Hi everyone
I am planning on buying IS250 and need some information on whether I should trade-in my old car for the IS or sell it and use the cash as a down payment probably. I hear that trading-in your car helps you get a better deal, is that true? What are the pros and cons of each (i.e. trade-in vs. selling)?

Thank you for taking the time to answer my questions.

PS: currently own a 2005 Infiniti G35 Coupe.

 

Trade-in usually gets you the worst deal. Better to sell on your own if you've got the time and patience. Trade-in will give you convenience in that the dealer does all the paper work, etc. But it will cost you some $$.

 

Trading in is the WORST option. A dealer will tell you it's great, but it's only great for HIM and not you. Take the time to sell your car privately, and you'll pocket a few thousand more from it.

 

How about selling to the dealer vs. trade-in? Will selling save some $$ or is it gonna be just the same as trade-in (since we're dealing with the dealers)..
I guess it's best to sell it to a private party then..

Thanks..

 

Go here:

www.kbb.com

This will give you an idea of the disparity in dollar amounts regarding trade-in vs. private sale.

 

I've been playing around with KBB, do you guys think that a private buyer will be willing to pay close to the KBB retail price? Say if the KBB retail price is 29K, then is it possible to get someone to buy it for at least 27-28K? I'm trying to get an idea how accurate KBB is and since I don't have experience in selling cars..my first time!

Thanks bunch..

 

If you have time, do a private party you should get more. If you're in a hurry, get an estimate from carmax, then take your car to the dealer and see which will give you more.

 

Don't forget the most important part, if you trade in at the dealer you only pay taxes on the difference.

 

SeLL ITTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT


Stealership will rip you off.

MY 2cent

 

Thats how they fool you. They make you think that you are making a better deal than you are actually doing

 

How so? The #s don't lie. Here in NY, if you trade in a car for $30k, that amount goes towards lowering the tax basis for your new ride. At 8.375% sales tax, that means you would have to sell your car for $32,742 privately to break even. Having sold a couple of times privately myself, I feel it's just not worth it to deal with all the low-ballers and cheapskates. As always, one needs to discuss trade-ins only after a price has been reached for the new car purchase.

 

Yes, you will ultimately get more money via selling vs. trading.

But, how much is your time worth to you? Because you will spend a lot of it trying to sell a car yourself, especially in the current economic climate. I bet if you figure the total time spent based on your current hourly rate of pay, in the end you will come out less ahead than you think. Not to mention that you can always make more money, but you can't make more time (yes, I am feeling philosophical this evening).

Also, as has been mentioned, if you live in a state that allows you to deduct the value of your trade from the purchase price of the vehicle, and only pay tax on the difference, then you could break even or maybe even come out ahead on the tax savings, even if the dealer lowballs to some degree.

 

I traded in an '06 Scion tC on my '08 IS 350. I knew the KBB / Edmunds / NADA value of the Scion (about $13K) and I also knew that trading it in would save me about $1K in sales tax. So I told the dealership either you pay $12K for it or I sell it private-party for $13K. The dealership agreed to $12K and I basically got the same deal as if I had sold it myself, with a lot less hassle of selling it to an individual.

People are wary of trade-ins because it gives the dealership a chance to screw you twice: once for the car you are buying and once for the car you are selling to them.

If you research trading your car in with as much energy as you research buying the new car, you will basically be in the same position as just researching the car you are buying. Educate yourself on what things cost, realize that dealerships are a business that has to make a profit, pick numbers (on the sale and trade) you are comfortable with and walk if you don't get 'em.

I was comfortable with what I paid for my IS 350, they hit the number I wanted on my trade and it only took 45 minutes, 30 of which was them figuring out that I was serious about the numbers I presented them.

 

Thank you everyone for your feedback.. jbuffet, your words do sound very encouraging since most of the people in this thread seem to agree that selling is more beneficial... I'll do my homework thoroughly before I plan to trade-in (i.e. if I do).. The dealers are all liars, that's how I look at them and you need to twist their tongue so that they can say out the right price!

 

If you take any used car in kbb, the trade-in value is always less than the suggested retail price... therefore, just wondering, if you trade-in your car then the dealer will try to match the kbb value (for trade-in)? do you think you can ever get dealers to trade-in the car close to the retail price?