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Old 01-19-2016, 03:22 PM   #1
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Who set the trade-in values?

I am curious who it is that sets the trade in values for each unit.

I see some models lose 25-30% the first year, some (same brands) more than 50% , and it seems like it is all over the map.

Who is actually responsible for these numbers? Is it the banks, the manufacturers?
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Old 01-19-2016, 03:53 PM   #2
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NADA for one

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Old 01-19-2016, 04:48 PM   #3
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Quote:
Originally Posted by Oaklevel View Post
NADA for one

Yep, the dealers set the values.
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Old 01-19-2016, 05:00 PM   #4
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And trade-in values can be skewed by the price of the unit its traded for. One dealer may discount the new unit substantially and offer a much lower trade vs the dealer who gives a higher trade in allowance but doesn't discount the new unit. Some of the variation in trade-in value could just be how its written up. The same out the door price might have 2 very different trade-in values.


I car dealer I know told me he sometimes writes deals so that the selling price of the new vehicle is high NADA retail and he bumps up the value of the trade to offset that because it yields a higher "down payment" by the buyer in the bank's calculation when he is trying to get the deal financed.
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Old 01-19-2016, 05:08 PM   #5
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It also has a lot to do with market trends. If a particular model is a hot seller in the new and used market, you can generally get a little better trade in.
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Old 01-19-2016, 05:19 PM   #6
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Kind of depressing, I can see 30% but not over 50%.
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Old 01-19-2016, 05:30 PM   #7
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NADA protects their formula like its the Colonel's secret recipe.

I can tell you for a fact, one of our higher line units had a lower trade in value (per the NADA book) than the lower price unit after one year and its because they screwed up the numbers. They ended up fixing it in the next book....but they are not without their mistakes. Dealers typically know what a unit will get at auction and can normally catch that stuff, but not always.
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Old 01-19-2016, 06:20 PM   #8
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Basically the NADA the dealer uses is a rip off. They give you what it says its worth then turn around and sell your unit for 5 grand more. Later RJD
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Old 01-19-2016, 06:26 PM   #9
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Flippin numbers is all their doing!
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Old 01-19-2016, 06:36 PM   #10
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In the dealers defense, risk is expensive. They take on the risk of the unit not selling, they take the risk that it is not as nice as you say it is.

As with anything, sell it yourself and there are no worries, but if you want to trade it in...know that the next buyer will want it to be perfect and theres a good chance they have to put money into it to sell it. Also because you are not a dealer, if you sell it yourself whoever buys it will not want to pay you what its worth because they think they can get a "good deal" off you.

I'm not saying I agree with the system...just that it is the same way with cars too. In most cases they are not trying to rip anyone off...just cover their ices.
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