FS 07 Z06 5300 Mi Red/Blk 2LZ w/Nav
12-21-2012, 07:56 AM
#21
Team Owner
Captain troll! Above! Rolls in from the forum after school.Getting ready to use some pimple cream on his face.
Wondering when he can save and Get his first C-5 with one gray fender on a blue car with180,000
miles.
So he can sell the mustang! Tired of being a total loser!
Last edited by 3 Z06ZR1; 12-21-2012 at 08:00 AM.
12-29-2012, 05:15 PM
#25
Former Vendor
Trade In Allowance
Hi Guys, pardon the interruption, but as an independent Corvette Dealer, I am compelled to comment here.
First of all, I'm not exactly sure what this means:
Is the price 100k or not? Assuming it's advertised at 100k, then you DO know the price...and there isn't a dealer in this country who can arbitrarily raise the price to compensate for a trade in. It's called overallowance - and there's no benefit to anyone - not the bank, not the buyer, and not the dealer. In fact, the bank will most likely kick it back because the value doesn't line up. And there's no tax benefit either because you pay sales tax on the gross, not net value of the new car.
What is much more likely to happen is that the dealer will not lower the asking price - his only defense towards an above average trade-in value. The other thing they can do is get you on the back-end (financing, gap insurance, wheel insurance, paint insurance, etc, etc) - but if you show up with your own financing (highly recommended, and BTW, the only way we do it here at Cooper Corvettes) you don't have any of those fees either.
Another thing that you're not considering here is the fact that the dealer could legitimately have another buyer in mind for your car...a factor that amps up the entire deal...it's effectively two for one. In this case, they might "overallow" knowing full well that they are going to turn around and sell your car tomorrow for a mere $1000 profit. Remember, most [franchise] dealers' sales success is based on UNITS sold, not PROFIT gained. So suddenly, the salesrep sees TWO cars he can sell in two days > hence, the higher than average trade-in allowance for your car. If this happens to you, I hope you're ready to get off the fence, because everyone wins in this scenario!!
To summarize, if you show up with your own financing and the dealer has given you an advertised price along with a formal offer for your trade-in (of any kind), THAT is the deal!! Period.
First of all, I'm not exactly sure what this means:
What is much more likely to happen is that the dealer will not lower the asking price - his only defense towards an above average trade-in value. The other thing they can do is get you on the back-end (financing, gap insurance, wheel insurance, paint insurance, etc, etc) - but if you show up with your own financing (highly recommended, and BTW, the only way we do it here at Cooper Corvettes) you don't have any of those fees either.
Another thing that you're not considering here is the fact that the dealer could legitimately have another buyer in mind for your car...a factor that amps up the entire deal...it's effectively two for one. In this case, they might "overallow" knowing full well that they are going to turn around and sell your car tomorrow for a mere $1000 profit. Remember, most [franchise] dealers' sales success is based on UNITS sold, not PROFIT gained. So suddenly, the salesrep sees TWO cars he can sell in two days > hence, the higher than average trade-in allowance for your car. If this happens to you, I hope you're ready to get off the fence, because everyone wins in this scenario!!
To summarize, if you show up with your own financing and the dealer has given you an advertised price along with a formal offer for your trade-in (of any kind), THAT is the deal!! Period.
