How bad was my trade in?

[Broch]

I sold my 95 viper with 22k miles on it. It was near perfect for $22K on a trade in. How bad was this? After a few days I'm starting to feel like it was the worse trade I've ever made.

I paid $38K for it in '07.

BTW, they are selling it for 29K now.

MODERATOR EDIT: NO LINKS PLEASE.
http://cgi.ebay.com/ebaymotors/1995...9214494?pt=US_Cars_Trucks&hash=item3a65fd7c9e

 

[v10enomous]

Prices have jumped up on the earlier cars just recently but did you really expect to get good money on a trade-in ? Did they the base the new vehicle price on sticker too ?

 

[eucharistos]

as long as you got a good price on the new car too, you didn't do bad for the ease of trading it in

 

[costanZo]

What did you trade it in for?

 

[Vipuronr]

Agreed on the above. Trade-in prices are never good, but with the glut of 2010's around, you should have been able to negotiate a good price on the new one....unless you got a ACR-x.

 

[97snk]

I think you would've got 25k easily for that on craigslist.

 

[ACR VYPR]

Just go out and buy another one! You will quickly forget about the "old" one.............

 

[C.Hermsen]

I would have given you $22k for it :-(

 

[eucharistos]

and remember: (at least in ) the tax savings

example $22,000 x 6%=$1,320 -->$23,320 trade in value

 

[jmasin]

A wise man once said don't check the stock price of a stock after you've sold it...

 

[99 R/T 10]

you got hosed, not doubt.

 

[maxdaddy]

The true sold price on alot of things is less than you would think. When I sold my 95 rt for 21500 some here said that was to cheap, but I did post it before it sold and it took 3 trys on ebay before it sold. It to was a very nice car. you did fine.

 

[eucharistos]

A wise man once said don't check the stock price of a stock after you've sold it...

thems is some wise words - keeps you from thinking you are a genius or a putz

 

[Chrissss]

I hope you got kissed.

 

[DrumrBoy]

It does seem like you could have gotten more in a private sale...which is true 99% of the time when comparing wholesale (dealer) to retail (AutoTrader)....but that's not rocket science, its just two different levels of pricing for two different levels of value (theoretically).

On the positive side, think of how many goofballs making appointments and not showing up, or tire kickers coming by and lowballing you, or checks that don't clear, or Nigerian princesses whose family has a great deal of money and want to deposit it into your bank account that you missed out on by making a quick-sale to a dealer.

(Having said all that, I'd definitely recommend that you try the private sale route in the future)

 

[VENOMAHOLIC]

As costanzo said, what did you trade it in for? Parts value for Vipers set a bottom IMHO and $22k, I would guess, is below parts value. Personally, I would not let any Viper I already owned go for that little. Any Viper, no matter what the mileage or year, can still give me a priceless rush and a smile whenever I drive one.

 

[AZTVR]

I can't believe that you let it go for that price !!! What were you thinking ??? You must be a total ***** !!!

OR.... maybe that is what you and the dealer agreed was the value of the car on that day, in that condition, in the local marketplace and based on yours and his financial positions. NOTHING else is relevant to value. IMHO

America's most popular religion is Consumerism, and commandment number 1 is : Get a deal good enough that you can boast about it to your friends. No one really cares how much one buys or sells something for as long as you beat out any other reported sale.

 

[PatentLaw]

Wow......lots of venom here......

What did you buy and what was the price? If you bought a Ferrari for 25k, then I say you made a great deal.

So what is the total story?

 

[ViperGeorge]

For that price I would have kept it. Interest rates are still low so I would have financed a bit more if necessary.

 

[Matt M PA]

You know how I see it? If you were pleased with the deal enough to make it....it was a good deal. I think the definition of a good deal is when both parties agree. I'm sure you expected the dealer to make something on a trade, right?

They likely won't get asking price and will have to come down a little...and you got the trade tax advantage as someone else pointed out.

I don;t know the history of the traded car, but I wonder why the fog light covers are missing. Replaced fascia, repair, etc? Car looks good overall to me.

 

[PittsburghRT]

You gave the dealer a hell of a deal.

 

[toohot4u]

Well i guess if your parents are supporting your life sylte then i guess if does not matter. Forty five percent of parents are supporting their grown aged kids

 

[Jeffsss]

If it was near perfect like you say and there was no "stories" you may have been able to get 25k for it in my opinion. but then you'd have a lot of tire kickers, test pilots and people who are just wasting your time.
I think you did "okay" on trade in, it was no hassle. I personally would have given you 22k cash and listed it on ebay/autotrader and made a few grand.

 

[George Murray]

Dealers are businesses. The goal of a business is to make money. If you feel you got hosed, you did it to yourself. Nobody strapped electrodes to you and made you sign your name to anything.

In this economy, $22K trade-in from a dealer on a 1995 RT/10 is a strong number. If they have it listed at $29K, and then sell it for $27K, they'll make 2 or 3 grand on it after taxes (depending on state they're in and other factors) if they don't have to spend anything on it preparing it for sale. That's not uber-profit: they could make that on a freakin' 2007 Accord with a lot less money invested.

In almost all cases you can get more for a vehicle selling it yourself. It requires a great deal of patience, as some interested parties are time-wasting bags of dooshe (sp intentional). You must have had your reasons for trading it in.

The question from an above poster stands: What did you buy??

 

[costanZo]

OR.... maybe that is what you and the dealer agreed was the value of the car on that day, in that condition, in the local marketplace and based on yours and his financial positions. NOTHING else is relevant to value. IMHO

If this was the case, the dealer wouldn't have turned around and sold it on ebay for $29k lol.

 

[Leojmcca]

You got rid of it quick.
Even a dealer, who tend to overprice things, is only selling it first time around for $29K. If it doesn't sell, then it will drop further.
Considering that the dealer might have to sit on the car for a while, pay commission to the selling salesman, their internal costs like providing a 90 warranty etc. it wasn't that bad of a deal.

 

[plumcrazy]

Dealers are businesses. The goal of a business is to make money. If you feel you got hosed, you did it to yourself. Nobody strapped electrodes to you and made you sign your name to anything.

In this economy, $22K trade-in from a dealer on a 1995 RT/10 is a strong number. If they have it listed at $29K, and then sell it for $27K, they'll make 2 or 3 grand on it after taxes (depending on state they're in and other factors) if they don't have to spend anything on it preparing it for sale. That's not uber-profit: they could make that on a freakin' 2007 Accord with a lot less money invested.

In almost all cases you can get more for a vehicle selling it yourself. It requires a great deal of patience, as some interested parties are time-wasting bags of dooshe (sp intentional). You must have had your reasons for trading it in.

The question from an above poster stands: What did you buy??

what he said. its done, youre happy and you are done with it. move on

 

[AZTVR]

If this was the case, the dealer wouldn't have turned around and sold it on ebay for $29k lol.

Surely you would expect the dealer to adverise the car for more than he would actually agree to sell it for ? ( I don't think that anyone mentioned that it sold for that amount? )

Besides, value is usually exactly what I said. It isn't some number in a blue book. There are thousands and thousands of people who will pick strawberries for $7.00 an hour. Is that what you would agree to do that job for in your present situation? Same concept in my mind. The value of the goods or services is totally up to the people buying and selling on that day.

 

[DrumrBoy]

Dayum, $7.00! I'm raising my prices for strawberry picking! ;-)