The Stealership
Thread Starter
Racer
Joined: May 2015
Posts: 383
Likes: 17
From: Whiteville NC
The Stealership
Ok so I've been looking for a C6 for a while,found one I liked and went to try and make a deal,that's when I was first insulted and they must have thought I had gullible written on my forehead.
Tried dealing with Hendrick Chevy in Charlotte price on the car was reasonable 27,900 for a 2010 with 3lt and 61000 miles,was trading a 04 coupe immaculate inside and out with deep dish z06 wheels tinted windows and12disc CD changer along with all other available options.
Here's where it got interesting, my car has 55,000 miles no wrecks or damage ever and they said they would trade for 12,997.97.
Am I out of line or is this stealing with a license? And oh yeah that was including my 1,000 dollar customer loyalty discount.I'm sorry but I'll never darken the doors of a Hendrick lot or anyone associated with them.
Tried dealing with Hendrick Chevy in Charlotte price on the car was reasonable 27,900 for a 2010 with 3lt and 61000 miles,was trading a 04 coupe immaculate inside and out with deep dish z06 wheels tinted windows and12disc CD changer along with all other available options.
Here's where it got interesting, my car has 55,000 miles no wrecks or damage ever and they said they would trade for 12,997.97.
Am I out of line or is this stealing with a license? And oh yeah that was including my 1,000 dollar customer loyalty discount.I'm sorry but I'll never darken the doors of a Hendrick lot or anyone associated with them.
Melting Slicks
Joined: Jul 2010
Posts: 2,503
Likes: 33
From: McGrady NC
St. Jude Donor '15-'16
The car business is complicated. I'm not advocating what's going on but without more details its hard to get enough insight to make a statement either way. What did they have the C6 priced for? Did you already beat them down to their bottom dollar and then tell them about the trade? Dealers work their deals from the bottom line to the top. Customers look at it from the top line to the bottom.
Did you check the book on a realistic average price for both vehicles? Blue book is way off. Edmunds is close. Use the NADA guide or the Black Book, especially in NC. They may have so much in the C6 that a good trade for you for your C5 is not possible. You may need to either make them an offer that you feel good about and stick pretty close to it or look elsewhere.
Remember, if a car dealer has ten virtually identical used cars on the lot he has a different amount of money in each car. It all depends on how he bought it or traded for it.
Yes, I used to own a new car dealership. Sad but true.
EDIT: I just re-read your post and saw the price. I missed it without the $. Again, check the book and compare prices in the area. Also remember that dealers rarely care about fancy wheels or upgraded audio. They look at it as a stock car for pricing.
Did you check the book on a realistic average price for both vehicles? Blue book is way off. Edmunds is close. Use the NADA guide or the Black Book, especially in NC. They may have so much in the C6 that a good trade for you for your C5 is not possible. You may need to either make them an offer that you feel good about and stick pretty close to it or look elsewhere.
Remember, if a car dealer has ten virtually identical used cars on the lot he has a different amount of money in each car. It all depends on how he bought it or traded for it.
Yes, I used to own a new car dealership. Sad but true.
EDIT: I just re-read your post and saw the price. I missed it without the $. Again, check the book and compare prices in the area. Also remember that dealers rarely care about fancy wheels or upgraded audio. They look at it as a stock car for pricing.
Last edited by CaseyJones; Sep 25, 2015 at 04:09 PM.
Thread Starter
Racer
Joined: May 2015
Posts: 383
Likes: 17
From: Whiteville NC
The car business is complicated. I'm not advocating what's going on but without more details its hard to get enough insight to make a statement either way. What did they have the C6 priced for? Did you already beat them down to their bottom dollar and then tell them about the trade? Dealers work their deals from the bottom line to the top. Customers look at it from the top line to the bottom.
Did you check the book on a realistic average price for both vehicles? Blue book is way off. Edmunds is close. Use the NADA guide or the Black Book, especially in NC. They may have so much in the C6 that a good trade for you for your C5 is not possible. You may need to either make them an offer that you feel good about and stick pretty close to it or look elsewhere.
Remember, if a car dealer has ten virtually identical used cars on the lot he has a different amount of money in each car. It all depends on how he bought it or traded for it.
Yes, I used to own a new car dealership. Sad but true.
Did you check the book on a realistic average price for both vehicles? Blue book is way off. Edmunds is close. Use the NADA guide or the Black Book, especially in NC. They may have so much in the C6 that a good trade for you for your C5 is not possible. You may need to either make them an offer that you feel good about and stick pretty close to it or look elsewhere.
Remember, if a car dealer has ten virtually identical used cars on the lot he has a different amount of money in each car. It all depends on how he bought it or traded for it.
Yes, I used to own a new car dealership. Sad but true.
Yes I checked and it was reasonable on their price and I told them about the trade up front,They have several corvettes on the lot,They wouldn't budge on the price so I guess with fall here and knowing that snow isn't many months away unless they find another buyer they can keep it till spring .Just felt very insulted and disrespected by how I was treated and talked to like I had no idea what their car was.I asked 18,500 for trade in which they said was ridiculous yet they have a few on Hendrick cars .com with lots more miles for 22 to 24 thousand.
Burning Brakes
Joined: Aug 2010
Posts: 1,051
Likes: 54
From: Raleigh NC
Lol if you want your car gone and want to get in something new with no hassle then a trade in is for you. But if you are expecting to get ANYWHERE near the book value of your car then you shouldn't have even considered trading it in.
Want to be even more Insulted? Take the car to CarMax and try to sell it to them!
Want to be even more Insulted? Take the car to CarMax and try to sell it to them!
Melting Slicks
Joined: Jul 2010
Posts: 2,503
Likes: 33
From: McGrady NC
St. Jude Donor '15-'16
You might have gotten ahold of a hungry or greedy salesman. I know its frustrating. That's why I'm not in the business anymore. I like to be able to sleep at night without thinking that I wasn't giving every customer the best deal possible. I hate to rob or be robbed.
Keep looking. Your car is out there somewhere.
Keep looking. Your car is out there somewhere.
Racer
Joined: Sep 2014
Posts: 429
Likes: 29
From: Brooklyn, MI
Ok so I've been looking for a C6 for a while,found one I liked and went to try and make a deal,that's when I was first insulted and they must have thought I had gullible written on my forehead.
Tried dealing with Hendrick Chevy in Charlotte price on the car was reasonable 27,900 for a 2010 with 3lt and 61000 miles,was trading a 04 coupe immaculate inside and out with deep dish z06 wheels tinted windows and12disc CD changer along with all other available options.
Here's where it got interesting, my car has 55,000 miles no wrecks or damage ever and they said they would trade for 12,997.97.
Am I out of line or is this stealing with a license? And oh yeah that was including my 1,000 dollar customer loyalty discount.I'm sorry but I'll never darken the doors of a Hendrick lot or anyone associated with them.
Tried dealing with Hendrick Chevy in Charlotte price on the car was reasonable 27,900 for a 2010 with 3lt and 61000 miles,was trading a 04 coupe immaculate inside and out with deep dish z06 wheels tinted windows and12disc CD changer along with all other available options.
Here's where it got interesting, my car has 55,000 miles no wrecks or damage ever and they said they would trade for 12,997.97.
Am I out of line or is this stealing with a license? And oh yeah that was including my 1,000 dollar customer loyalty discount.I'm sorry but I'll never darken the doors of a Hendrick lot or anyone associated with them.
NADAGUIDES CAR PRICES
CAR RESEARCH TOOLS
CAR DEALS
COMPARE CARS
Car Pricing
>
Compare Cars
Compare Cars
Compare new and/or used cars side-by-side. Clearly see their similarities and differences in terms of price, features, performance and more
Car 1
2004 Chevrolet
Corvette
Coupe 2D (AT/6 Spd)
Car 2
2010 Chevrolet
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Pricing
MSRP
$43,835 $48,930
Invoice
$38,356 $44,526
Used Clean Trade-In
$13,200 $22,625
Used Clean Retail
$16,575 $25,000
NADA values, dealer not really that far off.
Melting Slicks
Joined: Jul 2010
Posts: 2,503
Likes: 33
From: McGrady NC
St. Jude Donor '15-'16
There you go. It didn't sound that bad to me, either, but I'm not trying to work a deal.
I know we all think are cars are worth more than they are. I certainly do! However, realistically speaking, newer Corvettes are fairly plentiful and the values reflect that. Individuals are always more inclined to pay more than a dealer for a lot of reasons. Perhaps you could sell it yourself?
I bought my Z06 from a dealer outright and got a pretty good deal, but I set a price and stuck to it. Several days of negotiations later I bought it for just about what I offered. But I checked around and researched it before I made my offer. It's a game and not like buying a pair of socks at WalMart. You have to assume that the dealer has something near a low book amount in his car and you want high book value for your trade. There is a middle ground.
Sometimes it works, sometimes it doesn't. Good luck!
I know we all think are cars are worth more than they are. I certainly do! However, realistically speaking, newer Corvettes are fairly plentiful and the values reflect that. Individuals are always more inclined to pay more than a dealer for a lot of reasons. Perhaps you could sell it yourself?
I bought my Z06 from a dealer outright and got a pretty good deal, but I set a price and stuck to it. Several days of negotiations later I bought it for just about what I offered. But I checked around and researched it before I made my offer. It's a game and not like buying a pair of socks at WalMart. You have to assume that the dealer has something near a low book amount in his car and you want high book value for your trade. There is a middle ground.
Sometimes it works, sometimes it doesn't. Good luck!
Last edited by CaseyJones; Sep 25, 2015 at 04:42 PM.
Safety Car
Joined: Jan 2015
Posts: 3,830
Likes: 394
From: Rocky Mountains
So you're paying 15k to make the swap ?
Honestly that doesn't sound bad to me. 12.9 is low for an 04 with 55k miles, but I don't think you can realistically expect 18.5k trade in value. Not if they're selling a 2010 for 27.9.
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Safety Car
Joined: Apr 2011
Posts: 4,260
Likes: 429
From: Houston TX
Sounds about right. If you want top dollar you'll have to sell yours privately. In Texas, you'd also get to reduce your sales tax by the trade amount, which is one plus of trading. Not sure where you're located, but it's something to keep in mind as you'd have to get around 14k privately to make up the difference.
Also, how are you getting a customer loyalty discount on a used car? I thought that was for new cars only. Or is this a dealer you've bought from before that has a program of their own?
Also, how are you getting a customer loyalty discount on a used car? I thought that was for new cars only. Or is this a dealer you've bought from before that has a program of their own?
Thread Starter
Racer
Joined: May 2015
Posts: 383
Likes: 17
From: Whiteville NC
Sounds about right. If you want top dollar you'll have to sell yours privately. In Texas, you'd also get to reduce your sales tax by the trade amount, which is one plus of trading. Not sure where you're located, but it's something to keep in mind as you'd have to get around 14k privately to make up the difference.
Also, how are you getting a customer loyalty discount on a used car? I thought that was for new cars only. Or is this a dealer you've bought from before that has a program of their own?
Also, how are you getting a customer loyalty discount on a used car? I thought that was for new cars only. Or is this a dealer you've bought from before that has a program of their own?
Racer
Joined: Sep 2014
Posts: 429
Likes: 29
From: Brooklyn, MI
Race Director
Joined: May 2003
Posts: 14,137
Likes: 2,984
From: Iowa
St. Jude Donor '03 thru '26
I would never recommmend trading in a vehicle to a Stealership.
It's not that hard to sell your C5 on your own. Many C5s get sold right here on the Forum. I purchased my 1998 here.
https://www.corvetteforum.com/forums...ale-wanted-53/
It's not that hard to sell your C5 on your own. Many C5s get sold right here on the Forum. I purchased my 1998 here.
https://www.corvetteforum.com/forums...ale-wanted-53/
Le Mans Master
Joined: Jan 2004
Posts: 9,488
Likes: 1,743
From: Knoxville Tn
Most of us forget about the sales tax involved when trading.
Selling a car outright and then using no trade in can be very costly from a sales tax point of view.
We pay around 10% sales tax ( a bit less) here in Tennessee, So the difference between trade in value and the newer car is actually higher for a lessor trade in, or should you use no trade in.
Let's say you sold your 04 for $15,000 to a neighbor.
Now you go buy a $27,500 off any lot or individual.
You will be paying roughly $2,700 to the state in sales tax.
Now trade in an 04 for $13,000 and you only pay the sales on $14,500 (or a sales tax 0f $1450) That's roughly $1250 dollar difference.
J/S
Selling a car outright and then using no trade in can be very costly from a sales tax point of view.
We pay around 10% sales tax ( a bit less) here in Tennessee, So the difference between trade in value and the newer car is actually higher for a lessor trade in, or should you use no trade in.
Let's say you sold your 04 for $15,000 to a neighbor.
Now you go buy a $27,500 off any lot or individual.
You will be paying roughly $2,700 to the state in sales tax.
Now trade in an 04 for $13,000 and you only pay the sales on $14,500 (or a sales tax 0f $1450) That's roughly $1250 dollar difference.
J/S
Racer
Joined: May 2015
Posts: 319
Likes: 90
From: North Ridgeville Ohio
We always pay TOO MUCH!!!
I have been selling Toyotas for almost 20 years, this past May a lady came in and was working a deal to buy a Tacoma and wanted to trade in a 2000 C5 convertable and another car. The C5 had 2600 miles and had never even been rained on. They offered her $12k and she walked out. After making some calls on the car outside wholesalers told us they would give us $19,000 for the car. We made the deal with her and I bought the C5 for $20,200. It was more than I really wanted to pay and it was too much but I would do it again tomorrow. Chek pricing on both cars, and offer them what you think is fair. If they turn you down then you haven't offered enough but if you really believe your car is worth more don't just give it away. If they refuse to budge then you might be better off to look someplace else. Good luck.
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I'm a bit confused by your post - was the dealer offering to make the deal for $12,997.97 difference or was that what they were offering as a trade value for your car? If the former, that's not a bad deal.
Thread Starter
Racer
Joined: May 2015
Posts: 383
Likes: 17
From: Whiteville NC
They wanted that much plus my car for theirs plus taxes doc fee etc just seemed way high to me.
Racer
Joined: Dec 2014
Posts: 277
Likes: 10
From: West Palm Beach FL
Ok so I've been looking for a C6 for a while,found one I liked and went to try and make a deal,that's when I was first insulted and they must have thought I had gullible written on my forehead.
Tried dealing with Hendrick Chevy in Charlotte price on the car was reasonable 27,900 for a 2010 with 3lt and 61000 miles,was trading a 04 coupe immaculate inside and out with deep dish z06 wheels tinted windows and12disc CD changer along with all other available options.
Here's where it got interesting, my car has 55,000 miles no wrecks or damage ever and they said they would trade for 12,997.97.
Am I out of line or is this stealing with a license? And oh yeah that was including my 1,000 dollar customer loyalty discount.I'm sorry but I'll never darken the doors of a Hendrick lot or anyone associated with them.
Tried dealing with Hendrick Chevy in Charlotte price on the car was reasonable 27,900 for a 2010 with 3lt and 61000 miles,was trading a 04 coupe immaculate inside and out with deep dish z06 wheels tinted windows and12disc CD changer along with all other available options.
Here's where it got interesting, my car has 55,000 miles no wrecks or damage ever and they said they would trade for 12,997.97.
Am I out of line or is this stealing with a license? And oh yeah that was including my 1,000 dollar customer loyalty discount.I'm sorry but I'll never darken the doors of a Hendrick lot or anyone associated with them.
Team Owner
Joined: Jun 2004
Posts: 96,209
Likes: 75
From: Houston Texas
St. Jude Donor '09
That was a low ball trade in offer, period.....
You have to expect that at some dealerships...
My advice, sell your car on your own and search for a one owner C6 in your area, get rid of the middleman dealership.....
get your own financing set up and after you sell your car, take your time and get what you want.....
