I'm looking to trade in my black '01 L at a local car dealer for a luxury suv, as my needs have changed, and require more room. However, the
dealer only offered to give me $23,500 for my truck, which is in excellent condition and only has about 5900 miles. NADA.com says this vehicle should fetch at least $25,000 because of the low mileage. I questioned the dealer about this figure, and he said they arrived at the number after calling four local Ford dealers, plus a wholesaler. I am getting the feeling that they are trying to cheat me. What do you guys think? Is this number realistic?

 

I'm not sure how accurate this is, but it seems to be in line with what your dealer offered. I'm not too pleased with these figures, myself.

edmunds.com pricing info

Hope that helps.

-Ollie

 

If your truck is low miles like that and in great condition it is not a wholeslae piece!!!!

They are trying to screw yo on your trade so they can put it on there lot and for $27k or more!!!!

This is standard dealer practices and dont let them get one over on you. Tell them what you want for the truck and if they decline walk away. They are in the business to make money, and the biggest money they can make is by "hooping" your trade with a bull**** line about wholesale value.

Bob

 

Listen to Bob...he's a manager for a high volume dealer in FL.

So you will know, I got 24,000 even on July 6th of this month for my '01 (silver) w/ approx. 16,900 miles on it.

They tried to give me 23000 but I wouldn't budge. On top of it I got X-Plan on my new '02 (and the '01 was an X-Plan buy last year as well)! I owed 25k on the '01, but I needed 4 new tires as well, so after you figure in tires/mounting/balancing, etc. it was worth trading in for my new black '02. My payments stayed the exact same to the dollar.

P.s. My '01 truck also had been subjected to 3500+ in body damage from when a lady rammed the driver's side door. It was fixed in March '02 by the same dealer I traded it in at. They did an excellent job and you could not even tell. To top it all off about 2 months ago I was cutting grass and a rock flew out and hit the driver's door (the new one, lol), put a ding the size of a quarter in it and broke the paint! When I traded it, it still had the ding, which was quite noticeable.

 

First ,I think $23,500 Actual Cash Value is not bad for a dealer.
Second Some of you seem to think that just because they are dealers,they are out to screw you.Why dont each of you sit back and think about this.....

If you had $23,500 to INVEST into a DEPRECIATING vehicle in an economy like this,How much would you expect to make for say a 3 month investment.

Problem is some of you probally dont have $23,500 laying around and if you did,you wouldnt dare to invest into something that you KNOW is going to depriciate.
So even if they did sell it for $27,000,You really think $3500 is alot of money to make with all that risk?????Just because they are dealers,They are people too.Thats not even acounting for the

25% to salesman
floor planning interest
reconditioning
any NON warranty items....

That 3500 gets pretty small when you look at the big picture.And even if is didnt,Thats not alot to make on a 23,500 vehicle

 

i think you are gettin ripped off.
when my dad sold his 2001 Red Lightning, he had almost the same exact mileage as you, a few more actually, and the dealer gladly paid him 26500. Then they put it on their lot for like 29500. You should give them a call. If your in Louisiana, it might be worth it to drive here to Dallas, Texas to get the extra 3 grand out of the truck.
Hope this helps.
Kyle Thompson

 

23500 is a rip, and denying such is ridiculous. You're not even looking at the big picture: He's getting a new vehicle from this dealer, which equals MORE profit.

The dealer is out there to make as much as possible. They can go higher on that trade and they know this. They start off w/ a figure that they know will get them a deal from hell, then it's up to you to accept it or argue it. They have a set point they will go up to already planned. If they don't then they definitely aren't salesmen.

 

It's not a ripoff. It's an offer, nothing more. If you want more, ask for more. If they decline, they decline. In some countries, the best word to describe this is "haggling." In the USA, I expect the word and the practice of it will be outlawed by anti-capitalists who think buy low, sell high is unfair.

 

They are rippin you off.

 

www.nada.com gives better pricing. Most dealers still use this, and almost all banks do.

Come to Mobile and work w/ a dealer here if they all give you problems there. You're just about 1.5 hours away if you're anywhere near NAWLINS.

Average trade-in on your truck is about 25500 w/ those miles.

 

 

Kyle,

What dealership in Dallas did your dad trade his red 2001 in to?

 

North Central Ford.
And that wasnt a trade, they gave us a check for 26500 straight up.
Kyle

 

OK. I edited my post and replaced the offending words with "anti-capitalists."

Regardless of that, it has nothing to do being unfair or a ripoff. It's just their offer to buy the truck. You don't have to accept it.

Spike

 

LoL you're alright! I took down my earlier post.