OT: Car Trade-In

[XLCenterFan]

Does it come with the TruCoat? It will save you from oxidation.

Seriously though, I’m on board with XLCenterFan. Run your car into the ground. I’m pushing 15 years with my Xterra, and 13 years with my wife’s Subaru.

I bought my Honda in 2007. Still drive it.

 

[Hey Adrien!]

Seriously though, I’m on board with XLCenterFan. Run your car into the ground. I’m pushing 15 years with my Xterra, and 13 years with my wife’s Subaru.

I've got 13 years and 140k miles on my Corolla. My mechanic loves the car and always tells me he wants it to last forever.

 

[husky429]

@Hey Adrien!

My parents in law both sell used cars. 2 of my brothers are mechanics.

Short version: worth a shot to go in there because the deal is objectively better. Expect to have the deal evaporate and be ready to leave.

Even if you need rotors and calipers, it still should be 500 bucks max for the brakes. Takes like an hour if you wait for a wa day to do it yourself. Speakers are easy too..m shouldn't be much of a factor.

 

[CL82]

But used car prices are up because lack of inventory on new cars

Yep, I just wanna make sure that he understands the value when he’s giving up and what it would be worth to a third-party buyer.

 

[Chin Diesel]

Mrs. Diesel has been looking for another car and we ended up doing a factory order for a new one because the used car prices are so out of whack.

Up until about 12-15 months ago I never would have considered buying a new car again. I really liked 3 year old CPO's coming off leases which had between 30k-35k miles, were well-maintained and often close to 50% of new value.

We went looking for cars and there were 2020 models with low mileage that were $3k-$4k more than the same 2022 model and trim line. So, between the price difference, better financing rates and ability to avoid any dealer add-ons we saved over $6k total by buying new.

What I know is right now, if you have a used car which has any value, now is the time to trade in and get a new one.

 

[polycom]

If you are the drive cars into the ground type of person then this is a good deal if you are the type of person always trying to get the best deal on a car I would just hold onto the current car and make the necessary repairs and move on till the car buying market is better. As many other people have mentioned dealerships are the worst places on earth list, so they are NEVER trying to give you a good deal out of the goodness of their hearts, they are absolutely trying to take you for a ride 100% of the time.

 

[HuskyHawk]

I'm getting offers from the place where I bought my '16 Mazda CX-5.

Current Car:

2016 Mazda CX-5
72k miles
$440/month til 11/23
$9240 remaining
Repairs needed: rear brakes, broken left speaker

Car offered:

2022 Mazda CX-5
$370/month til 2/27
$20738 drive out price, $0 down
Net $11498 cost

I'm not a car guy, but it seems like a good deal. What do you all think?

I have an appointment on Thursday to check out potential cars.

My 2016 CX-5 has been fantastic. It's my daughter's car now. Just a bulletproof car. I expect the 2022 would be the same. What you owe on the 2016 isn't much different than what it is worth, depending on the trim level. If the monthly payment is relevant to your finances, then you're lowering it, but ultimately the goal is usually to drive any car a few years after paying it off. If you can swing a higher payment, consider a shorter loan, or overpay it at the old $440 amount.

 

[HuskyHawk]

Mrs. Diesel has been looking for another car and we ended up doing a factory order for a new one because the used car prices are so out of whack.

Up until about 12-15 months ago I never would have considered buying a new car again. I really liked 3 year old CPO's coming off leases which had between 30k-35k miles, were well-maintained and often close to 50% of new value.

We went looking for cars and there were 2020 models with low mileage that were $3k-$4k more than the same 2022 model and trim line. So, between the price difference, better financing rates and ability to avoid any dealer add-ons we saved over $6k total by buying new.

What I know is right now, if you have a used car which has any value, now is the time to trade in and get a new one.

I saw the inflation coming and bought a new car for my wife in December 2020. Got a great deal, including "employee pricing" plus end of year incentives. Traded in a 2013 Volvo XC that was starting to have problems. Like you, I always liked CPO, but new with incentives was a much better deal.

 

[Drumguy]

This is a short term crazy market where used cars are overpriced. It's not going to last. I'd take the trade in and go for a new car.

 

[huskiesNhoos]

@Hey Adrien!

My parents in law both sell used cars. 2 of my brothers are mechanics.

Short version: worth a shot to go in there because the deal is objectively better. Expect to have the deal evaporate and be ready to leave.

Even if you need rotors and calipers, it still should be 500 bucks max for the brakes. Takes like an hour if you wait for a wa day to do it yourself. Speakers are easy too..m shouldn't be much of a factor.

Last summer my brakes were due so I was lazy and brought em in to the dealer for new ones (front only). They quoted me like $400+ for new pads and resurface the rotors. Told them to pound sand, then went to rockauto and picked up this: More Information for POWER STOP KOE7609 for like $200, replaced front and rear pads and rotors (calipers would probably run another 75-100 each but can't imagine those would need done on his). Was roughly a 2 beer job. Never pay to have brakes done there are a million youtube videos to walk you through it and it's honestly probably easier than doing an oil change on most cars these days.

 

[husky429]

Last summer my brakes were due so I was lazy and brought em in to the dealer for new ones (front only). They quoted me like $400+ for new pads and resurface the rotors. Told them to pound sand, then went to rockauto and picked up this: More Information for POWER STOP KOE7609 for like $200, replaced front and rear pads and rotors (calipers would probably run another 75-100 each but can't imagine those would need done on his). Was roughly a 2 beer job. Never pay to have brakes done there are a million youtube videos to walk you through it and it's honestly probably easier than doing an oil change on most cars these days.

Only time it gets difficult is if you get caliper pins or rotors stuck in. It isn't a huge deal but can be a major headache that takes some patience

 

[Hey Adrien!]

So yeah, yesterday was awful, haha.

Our salesman was delightful, super easy going guy and the test drives went well.

On the other end, the manager was a dolt. Either his negotiating tactics are drop dead awful or the people who shop at that dealership are total idiots, my guess is the first option.

On one side, the offer for our car (2016 Mazda CX-5 w/ 68k, perfect running shape, no noticeable issues w/ body) started at 10k. On KBB, the lowest offer for a "fair" car (on a poor, fair, good, very good, excellent scale) was 14k...

I'm no car expert, but our car is at least "good" (which hovered around 16-18k). After three "I'll talk to my managers" the best offer they gave for the trade-in was 14k, which to my response was "so, you are giving us the absolute lowest value KBB offers as your best offer?" and the manager's response was "well, the KBB is just a guide". My response was "so even though used cars are selling at all-time highs, you are giving us the absolute worst offer KBB offer as your best offer?" and he gave me some circumventing response that had nothing to do with the conversation.

On the other side, the offers we were getting were abysmal, at best, $100/month more than what the mailed promo offered. At the start, we were offered a '22 CX-5 for $720/month and 60 months for $3000 down. That's 46k for a starting offer that included the trade in value of our car (we owe 8k on our '16).

In summary, we won't be going back to that dealership. We're keeping the car for now, but keeping our ears open for any rogue deals for other cars that we like: Mazdas or Subarus.

 

[HooperScooper]

So yeah, yesterday was awful, haha.

Our salesman was delightful, super easy going guy and the test drives went well.

On the other end, the manager was a dolt. Either his negotiating tactics are drop dead awful or the people who shop at that dealership are total idiots, my guess is the first option.

On one side, the offer for our car (2016 Mazda CX-5 w/ 68k, perfect running shape, no noticeable issues w/ body) started at 10k. On KBB, the lowest offer for a "fair" car (on a poor, fair, good, very good, excellent scale) was 14k...

I'm no car expert, but our car is at least "good" (which hovered around 16-18k). After three "I'll talk to my managers" the best offer they gave for the trade-in was 14k, which to my response was "so, you are giving us the absolute lowest value KBB offers as your best offer?" and the manager's response was "well, the KBB is just a guide". My response was "so even though used cars are selling at all-time highs, you are giving us the absolute worst offer KBB offer as your best offer?" and he gave me some circumventing response that had nothing to do with the conversation.

On the other side, the offers we were getting were abysmal, at best, $100/month more than what the mailed promo offered. At the start, we were offered a '22 CX-5 for $720/month and 60 months for $3000 down. That's 46k for a starting offer that included the trade in value of our car (we owe 8k on our '16).

In summary, we won't be going back to that dealership. We're keeping the car for now, but keeping our ears open for any rogue deals for other cars that we like: Mazdas or Subarus.

Thanks for this. Just confirms how I feel about car dealerships. They're all scum. I was thinking of telling you that when you first posted about this but I'm glad to see that your experience proved it. My wife has a 2018 Audi Q-5 and I probably get 1 of those letters a month. They go right in the recycling bin.

 

[StllH8L8ner]

I inquired about another extra key and a key FOB for my Tahoe when I was at the dealership for service a while back. Their quote: $385. Quickest “No thanks” in history…

 

[husky429]

Thanks for this. Just confirms how I feel about car dealerships. They're all scum. I was thinking of telling you that when you first posted about this but I'm glad to see that your experience proved it. My wife has a 2018 Audi Q-5 and I probably get 1 of those letters a month. They go right in the recycling bin.

I am convinced the crappy used car dealers that give 30% loans to people with multiple repos are more honest than your average higher-end dealer.

 

[HuskyHawk]

So yeah, yesterday was awful, haha.

Our salesman was delightful, super easy going guy and the test drives went well.

On the other end, the manager was a dolt. Either his negotiating tactics are drop dead awful or the people who shop at that dealership are total idiots, my guess is the first option.

On one side, the offer for our car (2016 Mazda CX-5 w/ 68k, perfect running shape, no noticeable issues w/ body) started at 10k. On KBB, the lowest offer for a "fair" car (on a poor, fair, good, very good, excellent scale) was 14k...

I'm no car expert, but our car is at least "good" (which hovered around 16-18k). After three "I'll talk to my managers" the best offer they gave for the trade-in was 14k, which to my response was "so, you are giving us the absolute lowest value KBB offers as your best offer?" and the manager's response was "well, the KBB is just a guide". My response was "so even though used cars are selling at all-time highs, you are giving us the absolute worst offer KBB offer as your best offer?" and he gave me some circumventing response that had nothing to do with the conversation.

On the other side, the offers we were getting were abysmal, at best, $100/month more than what the mailed promo offered. At the start, we were offered a '22 CX-5 for $720/month and 60 months for $3000 down. That's 46k for a starting offer that included the trade in value of our car (we owe 8k on our '16).

In summary, we won't be going back to that dealership. We're keeping the car for now, but keeping our ears open for any rogue deals for other cars that we like: Mazdas or Subarus.

Not really a surprise. They send those if there is strong demand for your car. You will almost always do better private party than trading, but they know people will pay to avoid the hassle. Anybody trading should at least know what Carmax will pay you for your car before going in. Takes about 20 minutes to go there and find out. Dealers will list everything as fair if they are wholesaling, because that is all the wholesaler will give them. The only dealer who will do better is one with a significant used car lot, who plans to sell your car directly. Seems counter-intuitive, but here the best trade values come from the mega dealers with big used car lots, not the small ones. I had reasonably good luck trading used for used at independent used car lots as well.

 

[Chin Diesel]

I inquired about another extra key and a key FOB for my Tahoe when I was at the dealership for service a while back. Their quote: $385. Quickest “No thanks” in history…

That may not be a totally unreasonable price.

New key fobs can easily get up to $300 at a key shop. So, take that price and put on a k own mark up at the dealer and it within realm of possibilty.

 

[methodology]

That may not be a totally unreasonable price.

New key fobs can easily get up to $300 at a key shop. So, take that price and put on a k own mark up at the dealer and it within realm of possibilty.

Yea I had to pay if I remember $450 for a lost Volkswagen key few years back

 

[huskypantz]

I've got 13 years and 140k miles on my Corolla. My mechanic loves the car and always tells me he wants it to last forever.

I have a 2011 venza and 2014 sienna. There is really nothing wrong with either of them and they both have around 90k miles. Toyotas last.

 

[Kathy]

I have a 2011 venza and 2014 sienna. There is really nothing wrong with either of them and they both have around 90k miles. Toyotas last.

My son has a 2013 Prius V with 125K - nothing but normal stuff - tires, brakes.

 

[StllH8L8ner]

That may not be a totally unreasonable price.

New key fobs can easily get up to $300 at a key shop. So, take that price and put on a k own mark up at the dealer and it within realm of possibilty.

Yeah I’m not sure what I was expecting the cost to be and I didn’t need another set but I was a bit surprised.