Trade value?
Thread Starter
5th Gear
Joined: Dec 2008
Posts: 5
Likes: 0
From: Dallas TX
Trade value?
I'm confused...what do you feel the trade value would be on the below:
2006 coupe LT1, 28k miles, excellent condition
KBB states between 26k-30k
Dealers are offering me 23k for it
I could use some input from the members here to make sure i'm getting a fair shake on it.
Thanks
2006 coupe LT1, 28k miles, excellent condition
KBB states between 26k-30k
Dealers are offering me 23k for it
I could use some input from the members here to make sure i'm getting a fair shake on it.
Thanks
Team Owner
Joined: Jun 2001
Posts: 26,714
Likes: 344
From: Houston, TX
The problem with trade-in value now is that many dealers just don't have a desire to take one at any price. So they low-ball you with a price that if you do bite, they will either wholesale it off, or figure they can't go wrong.
I've always been able to get KBB for my cars from a dealer who I know very well, and I deal with the owner. But I also know that if I walked into the same dealer unknown to them, they would offer me $3,000 less. I actually sent a friend of mine there once and he did not ask for the owner. That is exactly what happened. He got a price, then when I got him in contact with the owner they gave him $3,000 more.
The point is that they are going to work you over to give you the lowest price they can. But the value may be higher - if you are very good at negotiating or find the right dealer who is low on Corvettes and thinks he has a good market for yours.
I've always been able to get KBB for my cars from a dealer who I know very well, and I deal with the owner. But I also know that if I walked into the same dealer unknown to them, they would offer me $3,000 less. I actually sent a friend of mine there once and he did not ask for the owner. That is exactly what happened. He got a price, then when I got him in contact with the owner they gave him $3,000 more.
The point is that they are going to work you over to give you the lowest price they can. But the value may be higher - if you are very good at negotiating or find the right dealer who is low on Corvettes and thinks he has a good market for yours.
Safety Car
Joined: Dec 2007
Posts: 4,070
Likes: 160
From: Coralville Iowa
You have a base car with reasonable miles (but many Corvette owners would say "high" miles). It's what the market will bear right now. You're lucky to find a dealer that would actually be willing to take your car on trade.
Intermediate
Joined: Nov 2008
Posts: 36
Likes: 0
From: Oklahoma
That would be about what I would guess trade in would be right now, especially on a LT1. If you don't want to get hit quit so hard you can try selling it privately which really stinks!
Last edited by Jeepin_Lawyer; Dec 26, 2008 at 09:00 AM. Reason: typo
Melting Slicks
Joined: Nov 2008
Posts: 2,093
Likes: 0
From: Elk Grove CA
It might also be worth trying Carmax. Good luck with your decision.
Team Owner
Joined: Aug 2003
Posts: 38,314
Likes: 35
I'm confused...what do you feel the trade value would be on the below:
2006 coupe LT1, 28k miles, excellent condition
KBB states between 26k-30k
Dealers are offering me 23k for it
I could use some input from the members here to make sure i'm getting a fair shake on it.
Thanks
2006 coupe LT1, 28k miles, excellent condition
KBB states between 26k-30k
Dealers are offering me 23k for it
I could use some input from the members here to make sure i'm getting a fair shake on it.
Thanks
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Le Mans Master
Joined: Feb 2008
Posts: 5,188
Likes: 4
From: S.F. Bay Area CA.
The problem with trade-in value now is that many dealers just don't have a desire to take one at any price. So they low-ball you with a price that if you do bite, they will either wholesale it off, or figure they can't go wrong.
I've always been able to get KBB for my cars from a dealer who I know very well, and I deal with the owner. But I also know that if I walked into the same dealer unknown to them, they would offer me $3,000 less. I actually sent a friend of mine there once and he did not ask for the owner. That is exactly what happened. He got a price, then when I got him in contact with the owner they gave him $3,000 more.
The point is that they are going to work you over to give you the lowest price they can. But the value may be higher - if you are very good at negotiating or find the right dealer who is low on Corvettes and thinks he has a good market for yours.
I've always been able to get KBB for my cars from a dealer who I know very well, and I deal with the owner. But I also know that if I walked into the same dealer unknown to them, they would offer me $3,000 less. I actually sent a friend of mine there once and he did not ask for the owner. That is exactly what happened. He got a price, then when I got him in contact with the owner they gave him $3,000 more.
The point is that they are going to work you over to give you the lowest price they can. But the value may be higher - if you are very good at negotiating or find the right dealer who is low on Corvettes and thinks he has a good market for yours.
Race Director
Joined: Dec 2006
Posts: 14,006
Likes: 26
From: JawJa
The main thing is when you decide to jump, get the one you want. Big time buyers market now but things could very well start tightening up and values on trades, well . . . who wants to give a perfectly good vette away. That's the situation with me. Good luck.
Race Director
Joined: Dec 2007
Posts: 19,574
Likes: 167
From: Frederick, MD
That sounds about right for your car unfortunately. If your state has a tax break you may be able to get about $1500 off your new car though.
Personally I'm not going to trade in a car again. The next car I buy will be in a few years when I give my daughter my 07 Impala SS. No loss in value there. And really the deals on a lot of the new cars out there are really not that great. There is some such as SUVs and pickups but they were overpriced a lot to begin with.
Personally I'm not going to trade in a car again. The next car I buy will be in a few years when I give my daughter my 07 Impala SS. No loss in value there. And really the deals on a lot of the new cars out there are really not that great. There is some such as SUVs and pickups but they were overpriced a lot to begin with.
