Trading UP
Thread Starter
Racer
Joined: Jan 2014
Posts: 303
Likes: 25
From: Melbourne, Florida
Trading UP
I've got a beautiful 2015 Shark Grey with dual blk carbon stripe I want to trade up for a different color. 3,500 miles. Want to trade in or sell and order the 2016. Can anyone give me some info on trade prices as to what I may expect from a Dealer. My sticker was 69K. Exactly one year old now.
Instructor
Joined: Nov 2015
Posts: 121
Likes: 11
I've got a beautiful 2015 Shark Grey with dual blk carbon stripe I want to trade up for a different color. 3,500 miles. Want to trade in or sell and order the 2016. Can anyone give me some info on trade prices as to what I may expect from a Dealer. My sticker was 69K. Exactly one year old now.
Safety Car
Joined: Oct 2014
Posts: 3,543
Likes: 854
The monetary spread from what you get for the 2015 and what you pay for the 2016 may be quite shocking.
Suggest only a private sale or keep the 2015 C7 for while. The trade-in price may be shocking. If you have deep pockets than the $$ spread won't matter.
Suggest only a private sale or keep the 2015 C7 for while. The trade-in price may be shocking. If you have deep pockets than the $$ spread won't matter.
Instructor
Joined: Jul 2006
Posts: 112
Likes: 8
From: Kansas City MO
Not a bad deal. If you have a GM card, I would trade every 12 months
Mid 50's really isn't that bad when you consider a sticker of 69k hopefully you didn't pay more than 62k. If you get mid 50's, that is 7000 for 12 months.
If you consider, you won't be buying new tires, you won't have any brake cost, you get a new warranty. (no need to pay for an extended warranty- more savings) That works out to be $584 a month depreciation. If you happen to have one of the old GM cards then you could have received another 3000 off making your depreciation 4000. At that point you are 334 a month. Hard to look at that as a bad deal driving a new 69k car for one year and not being out any $ for tires.
Bottom line, hope you have a GM CC taking advantage of the $3000 and also hope you bought it for around 9.5-10% below sticker.
You would come out a lot better if you sell outright and buy with no trade. If you don't have a GM card, at least find someone who does who will sell you use of points at 50%
If you consider, you won't be buying new tires, you won't have any brake cost, you get a new warranty. (no need to pay for an extended warranty- more savings) That works out to be $584 a month depreciation. If you happen to have one of the old GM cards then you could have received another 3000 off making your depreciation 4000. At that point you are 334 a month. Hard to look at that as a bad deal driving a new 69k car for one year and not being out any $ for tires.
Bottom line, hope you have a GM CC taking advantage of the $3000 and also hope you bought it for around 9.5-10% below sticker.
You would come out a lot better if you sell outright and buy with no trade. If you don't have a GM card, at least find someone who does who will sell you use of points at 50%
Last edited by douginkc; Nov 15, 2015 at 10:35 PM.
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Safety Car
Joined: Oct 2012
Posts: 4,788
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From: Austin Texas
St. Jude Donor '15
Do a private sale, a bit of a hassle and a little time consuming, but you will come out way ahead dollar wise.
The dealer is going to offer you wholesale for your car,so you are more than likely looking at a $16,000 loss for the one year old car. Unless you can get the '16 with a deep discount you will get a less than favorable deal on the trade.
The dealer is going to offer you wholesale for your car,so you are more than likely looking at a $16,000 loss for the one year old car. Unless you can get the '16 with a deep discount you will get a less than favorable deal on the trade.
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A dealer is not going to give you what you can sell the car privately for and if you've got the time and patience, sell the car yourself.
Heel & Toe
Joined: Sep 2015
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Just remember on a car this expensive a trade makes more sense than one may think at a cursory glance. In Indiana if you trade that care in you do not have to pay sales tax on the amount the trade was worth. On these 50K dollar cars that is over $3500 in tax savings (Indiana sales tax of 7%).
I know it is still better to sell to an individual but it may not hurt as bad as you might expect.
I know it is still better to sell to an individual but it may not hurt as bad as you might expect.
Safety Car
Joined: Jan 2001
Posts: 4,468
Likes: 147
From: Conway, SC
I think we need to know just what options, etc. your 2015 has before anyone can give you an idea what it is worth. Coupe? Convertible? Z51? Stick? Auto? 3LT? 2LT?
Elaine
Elaine
Last edited by GS Diva; Nov 16, 2015 at 09:24 AM.
Race Director
Joined: May 2008
Posts: 10,742
Likes: 629
From: Manheim Pennsylvania
Do a search at Kelly Blue Book or another price guide. That will give you a good idea what to expect. Another tip, be cautious of option selections = many give no return on your investment and just drive the price up. Example: colored brake calipers, stripes, premium colors (over two thousand savings just with these alone). Not to forget wheels, virtually no trade allowance.
Last edited by Larry/car; Nov 16, 2015 at 06:49 AM.
Team Owner
Joined: Dec 2003
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From: When all is said and done... there is a hell of a lot more said than done. Riverside,Texas
St. Jude Donor '05 thru '26
Just remember on a car this expensive a trade makes more sense than one may think at a cursory glance. In Indiana if you trade that care in you do not have to pay sales tax on the amount the trade was worth. On these 50K dollar cars that is over $3500 in tax savings (Indiana sales tax of 7%).
I know it is still better to sell to an individual but it may not hurt as bad as you might expect.
I know it is still better to sell to an individual but it may not hurt as bad as you might expect.
Le Mans Master
Joined: Dec 2012
Posts: 6,442
Likes: 2,535
From: New Jersey
I've got a beautiful 2015 Shark Grey with dual blk carbon stripe I want to trade up for a different color. 3,500 miles. Want to trade in or sell and order the 2016. Can anyone give me some info on trade prices as to what I may expect from a Dealer. My sticker was 69K. Exactly one year old now.
Le Mans Master
Joined: Sep 2012
Posts: 7,146
Likes: 1,940
From: Hagerstown MD
St. Jude Donor '15-'16,'18
Try to obtain the latest auction prices for a similar car. This is what your dealer will give you as this is the cash wholesale value of your car. They may try to play games and give you a higher trade value against full MSRP. You should be able to get about 6-7% off MSRP without a trade, at least at a high volume dealer. Auction prices, at least in the NE, are probably at their lowest values as we are now into the winter season in terms of the used car market. Good luck.
Drifting
Joined: Sep 2000
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From: Dallas TX
Safety Car
Joined: Jan 2001
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From: Conway, SC
Elaine
Safety Car
Joined: Mar 2014
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From: Kilmarnock Va
I would probably have it professionally painted unless it would hurt the value.
And I went and read it again.You said you wanted to trade up for A different color
And I went and read it again.You said you wanted to trade up for A different color
Last edited by thrilled; Nov 16, 2015 at 06:19 PM.