Went to two Chevrolet dealers yesterday looking to order a 08 C6. Had both of them appraise my car. It's a 2005 Sebring silver S2000 with 2880 original miles. Both dealers came back with a trade in value of $21,000 and $21,500



Kelly Blue book lists a trade in value of $23,750 and a retail value of $27,215. Now I'm not expecting to get full retail but come on, at least get close to the trade in value!!!

 

Why would you put so few miles on the car?

 

It's a dealer. All their balls are on the floor. You have to make them do some heavy lifting to get the price up.

 

Good luck with a domestic dealer. You'd get a better offer with Honda, Toyota, etc.

 

21500 is quite reasonable. You'd probably have a hard time selling it on your own for more than 23k. Trading in will save you the difference on sales tax. (Depends on your state, though)
KBB prices are always inflated. In my zip code, Edmunds gives $22,000 trade-in, $23,820 private party, $25,300 dealer retail.

Don't pay much more than invoice for your C6.

 

similar thing happened to me back in 04 I was looking to trade my 03 S2000 for a Z06 but they were only going to give me $21K for my S2000 (with hardtop). And my state we don't get to take the tax off the new car so a $30K car $1500 tax was going away also $2500 for hardtop was not being compensated much.

So in the end I stuck with the S2000 and can't be more happy with it.

 

I love people who don't understand how buying cars works. They obsess over "trade-in value," with no clue that means nothing.

A tip to the OP: trade-in value is to confuse the slow thinkers. The only number you are concerned with is the amount you pay on top of your trade-in.

 

I agree...to an extent.

What you're seeing is one of two things.
1) the dealer doesn't really want your car because they don't think they can sell it quickly and profitably. THat means, then, that they'll just send it over to Manheim to auction it. And they're essentially offering you what they'll get at auction (plus a small markup).
2) their hands are tied on the trade-in value, but they can still work with you on the price of the new car. Example: I bought a Toytota Tacoma once...I was backwards on my trade by $3000, but got the new truck for $5500 off MSRP. Not bad.

THis is only true to an extent, of course. It totally depends how backwards you are, and what the dealer's true cost it. THey aren't going to sell it to you if it doesn't make financial sense for them to do it. The C8 is going to be a pretty good seller at first, I'd imagine...and they might let you walk in hopes someone more profitable will walk in the door.

 

Coincidentally, it pays to be realistic w/ yourself and do short-trm leases on cars that you'll likely grow bored with...at least that way you have a near term, defined exit point and in this case, a 2-year lease may have saved you a significant amount of money. Hell, the residual on my 3-year is higher than the trade in they're offering you.

 

I understand how the trade in value thing works. The car is worth at least 23k with the low milage and condition it's in. If they would have come close to that I probably would have taken it just so I don't have to deal with the hastle of trying to sell it myself.

I have GM supplier pricing on the Vette.