Trying to trade my car and dealer is using "auction" value!?

[Topsail]

I'm trying to deal for a new car and have a great 2004 to trade in. I like to trade just so I don't have to go through the hassle of selling it myself.

So Edmund's says $18,000 for "trade-in" value of my car but the Toyota dealer says $15,000 for "auction value" is all they'll give "because they lose money" paying "trade-in" value. Also, they're not getting close to cutting enough on the new car...according to Edmund's (and Kelly is close), these guys would make $3K on the trade for my old car plus $2,800 for the new car for a profit of $5,800!!! Usually, I get a new car for $300-500 profit for the whole deal--I figure the dealer can't stay in business for zero profit but I don't like to get clobbered either.

Well I walked after seeing the sales manager--I said there wasn't any basis for discussion--also told them that lots of Toyota dealers out there. They've been calling me every other day since then.

So has anyone heard of this "auction" value? I don't think its legitimate.

[simply_made]

ask them to show you from the book directy of this so called auction value. Or even go to http://www.kbb.com The industry standard is "Kelly Blue Book" ... some dealers use what they believe is a more accurate sales value in another book called "NAPA" don't know what it stands for. They might be calling the NAPA value auction value to simplify the sale

I hope you have already picked out a specific car with a guaranteed price to purchase before discussing the valueof your trade in.

Dealers are well know for their deception and playing around with the numbers. They may give you a low price to close the deal, then make up for the loss with extras, that you thought were included. Low balling your trade in value is one way they can make up the difference.