevin Guest

I purchased a new vehicle and traded in my old one. Figures are as follows

Old truck cost: $13500

Trade in on old truck: $5000

Accum Dep. on old truck: $8000

New truck cost: $18600

Note Payable: $13600

Kevin Guest

Haskel LaPort Guest

Truck (old) 13,500

Accum Depr (old) 8,000

Loss on Disposal 500

Truck (new) 18,600

Notes Payable 13,600

The above is a book entry (financial reporting)

the entry for tax purpose is different.

For tax purposes, if it s a trade-in, there s no

loss recognized (it s considered a like-kind exchange), you

build the loss into the basis of the new truck, therefore,

the new truck (for tax purposes only) has a cost basis

of 19,100 rather than 18,600.

I could not disagree more with your GAAP entry. Trade-in values,

especially when trucks and autos are concerned mean absolutely nothing. How

many of us have walked into a dealership and been offered $500 for our

trade-in and then went into another dealership and been offered 10,000? Its

all bullshit, a game, a con, certainly not an arms length transaction. The

dealership will just raise or lower the asking price of the new vehicle to



Michigan: New Exemption for Trade-in Vehicles. #world #of #cars


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Michigan: New Exemption for Trade-in Vehicles

Time to trade in your old car?

Updated, 1.14.2014. Senate Bill 90, signed into law as Act 234 of 2013. creates a similar system for use tax on the difference between trade-in and purchase price for motor vehicles and titled watercraft.

Michigan Governor Rick Snyder has signed Senate Bill 89 and House Bill 4234. which create a sales tax exemption for vehicles traded-in on the purchase of a new vehicle.

The governor calls the plan “good for Michigan residents ” and “good for Michigan’s auto industry, an important part of Michigan’s economic engine.” He said it will “make Michigan’s tax structure fairer while fueling our continued comeback.” Michigan is currently “one of only six states that charges sales tax on the full price of a vehicle when buyers trade in their current models.”

Automobiles and RVs

The bills amend the General Sales Tax Act to reflect the following changes:

  • Effective December 15, 2013, up to $2,000 of the agreed-upon value of a trade-in is exempt from sales tax when it s used as part payment of the purchase price of a new or used motor vehicle or new or used recreational vehicle, so long as that value is “separately stated on the invoice, bill of sale, or similar document given to the purchaser.”
  • The exemption limit will increase by an additional $500 each year, beginning January 1, 2015. This will end if the “recently enacted Medicaid expansion legislation is repealed.”
  • “Beginning in January 1 in the year in which the exemption exceeds $14,000, and each January 1 thereafter, there would be no limitation on the agreed-upon value used as part payment.”

Watercraft

The sales tax exemption also applies to sales of watercraft. There is no phase-in period for watercraft—the full exemption takes effect immediately. “Beginning November 15, 2013, credit for the agreed-upon value of a titled watercraft used as part payment of the purchase price of a new titled watercraft or used titled watercraft if the agreed-upon value is separately stated on the invoice, bill of sale, or similar document given to the purchaser.”

Revenue implications

Sales tax revenue in FY 2013-14 is expected to drop by an estimated $24.6 million. This impacts the School Aid Fund. Beginning in FY 2014-15, the added exemption values are expected to remove an additional $6 million (approximately) from Wisconsin’s annual sales tax revenue. Once fully implemented, the exemption on motor vehicle trade-ins is expected to cost between $250 and $450 million, annually.

Tit for tat

The exemption impacts Michigan’s reciprocal agreements with a number of states, “whereby Michigan and the reciprocal state each collect and retain sales tax on vehicles purchased in their respective state, even in instances when the vehicle will be titled and registered in the other state.” Specifics are available in the summary of Senate Bill 89 .

How does your business handle sales tax exemptions ?

Get Free Tax Rate Tables



NADA Trade-in Value #used #cars #prices


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NADA Trade-In Value on Used Cars

By visiting the National Automobile Dealers Association (NADA ) website, you will be able to determine an accurate value on your used trade-in. Trading in your vehicle will often alleviate the price of buying a new vehicle and will also help you come into some extra cash if you are looking to sell. The market for used vehicles has shown positive gains over the past couple of years, and many buyers are looking to purchase old vehicles due to better gas-efficiency or expiring terms on leased vehicles. So, if you have a sturdy vehicle that has served you well in your driving career, trading it in may be something to look into.

Depending on what type of vehicle you own, some – like SUVs – often have a higher trade-in value than if you were just going to sell. The NADA guide will help you determine which value will result in the highest monetary gain. It is up to you, the owner – to research and uncover the residual value of your vehicle and determine whether the trade-in value is truly profitable. This article will help you navigate the NADA website in order to determine the suggested NADA trade-in value.

Visit NADA online at www.nadaguides.com to get started. On their homepage, click on the “New and Used Car Center” link to bring you to the Car Research page. From here, it pays to have some background information on your car. Consult the owner’s manual for any specifics, or take your vehicle to a trusted mechanic to get a full assessment on its condition and performance.

Once you are on the Car Research page, select the make and year of your car from the list provided. Next, select model and trim. The trim is the style of the car, be it sedan, coup, or sports utility. You will also want to factor in any amenities, such as power steering and automatic windows. These details will influence value and the price you can negotiate for your vehicle. Providing the required information will help their system to generate the estimated NADA trade-in value for used cars.

Finally, you will want to enter the car’s mileage. The average wear and tear of your vehicle is represented by the miles it has on it, and this too will influence price and value. Higher miles do not necessarily mean lower value, so again it helps to include all the information you have and know on your vehicle in order to get the most accurate price.

From here, click “Continue” to receive your free trade-in report. On it, NADA will list four different values, but you will be interested in the trade-in value. This is broken down into 3 subcategories based on the condition of your car. Be honest when you answer whether the vehicle’s condition is rough, average, or clean. Remember that condition is relative, so what may be average to you, may be better or worse to potential buyers and dealers. Always shop around and conduct thorough research before you settle on a final asking price.



Car Trade-In Tips and Process #find #a #car


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The Trade-In Process

Last Modified: April 26, 2015 by Jeff Ostroff

Think Twice About Trading in Your Car!

Dealer’s never give you fair market value for your car. They offer wholesale value, which is $1,500- $6,000 less than market value. This is so they can sell your trade-in and make a profit. Dealers make it appear they are giving you a lot for your trade-in, but don’t be fooled. They are shuffling dollars around, charging you MSRP, or higher interest, or piling on wasted extras like rust proofing, paint sealant and extended warranties. They cry on your shoulder that they’ll get nothing on your trade-in. As you cry over their loss, here’s how they profit from you and the next owner of your trade-in: They put your trade-in on the lot for $1,500 over fair market value and stick a No Haggle tag on the windshield.

Always treat your purchase of a car and trade-in as 2 separate deals. A trade-in gives dealers 2 variables in the sales equation. By paying cash with no trade-in, everything is on the table, the dealer has no where to run, nowhere to hide. He can’t play the cash flow shell games, giving you a “good deal” on your trade-in, but fleecing you on the back end of the deal. After they agree on the new car selling price, tell them you want to trade-in and how much you want. They will either accept it or not, but at least you’ll know how low they will really go on the selling price of the new car.

Trade-In Value

Even with book prices, it’s difficult to determine the value of your trade-in, because each car is different. Mileage and condition are the biggest variables. Trade-in buyers concentrate on the trade-in and fall asleep during the rest of the deal blind sided by the cash flow shell game the dealer plays. By selling the car yourself, you have eliminated one way the dealer can cheat you out of your money. Click here to read our article about selling your used car by yourself .

Trade-in Tax Analysis

Don’t nix the idea of a trade-in without analyzing your situation because there’s a tax advantage to trade-ins. In some states pay sales tax on the difference between the new car and the trade-in. If you are buying a $25,000 car and your trade-in is worth $10,000, in Florida you’ll pay 6% tax on the difference.

Total outlay is ($25,000 – $10,000) + tax on difference = $15,000 + $900 in tax = $15,900

But supposing you got $12,000 for your trade-in selling it yourself through the newspaper. Now the total cash outlay is:

$25,000 + tax = $25,000 + $1500 in tax = $26,500

When you sell your old car and receive the $12,000, your effective cash outlay will now be:

$26,500 – $12,000 = $14,500

You can see in this case that you saved $1,500 selling the old car yourself. This was only possible because you were able to sell the car for $2,000 more than the dealer was offering.

Appraising Your Car at the Dealership

The Oscar goes to. They put on a good show. The appraiser will rub his fingers over every dent and dimple like he’s having foreplay with your car. They do this to panic you, setting you up for a low ball quote. They’ll say All these scratches, I don’t know how much we can give you. We’ll lose money on this trade-in, if we can sell it at all. Tell them it’s normal wear for that age. Tell them you are not trading in and watch them try to convince you to trade-in a car they’ll lose money on. Be prepared for this game and stand firm on the trade-in value of your car.

We’ll Give You Top Dollar For Your new Car!

Beware of dealer TV ads claiming they’ll pay you Top Dollar for your trade-in. They use psychology to let your brain trick you into thinking you’ll strike it rich. Your definition of top dollar is different from theirs. You’ll never make money on a trade-in selling it to a dealer. They may offer more than market value and while you’re celebrating in the end zone you fail to see they charged you full MSRP for the car or added wasteful extras.

Seasonal Pricing of 4 Wheel Drive Vehicles

If you are trading in a 4 wheel drive vehicle in the northeast, it can be worth more in the fall than in the spring because it can be considered a seasonal vehicle due to the 4 wheel drive. There is a big wholesale market out there for cars which are 3 years or older that will change over the seasons.

Warnings About Donating Your Car To Charity!

Charities raise millions selling vehicles donated by people looking for write offs associated with their generosity. People enjoy the hassle free environment of donating cars and supporting a good cause. If your donated car is usable, it’s auctioned below market value. The issue here is the charities often have consultants who sell the car for them at auctions and take up to 75% commission! Wouldn’t you be angry to learn that you thought 100% was going to the charity, but in reality they are only getting 25% of the money?

New IRS tax laws no longer allow charities to give you generous valuations on donated property. You can only write off the amount that they get for it at auction, so double check all this with your accountant. This is why I think the best way to maximize your giving is sell the car yourself on eBay Motors to get the maximum amount of money, then give that money to the charity.

If your car is unusable, it’s sold to a junkyard for $100 or more. The average selling price at charity lots is less than $1,000. If you donate a vehicle, get a written thank you from the charity verifying the vehicle, make, model, description and VIN#. The charity must give you an IRS Determination Letter that verifies they are a tax exempt charity under section 501 (c) (3). Some churches are not required to apply for exempt status, and may not have a letter.

You should be able to prove the value of the vehicle, so take photos, save classifieds, or an Auto Trader and store them with your tax records in case you get audited. You may need to fill out a separate IRS form for donations, so check with a tax expert and do it by the book. Don’t inflate the value of your car, it will raise a red flag. Instead of hunting through boxes of receipts for a great tax deduction, look in your driveway.



Used Car Trade-in Values Expected to Increase in June #used #cars #ni


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Used Car Trade-in Values Expected to Increase in June

2009 Chrysler PT Cruiser

If you re planning on trading in your used vehicle for a new car or different used vehicle soon, you may want to wait until June. The National Automobile Dealers Association says that compared to June 2010, trade-in values of small cars are predicted to increase more than 30 percent in June.

“Strong consumer demand for small used cars is driving up prices,” says Jonathan Banks, senior analyst with the NADA Used Car Guide, in a statement. “The NADA Guide increase in trade-in values for June should come as no surprise because it reflects a shortage of both new and used cars entering the market.”

12%

NADA s Used Car Guide also reports that trade-in values for small cars are up 18 percent through the first half of the year. Dealers are paying an average of $11,660 for a used vehicle, which is an increase of almost 30 percent since December 2008, the Associated Press reports.

Because used car values are up, sometimes it can be cheaper to buy a new car compared to the same used car .

“Fewer new cars have been produced as a result of the crisis in Japan, which has shifted consumer demand to the used car market,” Banks says. “High gasoline prices are also increasing the demand for both new and used small cars.”

If you own a small car and need to upgrade to something bigger or newer, waiting until June could help you get more for your trade.

Looking for an affordable small car. Check out the U.S. News rankings of this year’s best cars. Then, look for a great deal on a new car by checking out this month s best car deals. Also, be sure to follow us on Twitter .



Car Trade-In vs For Sale By Owner? #car #ratings #and #reviews


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‘Car Trade-In’ vs ‘For Sale By Owner’?

If you decide to trade-in your used car. here are some handy tips:

  • Never reveal your intention to trade-in a used car to a dealer.
  • Negotiate and settle on a price for the car you’re buying first. Then, tell them you want to do a trade-in. You may get a better deal this way.
  • Find out your used car’s Wholesale and Retail value before you go to a car dealer. Dealers give wholesale values for car trade-ins, after deducting the cost of reconditioning them. Knowing these values in advance should help you in your negotiations, since you will know what your car is worth. And hopefully, put more money in your pocket.
  • Some dealers may create a “charge-back” to you somewhere in your purchase contract without you knowing it. Check and have them remove it, if it’s in your purchase contract.

Avoid used “Car Trade-In Allowances”.

Used car dealers give Trade-in allowances to sellers who they perceive to be trying to get the most value for their used car at trade-in. A car dealer may include this charge in your purchase price, to balance out extra money he would’ve made had you not negotiated heavily. They may also not give you any discount off the sticker price, even if you deserve it.

  • Read and understand your entire purchase contract before you sign it. You can avoid problems at the car dealer’s lot doing so.

When it’s time to sell your used car. you can always sell it on AutoCrisis.com. It’s FREE with Photo, Fast and Easy!



How to Get the Most Value from Your Vehicle Trade-In #safest #cars


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Notice

If you’ve decided that it’s time to trade in your current car for a new model, there are some things you’ll want to keep in mind as you go through the process. Read on to learn what you can do to help maximize your vehicle’s trade-in value.

Research Your Vehicle’s Value

When it comes to your trade-in, it just makes sense to know as much as you can about the value of your car before you enter the dealership. The good news is that there are plenty of resources available at your fingertips. According to Judy Schumacher-Tilton, president of Tilton Automotive Group. “In today’s market, you have KBB, AutoTrader, Cars.com. For most customers, these have become the bible for trade-in value.”

Understand What Determines Value

Before you trade in your car, you may want to spruce it up a bit to increase the value. To do that, you’ll need to understand what dealerships are looking for when they assess the value of your car. About.com  notes that keeping your car neat and tidy can help make sure you get a higher return on your trade-in, because people think of a clean car as a well-maintained car.

Kelley Blue Book  recommends repairing burned out lights and cracks in the windshield; replacing brakes and/or tires; and fixing any dents, dings or scratches prior to going into the dealership.

Vice President of Urse Group. Doug Urse, adds that the important things to consider are average wear and tear, and mileage. Doug also recommends doing your research- “Checking Carfax to learn how many times the car has been traded, been in an accident, and if there are any open recalls on it is a good way to better understand its value.”

Learn Common Misconceptions

Once you learn your trade-in value from the dealership, it’s important to realize that their offer likely will not match the value you found in your research. However, this is not the dealer’s attempt to undervalue your vehicle, rather it’s due to costs they incur in order to ready your trade-in for resale.

Another factor in determining your trade-in’s value is demand and fluctuations in popularity, according to Bankrate.com. For example, high fuel prices have driven down the demand for larger vehicles that require tons of gas, yet this change in the industry may not be totally reflected in a value guidebook.

If you have more questions regarding your vehicle trade-in, contact your local dealer.

Other Blog Posts You Might Like:

Car Insurance 101

Understanding GAP Coverage



Michigan: New Exemption for Trade-in Vehicles. #cheapest #car #rentals


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Michigan: New Exemption for Trade-in Vehicles

Time to trade in your old car?

Updated, 1.14.2014. Senate Bill 90, signed into law as Act 234 of 2013. creates a similar system for use tax on the difference between trade-in and purchase price for motor vehicles and titled watercraft.

Michigan Governor Rick Snyder has signed Senate Bill 89 and House Bill 4234. which create a sales tax exemption for vehicles traded-in on the purchase of a new vehicle.

The governor calls the plan “good for Michigan residents ” and “good for Michigan’s auto industry, an important part of Michigan’s economic engine.” He said it will “make Michigan’s tax structure fairer while fueling our continued comeback.” Michigan is currently “one of only six states that charges sales tax on the full price of a vehicle when buyers trade in their current models.”

Automobiles and RVs

The bills amend the General Sales Tax Act to reflect the following changes:

  • Effective December 15, 2013, up to $2,000 of the agreed-upon value of a trade-in is exempt from sales tax when it s used as part payment of the purchase price of a new or used motor vehicle or new or used recreational vehicle, so long as that value is “separately stated on the invoice, bill of sale, or similar document given to the purchaser.”
  • The exemption limit will increase by an additional $500 each year, beginning January 1, 2015. This will end if the “recently enacted Medicaid expansion legislation is repealed.”
  • “Beginning in January 1 in the year in which the exemption exceeds $14,000, and each January 1 thereafter, there would be no limitation on the agreed-upon value used as part payment.”

Watercraft

The sales tax exemption also applies to sales of watercraft. There is no phase-in period for watercraft—the full exemption takes effect immediately. “Beginning November 15, 2013, credit for the agreed-upon value of a titled watercraft used as part payment of the purchase price of a new titled watercraft or used titled watercraft if the agreed-upon value is separately stated on the invoice, bill of sale, or similar document given to the purchaser.”

Revenue implications

Sales tax revenue in FY 2013-14 is expected to drop by an estimated $24.6 million. This impacts the School Aid Fund. Beginning in FY 2014-15, the added exemption values are expected to remove an additional $6 million (approximately) from Wisconsin’s annual sales tax revenue. Once fully implemented, the exemption on motor vehicle trade-ins is expected to cost between $250 and $450 million, annually.

Tit for tat

The exemption impacts Michigan’s reciprocal agreements with a number of states, “whereby Michigan and the reciprocal state each collect and retain sales tax on vehicles purchased in their respective state, even in instances when the vehicle will be titled and registered in the other state.” Specifics are available in the summary of Senate Bill 89 .

How does your business handle sales tax exemptions ?

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Used Car Trade-In Value from Black Book #cars #rental


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Used Car Trade-In Value from Black Book

Limited Time Offer! Get a free new car price quote with your used car value.

Widely known and highly respected in the industry, Black Book is an online leader in offering timely, independent and accurate used car values. To learn the Black Book appraisal value of your used car, simply follow the directions below. It’s as easy as 1..2..3!

If you do not want a new car price quote, click here to get your Black Book used car value.

Getting a Used Car Trade-In Value from Black Book

Appraising your used car’s trade-in value isn’t an exact science. Trade-in values will vary between regions, times of the month – even between dealerships. For example, the used car manager at a Mercedes-Benz dealership may give you less on your used Kia than the used car manager at the Kia dealership, because it’ll be harder for him to sell.

Using Black Book to Appraise Your Used Car

Knowing your trade-in’s value before you visit your new car dealer is essential. If you don’t know how the industry appraises cars, you won’t be able to effectively negotiate your current car’s appraisal value. So use the Black Book Appraisal form and be sure you’re totally honest when indicating the condition of your trade-in. You’ll get a fair estimate of your used car’s value that you’ll be able to take to the dealer.

Note: The price range shown on your final Black Book Appraisal form is a guideline. The dealer will confirm a final price for your car based on their analysis of market trends and vehicle condition.

We take privacy seriously. By submitting your request, you agree that you are subject to our privacy policy and terms, and that an Internet dealer or their representatives may call you using an automated telephone dialing system or automated voice message. Your agreement is not a condition to the purchase of any goods or service.



Tricks of the Trade-in #cheap #rent #a #car


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Tricks of the Trade-In

How to Handle Tough Trade-ins and Use Pricing Websites to Your Advantage

There s a wise old saying that reminds us a little knowledge is a dangerous thing. This is particularly true when it comes to car shoppers.

You know the type. The customer strides confidently into your dealership armed with expert information about the value of the trade-in. Maybe he or she is clutching a printout from kbb.com, NADAguides.com or blackbook.com. In short, the customer plans to dictate rather than negotiate what you ll give for the vehicle. So how do you deal with tough customers? And how do you use those pricing websites to your advantage?

Turning perception into reality

When the customer is fixed on the wrong value for a trade-in, it s up to you to shift his or her expectation back to the correct value. At this critical moment, you need information, not confrontation. The good news is that you have it at your fingertips, because you too can use the pricing websites the shopper visited to determine the value. But the difference is that you ll work with the shopper to help determine the true trade-in value.

These Tricks of the Trade-In make it simple to put website pricing data to work for you.

The appraisal

Ask the customer to show you the car for an appraisal. Walk around the vehicle together, taking specific notes about the vehicle s condition, highlighting any flaws, dents or scratches. Next, open the trunk and inspect the spare tire. Also, be certain to make notes regarding the condition of the interior, the actual mileage and any other critical details that affect the vehicle s value.

The profile

Now it s time to create a true profile of the vehicle s worth. Be sure to keep the customer involved in this process, because together you will build the vehicle online using your notes and your knowledge. Bring the customer back to your desk, visit Cars.com and click on the Research tab. Then go to the Kelley Blue Book section. At this point, it is extremely important to demonstrate to the customer how to accurately value his or her vehicle as a trade-in versus a purchase. This is a simple step because Kelley Blue Book allows you to select Trade-In Value or Retail Value. Explain to the customer that the Retail Value includes the fees a dealer pays to prepare that vehicle for resale, including its reconditioning work. Once you clarify this vital difference, check off all the optional equipment for the vehicle and input the actual mileage. Also, make sure to check off everything that is right and wrong with the vehicle.

The value

As you input the information, Kelley Blue Book automatically calculates the vehicle s value under three ratings: Fair, Good and Excellent condition. In most cases, the customer rates the vehicle as Excellent, resulting in an inflated value. Very few vehicles are truly excellent. According to Kelley Blue Book, a vehicle has to be exceptional to be rated excellent. The body and interior must be free of ANY wear or visible defects. Good condition more appropriately characterizes most customer trade-ins. Kelley Blue Book states: A good vehicle will need some reconditioning to be sold at full retail price; however, any major reconditioning costs should be deducted from the value.

By working with the customer to accurately input the vehicle information, together you will arrive at the appropriate vehicle condition rating and the most accurate vehicle valuation.

Using these Tricks of the Trade-In allows you to reset the customer s thinking about the value of the trade-in. You included the customer in the process and used the pricing tools that he or she already trusts.

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Determining the Trade-in Value #second #hand #car #sales


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Pricing Your Car

Online ads make it easy to see what other people are asking for the same type of car.

В­TВ­he most important thing you must remember before you decide to sell your car is that you generally can get a lot more money by selling the car yourself than by trading the car in at the dealership. If you do decide you want to trade in your car at a dealership, beware of two things: a very high trade-in value and a very low one.

According to Cars.com. when a dealership offers you a high trade-in value for your vehicle, it will most likely use the price against the purchase of your new car. The dealer will cover the loss on the used car by making you pay a higher price for the new car. Thus, you won’t be saving any money. If the dealer offers you too little for your trade-in, it may suggest that you’re getting a low price for the new car. Remember that you can negotiate a fair trade-in price at a dealership, but know that you will probably get a higher price selling the car on your own.

The best way to price your car is to know what other sellers are asking by looking at online ads as well as print ads.

You can also find the suggested retail value for your car. The best way to find out this information is by using a common reference guide such as the Kelley Blue Book or the NADA Gold Book. which are available in the reference section of most libraries as well as online (including at Cars.com ). These books include domestic and foreign cars that are 21 years old or newer.

Another good way to determine a car’s price is to find out what wholesale price dealers are paying for your car at auction. The Black Book is one of several guides that provide this information. Black Book features wholesale prices on used cars and motorcycles from as early as 1946 to the present. With all this information in hand, you will be able to determine a fair and reasonable asking price for your car.

Finally, be sure to leave a little room in your asking price. In other words, ask for slightly more money than you are actually willing to accept. For example, if you want to get $15,000 for your car, you can list the car at $15,500. Then, if you have to go lower in price, it won’t be a big loss. After you’ve decided on your asking price, it is time to make your car attractive to buyers.



Car – Truck Trade-In Value #car #battery #charger


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Value Your Trade

What is AutoTrader.com Trade-In Marketplace?

AutoTrader.com s Trade-In Marketplace gives consumers real, actionable offers for their vehicles when it s time to trade or sell them.  From the comfort of their homes, consumers receive offers they can use for quick cash, or to take control of trade-in negotiations.

Other trade-in value ranges represent a model s general worth.  But a Trade-In Marketplace offer is unique to the equipment and condition of a specific car, truck or SUV.

Trade-In Marketplace offers are based on information provided by consumers.   The Trade-In Marketplace offer is backed by AutoTrader.com, and you’ll never have to accept less, as long as the car’s information and condition are verified.

How is this data calculated?

The offers shown for similar vehicles are 4 to 12 data points for actual  Trade-In-Marketplace Offers for vehicles of the same year, make, model and trim.  The low price is based on the lowest offer, and the high price is based on the highest offer within the last 30 to 60 days.  Additional data points displayed are based on the most current offers.



Five ways to increase a car’s trade-in value #sell #my #car #for #cash


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Five ways to increase a car’s trade-in value

Related Stories

According to Edmunds .com, a new car depreciates in value up to 9 percent in the first minute it’s driven off a dealer’s lot. After five years, your car holds only 40 percent of its true market value — and that’s without all the other considerations that can reduce its trade-in value. Some things to consider doing when you’re ready to get rid of your car:

1. Make repairs: From major engine problems to minor maintenance issues or cosmetic, paint or upholstery defects, a vehicle in solid running order is one of the most fundamental value boosters.

Nationwide Insurance suggests talking to your mechanic to see if repair costs will outweigh trade-in value. No need to fully restore your car, but a vehicle in like-new condition makes a good lasting impression.

2. Clean it: Appearances count, and if the first thing a buyer or dealer sees is a filthy car, he won’t even bother looking under the hood to see what’s inside. A few hundred dollars for a quality carwash could increase the value of your car by thousands.

3. Prepare your records: Websites such as Carfax.com will have your vehicle’s history on file. Take the next step by saving copies of your maintenance and repair receipts. Document everything from oil changes to servicing.

4. Get an appraisal: Kelley Blue Book or NADA guides can only estimate what your car is worth. Contact a professional appraiser for a full inspection and true valuation of your vehicle. In tandem with repairs, this will give you more bargaining power when going to trade in your car.

5. Don’t settle: If you’ve learned to not take the first offer that comes along from a dealer when shopping for a new car, don’t settle for the first figure given to you on a trade-in. One of the best ways to increase the trade-in value of your vehicle is to shop your car around to several places and people for the best offer you can get.



Utah Vehicle Trade-in Center – Ken Garff Honda Downtown #cheap #car #for #sale


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Structure My Deal Recent Activity

Trade-in Estimate

Est. Payment

What’s the difference between Prequalifying and Applying for Credit?

If you have credit concerns, we can help! Prequalify first to determine if there are financing options that work for you.

Trade In Your Vehicle at Ken Garff Honda Downtown

Selling your vehicle is as easy as 1,2,3 here at Ken Garff Honda Downtown located in Salt Lake City, UT. We are the ONLY certified AutoTrader Buying Center in the state of Utah. This means we can provide you with the best offer and easiest selling/trading experience. Whether you are looking to trade in your vehicle and upgrade to a new ride, or if you simply just want to sell us your car, we can help!

How do I trade-in my car? 

1. Complete the form below and get an instant offer on your vehicle based on today’s highly favorable pre-owned car market values.

2. Bring your vehicle to Ken Garff Honda Downtown for a complete inspection of your vehicle and receive your final offer.

3. Trade in your car OR redeem your offer for cash.



How to Get the Most for Your Trade-in #import #cars


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How to Get the Most for Your Trade-in

Overview

Bringing a trade-in vehicle to the dealership is a familiar tradition and a reasonable method for lowering the overall purchase price of your replacement car, truck or van. If you have no payments remaining on your current vehicle, your trade-may significantly offset the new(er) car purchase price and will usually lower the sales tax.

To a typical dealer, the actual cash value of a trade is an opinion of what the vehicle could reasonably be sold for at auction, less any reconditioning costs. Only the better trade-ins are typically held on a dealer’s lot, usually for six weeks to three months, before they are sent to auction.

In addition to reconditioning costs, the dealer must also consider the cost of holding a car in inventory such as cleaning, taxes, lot security, and advertising. The price you are offered for your trade-in must also naturally include a reasonable profit margin. Also, most states have requirements for a dealer to warranty or even guarantee a used vehicle for a certain amount of time and or mileage if it is sold to the public.

Start With the Black Book

At CarQuotes.com, we like to say “Know before you go!” When we say that, we are usually referring to our new car no-hassle CarQuotes Vehicle Pricing Reports. The same concept, “know before you go,” applies to trade-in values. To get the most value for your trade-in, a little research is required. CarQuotes.com offers an estimate of trade-in value as one of our Research Tools.

CarQuotes.com’s Research Tools include access to the leading used car valuation guide, Auto Black Book Car Values, a service of the National Auto Research Division of Hearst Business Media Corporation.

What Black Book provides

Black Book values provide a guideline for pricing that is based upon actual auction sales in our area, the Midwest Region. There may be many cars similar to yours for sale through local auction sites. If so, the Black Book price may come very close to the most a dealer can offer you. If there are very few cars similar to yours sold at auction, the Black Book price may be similar to what the dealer can offer. The calculated Black Book estimated value is not guaranteed, but will provide an idea of the upper limit of the price your dealer may offer. Also note that the condition and mileage of your vehicle is a critical element in determining trade-in value. With the CarQuotes Black Book Valuation Report in hand, you’ll have done some basic research regarding the possible trade-in value of your Vehicle.

Next, check the Classifieds and the Internet

Look up your vehicle in the local newspaper’s classified section. Typically, Thursday through Sunday editions carry more vehicles offered for sale. Also, you may also have local specialty publications devoted to cars and other vehicles available for sale in your region. The prices you will see tend to represent the upper range of market prices. The price offered, of course, may not be the final sales price after negotiation with a buyer.

Using CarQuotes.com’s used car listings, look up vehicles like yours with similar features and mileage. The prices you find will include the dealer’s mark-up, but also give you an upper range on the local market value of your trade-in.

Shop Your Car Around

We’ve talked about beginning your pricing research by using CarQuotes.com’s Research Tools, and determining the upper limits of trade-in value through the use of local publications. What about determining the lower-end of the value range? Take your car around to several dealers and tell them you want to sell your vehicle outright. The price you will be offered will likely be a bit lower than what you could actually get on a trade-in, but you will gain firm knowledge regarding the least you should accept for your car.

Ask Yourself

Once you’ve completed all your research, you now need to ask yourself several questions:

  1. Is there much of a difference between the Black Book and the prices found in the newspaper?
  2. To get more for your car, are you willing to try to sell the vehicle yourself?
  3. Is the additional money you might gain by selling the car yourself worth the wait and the trouble?

Trade-in Tax Advantage

One more factor that may make trading your car at the dealer the best option for you: In most states, you pay sales tax only on the difference between the new car price and the value of your trade-in. If your trade-in value is, for example, $10,000 and the sales tax is 7%, then you could save $700.

Condition—The Big Price Variable

When you take your car to the dealership for appraisal as a trade-in, the key variable in the price you will be offered is the perception that the dealer has of your car’s condition. Most dealers are reasonable and expect a car with a few years and miles not to have some minor flaws.

Nor is it worth your money to have major or even minor flaws repaired—the dealer can do repairs and maintenance at less cost than you can. So, practically, your only concern is that your car appears to be in reasonable condition.

How do you have your car appear to be in reasonable condition? Get your vehicle cleaned and detailed. It will usually cost you about $100 or so to have your vehicle professionally detailed, but a clean car looks well-maintained, and that can mean several hundred more dollars in trade in or resale value.

One of the first things a salesperson will want to know is whether you have a vehicle to trade. The reason for this is so they will know what they have to work with as they are showing you vehicles. This is especially dangerous if you are looking at a used vehicle since there is generally no price displayed so they can name whatever price they want.

Keep in mind, however, as with anything, a used car is only worth what someone will pay for it, there is NO SET VALUE per se.

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Ohio Sales Tax Trade-In Allowance #ship #a #car


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Ohio Sales Tax Trade-In Allowance

When a new car dealer sells a new motor vehicle and takes another vehicle in on trade, Ohio allows a reduction to the taxable sales price for the amount of the trade-in.

For example, if a new vehicle with a price of $25,000 is being purchased, and the dealer allows a trade-in credit of $10,000 on the vehicle being traded in, sales tax applies to the net price of the new vehicle ($15,000). This trade-in reduction also applies to the sale of new watercraft, outboard motors, and personal watercraft.

No. The trade-in reduction only applies to the sale of new vehicles.

Will I get the trade-in reduction if I trade my boat in on the purchase of a new car?

No. To qualify, the trade-in must be on the same type of vehicle. Example: Trade-in of a boat for a new boat, or an automobile for a new automobile.

I am currently leasing a car. Can I trade it in on a new car and get the trade-in reduction?

No, you must own the vehicle you are trading in. If you purchase the leased vehicle from the lessor, and then trade it in on a new vehicle, the trade-in reduction would apply.

Does the trade-in reduction apply to aircraft?

No. The reduction only applies to motor vehicles, watercraft, outboard motors, and personal watercraft.

I owe more on my old vehicle than the dealer will give credit for on a trade-in. Will this negative equity affect the trade-in allowance?

If you have questions about the Ohio sales tax trade-in allowances please contact your Bruner-Cox LLP engagement executive, or theresa.mullen AT brunercox DOT com. State and Local Tax Leader, at 330.497.2000, ext. 4129.



4 Factors that Affect the Value of Your Trade-In #vehicle #values


#trade in car value
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4 Factors that Affect the Value of Your Trade-In

In general, there are four factors that affect the value of your used car.

It’s condition, it’s popularity, local market conditions, and the individual appraiser.

Let’s take a look at each one.

It’s Condition

Most people think their car is in better shape than most – but chances are that’s not what an appraiser is going to think.

If you look at used car pricing guides, they usually list four levels: Excellent, Good, Fair, and Poor. Realistically, 80% of all vehicles fall under the “fair” condition.

It’s very rare for a used car to qualify for an “Excellent” rating – only those stored in a garage and never driven will pass the test.

If your vehicle has a small dent or two, dings or scratches on the paint, it will likely be labeled as being in poor condition, especially if it’s a late model used car.

Other factors that affect condition include the vehicle’s mileage and whether it has any mechanical problems or been in an accident. Vehicles with over 100,000 miles will have an extra penalty against them.

If the vehicle has been repaired after an accident, it will be worth a lot less. Usually, the diminished value equals half the cost of repairs – so if it cost $5,000 to repair, the diminished value would be about $2,500.

It’s Popularity

The most popular used cars are generally the same models that are selling briskly as new. If brand new Hyundai Elantras are selling well, you can be confident your used Elantra will also be popular, especially if it’s still the same as the current generation.

The colors and options can also make an impact on the value of your trade-in. Neutral colors such as silver, white, or black tend to hold their value best while bold colors such as red, yellow and green may not be worth as much since there are fewer buyers interested in those colors.

Local Market Condition

If you have a used convertible and live in a cold climate, it’s going to be tough to get a great price. Local market conditions are a big factor when it comes to the value of your used vehicle.

You also need to be aware that some dealers may simply have too much used car inventory that overlaps with your model and won’t be interested in your trade-in.

This is why it pays to shop your vehicle to several different dealers.

The Appraiser

The final factor that can affect the price of your trade-in is the individual who appraises your vehicle.

Some of these guys have been in the business for decades and know how to get a low-ball price for your trade-in.

A common technique is to have the customer walk around the car with them while pointing out every single deficiency, such as scratches, dents, dings, dull paint, worn tires, etc.

They may pretend to hear noises when they start up the car, or while driving. These are all psychological tricks designed to devalue the vehicle in your mind.

Again, the best defense is to shop your vehicle to multiple dealers so you can figure out the true value.

My Recommendation for Car Shoppers

TrueCar No-Haggle and Edmunds Price Promise are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you – and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.

– Gregg Fidan