is it possible to trade and come out OK??

[Ridgeline4wd_Archive]

I really didn't wanna have to trade, but my 04' Titan KingCab SE 4wd/big tow pkg. just isn't getting any hits here in S.E. Minnesota....any tips for me if I DO end up trying to trade?? I just have this sinking feeling I will have to LOSE MY ASS to make it happen!! Thanks.

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Your ass will be lost if you trade a new vehicle. As much as a love this truck there would be no way I would be able to do it. Keep the Titan.

Kevin

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I just traded in my nissan 350z a couple of days ago for my new ridgeline. I came out great with trade in. One thing you should DEFINITELY check on is taxes!

I saved about $1400 in taxes by trading in a car (7% tax rate)!

Here is what happened. I was going to sell my car out right for $22,000. Well, as a trade in, I was given $20,500. I'm not sure if all states are the same, but here in Georgia, you only pay taxes on the difference between the new price and the trade in.

I ended up basically the same if I had sold it to an individual or traded it in, except the trade in is much easier to do!

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Kevin3 wrote (View Post): › docWrite("quote")I just traded in my nissan 350z a couple of days ago for my new ridgeline. I came out great with trade in. One thing you should DEFINITELY check on is taxes!

I saved about $1400 in taxes by trading in a car (7% tax rate)!

Here is what happened. I was going to sell my car out right for $22,000. Well, as a trade in, I was given $20,500. I'm not sure if all states are the same, but here in Georgia, you only pay taxes on the difference between the new price and the trade in.

I ended up basically the same if I had sold it to an individual or traded it in, except the trade in is much easier to do!

Welcome to the forum!!! I think you will find all states are the same way - only paying taxes on the difference.

Good luck with your new RidgeLine!!

[Ridgeline4wd_Archive]

Well let me ask this: I was quoted an "internet special" price on an RL at a dealership 4 hours from me....then I emailed and asked about trading my Titan...she said no problem they would have to appraise it of course...but would my trade be on the price I was quoted for the RL, or back to MSRP?? (I was quoted near invoice). THANKS.

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grunkster wrote (View Post): › docWrite("quote")Well let me ask this: I was quoted an "internet special" price on an RL at a dealership 4 hours from me....then I emailed and asked about trading my Titan...she said no problem they would have to appraise it of course...but would my trade be on the price I was quoted for the RL, or back to MSRP?? (I was quoted near invoice). THANKS.

The stealership still has to make a profit someplace and if they are offering a good price on the RidgeLine, chances are they will not offer a particularly good deal on your trade. In the end, it's all what works for you and you can feel good about.

Good luck!!!

:)

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The trade scam pisses me off! If the dealership is making a good enough profit at the price quoted, and then if they undervalue the trade, they're double dipping -- that sucks!

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right...imo the trade deal should either be wholesale on the trade for wholesale (invoice) on the truck....or retail on the trade for retail on the truck. Simple as that.

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grunkster wrote (View Post): › docWrite("quote")right...imo the trade deal should either be wholesale on the trade for wholesale (invoice) on the truck....or retail on the trade for retail on the truck. Simple as that.

Exactly!!!! There will be some market adjustments that are made on the fly due to supply and demand that factor in as well.

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I disagree. I think the deal should be two-fold -- 1) you're buying a new car, so negotiate the best price, and 2) they're buying your old car, so negotiate the best price. Both sides win in this type of situation, but that's not reality! In reality, you can't really separate the two parts so cleanly. If I'm selling my used car, the price I get might (and usually will) influence how much I'd pay for the new car. I'm sure the dealership has similar issues. I just don't like the dealerships pretending that your trade is a piece of crap so they can get you to 'give' it to them and then they turn around and sell it for the price you knew they'd sell it for eventhough they tell you 'the market for that car is saturated, we'll never be able to sell that car, etc etc'. Am I rambling? Talking in circles? Agreeing with myself while disagreeing at the same time? I think so! g'bye! 8)

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2006Ridgeline wrote (View Post): › docWrite("quote")
~big snip~
Am I rambling? Talking in circles? Agreeing with myself while disagreeing at the same time? I think so! g'bye! 8)

Yes............all of the above.
:)

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I know, sometimes I just don't know when to shut up! :oops:

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Guys, it's simple. Dealerships buy cars at wholesale and sell them at retail. Why would a dealership pay more for your Titan than what their competitor paid at auction for the same vehicle? Especially if they quoted you a price near invoice on the car you are buying.

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I don't have a problem with the "buy at wholesale, sell at retail" explanation, but I do have a problem with the "expecially if they quoted you a price near invoice..." comment because the amount they give you for the trade, in an ideal world, should not be tied to the price you pay for the new car, imho! 8)

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2006Ridgeline wrote (View Post): › docWrite("quote")
I don't have a problem with the "buy at wholesale, sell at retail" explanation, but I do have a problem with the "expecially if they quoted you a price near invoice..." comment because the amount they give you for the trade, in an ideal world, should not be tied to the price you pay for the new car, imho! 8)


It's not tied to the new car. He could have bought the RL at near invoice, as I did, even if he didn't have a trade. No matter what the case, the dealership is not going to pay more for his car than what they can purchase the same car for at auction.

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2Dobes wrote (View Post): › docWrite("quote")2006Ridgeline wrote (View Post): › docWrite("quote")
I don't have a problem with the "buy at wholesale, sell at retail" explanation, but I do have a problem with the "expecially if they quoted you a price near invoice..." comment because the amount they give you for the trade, in an ideal world, should not be tied to the price you pay for the new car, imho! 8)


It's not tied to the new car. He could have bought the RL at near invoice, as I did, even if he didn't have a trade. No matter what the case, the dealership is not going to pay more for his car than what they can purchase the same car for at auction.

This is true. It MAY look as if they do on paper, by adjusting what they are selling the new car for - but in the end, they will not pay more.

[Ridgeline4wd_Archive]

I agree! Salesmen usually try to fool the buyer by playing with both numbers (sales price and trade-in value) until he gets what he wants on the new car and the buyer thinks he's getting a good deal on the trade and on the new car. I don't particularly like this game, that's all.

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Just keep it simple....my car and X amount of dollars. They can write that up any way they want.

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I usually try to look at it from this point of view; I figure out what the lowest possible price is I can purchase the new vehicle for. Then you must be realistic and decide what they can purchase your car for at auction.
The difference between these two figures is what you need to concentrate on.
My car + the difference = new car. It's too easy to get caught up in all the other numbers.

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I agree with both of you. I've always done the same thing. I don't like the 'negotiate the best price on the new car first, then tell them you have a trade' approach. The 'my car and my trade should be a certain amount' approach works better for me. Or, I just don't trade a car and make it real simple! The problem is that the garage fills up with all those old cars real fast! :lol: