How do you make sure you're getting a fair deal on your trade in with a dealership?

DaveTheDude wrote: ↑ Rather then negotiate on the trade in, negotiate on the 'out the door price'. The amount you will write a cheque for after new car cost, fees, taxes less your trade in.

If the dealer senses a little higher trade in value will close the deal you will not get much discount off the new car price. It is a game they play making you think you got a good deal when in reality you did not. Go to a few dealers and get their best out the door price. My experience has been the dealer that offered me the highest trade in value was not the best deal.

mr_raider wrote: ↑ Sell it privately and deal with the inconvenience. Or trade it in and take a haircut to save your hassle. The choice is yours.

peteryorkuca wrote: ↑ Only scam with dealer trade-in is they will low-ball you like $1000 for your old civic. Best to drive around to all the dealers in town and sell to the guy who gave you the best deal.

Example, MB offered $5k more for my junker then Nissan. I was real insulted when nissan did that even when I was a repeated customer.

Ecsta wrote: ↑ It's not a scam they're just trying to make as much profit as possible (as they have to turn around and sell your car). Just like how you're not scamming them by negotiating a lower price on a new car.

Look on autotrader for what private owners are getting for similar condition/mileage to know ballpark what its worth. For example, just traded in my sisters old truck.. Autotrader had private sales for about 10,000-13,000 depending on condition and mileage. Hers was not great condition and high mileage so we figured we could get about 10 used privately. Dealership offered 8.5 which was decent so we took it. You also have to factor in you only pay tax on the difference if you're buying new so that made it close enough. If they had offered 5 we would have sold it ourselves. Selling privately you'll get more money but its a PITA in my experiences.

If you're buying a new car they'll usually give you a better trade-in value because they want to make the sale. So just go to all the different Honda dealerships and see who treats you the best. Compare total out the door price as they sometimes make it confusing with what they discount.

Xtrema wrote: ↑ Educate yourself on what your car is worth. Autotrader/Kijiji would give you an idea on private sale.

VMR Canada and Canadian Black Book will give you an idea of trade-in value.

You have a 9 year old Civic, if everything in top shape without accident, I think it will probably worth $3-$4K private sale but I expect you will get a very low ball $1K or $2K. It's too old for dealer to resale so they won't give you much as it will just end up with a wholesaler anyway.

As for bargaining, you are looking at $1-2K margin on the new Civic + financing/leasing kick back. Unhaggle will give you invoice and incentives on the new car. You go for best possible price 1st before mentioning trade in. If you say trade-in upfront, they will give you less discount and try to hide it in margin.

IMO, you won't get much trading in something that old. You will get at least $1K+ more if you sell private vs trade in. It's up to you to decide if that hassle is worth it.

100Pacer wrote: ↑ When someone asks if it’s a “scam” I read that as someone basically saying I’m too lazy or unwilling to put in the work you tell me whether I should move on the deal or not? Do your research, invest the time to see what selling privately would yield vs trading in as is while receiving tax back on top. The dealers make more on used inventory so they’re always eager for stock; however it’s a cost/benefit to you ultimately.

binarynumber wrote: ↑ Is it wrong in being lazy & asking around? It's my first car & I don't have much experience with the market.

100Pacer wrote: ↑ Don’t take it personally. When you said personal reasons do those outweigh the positive equity you mentioned? How many KMs on your 2010?

peteryorkuca wrote: ↑ Only scam with dealer trade-in is they will low-ball you like $1000 for your old civic. Best to drive around to all the dealers in town and sell to the guy who gave you the best deal.

Example, MB offered $5k more for my junker then Nissan. I was real insulted when nissan did that even when I was a repeated customer.

White Comet wrote: ↑ never done this before, but dealer buys your car without you buying theirs? You just don't get the tax savings correct?

binarynumber wrote: ↑

I am bit familiar about the price actually so I am expecting around 5k on trade in.