Don't Trade-In a Car Until You Watch THIS Video | How to Negotiate Your Trade-In

[@JK-ld8cd]

when you hear "great news', you know youre getting screwed

[@AYouTubeChannelwithNoName]

😂😂

[@ZLT_90]

I work in car sales. My management is always telling us to say "great news" before presenting numbers. I can't bring myself to say it. It's not only cringe, it also just screams I'm a slime ball. I learn a lot from these videos. There are so many videos on KZbin to help Salespeople negotiate better. These videos help me understand what a fair deal looks like to the customer. I'm all about getting to a fair deal as quickly as possible.

[@lilouzhi]

Gotta reply with that don't sound like great news to me

[@srh-on2uw]

😂😂

[@deandrewolf5996]

🤦😂😂😂😂🤞

[@simplyeasydiy]

That is never how a conversation goes for me. They would low ball me with the $11,000 offer. I tell them I think it's too low. They ask me what I think my car is worth. If I give them the$15,000 number, they then think we can meet in the middle by way of haggling for the next hour. If I refuse to budge then they refuse to budge and it becomes an exercise in futility. So I just get up to leave after I get the first low ball offer. Sometimes that springs them into action with managers and serious talks around my $15000 and other times they just let me go. Either way is fine with me. The trick I think is to actually be fine with either outcome.

[@laid07]

The one who cares least about the outcome, is the one with all of the leverage.

[@pilotgirl5953]

I kinda agree. you gotta be willing to walk. Know your cars value, know the value of the car you are buying and try for end of month or year. This has worked for me quite often.

[@steviesevieria1868]

@@laid07 it says a lot for models that are difficult to get right now. Like Toyota RAV4 for example. The dealer doesn’t care if you walk because he doesn’t have any anyway and he’s taking deposits for ones that are on the way.

[@stevewardlaw]

One other trick to get them to raise an offer I have seen if you're buying a (New to You!) Used Car. Ask them to explain their Blue/Black Book methodology for how they appraised/valued your vehicle. Then look up what the exact same method would say the car they're trying to sell you is worth. This will often be less by *thousands* and really make them look greedy at the negotiating trough. I've had them move over 15-20% on this tactic alone before, or realized the car I thought I wanted was way overpriced and just walked out.

[@AYouTubeChannelwithNoName]

Nice one

[@pilotgirl5953]

Actually a great idea!

[@es330td]

Every time I have had a trade in I go get a hard offer from one of the places that will buy your car from you. Up front I will take no less than that offer minus the tax savings I get for the trade in. The advice to treat it as two separate transaction is absolute. I also pull out my HP-12C financial calculator when we start to talk numbers.

[@smokeyj3983]

This took 10 minutes here. In reality this process takes like 2 hours. They always say let me run this by my manager, and takes them forever.

[@orlandominichiello]

I may just sell my car privately and concentrate on one thing at a time, though do get a lot of nonsense looky lou's.

[@smokeyj3983]

@@orlandominichiello you will get so many fake messages, and no shows. It's so annoying these days. People have no integrity anymore.

[@sptrader6316]

@@orlandominichiello The problem is, if you sell you car privately, I think you lose the tax benefit. I needs to be a trade-in.

[@kingyak7]

Then they take a lunch break while you wait. Lol

[@ahmedawad563]

On a different video, I learned that this too is part of the tactic. To get you to spend hours in the dealership to wear you out, so that you get to a point where you're more likely to accept one of their offers, just to get away from there and get on with your day. So to counter that tactic, do these things (again, stuff that I remember from that other video): 1- Pick a weekday. Avoid weekends. Weekdays are slow, and sales people would be more willing to close a deal in a weekday, because most their closings happen during the weekend. 2- Go later in the day. That way, the pressure will be on them to close the deal before the day ends. Also, they don't have the same amount of energy for the back-and-forth if it's later in the day, and they too want to go home. 3- If possible, pick the last day of the month or the day before for your visit. Sales people want the month to close while their sales targets are met. So a sales person will do everything they can to close a sale if it's the last day of the month, and they're below target for that month. 4- Before you set foot at the dealership, do your research on your vehicle's worth. Because they will 100% try to low-ball you at first. 5- Treat each of these transactions as its own. So first, don't tell them that you have a vehicle to trade-in. Ask about the vehicle you want, and negotiate the best OTD price you can get. Only after you have that price agreed on, reveal that you also have a vehicle to trade-in. And start negotiating this transaction separately. That way, you get the best deal on both transactions.

[@anthonylozano8035]

yeah... I wished it worked out this well but it usually doesnt. Never trade in with a deatlership they will low ball you and at best try to add $500 to $1000 on top of that low ball price to get you to sell that car to them. Just ended up selling my car to a private seller and made much more doing so

[@chiterrapalmer]

I am in the situation now and depending on car factors...not going to make more either way unless its a special car...or!

[@dennisd9554]

I do think if you walk in with a printed offer from CarMax or similar they will try to match it. Last time I went for a test drive and they valued my trade-in the offer was the KBB equivalent of "Poor", even though the real condition was "Good" by all the criteria they list. And afterwards when I plugged it in to CarMax their offer was much higher. Definitely low-balled, but would have been completely different if I had the other offer in hand. Didn't buy from them, but lesson learned.

[@willhernandeziam]

Dealerships in my area would tell me well go ahead and go online or sell it on your own. They have too much inventory they can't sell.

[@coachdelgado2164]

You forgot about the part where they say brb and leave you waiting for 20-30 min and another guy tries to explain how they can’t go much in value due to condition and then you go back and fourth and then they come back 20 min later again and then say the best they can do is this and then you fill obligated to take the offer because you been there way to long

[@MR3DDev]

What I Did for my trade in: Went to several shops, appraised my vehicle. Then took the highest offer to the dealership and ask "can you do better?". I never brought in that I wanted to trade my car just showed them the offer and the gave me 1k extra over it.

[@texaslovelylady]

Sounds easier

[@spidercj13]

What kind of shops sir

[@christang2113]

Question: when to bring up the trade-in? When negotiating with the sales manager or the finance manager? I assume it's the sales manager, right?

[@jeffhenjes1722]

Figure out the cost of the new car first, what is going to be paid. Then worry about a trade-in. Know what you want to pay either in cash or finance first. If you can't make the sale and trade work inside those numbers, lower your expectations and find another vehicle that works. Maybe the same vehicle in a lower trim level.

[@ryanshannon6963]

The trade is irrelevant to the purchase; that's what dealers want you to do. As a consumer you should already understand your budget, the trade is a completely separate transaction to a purchase. I.E.: the events are *unrelated*. Assuming the sale *to the dealer* for your car works for them, the next purchase is in an entirely different scope: it could be at that dealer, a different dealer, completely different car, plane tickets to Maldives. It's not the dealer's business as to *what* the money will be used for, so why is this transaction *so special* that only funds attributed to a vehicle shall only be used for another vehicle? Shit, *HOUSES* don't even fall into that qualification. The difference? There's so specific regulation and tighter reinforcement of laws that can be leveraged for real property purchases. Much less the required transparency for purchasing a house, etc...Cars are special because NADA purposely lobbies to prevent such in-depth oversight. Also, the fact that Cox Automotive is trying to be the Zillow (but with much greater success, realistically) of automotive valuations that there's purposeful obfuscation between what dealers use for data in determining value vs what the typical consumer has available to them. It's completely one-sided unless you *really understand* how inventory circulation works, financing, as well as Mannheim (also owned by Cox Automotive) shares data with other dealers for IF sales vs MMR values (which are totally out of sync, even among dealers at times). At least with a house it's all public information. This is why whenever I approach a dealership I always start with pleasantries and professionalism, but once the bullshit starts I ask them to be upfront and honest; I understand how the valuations work and what current market conditions are. I know they need to make a profit, but I have no patience for anything obscene. A couple times they continue with the bullshit and that's when it gets really fun in the lobby; when you start explaining to other clients about how they actually use Black book for valuations and Blue Book is just a market funnel for low-ball offers. I then give them sites to look at black book valuations *FOR FREE*! It's usually at that point they want to be big boys/girls and not mess around, or I just walk out and the sales manager starts calling to ask me to come back and I'll be dealing with them directly.

[@goodfellatony84]

This depiction isn't entirely accurate... I've been trading and buying cars for over 20 years ( upwards of 20 cars owned) and I've NEVER had a dealership increase their offer by $3000! I've always negotiated trades and routinely it ended up being $1500-2000 max. Anything more asked for, they would rather lose the deal. This is especially true in the current market where there is a supply shortage of vehicles for sale.

[@jbarker258]

Idk it doesn't seem too unrealistic I just sold a car for 19250 they started at 17000. It only took like 20 min.

[@normankujawski543]

In California there is no tax savings for a trade in because you are taxed on MSRP regardles of trade in or discount.

[@lusrodriguez8769]

dealers must really hate you guys but we love u guys at this end of the table thank you

[@aaroncatolico7550]

Yeah, but notice the affiliate links in the description of his videos. He could pretend that they really used these services in order to get you to purchase these services while he makes profit and knows that he never really used them. The video is just to entice you to order.

[@curtis4982]

Lol about 10 years ago I traded a 2010 Impreza for a 2015 ford focus ST. The trade in took about a half hour. Initially the salesman said $6000 was their top offer, once I said they’ll have to do better he said $6500 and I showed him the resale value at both dealerships and the blue book values online; I was content to settle for $10K. He comes back with a $9K offer and I said no, he then comes back as I’m about to leave and said $10500 and I’d get taxes on top of that so it worked out in the end

[@Fred2-123]

My state (Arkansas) rebates the sales tax if you sell your old car within 60 days before or after you buy the new car. Can be sold to a dealer or to a private party.

[@batsonelectronics]

it is really simple and I used it when I bought a used car 2 weeks ago. Know how much the car you want is worth and know what your car is selling for in the market.You should get their car for no more than market value and they should pay no less than 1000 below your cars selling price. If that 1000 means too much to you, sell your car yourself and hope you get the extra 1000. In my deal, I got them to come down 2K on the car I wanted ( they were 2K above market ) and I got them to come up 2K for mine. ( I walked out and went home when we were 4K off of a deal - they called me the next day and gave what I wanted ) I left around 800-1000 on the bone for them and got proper value for the one I bought. We both got something from the deal. The real trick is be ready to walk away. I went thru 4 other cars before this deal finally worked out. Not having to sell my car and having more to put down ( lowered my interest rate and payments ) was worth it to me.

[@GusClerici]

Excellent advice and example on how to negotiate your trade-in It took me back to my old days when I used to do Role playing with my sales team and it was always kind of awkward for them, don't know why I guess not everybody was into acting

[@yellowsnowman9157]

Terrible managers do role playing. Give people the tools to sell and let them sell using their own way without you micromanaging

[@GusClerici]

@@yellowsnowman9157 Role-playing is also a tool to practice the tools to sell IMMO But who knows, maybe I was a terrible manager 🤷‍♂

[@yellowsnowman9157]

@@GusClerici better strategy is attend a sales call with your team member, let them take the lead, and after the meeting provide feedback. Role playing is not natural this a waste of time for everyone.

[@GusClerici]

@@yellowsnowman9157 Absolutely that's how I do it To me Role-Playing even when it was not natural (acting) was like training for a game. You don't go directly on the day of the game and enter the pitch to play expecting to do everything right, right? I know It's stressful and hard and all, but it's better to sweat it out in peace than bleed on the battlefield All in all, there are no magic recipes for leading a team and getting everybody happy but hard work accepting the learning with trial and error and always looking improving your craft

[@theerascal8050]

Generally it boils down to two things, do your research and apply common sense Theyre there to make money. They dont gaf about ur wants and needs unless it correlates w their own gains

[@scottwarner1017]

Laura almost had Ray sweating & it was only make believe. Well done guys.

[@bruceleeupk]

Only sell for 2k less than what they are selling for at the dealership. Kbb isn't catching up to sales

[@Jackdiddly1]

Until they pull up the kbb and say we'll you diddnt disclose everything properly and then re do it correctly then it becomes invalid. I've seen it so many times. People come in with kbb then we input it as a dealer inspection and it's off. Ac hot, tires bald, smoke smell, drives like crap. I've also seem them go threw no problem. Don't like the the assment

[@wasupfool5692]

Went to trade our CRV in last month on a new one. They offered us $17,000 on trade yet they had the twin to it on the lot with more miles for $29,000

[@professorchaos9]

Did you end up trading it?

[@Marktec]

Great runt-through! I wish all the dealers were that receptive! Nissan is still arrogant and plays hardball. They swing for the fences with every sale and would rather lose the deal instead of negotiating.

[@tjbutler8945]

Same issue With Nissan Dealers in Iowa

[@sseraj2898]

Wow that was an excellent video I thought when u said tax saving i was thinking I will be saving tax on the entire transaction including a new purchase Let me just give you an example and tell me if I’m correct Suppose I want to trade in my Toyota Camry with Acura MDX Camryworth 15 k Acura MDX is for 48k 48k minus 15k is 33 k On 48 k the tax at 6 percent is $2880 but now after the trade in it will cost 33k 6 percent tax on new value is $1980 $2880 -$1980 so I saved $900 in tax. Great

[@johnzugg8340]

What is the out the door cost?

[@NotShowingOff]

The dealership will simply tell you to take it to the place that’s ready to give you a cash offer. They aren’t going to outbid each other

[@davearchbell9921]

I recently told them I need to add delivery to my trade in price as they charge me for delivery on the new vehicle 😂😂

[@FC-cz6zd]

OK this is weird. Long story short. Recently bought a low miles 2014 Forester Limited via auction, Manheim. Have purchased 2 vehicles same way, all good. This one, we got conned. Stuck with it. Having to fix a lot of stuff. On the path now to either trade in or privately sell. Unfortunately, we're already upside down with the cost of repairs and having bought the car at the worst time (bad on our part). Anyway, thanks for all your great educational videos.

[@shackrat2331]

How did you get conned? Did you contact arbitration about your concerns? What color of light was it sold under? Were you at the sale or do you have a "Guy" that has a dealer license? Maybe you should have went to a reputable dealer and paid market price and not worried about fixing a lot of stuff. Were you planning to flip the car? Sometimes your the bull, sometimes you get the horn. CIAO!

[@dennisd9554]

Thank you for the info on the tax savings. I didn't realize that it reduces the NET on the new car when you trade in, so that essentially lowers the taxes on the new car. Here in CT, that can be significant because the tax rate on a car $50K or above is 7.75% whereas the tax on a car below $50K is 6.35%. If you're buying a $55K car, having a trade-in more than $5K pushes you into the lower bracket, saving potentially $140 for every $10K of the car. On the downside, in CT we pay a $100 trade-in fee to the state. But I think that is regardless of who you trade it in to, so dealer or CarMax you still have to pay it from what I understand.

[@omarijohnson5236]

Appreciate this information tremendously!

[@philipdishongh5074]

Dealer wants to know my payoff in order to give me a trade-in quote. How should I handle this? If been paying extra payments, therefore my payoff is lower than it should be based on age of vehicle. I want to say “my payoff shouldn’t matter for your quote of value for my trade-in vehicle”.

[@michaelcrisafulli6034]

Just had this happen the other day. I am trading a 2021 GMC Sierra Denali with only 17500 miles. All the info I've seen have my truck valued at 48,000 or more. The dealership offered me 42000 dollars and wouldn't budge. Told them I was insulted by this ridicolus number and walked out the door

[@julioportillo6053]

Excellent video as always! In Regards to the tax question, the rebuttal and question I would have posed very calmly to the fictional dealer would have been, “What makes the dealer entitled to MY tax entitlement?” Watch them squirm or not squirm and ask to have the value based on the vehicle itself, not the tax savings I am owed and voted for by the state.

[@stevemccooleq]

They would not squirm. The tax credit is given when you trade the vehicle in for another vehicle so it is pertinent to the trade in conversation. "Unfortunately by our assessment the most we can offer you is $14k. But you must factor in the additional $840 tax credit that you will NOT receive if you sell the car to someone else as well as your additional time and trouble of taking the vehicle somewhere else to be bought."

[@Oxios]

@Stevo I'm a dealer employee and sold plenty of cars, but evem I would admit it's still not something they're really trained to deal with. Oh, hey, tax savings. Cool. Notably, I've worked in GA and SC and selling cars there's a lot of customers buying between states. Someone buying a car GA but living in SC would not care about tax savings because the sales tax maxes out at $500 by law. But the car doesn't lose value just by going 10 minutes over the border to another state. The state is providing the tax savings, so the dealer can't take credit for providing it. Nor are they going to sell a car for less to a customer where their taxes are higher. It's not salesmanship, it's a shell game. Trying to negotiate with the customer's money, literally. And fine, salespeople can try to do it, but it doesn't make it right.

[@orod-iy7lw]

Last time i bought a car i told him if he can change the tires and ill buy the car, he said no and just got up and left. Dealerships have becomed a manipulative and greedy experience. I cant imagine being a salesmen and giving out good deals so i guess it makes sense i just hope dealerships close for ever and we buy straight from the manufactorer

[@djbosseq2]

When you tell a dealer you did research on used car or trade in values, they often come back with something like this and ask you...is that an offer to buy? If you do have a good proce, they often give up and say well that might be your best option (selling to whoever gave a better price). Many sites do offer to buy, but many don't. Usually the ones that do buy are lower than ones that are just price/value sites.

[@Ken-qq6gp]

Sales managers and salesman are con artists. Like he said OUT THE DOOR PRICE is what you want . Then deal

[@Genuinelycuri0us]

Is there a way to not only negotiate your car value but also negotiate down the price of the vehicle you’re trying to purchase in the trade in?

[@silentnoise6404]

You DO NOT want to do that. First step is to avoid saying you have a trade in. Focus on getting the low cost of the new car. Then bring up on second thought I have a trade in as soon as you signed to an agreed price for the new cars MSRP. Treat both as individual transactions to get the most. Do not intertwine both, they will low ball you on either transaction if they know.

[@SM4YL-LA]

I currently own a 2020 Chevy Camaro that has a value of $27000. However, I still need to pay off $12800 for it. My intention is to trade it for a 2023 Cadillac CT5. Can you advise me on what to do based on your experience?

[@dustinjohnson1410]

Bought a new truck this summer. When I told the dealer what Driveway offered me for my potential trade, he told me to take the Driveway offer. This all happened after we negotiated the price on the car I was buying. Dealerships like to play Three Card Monty with their customer by mixing trade, down payment, and monthly payment. Once learn to deal with OTD price and treat the car you are buying and the one you are selling as two as separate transactions, the process speeds up and the price gets better.

[@QueendomCome621]

Same here. Bought from a good dealership who didn't try to screw me over. They encouraged me to sell to Carmax.

[@jonmurman8117]

Tax savings are a "ZERO" factor on acv

[@augsburgbiblechannel9246]

So I preordered a car that's coming in soon and they gave me a price what they would pay for my current car a "locked in price." . I think I want to just keep my car now instead of trading it in I don't think I'm under an ethical or moral obligation to sell it to them what do you think?

[@GabrielPineyro]

Of course you're not obligated. I'm in a similar boat, ordered my car, $500 deposit down, but after finding this channel and learning all about the "stealerships" I don't think I want to go back nor trade in my truck. I prefer to lose the $500 or get a credit as it was stated it was not refundable.... I know i know, stupid move by me 🤦🏽‍♂️

[@CarEdge]

You have neither a moral or ethical obligation to trade your vehicle. What you allegedly have is a "locked in price" for your trade if you do decide to trade it in. All the best, Ray

[@augsburgbiblechannel9246]

@@CarEdge well I bought the HRV last evening. F&I and sales woman were very professional. It was actually a pleasant experience and the finance person wondered if I had worked at a dealership, but actually I watched YAA videos. It was so good an experience I have a positive view of buying again from that dealership. I also had to check my attitude going in and prayed a bit about that.

[@CarEdge]

Congratulations! I am so happy that things went smoothly for you. All the best, Ray

[@GabrielPineyro]

@@augsburgbiblechannel9246 Can you share the dealers info?

[@bluestonemetallic7]

…tried to trade-in my late model mint condition w/ extremely low mileage BMW G30 few months ago, was told the value was merely $40K…needless to say, I walked out w/o sayin’ anything to that 🤡.

[@concken1]

What states have a tax savings if you trade it???

[@deadrisingplayer]

I wonder if these guys ever go to a real dealership and show us then how it's done. These play acting a are fine but I want to see a real one and go in their favor.

[@ajballa555]

cant record in there its illegal and easily done by members check the success stories in the community section

[@jae2457]

Good day sir have a brief question. May a dealer 30 days after purchase ask you to come back in and do the finance again because they dropped the ball ? Asking for a friend in Emergency situation. Thank you in advance.

[@MFR22]

That question needs more details. When you say they dropped the ball, do you mean the deal did not get funded? If so, do you know why? Was it the bank requiring more information that you did not provide after the fact? Was it a paperwork issue That they performed to say come in and finance again that could mean many different things. Depending on the situation, they can definitely have you come back in. When you finance, the bank, that actually does the lending can require additional information later. Also, when you sign a spot delivery agreement, you are agreeing that you Will sign certain documents later, if they are overlooked as they are doing their best ability at the time to handle all paperwork, but depending on the paperwork that needs to be signed later, It may or may not apply.

[@jae2457]

@@MFR22 thank you for your reply. After getting some more context. It seems the dealer did not provide the bank sufficient information that we left them with. Seems no one was paying close attention dropping the ball. Therefore neither deal was funded. Thanks.

[@myvalium1]

Great illustration of the trade negotiation process. I’ve found that the dealer will, at best give you auction wholesale value at the time less the calculated tax savings. They shouldn’t profit from the tax savings, but they know it’s easier for the customer to “break even” rather than go through the hassle of selling independently.

[@UtubeAdviser]

she's wrong. just because you did research on similar cars like yours has nothing to do with what they are offering you. No car online is going to be exactly like yours, fox example mileage, scratches, dents, interior stains, etc.... etc... there are sooo many variables even if you compare the exact same year, make and model. People don't seem to understand this part. If you want to know exactly what your car is worth, go to a privately professional appraiser to get your car exact worth to turn that into the dealer and compare what they are offering.

[@DynoDieselWagon]

Manheim Market Report ( MMR ) or BLACK BOOK ( B B )

[@bradhampton6457]

Very seldom do you come out ahead when trading in your car at the dealership. Especially in today’s market. With so many repos flooding the market there’s a glut in the marketplace.

[@TheD1a2v3e4]

When I think about that deal I would have negotiated higher on the trade value based on the fact that the third party company was willing to pay 15K and still make a profit. I would have asked the question. How dose the third party company still make a profit by giving me the full 15K? I think 15K plus the tax incentive is a fair price. The tax incentive is costing the dealership nothing that is the governments cut.

[@Guerrero3546]

I respectfully say I have other options and that’s not gonna work and i get up and start walking out. If they really wanna make a deal they will stop you. If not it’s time for option b. Then c. Earnhardt has been the best for me. Also talk price first. And never take the first 3 offers. Do not buy any of the bullshit especially when you talk to the degrading loan officer. Good luck anyone who reads this.

[@AceVenturaXii]

Outstanding video. Thank you for this.

[@ulykethat]

Yeah, didn't work for me. Tried this all weekend...

[@sebastianpinto6514]

I don’t see any option on your website for Canada, is this something that will be coming soon ? 😊

[@dt8787]

Yea, I was wondering that, too.

[@pilotgirl5953]

me three

[@ZiadCh]

I wish if it was that simple.

[@kingapri8794]

Thank you for the offer, it's very generous, but it's low.

[@solidstream13]

These are my favorite videos on your channel. Now can you help me buy a house. 😂

[@larryaugust8205]

If you get up and walk,they will be more receptive,they don’t want to lose a deal

[@allthatihave14]

Anybody know if I can trade in my car that needs a engine? Not a engine rebuild. If so how would I go about it? because I heard yes and know but I need more input

[@GabrielPineyro]

I'm trying to trade in my 2015 Ford Transit 350 Mid Roof Cargo Van and went to this dealer that offered me 35k but the math wasn't right and I had to run from there. Where can I find an honest dealer? smh 🤦🏽‍♂️

[@PS29-83]

How do I figure out if my state offers the tax savings I’m in Georgia

[@j29maniac]

The answer for Georgia is "yes".

[@JohnnyLightning716]

So I'm thinking of getting a jeep from carmax and I have a 16 camry that's worth 11k and I owe 6300. KBB has it at 11k. Do you think asking for 1k more then what my car is worth is worth asking or should I just stick with 11k if they offer it. I'd be looking at 4700 down but the extra 1k would get me closer to the 6k down-payment and ill just put the extra 300 towards the truck and cover tax and title fees. The jeep cost 23k. And KBB has it listed at around 16-18k private party 14-15k trade in.

[@rbmoose22]

Our Dealership, Dewey Cheatum and Howe would love to do business with you !

[@BucksMom218]

That was a law firm in NJ 😂

[@indycharlie]

🤣😂🤣👍👍

[@CarEdge]

Yes, Dewey, Cheatum and Howe is law firm that represents us at Gotcha Motors. All the best, Ray

[@Cinder-g2o]

@3:13. "in this state you get a tax savings to trade in your car". I've had dealers try this approach with me before, but it doesnt make any sense to me. Someone please educate me as to how this process works and if there is an actual benefit to me or if dealerships are just bullshitting. Because in my mind, they are trying to take credit for something they arent themselves doing. Im glad the IRS wants to throw me a bone, but that doesnt mean you can as a result undervalue my tradein. someone feel free to correct me if im wrong.

[@MnH-pq5nd]

I bought my truck for 85k.tax on that is $11,050. But,I traded in my other truck for 20k. the total cost of the new truck is now 65k. And tax on 65k is $8,450. So you’re saving $2,600 in taxes. So really, the trade in of my old truck was worth $22,600. Not just $20k. Hope that makes sense.

[@SiegeX1]

Ray, shouldn’t the trade-in discussion happen *before* the purchase vehicle discussion? If you are a savvy YAA member and grind them down on the purchase price and then discuss trade-in, they’ll just make up the difference by low-balling the trade-in price and playing hard ball. If you do the trade-in first and get a fair price, the dealer doesn’t have as much leeway on the purchase price since the MSRP and/or dealer suggested price is already there as a starting point to move down from. Either way you do it, they are going to try to make up the difference on the other transaction, but there is more opportunity for them to make it up on the trade-in, so negotiating that first seems to be in the best interest of the consumer. Do you agree?

[@brucey5585]

😂went to their site and tried it. Told me there are no offer for my truck. So this video didnt help much.

[@marshallgraphic]

Does a trade-in REALLY lower the sales tax on the OTD acquired vehicle?

[@CarEdge]

It does in states where you get a sales tax credit for the trade amount, however not every state offers that credit. Read about it here: caredge.com/guides/car-trade-in. All the best, Ray

[@marshallgraphic]

@@CarEdge Thanks, I am learning a lot from your content. Sometime in the distant future, I want to get a new car but I don't want the current loan rates!

[@kenchief5868]

I would have walk out after Ray could not give me a better answer about the $11k offer

[@ctrguy]

To be perfectly honest, if anyone is into cars enough to even be watching this vid/channel, then why the heck do you not also have the patience & gumption to sell your car yourself for more $$ on the private market?? 97% of the time you’ll get more money selling your car on your own. Please tell me how/why/if I’m wrong.

[@jimmysjohn141]

Another trick when negotiations fail and a deal can't be reached is you ask them where the next closest dealership is. Never tell them your name at the start or mid deal but only do it once you're happy with the negotiations.

[@Bonezz024]

So you neglect telling people your name when they introduce themselves? That’s weird af lol

[@notinmyUSMC]

The role playing is very helpful. Thanks much!

[@UltimateBargains]

I prefer the Bernie Mac negotiating style in the Ocean's Eleven (2001) movie when he was buying the 3 vans.

[@andreaflowers8527]

😆

[@FungoLingo]

"Trade in," verb. "Trade-in," noun. FYI from the grammar police.

[@M5_Sonu]

' it's a generous offer ' to ' it's low .. really low ' to ' lowball offer ' 🤔

[@RexenPrime]

I wanted to trade in my car back in february or march. Blue book value was about 24k and I even saw one like mine listed online at a nearby dealership for 24k (among others listed online several miles away in that 24k range also), similar age and mileage. I went to the dealer I bought my car from and they ended up offering me 16k. I take great care of my car, oil changes and services, keeping it clean etc. I was so angry I had to leave before I said or did something stupid. I wasnt expecting 24k, maybe closer to 19k. I even have a few desirable add ons to my vehicle that would likely have made it sold faster if put on market, like oem fog lights, leather steering wheel, seat heater, alloy rims...on top of its very good condition mechanically and otherwise. They low balled me so bad I couldnt handle it, so I walked out. I later went to another dealer nearby and they offered me 17.5k and If I had known how to negotiate Im confident I couldve got my desired number or close to it. I never traded in my car in the end though. I ended up not being able to justify the loss I would take if I had traded my car in.

[@ed5308]

You do know that dealers make more money off of used cars that they lowball offer because people either do not want to deal with the hassle of selling themselves or they just want to roll over the money into the next car. Dealers are not being dishonest. They are testing you to see if you will bite. If you do not bite they will sell to the next sucker that comes along.

[@CandycaneBeyond]

Which is why you have the upper hand in this situation. You don't NEED a car, you WANT a car. They thrive on desperation

[@Mrtellitlikeitis]

Your first stupid mistake is thinking your add ons are worth something

[@sadTimeSwordNoises]

any links for tax savings on trade ins per state?

[@Aztahs]

The bracelets clacking on the laptop are throwing me off

[@callmefrog76]

The cringe of a dealer grasping at straws because they know they’re not the one in control anymore 😂😂😂

[@Tay234.]

Give me what I want or I’m gone to the next. I ain’t doin all that

[@nprad]

I disagree with this point of view that $14k with trade in tax credit is same as $15k without. It means car is worth $15k and you are giving away the tax credit ($850) to the dealership. In this situation, I would rather give it to the govt in the form of tax and hope they use it for betterment of society.

[@weaver909]

The best way to get the most money for your used car is to total it! 😂

[@jeremywheten6674]

So I have a question... I just bought a 2022 chevy silverado custom 2.7L 4-cylinder Turbo and watching these videos, I totally got screwed. The MSRP was $50,000 CAD and I ended up paying $68,000, would it be beneficial for me to sell it back for just under $60,000, which is what it's listed for used on market, and get something cheaper but be more mindful with your tips?

[@CasperTheFriendlyGhost777]

Voluntary Repo

[@attila7092]

And maybe throw in the 100,000 mile warranty?

[@rheijm9201]

Dress4 negotiations..smart woman.

[@BigPaulsgarage-v9p]

Now in the my world, I would say Ray, because you tried to low ball me on my trade in instead of being fair from the beginning, I want the whole $15000 or we don't have a deal. He will come up so more. Then I will ask, that is the final price right? I buy your car for $XXX amount, you give me $14750 for my trade and swap keys. No other charges and fees snuck in when I get to the back room? I HATE CAR DEALERS!

[@pilotgirl5953]

excellent !!

[@lisaromeo8931]

How much do accidents impact pricing for real? It appears no dealership will trade-in or buy my 2013 kia optima LX for a decent cost, in fact low ball offers under 4k and I still owe 8k. It's got 3 accidents on carfax ... passenger door one before we purchased and two rear ends since, a month apart from one another. I'm thinking we are just gonna have to sit content with my optima amd drive it to the ground.

[@shackrat2331]

What you owe has no bearing on what the car is worth. It's a 10 year old Kia that has been pummeled like a piñata, what did you think it would be worth? CIAO!

[@lisaromeo8931]

@@shackrat2331 it's worth 10k tbh but thank you for your candid creative illustration.

[@shackrat2331]

@@lisaromeo8931 $10K? Based on what? All the best and good luck getting rid of your car. CIAO!

[@lisaromeo8931]

@@shackrat2331 keep in mind that's Cdn value. I actually believe I'm keeping it and waiting on an SUV for another year or two. It's great on gas and has two sets of amazing tires and is great for our cold winters and hot as heck summer. Cheers.

[@QueensJahJah]

Excellent

[@DontworryImnotpolitical]

I thought it was a Cap 1 rep in the back lol. Let’s just meet in the middle. Can I offer you a Diet Coke or a coffee?

[@sammiekaymusic]

hahah trading in my 2014 jeep as well

[@d.l.bamlett4393]

I'd never say "Your offer is generous unless it is".

[@bruceleeupk]

4:30 look like she was going to slap him 🤣

[@tnen559]

Amazing role play! Wish you'd have broken it down afterwards though

[@Fireworxs2012]

*There's a reason, Lawyers, Thieves, TV Evangelist's and Used Car Salesmen are all in the same ethical group. This Guy, just proved it*

[@johnlacroix1639]

WOW 1st class very kool great info.,, AAAAAAAAAAA++++++++++++ again great video I liked it a lot ,keep up the great work.

[@mz8393]

Offer was generous but it’s low….lol

[@Twobarpsi]

Epic!

[@papaguinea9618]

WAIT! WAIT! WAIT one dang minute! You still screwed her out of $1k. Did no one catch this? Maybe I’m wrong…. But you offered her 14k + a tax break on money to which she is not responsible to pay . Being a separate transaction… You (the dealership) as a buyer of her car are responsible for the taxes… as she is responsible for the taxes on the new car she is purchasing from the dealership… furthermore the scenario also seems to state that the dealership has the intent to charge her for its responsibility to pay the amount of tax due (hence the tax break) for her selling her own car. Am I wrong? Love your videos and channel btw😊

[@dr.who2]

Taxs saving is because you already paid tax on it everyone should know this

[@CatholicChristian51]

So just say how much you want, get to the point