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Is there such thing as a "charge off" to a dealer if I trade in a new car?

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user365735
Regular Contributor

Is there such thing as a "charge off" to a dealer if I trade in a new car?

ive just purchased a new car two months ago. i hate it..but thats besides the point.

 

Im trying to trade it in already and ive gone back to the orignal dealer to work out a deal. the "used car manager" was off today so they wouldnt tell me if they would give me what i want for my trade in but said wait to speak to him since he does all the auction stuff and he has the final say in this. 

 

My question is, I have read about dealers getting charge backs or something. Is there such a thing? Can I use this against them? I am hoping to get 15k for the trade in and carvana and edmounds point me to that range. Even KBB is saying 14k but dealers first offer was 12k.

 

If I can find a dealer to give me close to 15k then its a done deal.

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rostrow416
Established Contributor

Re: Is there such thing as a "charge off" to a dealer if I trade in a new car?

1) the car is not new anymore.

2) a car depreciates drastically once its driven off the lot

3) the dealer will always offer less than the estimated value according to third party sites

 

Without knowing the specific car/value/payoff, it's hard to say if it's a fair estimate.  But if Carvana is offering you close to what you want, that may be the best way to go.

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