Trade In Values for SC430
09-20-11, 06:28 PM
#1
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Trade In Values for SC430
While I was getting my SC430 serviced at the Lexus dealer I walked over to the showroom and out of curiosity asked a salesperson how much they would pay for a trade on a 2002 SC430 with around 130K miles in good condition.
He proceded to ask me for the color, did some number crunching, and said "Between $8,000 and $9,000". I am thinking this is ridiculously low.
The KBB trade in value states $11,000 and NADA trade in value states $11,225, which is a huge disparity.
I'm not looking to trade my SC in, but curious if any of you have had any experiences with trade-in values for the SC?
He proceded to ask me for the color, did some number crunching, and said "Between $8,000 and $9,000". I am thinking this is ridiculously low.
The KBB trade in value states $11,000 and NADA trade in value states $11,225, which is a huge disparity.
I'm not looking to trade my SC in, but curious if any of you have had any experiences with trade-in values for the SC?
09-20-11, 06:49 PM
#3
I agree. Two yrs ago when I in the market for an SC, I looked at a couple on dealer lots.
1. Way too much $$$ for the condition
2. I felt they really just wanted them off of the lot
It's a little dichotomous to me but to each his own,
Jerry Baumchen
09-20-11, 08:14 PM
#4
Yep I bought mine at an Infinity Dealership and I saw 2 at one dealership either Benz or Infinity...cant remember yest on the side of the road, another futher up the street again not a lexus dealership. The ones I have seen at the dealership were newer like 2008-2009. I think maybe these non lexus dealers might be over paying for the trade ins too because the prices are pretty high up there. Lexus just might feel that since they didnt sell many of these in the first place that they would be holding it too long if they paid top dollar so they low ball you so they can move it quick or liquidate it at a profit at an auction.
Last edited by robertrios; 09-25-11 at 07:21 PM.
09-23-11, 08:08 PM
#6
$11k is a "fair" price considering year/mileage on paper. $8k on a similar car is a Lexus franchise margin. To us, it's a crime, but this is how they pay for the "relentless pursuit of perfection" which costs money to do that!
As we all know because we love these cars, there is certainly more than meets the eye when driving/owning an SC. I wouldn't do it either for $8k or $11k. Realistically these cars retail for $14-$15k all day long, so a $3k spread from trade in to retail (CarMax) is pretty lean actually. Car Max traditionally does not negotiate and offers pretty straightforward trade in process--like they don't accept cars with paintwork, etc. So, coming in most cars there will not need as much work as a car, say traded in at a Lexus dealer. Additionally Lexus franchise dealers are not willing to take risks on both ends. If you are just selling your car to them and not buying another, you will definitely get the short end of the stick, unless you are selling something extremely desirable and in short demand like a hybrid or something.
At the Lexus dealers they like a LOT more padding and plan on R&R a ton of items, detail, floor mats, service, etc and probably plan on retailing the same car for $18k!!!! In my experience on both ends buying and selling Lexus cars at Lexus dealers honestly the spread is so wide it almost makes you sick...even on a lower priced, older car. I've seen $2k-$3k easily pumped into a $10k car at trade in and then they market it at $20k. That's some profit!
For instance...I remember this one hurt: My 1995 SC400 with 52k miles in 2000 sold for $25k to an individual buyer but Lexus wanted to only give me $18k at the time...at the same dealer I bought the car at new and got it serviced there from day one. No damage/paint work, some nice upgrades, etc. Weeks later I saw my car almost exactly there at that same dealer for $30k!!!! So potentially they made around $10k on a $30k car. Really? Most likely they justified a hefty list of make ready items like CPO (they make lots of markup on this) detailing, tires, battery, wipers, body work, power antennas, etc etc etc. In reality and explained properly to the customer, their margin is probably more like $5k on this car. Still...to us commonfolk trying to trade in or sell our cars it seems like robbery!
I've seen recently a 2005 SC with 60k miles...rough, filthy, needing major TLC traded in at dealer. They CPO'd it and probably paid under $20k for it and are currently retailing it for nearly $33k! Go figure.
As we all know because we love these cars, there is certainly more than meets the eye when driving/owning an SC. I wouldn't do it either for $8k or $11k. Realistically these cars retail for $14-$15k all day long, so a $3k spread from trade in to retail (CarMax) is pretty lean actually. Car Max traditionally does not negotiate and offers pretty straightforward trade in process--like they don't accept cars with paintwork, etc. So, coming in most cars there will not need as much work as a car, say traded in at a Lexus dealer. Additionally Lexus franchise dealers are not willing to take risks on both ends. If you are just selling your car to them and not buying another, you will definitely get the short end of the stick, unless you are selling something extremely desirable and in short demand like a hybrid or something.
At the Lexus dealers they like a LOT more padding and plan on R&R a ton of items, detail, floor mats, service, etc and probably plan on retailing the same car for $18k!!!! In my experience on both ends buying and selling Lexus cars at Lexus dealers honestly the spread is so wide it almost makes you sick...even on a lower priced, older car. I've seen $2k-$3k easily pumped into a $10k car at trade in and then they market it at $20k. That's some profit!
For instance...I remember this one hurt: My 1995 SC400 with 52k miles in 2000 sold for $25k to an individual buyer but Lexus wanted to only give me $18k at the time...at the same dealer I bought the car at new and got it serviced there from day one. No damage/paint work, some nice upgrades, etc. Weeks later I saw my car almost exactly there at that same dealer for $30k!!!! So potentially they made around $10k on a $30k car. Really? Most likely they justified a hefty list of make ready items like CPO (they make lots of markup on this) detailing, tires, battery, wipers, body work, power antennas, etc etc etc. In reality and explained properly to the customer, their margin is probably more like $5k on this car. Still...to us commonfolk trying to trade in or sell our cars it seems like robbery!
I've seen recently a 2005 SC with 60k miles...rough, filthy, needing major TLC traded in at dealer. They CPO'd it and probably paid under $20k for it and are currently retailing it for nearly $33k! Go figure.
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09-25-11, 07:24 PM
#8
i think with these cars its best to sell private party, it was the same case with my Eclipse and Integra which by all means are not in he same realm but they are popular cars and certain features and maybe even mods will make your car easier to market for instance lets say on here. A dealership will not appreciate things like taking off the RFT, taking of the pie plates, 06+ tail, or luxlink for that matter but I bet an 02 with all of that would sell a little over the KBB in nice condition, mileage and maint. on CL.
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