Can I trade my paid off car for a car of the same value?

Question

I would like to trade my (paid off )truck for a more economical car. The trade in value of my truck is $18000 according to Kelly Blue Book. Is it easy to try and buy a car that is around the same price? I know that dealerships want to make money, so will they lowball my truck in order to make money?

Answer 1

Kelly Blue Book is only a guide and most dealerships use Black Book. They want to make money on your trade as well as the one you buy from them, however that's how they operate. The figure they give you will probably seem "low-balled" compared to KBB, however if you want a second opinion, then you can take your truck to Carmax as they will also give you a price they will back up with an actual check. <KBB never actually buys cars at the values they claim>

If you live in a tax credit state, then if you trade your truck in for an economical vehicle and it ends up an even trade, you will NOT owe any sales tax because if your selling price is $15,000 and your trade is worth $15,000, then your sales tax $0. Keep in mind title, tags, and other fee's will be taxed separately. Good luck and you can email if you have any questions.

In reference to waiting until the end to drop a trade on them, that is not a wise decision because once you tell them you have a trade, all previously discussed figures are no longer valid <similar to hiding a supplier discount> and it will most likely lead to a poor buying experience. You WILL want to negotiate the 2 separately, however you don't have to be dishonest to get a good deal.

Answer 2

first of all ,if you know the price of your truck for trade in is 18,000 hold firm  on that price. before you do anything  you want to go in to the dealer and pick the car and hagle the price the best you can  and get it in writing in the loan officers  office.... then and only then tell them you wanna trade in your truck. then you will see what there really going to give you. under no circmstances do you tell them about a trade in even if they ask you if you got  one, tell them no>>>> get all in writing on the car you really want and then unload the truck on them , lol... good luck

Answer 3

yes, for two reasons, one they want to make money, two, people are not buying trucks right now with gas prices.  your best bet is to take you truck to a dealership in a rural or farm community where trucks are more of a necessity.  i recently traded my dakota for a corolla and got fifty percent more for my dak by going to a rural area

Answer 4

They won't necessarily lowball your truck, but when you're looking at Kelley Blue Book keep in mind the best you can hope to do is the trade-in value.  Then...the price on the car will be more like the suggested retail value.  There's a huge difference.  You might be stepping down $5,000 in value to get the car...all to save what...maybe $100 a month in gas?

By the way...Some people here say Kelley Blue Book is high.  I have taken two cars to Carmax and was offered better than KBB's trade-in value both times.

Answer 5

If you trade you will lose more money than if you sold it privately.

Also if you trade it in, they will fuzzy up the math so you really won't know if you got a good deal.

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(1) sell it privately

(2) then buy another car / truck separately

Keep them separate and keep them simple.

Good Luck.

P.S.  Yes they will low ball you.  They will tell you stories (like nobody want your truck because of gas, etc.)  Don't believe them