Trade In Value and Black Book

[kizersoze]

I've been told by a dealership that they only use black book trade in value. I've never heard of "Black Book" and is this really the case, do they only use black book.

Trying to trade in a 2001 WS6 Trans Am and being told only can get 12500, which i think is rediculous. Car is in excellent condition.

Thoughts, suggestions?

 

[golf4283]

they probably mean blue book value which is the "kelley Blue Book" value of the car. I don't know how they rate values but a lot of dealers use it.

 

[VOORHEES]

Dealers do have a "Black Book" for appraising cars. Its less than "Blue Book" they get one about once a month because its updated monthly. They like to use it versus the "Blue Book"
-Jason

 

[CarrollShelby]

Black book rip car value... Specially Firebird/Camaro, because they don't do anymore??? I have in the past a 02" Camaro SS conv't 35th ann... Beautyful car! But when GM annonce the end of the F-body... I sold it right away, before loosing to much! At $12,500 it's a rip off... Kip it man, it's gone be collector's one day???

 

[OSU05stangfan]

take it to carmax to have it appraised.

 

[05 'Stang]

well guys, i hate to break it to you, but black book values are the current market values of the vehicles. there are many factors that predict what the value will be. yes, most dealers use black book values, but not all will swear by them. it is usually used as a reference or starting point for negotiation, and they will either try getting your trade just under the respective values depending on condition.

depreciation is a fact of life, and a lot of vehicles get hit hard by it. (look at cavaliers and sunfires for example, they depreciate FAST)

getting your car appraised elsewhere and taking that quote to a dealer isn't going to help all that much. why should a dealer pay higher than market value? how are they supposed to sell it and turn a profit. its a competitive industry, and everyone is out to make money, so don't be surprised when you don't get offered big bucks.

 

[05 'Stang]

oh, i forgot, as for the dude trying to trade in his 01 trans am and only being offered 12500, well, those cars depreciate hard too, but not that hard. i have access to black book values, so i will look into it for you if you can give more specifics on your car.

to me, it sounds like they are trying to screw you.

 

[holler]

sell private

 

[RICKS]

Always remember that you don't have to pay sales tax on the amount of your trade-in value, i.e. if you buy a $25K car, and your trade-in value is $10K, you only pay tax on $15K. So if there's a hypothetical scenario whereby you could sell your car privately for $10,500, but you could trade it for $9,800, you may as well trade because there's really no difference once you realize your tax savings in the trade. With that said, you can research trade-in, private-sale, and retail prices in many places online. Try:

www.kbb.com
www.edmunds.com
www.nada.com

Take what you learn there, print it, and respectfully use it as "ammo" when you're at the negotiating table at the dealer.

 

[fr96ss]

black book blue book red book nada crap book to all, the dealers use GALVES! period end of story..

 

[1wildGT]

I've been told by a dealership that they only use black book trade in value. I've never heard of "Black Book" and is this really the case, do they only use black book.

Trying to trade in a 2001 WS6 Trans Am and being told only can get 12500, which i think is rediculous. Car is in excellent condition.

Thoughts, suggestions?

They always try to take you on a trade. Sell it yourself then negotiate for your new ride.

 

[blazinsteed]

Guys black book is what they would get by wholesaling it at auction. If the car is not retail thats what they can expect to get. They will go a grand over but will use the four square to tack it on somewhere else. If you don't want much more out of it throw them a figure and walk. Let them call you. If not sell it outright.

 

[RICKS]

Not always. I just got $2,000 above Kelly blue book trade-in-value trading in my 4-year old Lincoln LS on a new Navigator for my wife, and the Nav deal was for straight dealer invoice, minus $5,500 in factory incentives, which brought it in at appr. $12 grand under sticker, then minus my trade. And I didn't have to pay sales tax on my trade-in allowance. Sometimes you can do well on a trade, if the car is well kept (it was) and you dictate your own deal. Of course, it was a whole lot easier leveraging on a late-year Navigator than it would be negotiating on an early-first-year Mustang

 

[blazinsteed]

Exactly... Mustangs depreciate fast and are a dime a dozen. Not much room to move on them.

 

[kizersoze]

oh, i forgot, as for the dude trying to trade in his 01 trans am and only being offered 12500, well, those cars depreciate hard too, but not that hard. i have access to black book values, so i will look into it for you if you can give more specifics on your car.

to me, it sounds like they are trying to screw you.

2001 Black Black Trans Am Ram Air (WS6 Package)
T-Tops
Premium Wheels
Black Leather Interior
59K Miles
Perfect condition
clean title, original owner

 

[TurboE]

As mentioned the "Black Book" is what they can go to an auction and buy the same car for. So why should they pay any more to you. If the car is in really great shape or has modifications that are condsidered something that would help sell the vehicle, then print out the kbb.com value and bring a bag of your BS like it has this and that, or never saw rain....bla bla bla and do what you can (maybe you will meet halfway between how much you blow it up and how much he knocks it down). Its stupid but the more papers in a folder and the more professional you act and the more you know about the cars the better off you are. If you know what your doing you can normally get somewhere decent, however at the end of the day if they can buy your car somewhere else for cheaper they will only go so high. They want the sale, but are only willing to "lose" so much of there profit to get it. Go to different dealers, and use that number to negotiate or just buy a car there, or sell it yourself.