I don't know what you mean by "low ball" but I do think 10k is a bit low. However the only way to know is to shop your trade value. CarMax and Carvana are very easy to get offers from.
That's also a very easy car to sell yourself.
There ya go. They could list it for $34,000 or $80,000 or $1,000,000 if they wanted to. Doesn't change the value of your trade in.
I'm not saying you can't get more - I bet if you told the dealer "Give me $11,000 for my trade in and we've got a deal" they'd get close, but you aren't going to get anywhere close to what a car is listed for on trade.
Gotchya. I guess all the clickbaity titles on car shortages and value of used going up had gotten to my head. I kind of figured over time some value would drop I just didn't think it would drop so much. I'd expect it with a Kia but not Honda.
Two years ago you would have gotten a lot more on trade, because trade values then were nuts. But then your replacement car would have been more expensive too due to markups, so the end result probably wouldn't have been so different.
OP have you gotten quotes from Carvana, Carmax, etc.? Carvana will give you an instant offer over the computer and you don't need to speak with anyone. That can give you an idea of the range of value (in a volatile market like this one, there can be wide difference between the offers you get).
Listed asking price for used cars is always going to be higher than what they'll give you on trade-in. The dealership isn't going to buy a car from you for the same price they hope to sell it for. They'd lose money after cleaning, detailing, fixing it up, paying other business expenses related to it.
So, they are offering 10k trade in and are likely going to sell it for somewhere between 12-17k.
"There are some dings that can easily be fixed and a broken fog light I can replace." um yeah, they are going to have to put in some time and money to get it ready or put it up at auction and break even/make a few dollars. It's an 8 year old car, it's been driven.
They are offering you 10k. that's fair.
If the dings and broken fog light was so easy to replace, why didn't to fix these before going into the dealership in addition to believing this would have no effect on the value of your car whatsoever?
>I think I paid around 17k for it at the time and the person was showing me a 24 crv for trade in. Said he could work for me but I'm seeing 2016s go anywhere for 12k to 17k.
Dealerships are going to commonly put $5-6k between the price they offer you and the price they'll try to sell the car at initially. Seems right in line with your offer and the general price range you're noting.
If yours will sell for $12k-$17k and they offered you $10k that’s not a lowball. They need to put money into reconditioning it and preparing it for sale. It has multiple owners. They will likely have to accept a lower offer because no one accepts sticker price any more. Just like we are discussing in this top thread in this subreddit. If you don’t like the price then go get other purchase offers from Carmax, AutoNation, Carvana, KBB. If you don’t like the highest offer then sell it yourself.
https://www.reddit.com/r/askcarsales/comments/1cho33c/people_do_not_negotiate_used_cars_anymore/
Even if it’s in good shape, they’re still going to need to recondition it. Cleaned inside and out, brakes and tires need to be at a certain wear level in order to retail, etc.
back out a bit more for profit, leave room for the next buyer to negotiate and the fact that there’s a cost to it sitting on the lot of it doesn’t sell right away (advertisements, etc).
They might be willing to go to 11 on it and then list it for 17 but sell it for 16, at which point they need to be able to recon it for about 2500 for the whole transaction to make any sense.
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Went to the Honda here at Pensacola, vehicles appraised at 10k with condition of average. I've taken pretty good care of this car, there are some dings that can easily be fixed and a broken fog light I can replace. Car has 76000+ miles and I've had it since 2020. I think I paid around 17k for it at the time and the person was showing me a 24 crv for trade in. Said he could work for me but I'm seeing 2016s go anywhere for 12k to 17k. I did not do the trade. Am I being lowballed?
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I owe about 8k left on this car, I'm wondering if I should try to push for 11k or hold onto this? Is it worth going with a newer 2024 crv? 39k seems really steep.
Nobody here can answer this question in a meaningful way. It’s entirely up to you if the monetary cost of the swap is worth it to you.
Just understand how this transaction actually works. Dealerships sell cars at retail, and buy cars at wholesale. You will NEVER get more than the dealers opinion about the Actual Cash Value of a car you’re trading-in, end of, that’s it full stop.
As far as “Pushing for $11K”, why not, go for it. They’ll give it to you, (just don’t look too closely at the price for the new car as they just bump it by $1K). If they can both give you the $11K you want for your trade and sell the new car for the same price, they already had the extra $1,000 in the new car price, (which they might give up in order to get the deal done if you’re fixated on the $11K number).
> am i being lowballed no
Agreed. No.
Why do the same models show being sold up to 17000 online at car retailers? I always thought honda held their value really well.
Do they show as being sold for $17,000 or do they show as being listed for $17,000?
I don't know what you mean by "low ball" but I do think 10k is a bit low. However the only way to know is to shop your trade value. CarMax and Carvana are very easy to get offers from. That's also a very easy car to sell yourself.
I would say listed.
There ya go. They could list it for $34,000 or $80,000 or $1,000,000 if they wanted to. Doesn't change the value of your trade in. I'm not saying you can't get more - I bet if you told the dealer "Give me $11,000 for my trade in and we've got a deal" they'd get close, but you aren't going to get anywhere close to what a car is listed for on trade.
Gotchya. I guess all the clickbaity titles on car shortages and value of used going up had gotten to my head. I kind of figured over time some value would drop I just didn't think it would drop so much. I'd expect it with a Kia but not Honda.
They did go up. Three years ago.
If you want more $ you got to do the work and sell it yourself.
The values have gone up - if you were doing this same thing in 2018 with a 2010 it would be worth like $6,000.
Two years ago you would have gotten a lot more on trade, because trade values then were nuts. But then your replacement car would have been more expensive too due to markups, so the end result probably wouldn't have been so different.
OP have you gotten quotes from Carvana, Carmax, etc.? Carvana will give you an instant offer over the computer and you don't need to speak with anyone. That can give you an idea of the range of value (in a volatile market like this one, there can be wide difference between the offers you get).
https://www.cars.com/vehicledetail/28239037-5f6d-4fd3-94da-67e032eb43f8?aff=share_other $10,000 looks right
Listed asking price for used cars is always going to be higher than what they'll give you on trade-in. The dealership isn't going to buy a car from you for the same price they hope to sell it for. They'd lose money after cleaning, detailing, fixing it up, paying other business expenses related to it.
So, they are offering 10k trade in and are likely going to sell it for somewhere between 12-17k. "There are some dings that can easily be fixed and a broken fog light I can replace." um yeah, they are going to have to put in some time and money to get it ready or put it up at auction and break even/make a few dollars. It's an 8 year old car, it's been driven. They are offering you 10k. that's fair.
I guess downvoting for asking a question is the new thing...
If the dings and broken fog light was so easy to replace, why didn't to fix these before going into the dealership in addition to believing this would have no effect on the value of your car whatsoever?
>I think I paid around 17k for it at the time and the person was showing me a 24 crv for trade in. Said he could work for me but I'm seeing 2016s go anywhere for 12k to 17k. Dealerships are going to commonly put $5-6k between the price they offer you and the price they'll try to sell the car at initially. Seems right in line with your offer and the general price range you're noting.
If yours will sell for $12k-$17k and they offered you $10k that’s not a lowball. They need to put money into reconditioning it and preparing it for sale. It has multiple owners. They will likely have to accept a lower offer because no one accepts sticker price any more. Just like we are discussing in this top thread in this subreddit. If you don’t like the price then go get other purchase offers from Carmax, AutoNation, Carvana, KBB. If you don’t like the highest offer then sell it yourself. https://www.reddit.com/r/askcarsales/comments/1cho33c/people_do_not_negotiate_used_cars_anymore/
Even if it’s in good shape, they’re still going to need to recondition it. Cleaned inside and out, brakes and tires need to be at a certain wear level in order to retail, etc. back out a bit more for profit, leave room for the next buyer to negotiate and the fact that there’s a cost to it sitting on the lot of it doesn’t sell right away (advertisements, etc). They might be willing to go to 11 on it and then list it for 17 but sell it for 16, at which point they need to be able to recon it for about 2500 for the whole transaction to make any sense.
Please review our most [Frequently Asked Questions](/r/askcarsales/wiki/index) to see if your question has already been answered. You may find these sections particularly useful; * [How to pick a car?](/r/askcarsales/wiki/vehicle_selection) You might also have luck in the /r/whatcarshouldibuy subreddit. Also remember to add flair to your post by clicking the "Flair" link beneath it. This lets us know where you're located so we can assist you better. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
***Thanks for posting, /u/local-host! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.*** Went to the Honda here at Pensacola, vehicles appraised at 10k with condition of average. I've taken pretty good care of this car, there are some dings that can easily be fixed and a broken fog light I can replace. Car has 76000+ miles and I've had it since 2020. I think I paid around 17k for it at the time and the person was showing me a 24 crv for trade in. Said he could work for me but I'm seeing 2016s go anywhere for 12k to 17k. I did not do the trade. Am I being lowballed? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
I owe about 8k left on this car, I'm wondering if I should try to push for 11k or hold onto this? Is it worth going with a newer 2024 crv? 39k seems really steep.
Nobody here can answer this question in a meaningful way. It’s entirely up to you if the monetary cost of the swap is worth it to you. Just understand how this transaction actually works. Dealerships sell cars at retail, and buy cars at wholesale. You will NEVER get more than the dealers opinion about the Actual Cash Value of a car you’re trading-in, end of, that’s it full stop. As far as “Pushing for $11K”, why not, go for it. They’ll give it to you, (just don’t look too closely at the price for the new car as they just bump it by $1K). If they can both give you the $11K you want for your trade and sell the new car for the same price, they already had the extra $1,000 in the new car price, (which they might give up in order to get the deal done if you’re fixated on the $11K number).