Trade-in question...

I have an '86 Buick Century with about 130k miles, and a 1996 Hyundai
Sonata with about 62k miles. Would it be possible to trade in both of these
cars for a newer model? Do dealers normally do this or do they frown upon
this idea? Your thoughts/comments/experiences on this would be most helpful
and welcome.

Thanks,
Eaton

Roughly 4/3/04 21:37, Eaton Wings's monkeys randomly typed:

> I have an '86 Buick Century with about 130k miles, and a 1996 Hyundai
> Sonata with about 62k miles. Would it be possible to trade in both of these
> cars for a newer model? Do dealers normally do this or do they frown upon
> this idea? Your thoughts/comments/experiences on this would be most helpful
> and welcome.

The dealer is in business to make money. Money on the new car you buy
as well as a profit on the used cars they buy from you. If your used
car is worth putting on their lot, they may pay you a bit more than if
they plan to just auction it off and get rid of it. As for what they
offer you on trade in compared to the price of the newer car, some
dealers are more honest than others in this.. an honest one will hope
you realize that they want to make money. If your old car is
worthless, *any* money they offer you will be added to the price of the
newer one, as they will have to pay to get rid of it. You might
consider selling it yourself or just donating it to a charity with
clean IRS status... [check before you donate, as if the charity does
NOT have a clean IRS status, you can't take the tax deduction...].

--
Evolution is really just survival of the minimally adequate

A quick check of kbb.com reveals the trade-in value of a 1986 Century
Custom sedan, V6, 130K, with typical equipment and in good condition,
to be $350. If it runs well and does not need major repairs, you
should sell it yourself for sure. If it's falling apart, take the
$200 the dealer will probably offer you as a low-ball number. The
Sonata is worth a little more, at $1210 assuming a GL sedan,
automatic, typical equiment, and 62K, in good condition. The dealer
will probably say "Hyundais are worthless" and start under $1000. But
again, selling it yourself through a newspaper ad or online classified
will yield better results, especially with the low mileage of that
one.

If the Century runs well and the AC works, I may be interested in it
for myself, as a second car, I drive a 1995 Century now and love it.
This 1995 replaces the 1989 and 1988 Centuries I have had in the last
3 years. Feel free to email me with details on that car, if I don't
buy it myself I always have friends who come to me looking for cars.
Might even be able to help you sell the Sonata, too.

Don't bring up the trade-in questions until *after* you have come to
an agreement on the price of the car you're buying. If they ask if
you're trading in a car, say, "I'm not sure yet, I may decide to keep
my car for a child/brother/coworker/sell it myself/donate to
charity..." Pick up a book about car buying (used bookstore or
library should have plenty) and learn some tricks. Don't be pressured
into shopping for a particular payment. Figure out what you can
afford *before* you go shopping, and get the car you want for the
price you want. Then when you've decided on that $22K new car for
$17,270 after rebates and such, tell them, "hey, I've got a trade-in,
actually, two, if the offer is right!" They'll start out very low,
probably $200 and $800 for your two cars, and you tell them, I need at
least (example, the kbb trade in values of) $350 and $1200 or I'll
just keep them.

If you have issues with credit, or not a lot of money down, you will
*definitely* be better off selling them yourself so you have the
largest amount of cash possible. In these days of $0 down and easy
credit, a lot of dealers are making scads of cash on financing and
people with less money down are the ones who get hurt. Don't let your
dealer use rebates for cash down. You end up paying sales tax on the
rebate that way, plus interest on top of that! Try to have 15-20%
down as well as your sales tax and registration fees up front. On a
$15,000 car, with 7% sales tax and $150 in registration and title
fees, that's $3450 to $4200. If you sell your Century for $800 in a
private party sale and the Sonata for $2000 (which is what I would
advertise them for unless they're in really spectacular shape,) you're
almost there.

But to answer your original question, yes, they'll do it, but it's not
the best idea unless they're both falling apart and in that case
you'll get wholesale values and it's better than driving them to a
junkyard and calling a cab to get home.

Alan Moore
Dallas, TX

"L0nD0t.$t0we11" > wrote in message news:<zUYbc.68760$gA5.834622@attbi_s03>...
> Roughly 4/3/04 21:37, Eaton Wings's monkeys randomly typed:
>
> > I have an '86 Buick Century with about 130k miles, and a 1996 Hyundai
> > Sonata with about 62k miles. Would it be possible to trade in both of these
> > cars for a newer model? Do dealers normally do this or do they frown upon
> > this idea? Your thoughts/comments/experiences on this would be most helpful
> > and welcome.
>
> The dealer is in business to make money. Money on the new car you buy
> as well as a profit on the used cars they buy from you. If your used
> car is worth putting on their lot, they may pay you a bit more than if
> they plan to just auction it off and get rid of it. As for what they
> offer you on trade in compared to the price of the newer car, some
> dealers are more honest than others in this.. an honest one will hope
> you realize that they want to make money. If your old car is
> worthless, *any* money they offer you will be added to the price of the
> newer one, as they will have to pay to get rid of it. You might
> consider selling it yourself or just donating it to a charity with
> clean IRS status... [check before you donate, as if the charity does
> NOT have a clean IRS status, you can't take the tax deduction...].