Negotiation Advice Needed
Thread Starter
Heel & Toe
Joined: May 2007
Posts: 16
Likes: 1
Negotiation Advice Needed
I'm getting ready to pull the trigger on a non-Z51 C7 order, but am unsure how to handle my trade-in.
I've got an ultra-low mileage C6 3LT coupe in a desirable color combination. My state has a vicious sales tax (about 10%), so I really need to trade my car in if the numbers (C7 price and trade in allowance) come out right.
My question is, when should I hand my car over?
1. Do I turn it in when I sign the order (now)? That gives the dealer more time to sell my car and use my money, but that way the trade in value is nailed down right from the beginning. But what happens if their allocation turns out to be BS and I have to wait longer than expected for manufacture and delivery? My car is gone and I am at their mercy.
2. Should I turn it in when my order hits status 3000 and I know my C7 is in production?
3. Should I turn it in when I take delivery on the C7?
My concern is about getting jacked around on my trade in value if I hang on to it. After I've made the order deposit I'm committed.
I don't need my C6 for a daily driver as I have another vehicle.
I'd appreciate any input, Thanks in advance.
I've got an ultra-low mileage C6 3LT coupe in a desirable color combination. My state has a vicious sales tax (about 10%), so I really need to trade my car in if the numbers (C7 price and trade in allowance) come out right.
My question is, when should I hand my car over?
1. Do I turn it in when I sign the order (now)? That gives the dealer more time to sell my car and use my money, but that way the trade in value is nailed down right from the beginning. But what happens if their allocation turns out to be BS and I have to wait longer than expected for manufacture and delivery? My car is gone and I am at their mercy.
2. Should I turn it in when my order hits status 3000 and I know my C7 is in production?
3. Should I turn it in when I take delivery on the C7?
My concern is about getting jacked around on my trade in value if I hang on to it. After I've made the order deposit I'm committed.
I don't need my C6 for a daily driver as I have another vehicle.
I'd appreciate any input, Thanks in advance.
Melting Slicks
Joined: Jun 2009
Posts: 2,867
Likes: 66
From: . Wyoming .
Your dealer should be able to tell you what he'll give you for the C6 now, even if you turn it in on delivery. (There will be a mileage range for the price offered.)
If you are unsure in any way about the dealer, there are plenty of reputable forum dealers to work with.
If you are unsure in any way about the dealer, there are plenty of reputable forum dealers to work with.
Drifting
Joined: Oct 2009
Posts: 1,599
Likes: 22
From: Whittier CA
In general, dealerships will not generally offer you what you think your car is worth (IMHO), and I do not like selling my car privately. Having said that, I like to take my car to CARMAX (or some place similar) first for an appraisel. This gives you a little leverage and if the dealer is not willing to give you the price you want, you can sell the car to CARMAX. Keep in mind, CARMAX's offer is only good for seven days. After that the car will have to be re-appraised. To me, their appraisel is a good starting point. I have had good luck with CARMAX in the past and just had my current C6 appraised when I ordered my C7.
Race Director
Joined: May 2008
Posts: 10,742
Likes: 629
From: Manheim Pennsylvania
I did a pre delivery trade. I got an excellent price and with C6 values falling by the second I thought justified. (I have a C4 too, not Corvette starved) Now after 2 1/2 months and still at 1100, not so sure I did right. I will never do a pre delivery trade again, to much stress. I did check and everything is in order, allocation should be up soon.
Last edited by Larry/car; Jan 28, 2014 at 05:17 PM.
Racer
Joined: Sep 2000
Posts: 455
Likes: 7
From: Peoria AZ
Larry/car: DO NOT SELL YOUR CAR TO YOUR DEALER UNTIL YOU ARE AT EVENT 2000! When GM accepts your order (and knows that you exist) is the time sell. Event 3000 should be a week or so away as should a TPW. Until your order and an allocation match up at your dealer, you have no "REAL DEAL/ORDER".
Pro
Joined: Oct 2013
Posts: 532
Likes: 1
From: PENSACOLA
Race Director
Joined: Jul 2007
Posts: 10,961
Likes: 2,643
From: Texas Hill Country
See if they will consign it for you if you really want to give it to them. Otherwise, try to sell it while you wait for your C7 and get more than their offered trade value (plus associated tax credit). If you can't, trade it when your new car comes in.
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Safety Car
Joined: Dec 2007
Posts: 4,070
Likes: 162
From: Coralville Iowa
Trade it now and take the value - HOWEVER - get everything in writing from the dealer. If you have ANY questions put it in writing. Sure - you might have to wait a while but at this point you are investing in the future. With your tax rate (and assuming you pay tax only on the difference in price) you want to lock that in. I traded my C6 in June and didn't take delivery of my C7 until December 28. Missed the entire season of driving with a Vette - but I've got a C7 in the garage now!
Race Director
Joined: Sep 2013
Posts: 11,825
Likes: 2,477
From: Ft Lauderdale
Tech Contributor
Before I went with a forum dealer, my local dealer was honest and told me he would give me X for my camaro today. He then wanted to re-eval the trade dollar amt every 90 days until I traded at time of delivery. I thought that was fair...not his numbers, but the procedure.
Never give up your car when you paper the deal, only when you take delivery....In the biz it's called "de-horsing" a customer, so it makes it harder for him to back out later as they have sold it...
Never give up your car when you paper the deal, only when you take delivery....In the biz it's called "de-horsing" a customer, so it makes it harder for him to back out later as they have sold it...
Safety Car
Joined: Dec 2007
Posts: 4,070
Likes: 162
From: Coralville Iowa
I heard the term "de-horsing" used previously but it really depends on the patience of the customer and the trust in the relationship. I increase my "trust" by having good commitments documented in writing. Didn't lose much sleep over the deal while I was waiting and pretty sure I got a decent trade on my C6.
Racer
Joined: Nov 2013
Posts: 271
Likes: 38
Instead, I listed it on autotrader.com. Had a few inquiries, but didn't expect much to happen through the Christmas holidays.
Had a nice fellow drive from Galveston to Dallas to look at it; he flew back a couple of days later and I picked him up at the airport. He handed me a check for $25,900, which completely offset the $4,000 sales tax.
I went by the dealer several weeks ago and they had an identical model with comparable mileage and a window price of $32,000. They already made a bundle on the C7 (at MSRP), I didn't see any reason to let them make an extra 10 grand off my trade in.
Racer
Joined: Nov 2013
Posts: 450
Likes: 4
From: Springfield PA
I sold my car on my own but had my dealer do the deal as a courtesy trade so I got my price and still get the tax credit. Ask your dealer if he will do the same for you. I listed it because I had time and figured the worst case would be a direct trade in. My dealer charged 525.00 to do the deal.
Previous poster should have ran it thru the dealer then he would have gotten the tax credit instead of offsetting it.
Eric
Previous poster should have ran it thru the dealer then he would have gotten the tax credit instead of offsetting it.
Eric
Last edited by ENCT; Jan 28, 2014 at 09:16 PM.
Burning Brakes
Joined: Oct 2004
Posts: 752
Likes: 113
From: Charlotte NC
I had a 2007 VY LT3 with 36,000 miles on it. The dealer originally offered me $21k, then bumped it another thou.
Instead, I listed it on autotrader.com. Had a few inquiries, but didn't expect much to happen through the Christmas holidays.
Had a nice fellow drive from Galveston to Dallas to look at it; he flew back a couple of days later and I picked him up at the airport. He handed me a check for $25,900, which completely offset the $4,000 sales tax.
I went by the dealer several weeks ago and they had an identical model with comparable mileage and a window price of $32,000. They already made a bundle on the C7 (at MSRP), I didn't see any reason to let them make an extra 10 grand off my trade in.
Instead, I listed it on autotrader.com. Had a few inquiries, but didn't expect much to happen through the Christmas holidays.
Had a nice fellow drive from Galveston to Dallas to look at it; he flew back a couple of days later and I picked him up at the airport. He handed me a check for $25,900, which completely offset the $4,000 sales tax.
I went by the dealer several weeks ago and they had an identical model with comparable mileage and a window price of $32,000. They already made a bundle on the C7 (at MSRP), I didn't see any reason to let them make an extra 10 grand off my trade in.
I am in a similar position, I don't have the time or desire to try and sell my current car. I think your option 2 or 3 is good, I don't like option 1 either.
Since you are looking for a non Z51 car, have you searched inventory in your state? That would eliminate the wait time on an ordered vehicle.
Good luck
Racer
Joined: Sep 2007
Posts: 316
Likes: 2
From: New Iberia LA
Larry/car: DO NOT SELL YOUR CAR TO YOUR DEALER UNTIL YOU ARE AT EVENT 2000! When GM accepts your order (and knows that you exist) is the time sell. Event 3000 should be a week or so away as should a TPW. Until your order and an allocation match up at your dealer, you have no "REAL DEAL/ORDER".
