Resale Value
Thread Starter
Instructor
Joined: Sep 2008
Posts: 106
Likes: 0
Resale Value
I was told that I needed a backseat soon so I have been trying to trade my 07 vert in on a few different vehicles.... to my surprise my vert is worth squat..... the utmost ANY dealer will give me is 40 grand canadian.... The USED dodge Challenger R/T i was looking at.... the lowest he would go was 41500 and he felt bad about even offering me such a low price....Maybe not a big deal to some... but I just couldn't believe what I was hearing....needless to say... the vert is still in the garage....
Racer
Joined: Sep 2009
Posts: 389
Likes: 0
From: Honolulu Hawaii
Dealerships are always going to give you the absolute lowest value they think they can for your trade-in. Sell your car private party rather than trading in if you want the best value. Another way to do it is go to the dealership, settle on a price for the new car you want and then mention your trade-in. Still not guaranteed to get the best value for your trade-in, but it can possibly help you negotiate the best value for the new car.
Melting Slicks
Joined: Sep 2004
Posts: 3,287
Likes: 1
From: Union City CA
Dealerships are always going to give you the absolute lowest value they think they can for your trade-in. Sell your car private party rather than trading in if you want the best value. Another way to do it is go to the dealership, settle on a price for the new car you want and then mention your trade-in. Still not guaranteed to get the best value for your trade-in, but it can possibly help you negotiate the best value for the new car.
Sell your Corvette yourself, you will get more for it than the trade in value. Then when you have cash in hand, then you can shop around for the next car you want. Cash is king now days. Good luck to you. 
Team Owner
Joined: Nov 2007
Posts: 45,265
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From: Rochester, NY
Le Mans Master
Joined: Feb 2008
Posts: 5,634
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From: Lake Worth Beach, Florida
Le Mans Master
Joined: Dec 2005
Posts: 7,753
Likes: 210
From: North Western Connecticut
It's really simple!! Dealers maximize profits at both ends of the deal if they can! I'd look for a private sale but talk to a few more dealers. Some have better markets for used cars than others...........
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Melting Slicks
Joined: May 2002
Posts: 2,250
Likes: 2
From: Escondido Ca
resale value
Something wrong with the above post: advertise the trade in value & accept the private party value...that is backasswards!
Dealers will only give you the wholesale value for your car...period! And why not? Why would they pay you anywhere near top dollar when they can buy Corvettes all day long at auction for thousands less than what you would consider a fair price!!
Then again, the used car market is in real bad shape right now. Cars are not bringing in what people expect to get. Just keep it if you can afford two cars. That's what I am doing, not trying to sell the C6 though, just my cherry Acura!
Dealers will only give you the wholesale value for your car...period! And why not? Why would they pay you anywhere near top dollar when they can buy Corvettes all day long at auction for thousands less than what you would consider a fair price!!
Then again, the used car market is in real bad shape right now. Cars are not bringing in what people expect to get. Just keep it if you can afford two cars. That's what I am doing, not trying to sell the C6 though, just my cherry Acura!
Race Director
Joined: Dec 2007
Posts: 19,574
Likes: 167
From: Frederick, MD
If dealers in your area use the auction prices then you are pretty much screwed no matter where you go. Your best bet would be to go to the dealer that sold you the car.
I don't know if I would buy Fiat, eh Dodge right now.
I don't know if I would buy Fiat, eh Dodge right now.
Burning Brakes
Joined: Apr 2006
Posts: 1,174
Likes: 53
From: Largo Florida
I stopped to look at Z06s the other night to see what kind of deals they had on 09s. The salesman talked me into letting them appraise my 08 Vert, all I can say is 
. They wanted to give me 36k for my 08 Vert/Z51 with 6k miles.
. They wanted to give me 36k for my 08 Vert/Z51 with 6k miles.
Racer
Joined: Nov 2008
Posts: 355
Likes: 1
I don't actually think you can sell a Vette for anywhere near "retail" value right now tho.. I think the best you can hope for is private party value.
Kelly Blue Book just gives you a guideline, they don't write checks!
Melting Slicks
Joined: Aug 2006
Posts: 2,608
Likes: 374
From: Oceanside CA
Burning Brakes
Joined: Jan 2009
Posts: 1,189
Likes: 2
From: Northern VA
Something wrong with the above post: advertise the trade in value & accept the private party value...that is backasswards!
Dealers will only give you the wholesale value for your car...period! And why not? Why would they pay you anywhere near top dollar when they can buy Corvettes all day long at auction for thousands less than what you would consider a fair price!!
Then again, the used car market is in real bad shape right now. Cars are not bringing in what people expect to get. Just keep it if you can afford two cars. That's what I am doing, not trying to sell the C6 though, just my cherry Acura!
Dealers will only give you the wholesale value for your car...period! And why not? Why would they pay you anywhere near top dollar when they can buy Corvettes all day long at auction for thousands less than what you would consider a fair price!!
Then again, the used car market is in real bad shape right now. Cars are not bringing in what people expect to get. Just keep it if you can afford two cars. That's what I am doing, not trying to sell the C6 though, just my cherry Acura!
I think you mean advertise the RETAIL value, THEY will ask for the private party value, then meet in the middle...
I don't actually think you can sell a Vette for anywhere near "retail" value right now tho.. I think the best you can hope for is private party value.
Kelly Blue Book just gives you a guideline, they don't write checks!
I don't actually think you can sell a Vette for anywhere near "retail" value right now tho.. I think the best you can hope for is private party value.
Kelly Blue Book just gives you a guideline, they don't write checks!
Burning Brakes
Joined: Jan 2006
Posts: 973
Likes: 41
From: Dysartsville, NC
Good suggestion. Go econo-box or a used appliance car, and put your vette up for private sale. It will probably take a while to sell but you will probably come out better in the long run.
Racer
Joined: Apr 2009
Posts: 466
Likes: 0
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Le Mans Master
Joined: Oct 2004
Posts: 6,813
Likes: 287
From: Toronto Ontario Canada
I was told that I needed a backseat soon so I have been trying to trade my 07 vert in on a few different vehicles.... to my surprise my vert is worth squat..... the utmost ANY dealer will give me is 40 grand canadian.... The USED dodge Challenger R/T i was looking at.... the lowest he would go was 41500 and he felt bad about even offering me such a low price....Maybe not a big deal to some... but I just couldn't believe what I was hearing....needless to say... the vert is still in the garage....
Last edited by b4i4getit; Sep 26, 2009 at 01:39 PM.
Racer
Joined: Nov 2008
Posts: 355
Likes: 1
Go ahead, tell this gentleman to advertise the retail price, which will get him ZERO interested parties. Someone can go to a dealer and get a used C6 below retail. I had it right, advertise the NADA or KBB printed out trade in value, and ASK for the Private party value, then he'll get an audience. Or, he can sit around with a nice C6 with a retail sticker on it for many years to come. Or......don't drive it anymore, give to his grand kids who can then ask for the 2009 suggested retail price 50 years from now.
I don't think he should advertise at the retail price, I agree, no one will take him seriously.. But what I don't understand is how you advertise a lower price then ask for a higher one when a buyer shows up?? Seems a little shady...
You do understand that trade in value is going to be LOWER than private party, correct?
I guess I'm just not following your logic...