Automotive

Trade in question

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  • Jul 17th, 2019 6:12 pm
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[OP]
Jr. Member
Oct 27, 2018
115 posts
48 upvotes

Trade in question

Hi RFD,

I have a general question. I have a Honda Accord 09 that broke down with high mileage. I’m deciding to buy a new car (a 3 series BMW) since the estimated cost will exceed half of the resale value. You cannot drive it without getting fixed.

When you buy the new car, can I trade in the Accord and get something out of it? Or it’s like the dealer will say that they can take it out of my hands but there is no trade in value? I’ve never dealt with this situation. I want to draw on some of your experience. Thx in advance.
11 replies
Member
Sep 25, 2018
495 posts
962 upvotes
Why don't you call a dealer and see what they offer?
Deal Fanatic
User avatar
Sep 1, 2005
8474 posts
3630 upvotes
Markham
'09 Honda Accord is not an old car...10 yrs old. What is "high mileage"? Depending on the repair, there is still value there to the right person - handy person who can get used parts possibly and fix.

If you trade it in...if it isn't working, the dealer won't give you much at all (if they give you a few hundred you're likely lucky) as they don't want it and seeing as you're spending a lot of $$$ for new car, they're betting on you not wanting to work selling it.

Best option:
Get trade in value from dealer - they'll offer you little to nothing IMO.
Sell it used on Kijiji or AutoTrader. But this is not easy work as it's not operable and you have to entertain low ballers/tire kickers.
Alternative is to donate it and they'll give you donation receipt for fair value - note fair value might be lot more than real non-operable value but they don't care. They just type in year/make/model and give you a number...they don't start the car to my knowledge.

Forgot to add....if you don't do a decent job negotiating (ie you're paying more than you should...the sales associate might give you a better trade in value as they don't want to lose a sale and they only really care about NET).
We're all bozos on the bus until we find a way to express ourselves...

Failure is always an option...just not the preferred one!
[OP]
Jr. Member
Oct 27, 2018
115 posts
48 upvotes
AlicW93740 wrote: Why don't you call a dealer and see what they offer?
Because I want to assess my options before calling the dealer.
[OP]
Jr. Member
Oct 27, 2018
115 posts
48 upvotes
gr8dlr wrote: '09 Honda Accord is not an old car...10 yrs old. What is "high mileage"? Depending on the repair, there is still value there to the right person - handy person who can get used parts possibly and fix.

If you trade it in...if it isn't working, the dealer won't give you much at all (if they give you a few hundred you're likely lucky) as they don't want it and seeing as you're spending a lot of $$$ for new car, they're betting on you not wanting to work selling it.

Best option:
Get trade in value from dealer - they'll offer you little to nothing IMO.
Sell it used on Kijiji or AutoTrader. But this is not easy work as it's not operable and you have to entertain low ballers/tire kickers.
Alternative is to donate it and they'll give you donation receipt for fair value - note fair value might be lot more than real non-operable value but they don't care. They just type in year/make/model and give you a number...they don't start the car to my knowledge.

Forgot to add....if you don't do a decent job negotiating (ie you're paying more than you should...the sales associate might give you a better trade in value as they don't want to lose a sale and they only really care about NET).
Thanks! What you wrote is very insightful. I’m planning to be aggressive with negotiations, but I’ll probably will lose everything with the trade in.
Deal Fanatic
Nov 1, 2006
7531 posts
1168 upvotes
Toronto
Dealers want to sell cars for as much as they can get and trade-ins are just a means to an end. They usually don't want the hassle of a trade-in that can't be driven to their lot but might be able to help you somehow. Maybe they've got an arrangement to handle trade-ins like yours. You won't know until you ask.

There's almost always somebody out there that will buy your car. The question is how much are they willing to pay for it and how much do you want for it? The alternative is to scrap it through a program like Retire Your Ride.
Deal Guru
User avatar
Oct 6, 2010
12810 posts
7056 upvotes
Toronto
s7yl3x wrote: Hi RFD,

I have a general question. I have a Honda Accord 09 that broke down with high mileage. I’m deciding to buy a new car (a 3 series BMW) since the estimated cost will exceed half of the resale value. You cannot drive it without getting fixed.

When you buy the new car, can I trade in the Accord and get something out of it? Or it’s like the dealer will say that they can take it out of my hands but there is no trade in value? I’ve never dealt with this situation. I want to draw on some of your experience. Thx in advance.
They will entertain you with say a few hundred dollars just simply to get the vehicle, repair and sell. So yes, a dealer will still offer you something for it.
DYI difficulty scale:
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Deal Addict
User avatar
Jul 26, 2007
4543 posts
2148 upvotes
Toronto
s7yl3x wrote: Because I want to assess my options before calling the dealer.
You won't know until you try. There are many BMW dealers, pick a random and go see how much they are going to give you for your trade-in. While you are there use your aggressive negotiation skill to get your new BMW for at least 6% off plus all factory rebates.
[OP]
Jr. Member
Oct 27, 2018
115 posts
48 upvotes
peteryorkuca wrote: You won't know until you try. There are many BMW dealers, pick a random and go see how much they are going to give you for your trade-in. While you are there use your aggressive negotiation skill to get your new BMW for at least 6% off plus all factory rebates.
Thx. It’s a good point. I called one and the person wouldn’t give any information unless he inspects the car. I’m not going to tow to the dealership. I will try another one.
Deal Guru
User avatar
Mar 23, 2008
10134 posts
6435 upvotes
Edmonton
s7yl3x wrote: Thx. It’s a good point. I called one and the person wouldn’t give any information unless he inspects the car. I’m not going to tow to the dealership. I will try another one.
I would guess you'll get a similar response from many dealers. How can they tell it's worth without looking at it, and without knowing what repairs need to happen? Plus dealers want to get you in the showroom so they can sell you a car.

Given it's age and state, they'll likely just be sending it to auction anyway, so it's value to them will be limited.

C
Deal Addict
Nov 14, 2001
1105 posts
142 upvotes
Mississauga
I doubt you will get anything from them for a car in that condition. My friend had a 2013 X3 with busted transmission which was worth around 15 on the market. Dealer offered 4K.

Better off selling as is on Kijiji/Autotrader.
Deal Addict
Apr 6, 2008
1807 posts
1142 upvotes
s7yl3x wrote: Hi RFD,

I have a general question. I have a Honda Accord 09 that broke down with high mileage. I’m deciding to buy a new car (a 3 series BMW) since the estimated cost will exceed half of the resale value. You cannot drive it without getting fixed.

When you buy the new car, can I trade in the Accord and get something out of it? Or it’s like the dealer will say that they can take it out of my hands but there is no trade in value? I’ve never dealt with this situation. I want to draw on some of your experience. Thx in advance.
What is wrong with the Accord? An 09 is still fairly new. There are lots of handy people around willing to fix it themselves and have a decent car. What needs repaired and how much did they quote? To a dealer, your car is worth like $500, it's more of a hassle to them then anything else. But to a cheap Kijiji buyer, you could probably get a few grand depending on condition.

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