Okay…let’s see how this one works, because this one…well

Hyundai’s new commercial promises to give you $1000 more than your trade-in is worth.

For those who are not immediately saying “wha—?”, let me shed some light here. 

I know of at least 6 different sources that are used by dealers to help evaluate trade-in values.

None of these are commonly known or readily available to buyers, and it is impossible to predict which will be used by your dealer.

The only ones we KNOW won’t be used are the trade-in values listed at well-known car buying sites like Kelley Blue Book (KBB.com) or Edmunds.com.

Additionally, the sources dealers use are only a starting point, with the variations dependent on ‘what it will take to make your car ready’ for either an auction or a lot sale. Things like tires and brakes and “wear and tear” will alter the final number.

Here is the takeaway: For every dollar “over value” they give for your trade, this is another dollar you must pay for the one you are buying. Of course. This isn’t trickery, this is just business. If you are able to whittle the deal down to the bare bones, you are still trading trade money for purchase money. Otherwise, they would go out of business!

The ‘over-allowance’ is a part of many car deals. It only means that to make the deal, they had to ’show’ you a higher amount than your trade is actually worth. They figured out that your hot-button was the trade in amount, so they had to make a concession there.

This is a routine element of the odd dance between buyers and sellers of vehicles, and when the deal is closed at the end of the day,  this amount is subtracted from the bottom line.

The best source I have found available to the public for trade evaluation is http://www.nada.com, so try this and adjust a little for mileage. NADA lists only by model-year, but is still the most accurate I have found. If your own mileage is far off the average mileage of 14k a year, just make the necessary adjustments.

To recap…SELL IT YOURSELF! Make your plan for your next vehicle, sell your old car, rent a car for two days, get your money, find your car, find your dealer, work your deal, THEN…go on in and get it.
 
Drive Happy!

 

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