ExclusivIS

iTrader: (9)

Just curious to know across the board, those who have traded in their F to a dealer (doesn't matter what kind) what price they gave you on trade. Please be a little specific in

-Year
-Mileage
-ML or non ML
- And what State your from.

I'll speak first...

-2008
-21,000
-Non ML
-NYC

MY trade in "offer" (which I didn't take) was 39,998 or something like that. Felt that was low, being that KBB has my cars listed "TRADE IN" value at 45,xxx.

avgj0F

iTrader: (2)

Edmunds has trade in around $36K, which is more in line what the market bears. A $45K trade in means retail would be close to $50K, for a 2008?

NLScooby

A simple search will tell you that these cars are SELLING at Lexus dealerships as CPO cars for the low to mid 40's. Your trade in value was actually higher than I would have expected if this offer was made recently.

darbs242

iTrader: (5)

2008
22,000
ML/Nav
Vermont..... dealer told me 34,000 and I said No Thanks you

crazymikie

Trade in is also relative to what you are paying on a new car, so this might account for some of the skew in the numbers.

Salil022

iTrader: (1)

Before i sold my car privately, i went to couple different dealers...one dealer told me $34k and one told me $38k (which is good considering over 3 yr old car)

Mine was 2008 USB/Alpine (Rare combo)
ML/Nav/Park Assist/Headlamp Washers.

Had 34xxx miles.

So i believe $39xxx is a very good # on Trade.

IS350atWOT

iTrader: (1)

That's true. They always work out the numbers to make it look like you're getting good trade in, when essentially, they are just reducing the cost of the new one.

At my dealer, Kelley Blue Book is what they use, so that's pretty much what you get. I found out that nobody uses the "excellent" condition value at any dealer, at least around this area. (I keep my car emaculate, but it doesn't matter). So when using Kelley or any online estimator, I use "good" condition. This is always closer to what they'll give me.

TURBOCARS

iTrader: (1)

I'm in the car business, I sell high end to exotic cars. A trade in of $39K is strong. I bought my 2008 Blk/Blk with 32,xxx miles May, 20008 for $38,500 without paintwork or anything wrong with the vehicle from a Florida dealership. The car happens to be a member on this forum that traded it in.

Do not use Edmunds or KBB values to determine what your vehicle is worth, you are mistaking yourself and dealers don't go by those figures. If we did we'd pay too much for every vehicle. If you walked into my dealership, and I give you KBB or edmunds $ amount, I will ask you will you to buy my car for KBB or Edmunds retail valued listed, which is usually $3K-4K higher than trade in value? I will guarantee you will say "no." Also I will tell you to go and sell your car to KBB or edmunds and see if they'll buy it for what they say. You will then think and ask yourself where is a KBB or edmunds? That's rigth they don't sell or buy cars. They simply are a 3rd party rough estimate that can be used to our advantage or yours. It's all about market value. If your car is needed we'll pay top $, if it's not we will low ball you to take a low risk in taking your vehicle, recon the vehicle (tires, dents, paint, etc.) and hopefully retail the vehicle for a profit.

If a dealer gives you $39K and than tries to sell it for $43K that is a fair profit margin. However it's never the case. eBay listing ($50+), detailing ($150), recon (tires= $1000, dent removal ($25-$50 per panel of dents), bumper touch-up $50+, alignment ($100), interior issue repairs ($150+). List goes on, you wonder why dealership have to profit $3K+? Why would anybody take a tradein of a $40K vehicle to make only $1000? That's horrible, i'd rather sell $5,000 cash cars and make $2K and have less headaches.

dmk08

I used to work at Manheim for 5 years so I still have access to their tools.

Average MMR Value on a 2008 IS-F with less than 25,000 miles is $38,780 with a low of $33,301 and a high of $44,259. All these cars had ML/Nav. The one that sold for $44,259 had 7,800 miles and was rated a 4.8 overall which is pretty rare. Most good vehicles are in the low 4s.

TBQH $39,998 is a good trade in value as that's more than what I was looking to pay for a 2008 w/ 37k from a dealer.

TURBOCARS

iTrader: (1)

MMR value is not the best indicator for IS-F, for IS-250 or IS-350 yes. Not enough transactions on MMR to fully understand. The best, check autotrader, cars.com. and ebay and see what dealers are selling and take a tradein of less than retail and sell for $1K less than dealers and you will out sell and make a profit fairly.

Forgot to add, consumers do not have access to MMR values, it's for dealers/wholesalers.

dmk08

Plenty of transactions and that's what dealers are paying for them. So I disagree. Anyway by your math it turns out to be about the same thing if not better. You can find a car like that all day for 41 so 39995 is just about 1k less.

IS350atWOT

iTrader: (1)

The used car business is booming right now which means you should get more for your trade according to this article.

http://www.msnbc.msn.com/id/43298325...-used-car-lot/

IS350atWOT

iTrader: (1)

My dealer does They actually pull up KBB with you setting there. And I pull it up on my laptop to confirm (while sitting there).

dmk08

Yeah KBB isn't so bad. If you're looking at "Trade-in" value its probably pretty close. You cannot look at "Used car value" though. That's what the dealers are selling them for obviously.

dmk08

Just for fun I put the 2008 I was buying into Autotrader.com and asked for an instant trade-in quote. I put it with no issues. 2008, 31k, ml+nav, clear carfax.