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This is our trade-in. It is a 2004 Commemorative Edition with 97000 miles on it. It is in good condition with new tires. We have looked at KBB and see the market value is from $11000 to $13000. However, the dealer wants to give us $8500. We think that is because we have the GM employee discount and he is trying to recoup some of that money. I know you can't tell me for certain just from the picture, but do any of you think this is a lowball offer?
They use Black Book values, which are based on auction data. KBB is never consistent with what a dealer will offer. I'd suggest selling it privately or try to work a deal in which the discount on the new car offsets, in part, the difference in your and their value of the trade. You should consider tax break by trading in a car versus buying a car trout trade in. When I traded my C6, the saving in sales tax compensated for the difference in my expectation and their offer.
If you can sell it privately , have your new car selling dealer do the paper work and run through as a courtesy trade, that may save you the sales tax.
We had done that a few times while living in Penna.
OP, Yes I think that's a low ball offer. Try taking it to CarMax or to a large local used car dealer that deals in cars in the $15K to $25K range to see what cash offers you'll obtain. I traded an 04 earlier this year and got way more than $8500. True mine only had 59K on the clock, but it was not a vert and not commemorative.
Also, try posting the same info over on the C5 forum for their estimates of what the car should bring. I think that car should wholesale for more than you're getting.
Last edited by roadbike56; 08-25-2016 at 08:25 AM.
I do not know what state you live in but in Missouri you can receive a refund of the excess sales tax paid if you sell your car within 180 days of the purchase of your new one.
Thats really low .. even Edmunds says trade in on your car should be $15K ... I don't think they are low balling you to scam you .. I think they are low balling you to tell you they don't want your trade.
I do not know what state you live in but in Missouri you can receive a refund of the excess sales tax paid if you sell your car within 180 days of the purchase of your new one.
OP, Yes I think that's a low ball offer. Try taking it to CarMax or to a large local used car dealer that deals in cars in the $15K to $25K range to see what cash offers you'll obtain. I traded an 04 earlier this year and got way more than $8500. True mine only had 59K on the clock, but it was not a vert and not commemorative.
Also, try posting the same info over on the C5 forum for their estimates of what the car should bring. I think that car should wholesale for more than you're getting.
I appreciate you reminding me of CarMax! There is one right across from the Chevy dealer. We will go there before signing papers on the '17.
Thats really low .. even Edmunds says trade in on your car should be $15K ... I don't think they are low balling you to scam you .. I think they are low balling you to tell you they don't want your trade.
We think that too or to make up for some of the money from the employee discount. I wish we had thought of CarMax. Trying that today!
Its a Lowball offer ! If you don't need a car, screw them. Check other dealers and stick to your guns. I refuse to give my car away. I would rather keep it.
I appreciate you reminding me of CarMax! There is one right across from the Chevy dealer. We will go there before signing papers on the '17.
Get the offer from Carmax (which is good for 5 days) and take it to your Chev dealer and ask him to match it. This has worked for me every time. As stated above, you should also save some $ on sales tax.
Thats really low .. even Edmunds says trade in on your car should be $15K ... I don't think they are low balling you to scam you .. I think they are low balling you to tell you they don't want your trade.
they don't want to sit on a high mileage C5. I'm guessing they called a wholesaler and got an offer to buy for 10 grand or so. So they will make a couple grand and the wholesale guy will sell it for $15K. I think you should easily get $15K for it all day long as long as it's in good condition. Sell it yourself.
Last edited by Team Player; 08-25-2016 at 09:00 AM.
I sold my 2014 Camaro SS to Carmax, and that's after getting buy offers at a couple of other dealers.
Pretty much all dealers will give you a buy offer if you ask them. Carmax just specializes in it.
However, for something a bit older, I sold my 2005 Ram 1500 with 175k miles. The Dodge dealer offered me $1000 in trade for it - and they gave me that offer while it was in their service department getting $2000 worth of work. HM Brown, a dealer who deals primarily with auctions, gave me $7000 for it.
08-25-2016, 06:47 AM
Lowball offer?
they don't want to sit on a high mileage C5. I'm guessing they called a wholesaler and got an offer to buy for 10 grand or so. So they will make a couple grand and the wholesale guy will sell it for $15K. I think you should easily get $15K for it all day long as long as it's in good condition. Sell it yourself.
