End of year offer price suggestions?

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12-27-23 | 05:14 PM

#31

BBQapple

Instructor

Joined: Jan 2023

Posts: 909

Likes: 409

From: TX

Quote:

Originally Posted by YumpinYiminy

Your paying $50,000 for the car. The dealer will give you $13,000 for your trade. Say the sales tax is 8%. 13000 X 8% = $1,040. If you sell it yourself. Selling it for anything over $14,040 is profit.
However, easier said than done. Depending on age (10 years), it maybe hard for a buyer to find financing. Also the price your asking for the car maybe out of reach for the average Joe.

CarMax will buy used cars all day and I’ve sold two to them for significantly more than the dealer offered in trade. CM offered more than the other used car places around me and being too lazy to sell private market it was painless.

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UTChE96 (12-27-23)

12-28-23 | 07:02 AM

#32

wasjr

Instructor

Joined: Jan 2013

Posts: 1,037

Likes: 58

From: TN

Quote:

Originally Posted by BBQapple

My experience with CM has been different. In Nov 2022 when I bought my 2020 GLS 450, both the MB dealer and CM offered the same amount for my 2019 S550 w/25k miles, which I believe was low by $5-7k so I did not sell it. With regard to the MB dealer and comments above, I had already agreed to the price of the GLS before talking trade. The MB dealer did give me fair value for the equity in my 2020 MDX lease I traded.

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12-28-23 | 09:20 AM

#33

FastDawg

Intermediate

Joined: Dec 2023

Posts: 250

Likes: 72

From: GA

Quote:

Originally Posted by LexFinally

Helpful and informative post. Thanks for sharing it. I know someone who's sold a lot of cars in this manner, and your way of doing it right at the bank is the way to go. That, or for lower-dollar transactions, cash in a public place.

Thank you. The only place that I would take cash for a car would be at a police station. ;-)

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12-28-23 | 10:03 AM

#34

Shaboom

Racer

Joined: Feb 2021

Posts: 1,478

Likes: 524

From: PA

in 2021, I had a beautiful late model Corolla (low mileage “second car”) that Carvana gave me more for than the Lexus dealer would as a trade-in on my new 350 ES. I think the Lexus dealer made a poor judgment but his loss was my gain.