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Trading in the cruiser

 
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  #1 (permalink)  
Old 14 Feb 2010, 12:53 pm
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Join Date: Nov 2009
Posts: 18
Default Trading in the cruiser

I am wanting to trade in our pt cruiser, for something, well, more reliable.

It has a power steering problem, when its severely cold outside, it starts leaking, groaning, moaning, noises it shouldnt make.

and overall she is just not happy with it.

So I am on here to figure what I am looking at as far as the going rates for owner to owner sales, see what the dealer is gonna try to do.

Here are the specs.

2004
Purple
power everything
automatic
no sunroof
spotless interior
clear coat has seen better days, fairly covered in swirl marks.
no fogs
84k miles
new battery
new front brakes
tires have decent tread
recent tune up


I am thinking its worth at least $4000, she owes a little over $2500, and I know/hope they will at least give us that much.

whats your opinions?
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Old 14 Feb 2010, 12:56 pm
Matt42's Avatar
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Join Date: Jun 2009
Location: Glendale, AZ
Posts: 496
Default Re: Trading in the cruiser

Before you go to the dealer, run it yourself at kbb.com. Go for the trade in value. Be prepared to be shocked.
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Old 14 Feb 2010, 01:08 pm
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Posts: 27,749
Default Re: Trading in the cruiser

Shock is right. Here's Kelly Blue Book trade-in Value for your car:

Condition , Value

Excellent
$2,575
Good
$2,250
Fair
$1,725
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  #4 (permalink)  
Old 14 Feb 2010, 02:45 pm
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Join Date: Jan 2008
Location: I live in Edmonton AB Canada
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Default Re: Trading in the cruiser

Don't you just luv depreciation.....and how the dealers originally sold them for so much over cost and always tell you how good their cars hold their value
?
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Old 14 Feb 2010, 03:20 pm
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Join Date: Mar 2003
Location: Oregon.
Posts: 3,521
Default Re: Trading in the cruiser

Quote:
Originally Posted by CREWZIN View Post
Shock is right. Here's Kelly Blue Book trade-in Value for your car:

Condition , Value

Excellent
$2,575
Good
$2,250
Fair
$1,725
Yep and you are probably looking at a price that is less than Fair ($1725) because of the steering rack problem. It's not a cheap fix.
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  #6 (permalink)  
Old 22 Feb 2010, 01:46 pm
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Join Date: Feb 2010
Posts: 19
Default Re: Trading in the cruiser

You'd do better selling it straight to someone, dealers are rip-offs.
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Old 22 Feb 2010, 10:34 pm
William_F's Avatar
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Join Date: Aug 2009
Posts: 329
Default Re: Trading in the cruiser

I agree you're likely to get more in a private sale than as a trade in.

Paint swirls aren't that hard to fix. Meguiar's makes several products that will take care of the swirls if you're willing to put in a little time and some elbow grease. Or, you could hire a detailer to do it for you if you don't want to do it yourself.

Depending on the extent of the swirls and other paint imperfections, expect to spend $100-$200 if you hire someone. While you might not get that money back on the sales price, a car that looks clean and fresh inside and out will usually sell easier than one that looks like it has problems.

While I am not one to be dishonest, if the cold weather is the only time the steering gives you noticeable trouble, I would keep driving the car until it warms up outside. Then I'd detail or have it detailed and put it up for sale. Caveat et emptor
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Old 22 Feb 2010, 10:42 pm
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Join Date: Feb 2010
Posts: 19
Default Re: Trading in the cruiser

Also it depends on if the dealer goes by KBB or NADA....Or if you sell it to a separate party and they bring up the KBB price just bring up the NADA price.
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Old 23 Feb 2010, 02:35 am
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Smile Re: Trading in the cruiser

Hey their 04PurplePT,

Back when I had my Detail Shop, I worked one on one with a lot of Dealers, and over that time I became pretty well adapt to how they work with their used cars.

Usually anything older that three years, or with more than 30,000 - 38,000 miles would not make the grade for keeping as resalable on the lot. Since your PT is an 04, its already well beyond what the Dealer is looking for, and especially with the huge surplus of new vehicles still in abundance, most Dealerships are not going to have much of any interest in your car right now.

What most Dealerships will do is automatically start at $500.00 below low Blue Book, then knock off if the car needs to be cleaned up, and prepped for a wholesale auction where it will be sold to a smaller used car lot at high Blue Book, generally making a small profit of $1000.00 or better per vehicle.

If you are concerned about your power steering issue, and still wish to work with a Dealership, you could opt to just go in and work a deal to trade your PT in sight unseen. It will make no difference in trade in value at this point regardless if it had a bad power steering pump, blown transmission, or you name it, the price will still be the same.

However, Dealerships generally have a $3000.00 mark up on new inventory, and also have an additional couple thousand dollars in incentives, so they do have some flexibility when it comes to negotiations. They may give you $500 below bottom book, but take $1500.00 in incentives, and give you $3500.00 for your trade in. In the end, its just a play on numbers to make you think you are getting a good deal while still making the sale, and making their money for the Dealer at the same time.

Another little thing to watch out for is many Dealers I used to work with had this little trap in financing where if you let the Dealer search for financing trying to get you a good rate, they would quote you one price during the normal haggling back and forth, then once in finance signing documents they always ask you if you would like their extended warranty, and so on, if you decline, the interest might jump a point. Since you didn't know what the rate was exactly to start with, and are excited about buying the vehicle, or tired from haggling for a while, usually most people don't catch this, and the Dealer makes a bit of profit, and the finance guy gets a bonus. Its an unfortunate truth, but this kind of thing has been going on since the beginning of Dealerships, and its how they make enough money to cover the enormous overhead for those nice Showrooms, and inventory on the Lot.

With all that said, here is my best advice. I would start off by following William F's suggestion on doing a good Detail. You can either hire a Professional, or I have a full step by step guide listed in the Detail section of this Forum that will walk you through everything you need to know to do the job yourself. Its not hard, it just takes some time, patience, and elbow grease to get things looking near new, and usually you can do a very respectable job easily in a good weekend with a total cost of materials running less that $50.00. Next, I would look your vehicle over closely, and see if you have a number of small door dings, or scratches on your vehicle. This can also play a roll in the overall value even though they are small, people still have a good tendency to notice these issues, and think of them as a negative when looking at your vehicle. Most Dealerships use Mobile Services who specialize in cleaning up these issues at a minimal cost, and you can take advantage of these services as well. Their is a Service that specializes in Paintless Dent Removal where they come to your house and use small mirrors, and specialty tools to gently massage out small dents, and dings without damage to the paint. These Services usually take around an hour, and usually charge $100.00 - $150.00 for the whole vehicle. Same goes for scratches. A Service comes to you with a Computerized Paint Matching System, and Professional Air Brush Equipment and properly color match, prep, air brush out all scratches, clear, buff, glaze, and wax any imperfections, or problem areas over the entire vehicle for around $150.00 - $200.00.

What I would do depending on how quick you needed to make a deal, if you can wait long enough to sell your PT outright, I would Detail your PT, possibly have a Paintless Dent Removal Guy come out, or Air Brush Guy, if necessary to bring the car back up to a good presentable state first. By spending at most $400.00, you stand to gain easily $1000.00 or more in value when selling Private Party.

Once your Car is prepped, and ready to sell, and, Kelley Blue Book is calling Private Party prices going for around $4875.00. If you get even $3500 - $4000.00, you will be way ahead of where you would be by trading it in to a Dealer, and with the Vehicle looking clean, and in excellent condition, you should have little to no problem getting the higher cost.

As for the Power Steering Issue, I would make sure to top off the reservoir, and if it does not do it when warm, I would simply warm it up before showing it, and let it be. I know that may sound a bit harsh, but I would not put any more money into it than I had to to make it presentable to sell. If it were a continuous problem, that would be different, but a periodic problem I would not invest in as it will not get you any more back out of the Vehicle's sale.

Then I would highly suggest calling either your Bank you usually deal with, or calling around on your own to get your own financing in advance. This is really easy to do up front, you can in most circumstances get a way better deal with a much lower payment than any Dealer can get you, and you will know right where you stand as far as payment, and how much you can, or wish to put out for a Vehicle. Then you have cash on hand to work with, and are able to take full advantage of all incentives available on most all new vehicles, you know exactly how much money you have to work with to meet your payment, and you have the piece of mind knowing you don't have to worry about any Dealer Games because your financing is already done. All you have to do it pick out the Vehicle that's right for you, color, and options, and the rest is already done.

I apologize for the long post, but I wanted to give you the best honest advice I could offer to you to achive the best outcome.

If you have any questions, or need any more advice, please feel free to ask anytime, and I am always more than happy to help out whenever I can.

Go easy, best of luck on your sale, and I will catch ya later.

Candyman
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  #10 (permalink)  
Old 23 Feb 2010, 10:08 am
William_F's Avatar
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Join Date: Aug 2009
Posts: 329
Default Re: Trading in the cruiser

Quote:
Then I would highly suggest calling either your Bank you usually deal with, or calling around on your own to get your own financing in advance. This is really easy to do up front, you can in most circumstances get a way better deal with a much lower payment than any Dealer can get you, and you will know right where you stand as far as payment, and how much you can, or wish to put out for a Vehicle. Then you have cash on hand to work with, and are able to take full advantage of all incentives available on most all new vehicles, you know exactly how much money you have to work with to meet your payment, and you have the piece of mind knowing you don't have to worry about any Dealer Games because your financing is already done. All you have to do it pick out the Vehicle that's right for you, color, and options, and the rest is already done.
I second this. If you're not a member of a local credit union, try and find one. The deals on new and used cars are way better than what the big banks typically offer. The bank I've been doing business with a number of years wanted 16% and would only go 24 months on a used car loan in the amount I wanted (about $6K). We joined the local credit union and they got us in at 6% for 60 months, so my payments are right where I need them to be.

Also, don't be afraid to say NO and walk away from the table, especially if you 're coming in already financed. Leave your trade in out of the equation until you've negotiated your best deal on the new car. Dealers are known to give you a great price for trade in, but then they are more stubborn on the price of the new vehicle. If you are already at best price you can get, then throw the trade in into the mix, you'll get a better deal.

Good luck!
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