How old is a car that can still be traded in?

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flyingaway
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How old is a car that can still be traded in?

Post by flyingaway »

I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?

EDITED: I am very sorry. My car is 2010 Lexus RX350. I bought it in 2009, so it has $110,000 miles. I checked the price online and people sell similar cars for $10,000 to $8,000.
Last edited by flyingaway on Mon Sep 14, 2020 1:57 pm, edited 1 time in total.
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Re: How old is a car that can still be traded in?

Post by Chuck107 »

......
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Stinky
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Re: How old is a car that can still be traded in?

Post by Stinky »

In my experience, the dealer will take anything. Just maybe not a true antique or exotic car.

If he doesn’t want to keep it on his lot, he’ll wholesale it off.
Last edited by Stinky on Mon Sep 14, 2020 10:51 am, edited 1 time in total.
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Re: How old is a car that can still be traded in?

Post by sport »

A dealer can accept almost any car in trade. If it is too old to be put on their used car lot, they can just auction it off.
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Re: How old is a car that can still be traded in?

Post by sailaway »

Most dealers will accept anything, but after a certain age, it isn't worth it to them to try to resell it, so they will ship it to auction. Since they have no idea how much they will get for it, they will only offer whatever still allows them to make a profit on what they are selling to you.
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Re: How old is a car that can still be traded in?

Post by TheTimeLord »

Check KBB.com. Took some guesses and gave your car the benefit of the doubt and got a current trade-in of about $2,400, but that will vary by locale.
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Re: How old is a car that can still be traded in?

Post by FrugalInvestor »

You can get a trade-in value for nearly anything. What you don't know is how much of a discount on the price of the new vehicle you would have received without the trade-in. That is why it's best to negotiate your best possible deal without the trade and then ask for a value on the trade. Then you'll know if it's best to trade or sell the used car to private buyer (which will most often net you more).
Last edited by FrugalInvestor on Mon Sep 14, 2020 10:54 am, edited 1 time in total.
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Re: How old is a car that can still be traded in?

Post by whodidntante »

They'll take any car as long as they can get it for basically no money, perhaps convincing you that you got money with a confusing deal.

You get maximum cheese for your hooptie if you sell it to a private party. And you may meet some interesting people. Plus, if you're an American you can't go anywhere or do anything so it gives you something profitable to do. :happy
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Re: How old is a car that can still be traded in?

Post by bloom2708 »

It depends on many factors. How you value your time and how much you value an extra $1,000 or $2,000 perhaps.

The dealer will certainly take it on trade. Perhaps offering a token $1,500 as an example.

That same vehicle may sell for $3k private party. Especially clean, well cared for, lower mileage for their age cars sell well.

You may determine that it is not worth the time to get an extra $1,500 to take a few photos, post on a site and then show to individuals interested.

It may also be an opportunity to donate it or pass it down/along to someone who needs a car. Many ways to proceed. I wouldn't worry about it until 2 years down the road. You can increase the value by doing routine maintenance and fixing small issues and large issues as they arise.
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Re: How old is a car that can still be traded in?

Post by illumination »

They'll accept almost any car, but where you really get a terrible trade in value is when the dealer knows it's something they can's sell on their own lot and will have to take to a wholesale auction.

A 20 year old car should be sold yourself, almost no new car dealership will retail it on their own lot. It's worth the trouble to sell yourself, one owner private party sales without an accident history are very desirable. If it's priced right, the first person that sees it will probably buy it.
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Re: How old is a car that can still be traded in?

Post by arcticpineapplecorp. »

typed in "drag it in, tow it in, trade in" and this is what I found:
https://www.google.com/search?client=fi ... C+trade+in

you can also try a search for "push, pull, drag, tow" to get an idea.
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Re: How old is a car that can still be traded in?

Post by alfaspider »

You can trade in anything, but older that a certain age you won’t get much. The dealer will send those cars straight to auction because franchise dealers typically only deal in late model used cars, so they won’t pay top dollar or anywhere close. It’s usually better to sell cars older than about 10 years private party.
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Re: How old is a car that can still be traded in?

Post by Jack FFR1846 »

Dealers often will take absolutely anything of value. When I was sitting in the dealer's business office, while my son was buying his used S2000, I was looking through the things the dealer had for sale in the lot. Besides all the normal cars, including a 78 Corvette pace car and stock 72 Corvette, they had several skid steers, a fork lift, several cargo and equipment trailers and a backhoe. In front, he had several boats. The location of this dealer is also only about 3 miles from the scrap yard where I sell scrap steel, so I know that if I came in with a crushed car worth $25 in scrap steel, they'd give me something for it.
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Re: How old is a car that can still be traded in?

Post by JoeRetire »

flyingaway wrote: Mon Sep 14, 2020 10:45 amI wonder how old is a car that can still be accepted by the dealer for a trade in?
Dealers will take anything as a trade in.

That doesn't mean you would get your best deal that way. Usually, a private sale will result in more money for you than a trade in.
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Re: How old is a car that can still be traded in?

Post by Artful Dodger »

I think 10-15 years ago it was pretty common for car dealers (not used car lots) to wholesale or send to auction cars with more than 100K miles. Now, many will take high mile trade-ins and put them in their bargain area. I've seen 2003 Hondas with 250K miles and similar cars listed for $5K.
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Re: How old is a car that can still be traded in?

Post by runner3081 »

On an older car, you would be leaving too much money on the table by trading it in. They will give you wholesale and dump it off to Manheim, etc.
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Re: How old is a car that can still be traded in?

Post by jpelder »

As others have said, they'll make an offer on about anything. My parents bought a car back in 2007 and traded in their 1988 GMC Sierra. They got $500 for it...
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Re: How old is a car that can still be traded in?

Post by lazydavid »

flyingaway wrote: Mon Sep 14, 2020 10:45 am I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?
RX350 was introduced in 2007. Do you have a first-generation RX300 from 2000, or an RX350 from some other year?

Dealers should take a vehicle of any age, although you'll obviously get less for something they can't resell and have to send to auction. When we bought our 2007 RX350 :wink: we traded a 1991 Grand Prix. They gave us some token amount, like $350.
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Re: How old is a car that can still be traded in?

Post by inbox788 »

flyingaway wrote: Mon Sep 14, 2020 10:45 am I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?
You're asking the wrong question. Dealers are there to deal. Don't ask them for permission or they'll walk all over you. Is it ok to pay less than MSRP? You can trade in your fishing pole as part of the deal if you want.

Others have answered the question of how to get the most value for your used vehicle.

Don't lose sight of the thousands the dealer stands to make selling you a new car, and every which way they'll try to maximize that. Walk out the door and you might not come back. The dealer will still be there tomorrow as well as the ones a few miles away.

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Re: How old is a car that can still be traded in?

Post by tibbitts »

Stinky wrote: Mon Sep 14, 2020 10:49 am In my experience, the dealer will take anything. Just maybe not a true antique or exotic car.

If he doesn’t want to keep it on his lot, he’ll wholesale it off.
Not true. I purchased a vehicle from a new car dealer and had an 11 year old car in good condition with only about 75k miles and the dealer would not accept it in trade. Maybe they would have taken it in trade for $0 but online resources showed it was worth about $3500 retail.

An no, walking out didn't change the non-offer.
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Re: How old is a car that can still be traded in?

Post by Chuck107 »

.....
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Re: How old is a car that can still be traded in?

Post by beernutz »

We sold a 2004 Honda Pilot at carmax a few years go. They offered us diddly for the vehicle because they were going to auction it rather than resell it themselves, which they readily admitted. However, I hate selling vehicles private party so to avoid that hassle we took their offer. My wife was in full agreement with the decision and I'd do it again in similar circumstances. Life's too short to deal with tire kickers.
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Re: How old is a car that can still be traded in?

Post by whodidntante »

Chuck107 wrote: Mon Sep 14, 2020 12:55 pm
whodidntante wrote: Mon Sep 14, 2020 10:54 am They'll take any car as long as they can get it for basically no money, perhaps convincing you that you got money with a confusing deal.

You get maximum cheese for your hooptie if you sell it to a private party. And you may meet some interesting people. Plus, if you're an American you can't go anywhere or do anything so it gives you something profitable to do. :happy
This is exactly the reason why I chose to trade mine in. I didn't want to meet any "interesting people" that and to me it's a hassle I didn't want.
I only expected 500 for it and had to hold back my smile when they said all they could give me was 2k.

But yes, a dealer will deal and usually to his/her advantage.
Just a guess, but you probably could have paid exactly the same amount of money for the car you bought and kept the car you had before also. But regardless, I'm quite sure a dealer did not pay $2,000 for a $500 car. They just made it look that way. :beer
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Re: How old is a car that can still be traded in?

Post by Stinky »

tibbitts wrote: Mon Sep 14, 2020 12:52 pm
Stinky wrote: Mon Sep 14, 2020 10:49 am In my experience, the dealer will take anything. Just maybe not a true antique or exotic car.

If he doesn’t want to keep it on his lot, he’ll wholesale it off.
Not true. I purchased a vehicle from a new car dealer and had an 11 year old car in good condition with only about 75k miles and the dealer would not accept it in trade. Maybe they would have taken it in trade for $0 but online resources showed it was worth about $3500 retail.

An no, walking out didn't change the non-offer.
Very odd. I’ve never run into that

As they say, YMMV.
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Re: How old is a car that can still be traded in?

Post by sport »

tibbitts wrote: Mon Sep 14, 2020 12:52 pm
Stinky wrote: Mon Sep 14, 2020 10:49 am In my experience, the dealer will take anything. Just maybe not a true antique or exotic car.

If he doesn’t want to keep it on his lot, he’ll wholesale it off.
Not true. I purchased a vehicle from a new car dealer and had an 11 year old car in good condition with only about 75k miles and the dealer would not accept it in trade. Maybe they would have taken it in trade for $0 but online resources showed it was worth about $3500 retail.

An no, walking out didn't change the non-offer.
It might make a difference if the make of the car is one the dealer sells new. It should be easier for a Toyota dealer to sell an old Toyota than an old Chevy.
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Re: How old is a car that can still be traded in?

Post by tibbitts »

sport wrote: Mon Sep 14, 2020 1:12 pm
tibbitts wrote: Mon Sep 14, 2020 12:52 pm
Stinky wrote: Mon Sep 14, 2020 10:49 am In my experience, the dealer will take anything. Just maybe not a true antique or exotic car.

If he doesn’t want to keep it on his lot, he’ll wholesale it off.
Not true. I purchased a vehicle from a new car dealer and had an 11 year old car in good condition with only about 75k miles and the dealer would not accept it in trade. Maybe they would have taken it in trade for $0 but online resources showed it was worth about $3500 retail.

An no, walking out didn't change the non-offer.
It might make a difference if the make of the car is one the dealer sells new. It should be easier for a Toyota dealer to sell an old Toyota than an old Chevy.
Maybe; this was a GM dealer and my car was a Ford.
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Re: How old is a car that can still be traded in?

Post by flyingaway »

TheTimeLord wrote: Mon Sep 14, 2020 10:51 am Check KBB.com. Took some guesses and gave your car the benefit of the doubt and got a current trade-in of about $2,400, but that will vary by locale.
I am very sorry. I typed the wrong year. My car is 2010 Lexus RX350.
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Re: How old is a car that can still be traded in?

Post by flyingaway »

lazydavid wrote: Mon Sep 14, 2020 12:39 pm
flyingaway wrote: Mon Sep 14, 2020 10:45 am I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?
RX350 was introduced in 2007. Do you have a first-generation RX300 from 2000, or an RX350 from some other year?

Dealers should take a vehicle of any age, although you'll obviously get less for something they can't resell and have to send to auction. When we bought our 2007 RX350 :wink: we traded a 1991 Grand Prix. They gave us some token amount, like $350.
I made a mistake in my original post. The car is 2010 Lexus RX350.
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Re: How old is a car that can still be traded in?

Post by inbox788 »

beernutz wrote: Mon Sep 14, 2020 12:56 pm We sold a 2004 Honda Pilot at carmax a few years go. They offered us diddly for the vehicle because they were going to auction it rather than resell it themselves, which they readily admitted. However, I hate selling vehicles private party so to avoid that hassle we took their offer. My wife was in full agreement with the decision and I'd do it again in similar circumstances. Life's too short to deal with tire kickers.
Newer cars do better at Carmax and now there's Vroom, Shift, and Carvana to compare (and these are even easier without leaving your living room). It's probably simpler to separate the transactions, but if you want to mix it up, getting a few quotes from these folks provides a target to beat, AFTER you've maxed out the best deal on purchase. Otherwise, the dealer will just shift around discounts and values and give you an inflated tradein for an inflated purchase without any real benefit.
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Re: How old is a car that can still be traded in?

Post by wfrobinette »

flyingaway wrote: Mon Sep 14, 2020 10:45 am I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?

EDITED: I am very sorry. My car is 2010 Lexus RX350. I bought it in 2009, so it has $110,000 miles. I checked the price online and people sell similar cars for $10,000 to $8,000.
Better off selling to private party it will get you more $.
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Re: How old is a car that can still be traded in?

Post by crefwatch »

Good replies, but it needs to be said explicitly that a dealer's "offer" for a used car trade-in is not an arms-length transaction pegged to some verified appraisal or BlueBook number. It's a complex calculation that involves the dealer's expected profit on the entire deal, including mandatory pinstripes and mandatory window-etching. It's certainly not a comment on what a swell car you have been driving at all.

Many essayists recommend that you should not say you are paying cash until you are in the Finance office, when you reveal that you want to pay cash, because you sold the car to Carvana or wherever.
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Re: How old is a car that can still be traded in?

Post by Gill »

Dealers will take about anything in trade. I once purchased a car by trading two motorcycles and two cars. One of the most complicated transactions I've ever been involved in!
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Re: How old is a car that can still be traded in?

Post by tibbitts »

wfrobinette wrote: Mon Sep 14, 2020 3:38 pm
flyingaway wrote: Mon Sep 14, 2020 10:45 am I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?

EDITED: I am very sorry. My car is 2010 Lexus RX350. I bought it in 2009, so it has $110,000 miles. I checked the price online and people sell similar cars for $10,000 to $8,000.
Better off selling to private party it will get you more $.
Yes, but having done so a few times, I can say that selling your car to a private party is a job. Sometimes it goes well; sometimes not so much. So you have to consider what your time is worth and how much the risk you take matters to you.
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Re: How old is a car that can still be traded in?

Post by palaheel »

I agree it's a job and to consider the time and risk.

I just purchased a certified used car and sold a 2005 one. I didn't try to do a trade-in, and I failed to even get an offer from one dealership I asked. I suspect I could have sold the car to CarMax, but it would have been a trivial amount.

For the first time, I sold a car privately. It was an interesting experience, but I think I got almost double I would have gotten from a low-ball dealer offer.

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Re: How old is a car that can still be traded in?

Post by jabberwockOG »

People need to understand that when they trade in a car what they are essentially doing is paying a dealer a steep fee to sell their car for them. The dealer will at most give you wholesale or less than wholesale because they have to take on the time, risk, and hassle of selling your car for you. So trading your car in is very easy and quick but also very expensive way to get rid of a used car. You may get smoke and mirrors in terms of trade in offer when buying a car so it appears they are giving you a fair trade in value, but that is always, and I mean always a scam.

What you get for a used car is inversely related to the effort you put into its sale. Spend some hours detailing the car, write a great ad, take good pictures and show it to multiple buyers until you get your asking price is the way to get the most for your used car but it is also the most work. Trade the old car in to a dealer is the easiest and quickest, but will always produce the least amount of money for you. Like others have posted, time is money so you have to decide - nothing wrong with taking a low ball trade because you don;t want to spend any time or effort selling your old car, but do so with clear eyes.
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Re: How old is a car that can still be traded in?

Post by tibbitts »

palaheel wrote: Mon Sep 14, 2020 6:54 pm I agree it's a job and to consider the time and risk.

I just purchased a certified used car and sold a 2005 one. I didn't try to do a trade-in, and I failed to even get an offer from one dealership I asked. I suspect I could have sold the car to CarMax, but it would have been a trivial amount.

For the first time, I sold a car privately. It was an interesting experience, but I think I got almost double I would have gotten from a low-ball dealer offer.

PM me and I'll list the details.
I think that given how long Bogleheads keep cars and the resulting low residual value, twice the money might still not be worth it. What really turned me off to selling myself was, ironically, trading my car to a dealer and having it immediately (the same day) suffer a catastrophic failure. The dealer was angry but didn't ask for anything. I just dread how that would have played out with a private sale. Another car I sold privately lasted only a month longer before the engine destroyed itself.

I don't really think the dealer offers are necessarily "low ball"; I think they're reasonable considering that if the same things that have happened to me happen to a dealer selling a car, they're definitely going to take some heat from a customer. I know someone who just bought a used car from a dealer without a warranty, and even once the purchase was final the dealer ended up spending a good amount of money on the car to correct some problems that showed up after the sale. Sure, I was recently offered $1500 by a dealer while Carmax offered $2000, so I guess you could say the dealer offer was less than ideal, but frankly the Carmax offer was encroaching on low retail, so that would definitely have made it worthwhile for me to sell to them.
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Re: How old is a car that can still be traded in?

Post by kiwi123 »

Get quotes from Carmax, Carvana, Shift, and Vroom. Smoe may give them to you without a physical inspection. Use these when you go to the dealer.

I you let the dealer they will go as far as "charging" you to take your old car off your hands :-)

Simple answer is no car is too old to trade in at the dealer as long as the dealer sees an angle to make an additional profit from you.
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Re: How old is a car that can still be traded in?

Post by sport »

jabberwockOG wrote: Mon Sep 14, 2020 11:07 pm People need to understand that when they trade in a car what they are essentially doing is paying a dealer a steep fee to sell their car for them. The dealer will at most give you wholesale or less than wholesale because they have to take on the time, risk, and hassle of selling your car for you. So trading your car in is very easy and quick but also very expensive way to get rid of a used car. You may get smoke and mirrors in terms of trade in offer when buying a car so it appears they are giving you a fair trade in value, but that is always, and I mean always a scam.

What you get for a used car is inversely related to the effort you put into its sale. Spend some hours detailing the car, write a great ad, take good pictures and show it to multiple buyers until you get your asking price is the way to get the most for your used car but it is also the most work. Trade the old car in to a dealer is the easiest and quickest, but will always produce the least amount of money for you. Like others have posted, time is money so you have to decide - nothing wrong with taking a low ball trade because you don;t want to spend any time or effort selling your old car, but do so with clear eyes.
At least in my state, the sales tax on a new car is based on the cost of the new car minus the allowance for a trade-in. For example, if the new car is 26K and the trade-in is 6K, sales tax is due on 20K. This makes trading in a car less of "scam".
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Re: How old is a car that can still be traded in?

Post by jabberwockOG »

sport wrote: Tue Sep 15, 2020 9:11 am
jabberwockOG wrote: Mon Sep 14, 2020 11:07 pm People need to understand that when they trade in a car what they are essentially doing is paying a dealer a steep fee to sell their car for them. The dealer will at most give you wholesale or less than wholesale because they have to take on the time, risk, and hassle of selling your car for you. So trading your car in is very easy and quick but also very expensive way to get rid of a used car. You may get smoke and mirrors in terms of trade in offer when buying a car so it appears they are giving you a fair trade in value, but that is always, and I mean always a scam.

What you get for a used car is inversely related to the effort you put into its sale. Spend some hours detailing the car, write a great ad, take good pictures and show it to multiple buyers until you get your asking price is the way to get the most for your used car but it is also the most work. Trade the old car in to a dealer is the easiest and quickest, but will always produce the least amount of money for you. Like others have posted, time is money so you have to decide - nothing wrong with taking a low ball trade because you don;t want to spend any time or effort selling your old car, but do so with clear eyes.
At least in my state, the sales tax on a new car is based on the cost of the new car minus the allowance for a trade-in. For example, if the new car is 26K and the trade-in is 6K, sales tax is due on 20K. This makes trading in a car less of "scam".

Nope, the dealer management is specifically trained and very skilled at extracting maximum profit from any customer who is gullible enough to mix a new car purchase with trade of their used vehicle in one negotiation. The sales tax differential is a real cost factor and needs to be taken into account when deciding to sell privately or to the dealer but mixing two vehicles in one negotiation is almost always bad news for the customer.

There is a way to not get ripped off on a new car transaction with a "trade" but it requires discipline in sequencing the deal and negotiations. It is critical that the buyer state they have NO TRADE in purchase negotiation and that they complete the new car purchase negotiation and transaction to the point of a final approved sales purchase invoice. Then and ONLY then the buyer stops the transaction, and asks that their old vehicle be appraised for a purchase offer. The used car manager can usually quickly appraise the car and provide an offer (usually in just a few minutes). If the offer is acceptable, or can be negotiated to an agreed price, the buyer at that point asks for a new invoice that credits the used car price into the purchase price of the new car.
atikovi
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Re: How old is a car that can still be traded in?

Post by atikovi »

Before the lockdown, I saw a 40's DeSoto go through a dealer auction so I wouldn't worry about them taking your Lexus.
tibbitts
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Re: How old is a car that can still be traded in?

Post by tibbitts »

jabberwockOG wrote: Tue Sep 15, 2020 9:32 am The sales tax differential is a real cost factor and needs to be taken into account when deciding to sell privately or to the dealer but mixing two vehicles in one negotiation is almost always bad news for the customer.
I've lived in states that work both ways, but here I have to pay sales tax on either the full price of a car or the full book value of the car, whichever is higher, regardless of trading an old car or not.
SpaethCo
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Re: How old is a car that can still be traded in?

Post by SpaethCo »

kiwi123 wrote: Tue Sep 15, 2020 12:38 am Get quotes from Carmax, Carvana, Shift, and Vroom. Smoe may give them to you without a physical inspection. Use these when you go to the dealer.
THIS!

I sold a 2008 Mazda3 to Carmax for $5000 in June. When I was buying the CX-5 to replace it, the dealer was only willing to do $2500 trade in.

KBB estimated value was $3800.
michaelingp
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Re: How old is a car that can still be traded in?

Post by michaelingp »

I recently bought a new car and asked about trading in my 2004 CR-V with 180,000 miles and the salesman said $500, in a way that made me think that was just what they'd give you for any really high mileage car. Actually, they probably just try to pick the $500 back from you one way or another, so they're not really giving you anything. I usually give my old cars to a grandchild or niece or nephew.
finite_difference
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Re: How old is a car that can still be traded in?

Post by finite_difference »

wfrobinette wrote: Mon Sep 14, 2020 3:38 pm
flyingaway wrote: Mon Sep 14, 2020 10:45 am I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?

EDITED: I am very sorry. My car is 2010 Lexus RX350. I bought it in 2009, so it has $110,000 miles. I checked the price online and people sell similar cars for $10,000 to $8,000.
Better off selling to private party it will get you more $.
Or at least sell it to CarMax. Trading it in makes negotiating for a new car really complicated. I prefer to negotiate the OTD price, with no trade-in connected.

Or buy a car from CarMax.
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh
wfrobinette
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Re: How old is a car that can still be traded in?

Post by wfrobinette »

tibbitts wrote: Mon Sep 14, 2020 5:40 pm
wfrobinette wrote: Mon Sep 14, 2020 3:38 pm
flyingaway wrote: Mon Sep 14, 2020 10:45 am I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?

EDITED: I am very sorry. My car is 2010 Lexus RX350. I bought it in 2009, so it has $110,000 miles. I checked the price online and people sell similar cars for $10,000 to $8,000.
Better off selling to private party it will get you more $.
Yes, but having done so a few times, I can say that selling your car to a private party is a job. Sometimes it goes well; sometimes not so much. So you have to consider what your time is worth and how much the risk you take matters to you.
Don't disagree. Carmax, Vroom and Carvana are all options. I get an offer in hand from all three.
Topic Author
flyingaway
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Re: How old is a car that can still be traded in?

Post by flyingaway »

wfrobinette wrote: Wed Sep 16, 2020 11:16 am
tibbitts wrote: Mon Sep 14, 2020 5:40 pm
wfrobinette wrote: Mon Sep 14, 2020 3:38 pm
flyingaway wrote: Mon Sep 14, 2020 10:45 am I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?

EDITED: I am very sorry. My car is 2010 Lexus RX350. I bought it in 2009, so it has $110,000 miles. I checked the price online and people sell similar cars for $10,000 to $8,000.
Better off selling to private party it will get you more $.
Yes, but having done so a few times, I can say that selling your car to a private party is a job. Sometimes it goes well; sometimes not so much. So you have to consider what your time is worth and how much the risk you take matters to you.
Don't disagree. Carmax, Vroom and Carvana are all options. I get an offer in hand from all three.
How did you get offers from them? Did you drive your car to each place and ask them for an offer?
Lumpr
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Re: How old is a car that can still be traded in?

Post by Lumpr »

Stinky wrote: Mon Sep 14, 2020 10:49 am In my experience, the dealer will take anything. Just maybe not a true antique or exotic car.

If he doesn’t want to keep it on his lot, he’ll wholesale it off.
^This
wfrobinette
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Re: How old is a car that can still be traded in?

Post by wfrobinette »

flyingaway wrote: Wed Sep 16, 2020 11:00 pm
wfrobinette wrote: Wed Sep 16, 2020 11:16 am
tibbitts wrote: Mon Sep 14, 2020 5:40 pm
wfrobinette wrote: Mon Sep 14, 2020 3:38 pm
flyingaway wrote: Mon Sep 14, 2020 10:45 am I have a 2000 Lexus RX350. It runs great and I plan to drive it for a few years.

However, down the line, I want to trade in the car for a new one. I wonder how old is a car that can still be accepted by the dealer for a trade in?

EDITED: I am very sorry. My car is 2010 Lexus RX350. I bought it in 2009, so it has $110,000 miles. I checked the price online and people sell similar cars for $10,000 to $8,000.
Better off selling to private party it will get you more $.
Yes, but having done so a few times, I can say that selling your car to a private party is a job. Sometimes it goes well; sometimes not so much. So you have to consider what your time is worth and how much the risk you take matters to you.
Don't disagree. Carmax, Vroom and Carvana are all options. I get an offer in hand from all three.
How did you get offers from them? Did you drive your car to each place and ask them for an offer?
Carmax you have to go.

Carvana and Vroom do it online then come pick it up.
doraemon
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Re: How old is a car that can still be traded in?

Post by doraemon »

About a year ago, I sold my 2001 Mazda Protege on Craigslist. I received only one email from an interested buyer, but he ended up buying it, and paid me cash. I was a bit nervous about the whole thing, but it turned out fine. I just signed over the title and that was it.

My sister got a quote from CarMax on her 2010 Subaru Forester, but ended up trading it in on a new Crosstrek. The Subaru dealer came in with a price on the Crosstrek (without a trade), and told her that if she accepted that price, he would also take the trade-in and give her $500 more than whatever the Carmax quote was (which she hadn't told him at the time). It's quite possible that the Subaru dealer inflated the price a bit in framing the offer for the trade-in, but even so, I thought my sister got a very good deal overall.
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Brianmcg321
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Re: How old is a car that can still be traded in?

Post by Brianmcg321 »

Just sell it on Craigslist or Facebook
Rules to investing: | 1. Don't lose money. | 2. Don't forget rule number 1.
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