Trade In Old Car For New Car?

[Lil M]

i have a 1988 volvo 249 dl with 211, 000 miles i want to trade it in do car dealership give u the the trade in value or wholesale value my car is in good condition one dealer ship told me a 100 dollars trade in what is the wholesale value if the dealers give u that?
a honda dealer was going to give me the trade in value for $1,100 is there a catch to it

[Stupid Flanders]

You would be better off selling it outright to a private party.

A 1988 vehicle with 211K miles is not in high demand and they, likely, would not be able to sell it on their lot.
A dealer is going to offer you $100 because that is about what they would get for it from a wholesaler who is going to sell it at auction.
If you negotiated, you might be able to get $200 or $300 for it, but big deal.

If it runs well, advertise it for $1000 and take $700 for it.

EDIT - There is not a catch to it as long as they as you are getting the best possible deal on the car you are purchasing.
If you are paying $1,000 too much for the car you are buying, then they are just shifting the numbers around.

If you have a CarMax in your area, get it appraised by them. Although I would never buy a car from CarMax, they are useful to get a ballpark of what you can expect from a trade-in from a traditional dealer.

[Liam o]

Some dealers won't touch an old car like this (sorry) Best sell private and then haggle like f@@@

[Lover not a Fighter]

The question you have to ask is NOT "how good is the car to me", but "would I buy a car 211K miles old" and the answer is - probably not for lot of money.

The honda dealer will give you more money for the trade in but they will be less willing to go down on the price of the new Honda.

Forget the trade in deal. Do separate deals - sell the volvo in a private sales and get another car and do the best bargain you can do.


Good Luck...

[Lover not a Fighter]

The question you have to ask is NOT "how good is the car to me", but "would I buy a car 211K miles old" and the answer is - probably not for lot of money.

The honda dealer will give you more money for the trade in but they will be less willing to go down on the price of the new Honda.

Forget the trade in deal. Do separate deals - sell the volvo in a private sales and get another car and do the best bargain you can do.


Good Luck...