Picked up my Causeway Grey LR4...

[uhur]

I'm still haggling on my trade of my 2010 Lux (including the surround cameras and vision assist) with 41,000 miles. The dealer is willing to pay 33,000, which I think is a bit light. I took a look at the Causeway on the lot and am glad I chose it over Orkney, but wish Stornaway was still available.

$33,000 as a trade-in value is about $5000 light

 

[Finlayforprez]

$33,000 as a trade-in value is about $5000 light

I agree... At least!

 

[horatio8]

$33,000 as a trade-in value is about $5000 light

That's what I thought but there are 2010s offered in the Boston area in the $40,000 area. The first dealer claims he's going to retail it in the 38,000s for a quick sale, but he could be full of crap. I checked a 2nd store who bid me $34,000 and claimed he was going to list it at $40,000.

Could there be such a large regional difference? Are you guys on the East Coast?

Autotrader has a HSE Lux 2010 Nara Bronze with 31,244 miles in CT. offered at $42,480. What's 10,000 miles more worth with Stornoway (more popular?).

I think I got a pretty good deal on my 2013 ordered from the factory with a $3,000 discount, so I'd really like to get both sides of this trade done.

Thanks for the help.

 

[uhur]

Regarding the trade-in value, I'd definitely run a KBB trade-in value report and use it as a negotiating tool. The dealers are generally full of BS and are are known to hold back money on trades in order to increase their bottom line gross profit. Unless your car is in a horrible shape, requires massive reconditioning or been wrecked, I'd definitely shoot for at least "fair trade in value" according to KBB. What the dealer plans to sell it for, is really the dealers problem, not yours. The dealer in your case of course is working this deal from a position of strength, since they already "landed" you on a car.

 

[horatio8]

Regarding the trade-in value, I'd definitely run a KBB trade-in value report and use it as a negotiating tool. The dealers are generally full of BS and are are known to hold back money on trades in order to increase their bottom line gross profit. Unless your car is in a horrible shape, requires massive reconditioning or been wrecked, I'd definitely shoot for at least "fair trade in value" according to KBB. What the dealer plans to sell it for, is really the dealers problem, not yours. The dealer in your case of course is working this deal from a position of strength, since they already "landed" you on a car.

I agree with most of what you said except I'm not a big fan of KBB and it's value as a negotiating tool. If I was a dealer I would tell you sell it to KBB. The Mannheim auction numbers I think are valuable but impossible to get. If you know where real cars are being offered you can can subtract the reconditioning, certification, and dealer profit and figure out a number. I could be wrong but I figure it costs $2-3,000 to certify and the dealer usually works for $1-3,000, but my numbers could be off.

You guys might be right that I should get more and it's in my interest to try a couple more dealers. Unfortunately, I want no part of selling it to a private party.

 

[Finlayforprez]

That's what I thought but there are 2010s offered in the Boston area in the $40,000 area. The first dealer claims he's going to retail it in the 38,000s for a quick sale, but he could be full of crap. I checked a 2nd store who bid me $34,000 and claimed he was going to list it at $40,000.

Could there be such a large regional difference? Are you guys on the East Coast?

Autotrader has a HSE Lux 2010 Nara Bronze with 31,244 miles in CT. offered at $42,480. What's 10,000 miles more worth with Stornoway (more popular?).

I think I got a pretty good deal on my 2013 ordered from the factory with a $3,000 discount, so I'd really like to get both sides of this trade done.

Thanks for the help.

I live in CA now, but from the Boston area and lived in CT up until a few years ago. I know here in the SF Bay area certified pre-owned LR4s are going pretty high - definitely your truck would be high 30s I would say. Unfortunately, it's a pain in the butt to shop it around and private sale is even more annoying. In my case, I have a 2011 LR4 HSE, Climate Comfort package, HD/Satellite radio, and a few accessories. My lease pay off is $38,000 and my dealership is extremely excited to buy it out because I think they are going to jack up the sales price about $10,000.

Keep us posted - I hope the dealership with budge a bit since it's a lot easier just doing it all in one place.

Can't wait to see your new truck!

-David

 

[Agarabaghi]

For reference i got a 2010 HSE LUX with 33,000miles on it and CPO for $43k just last week...

 

[horatio8]

For reference i got a 2010 HSE LUX with 33,000miles on it and CPO for $43k just last week...

Congrats. What part of the country are you in?

 

[uhur]

I agree with most of what you said except I'm not a big fan of KBB and it's value as a negotiating tool. If I was a dealer I would tell you sell it to KBB. The Mannheim auction numbers I think are valuable but impossible to get. If you know where real cars are being offered you can can subtract the reconditioning, certification, and dealer profit and figure out a number. I could be wrong but I figure it costs $2-3,000 to certify and the dealer usually works for $1-3,000, but my numbers could be off.

You guys might be right that I should get more and it's in my interest to try a couple more dealers. Unfortunately, I want no part of selling it to a private party.

KBB is in fact the tool recommended/suggested by LRNA, even though an individual dealership is free to offer any number as a trade-in value. That said, I've ALWAYS received KBB "good condition" trade-in number on any car I've ever traded. A dealership that consistently lowballs and tells customers to go and sell their car to the KBB will not stay in business very long, especially in this very competitive market

 

[alexcorral]

Private sales are a pain and Dealer trade in is very comfortable, so you need to take a hit for the convenience. How much? It's up to you.

If your dealer is already making money on the sale of the new car, he should be inclined to pay you fair market/KBB for your trade in. Having said this, it should be worked out before closing the sale.

I'll sell the 2011 Discovery 4 for $40K and get $5K depreciation protection from my company for an additional $5K. Net, I'll get $45K which is approximately 30% depreciation (15% per year).

Same formula will apply for the 2012 BMW 328i: $35K + $5K.