I've been approved at my credit union for $26,000 for a 2005 Acura MDX Touring with Navigation and DVD. This vehicle blue books for around $30,000 and the trade in value is $23,400. The dealer has the vehicle priced at $25,899. I'll be trading in a 2004 Chrysler Town & Country Touring Platinum edition mini van. The blue book trade in value is $8,800 and the retail value is $13,300. I owe $10,200. I'd like to offer the dealership $26,000 out the door for the MDX and ask them to give me $10,200 for my van to pay it off. Is this a reasonable offer? I don't want to offend the dealership or get off on the wrong foot but right now this is what I can do. Is my offer reasonable? Thanks in advance for any replies, suggestions, opinions, etc..........
Trade-in values found on KBB or NADA are typically higher than what a dealer will actually offer you for your trade. Asking for 10k+ on your trade is a bit high IMO but you never know... it's always worth asking.
26K OTD would be a good deal... i'd even settle a bit higher if need be... just as long as they meet you half way
I would ask them to knock off $5-9K off the price of new car, and pay off your trade. DON"T Pay what they are asking! Tell them you have your financing already approved, (BUt don't tell them how much your approved for.) Just tell them that you need this deal to work, or you will need to go back to the other dealer....you just wantd to give them first chance at the sale. They are so desperate they will do it.
I was going to trade my car in last month average book value is 17k trade was 13+ and 2 the car is in excellent condition and the dealers told me they would give me 7500 even if I didn't purchase from them. Felt like I was slapped in the face, I had to say um no thanks. I did purchase my new car however the old car is sitting by the road and going on ebay, because its a beautiful car and in its condition I refuse to just give it away! Good Luck with your deal!
In my experience here's what you can expect the dealer we will give you 6800-7800 for your trade and you can put the neg equity on the new loan ( remember they have 30 - 26 = 4K to work with ) because of BB on new vehicle. This is just my opinion and may not be your experience. I would also look in paper to see if anyone is wanting to sell same vehicle for payoff and finance through CU and sell the van privately.