Charles asks…
Used car sell/trade in value calculator?
Does anyone know how to find a good used car sell/trade in value calculator? I tried google, but I can’t find anything that can go past 1980′s. Any suggestions?
CSC101 Customer Service answers:
Www.autotrader.com
Steven asks…
what does “Estimated Trade In Value” mean? and how does it affect payments on a car (leased).?
Hey, When on a Lease/Financial Calculator when buying a car, what does “Estimated Trade Value” mean and how am i suppose to determine it?
I went on the Mercedes Benz Website and was using the Lease Calculator on the ML350 (MSRP: $40,525)
When i enter down payment as: 15,000
Estimated Trade in Value: 10,000 (im taking a stab at what it means)
Length of Lease: 48 Months.
Miles Per Year: 15,000
The monthly payments come out to be only $31 a month…somehow i just dont see that as being correct…however if I change the Estimated Trade in Value to 0, the monthly payments is 269.
I just want to know what “Estimated Trade in Value” is. My guess is: It is the value of the car when the lease ends.
CSC101 Customer Service answers:
A TRADE-IN BASICALLY MEANS WHEN U TRADE ONE CAR FOR ANOTHER ONE, SO WHEN YOU ARE ASKED WHAT IS THE (ESTIMATED TRADE-IN VALUE) YOU ARE ESTIMATING THE VALUE OR THE COST OF THE CAR YOU’RE TRADING IN AND THAT GOES TOWARDS YOUR DOWN PAYMENT
EXAMPLE: U PUT $15,000 DOWN PAYMENT
YOUR TRADE-IN CAR IS WORTH: $10,000
YOUR ACTUALLY PUTTING $25,000 DOWN PAYMENT
AND THE WAY IT AFFECTS YOUR PAYMENT, THE MORE DOWN PAYMENT U GIVE, THE LOWER THE MONTHLY PAYMENTS ARE.
Mary asks…
why do car dealerships give you nothing for your trade in?
I went on the toyota website and checked out the blackbook trade-in value calculator on my 2007 base model yaris. I entered in all the information correctly- kms,model,year. It came back with a low end blackbook trade value of $7100 and a high end value at $8900. So today I brought my car into the local toyota dealership to look to trade it in and upgrade to a newer model. Thinking i would be spending in the $4000 range after my trade in as per the blackbook valuer on their website.
I explained the situation to the salesman and what i wanted for trade in etc as per the suggested value i got off their website earlier that day… my car is in good condition.. minor scratch on the back bumper but other then that no accidents. I was expecting to get the lowball trade in value of aprox $6500. When the salesman came back he said he would give me $3000 for the trade in.
I almost crapped my pants as a year and a half ago i paid the fair price of $12000 for the car from a toyota dealership in vancouver. Surely it hasn’t lost $9000 in value in one year . He explained that since it was a base model it would be hard for them to sell and also since i bought it in British columbia and brought it into ontario after i moved here that there was no way they could verify the cars history! i was utterly shocked. esp similar model yaris’s are selling for around $9000-$12000 online at all the other dealerships.
Does anybody have any insight into this? were they just trying to rip me off?
CSC101 Customer Service answers:
First, trade ins are never very good money, they’re kinda just to get the car off your hands quickly.
Second, they aren’t buying it from you at market value to go drive around themselves, they have to resell it and make a profit.
Courtesy of Y!Answers