wallaceb

Need some opinions here....

A dealer (Toyota, not Lexus) just gave me a trade in quote of $11,000 for my vehicle.

I have a 2010 Lexus IS250 AWD with Nav, Frost Mica paint/tan interior, and in good shape. Car has 73000 miles and is very clean. Car has new tires, new brakes, and new plugs at 60k miles. All work done at a Lexus dealer too--car has never missed a 5k interval service.. There is a ding on the carfax, it was on there when I bought the car.

I paid around $24000 for it two years ago, and it's worth only 11,000 now?

Am I being ripped off a bit?

Rudiculous

iTrader: (15)

Check KBB, Edmunds, and Car Max

wallaceb

I checked those, but that does not give me a price with the carfax issue figured in.

Those sites put me around $14,000-$15,000.

Doesn't $11,000 seem low?


QUOTE=Rudiculous;9365032]Check KBB, Edmunds, and Car Max[/QUOTE]

davyjordi

check with members of the 2IS forum.

Snowrydr01

They aren't called stealerships for their generosity.

Numbahz

Well it sounds like a fairly low offer to me, I'd check to see what similar cars are selling around there and then deduct a justifiable amount. I traded mine in April for a new one, but I had a 07' non nav with 160k pretty near mint condition and I got 7k which I thought was a tad low. I'd ask for more especially if your trying to get something there. Best of luck bro!!!

varium103

Always go to carmax, get the appraisal which will take about 30min to an hour. They will give you a printed sheet that has your official quote. I did this with my audi a6 when I took that **** stain to the dealer to get my is350. Carmax offered me 31k and the jack offs lowballed me and offered $28k for my audi. They were asking $35k for the lexus I wanted. I told them $30k LOL. You low ball me, I lowball you. It's that simple Ended up getting exactly what I wanted. Took 5 hours though.

Moral of the story. Always use Carmax as leverage. It gives you an excuse to get up and walk away from a deal. Then they have to match or you are gone.

tea

first, you're comparing retail to trade in value. even though most hate dealerships, they have to make a profit on the transaction as well. I can't see a 2010 IS250 selling for more than $15,000 so that doesn't leave much room for them to make a profit as well

jkonquer

Majority of the dealerships won't go by KBB Trade Quote, they usually use Autotrader Vehicle Value which is about $2-4k lower than KBB and obviously a lot lower than a private sale.

Your best bet is to sell your car through private sales, however most dealers will work with the price. Like others have said they will either give you more for your vehicle or lower the price on the vehicle you ar purchasing from them.

wallaceb

Thank you for this help, it's just hard to swallow I guess.

evident

If you want what your car is really worth, you will have to sell it private party. You'll never get a fair value on trade in, period. The dealer has to make their money too.

CrackerJac

Always sell private party. It may take a little longer to sell (it may not either) and you always come out thousands of dollars ahead.

I was considering leasing a '15 IS250, with a 2008 Civic and 2005 Hummer H2 trade. They offered me $21,500 max for the two vehicles. I waited it out and sold them both private party. The Hummer took three weeks or so, and the Civic sold to the first buyer that looked at it. I sold them both for $26,000, an increase of +$4500.

Then, instead of leasing...I bought a mint condition used IS for $31k, in the exact color combination I wanted.