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So I hate buying vehicles but...

April 20, 2016, 5:02 p.m.
Posts: 14533
Joined: Dec. 16, 2003

How the heck is a guy supposed to figure out what vehicles are worth? Trust the dealer? Ugg. Canadian Black Book, VMR? Autotrader comparables?

I've been sniffing around at some new vehicles these days. I'm trying to figure out what my truck is worth on a trade.

CBB says $20k-$23 trade in value
VMR says $22,950 wholesale
Autotrader comparables go from $26k-$28

2 dealers offer me $16-17k

On top of that, the vehicles at the dealer that I'm looking at (used) are priced at around $4000 more than CBB says is the average selling price and $9k over what VMR says is retail pricing.

Are these "guides" online completely out to lunch?

I guess in the end things are only worth what someone will pay for it, but this was a harsh reality check.

April 20, 2016, 5:13 p.m.
Posts: 750
Joined: June 2, 2003

This is how I usually start when trading in at a dealer on a used vehicle they have sitting there. Look up my trade's value on CBB, look up the value of the used vehicle I want to purchace on CBB. Go into the dealer and start with the difference between the two. Don't get hung up on what they are worth, focus on the difference you will be paying. I always tell them they can write whatever the hell they want for values on the sales agreement, all I care about is what I am actually paying out of pocket.

As you probably know, there are usually large mark ups on the price they ask for used vehicles at dealers.

"Dont be fooled Timmy, if the cow had a chance he'd kill you and everyone you love."

April 20, 2016, 5:28 p.m.
Posts: 11128
Joined: June 4, 2008

Markups are different between Zee Germans and the Americans too.

Find a car you like, figure out how much you are willing to pay for it then get a bank draft in that amount.

Try and buy at the end of the month, end of the quarter if possible. Show them the bank draft and tell them what you want and that you aren't going to pay for the tire-cleaning, the seat fluffing, the freight or any of that shit.

When they say no, give them your number and tell them you're off to the next dealer but the offer still stands.

It works.

April 20, 2016, 5:47 p.m.
Posts: 750
Joined: June 2, 2003

So do you just walk around with a blank $40K (or whatever) bank draft until you figure out where you're buying the car? Better not drop it :|

I've always found a deposit is good enough for them to hold it until you come back with the cash (bank draft).

"Dont be fooled Timmy, if the cow had a chance he'd kill you and everyone you love."

April 20, 2016, 5:50 p.m.
Posts: 11128
Joined: June 4, 2008

So do you just walk around with a blank $40K (or whatever) bank draft until you figure out where you're buying the car? Better not drop it :|

Nah, I suggest knowing exactly what you want, down to the options and then go out to the dealers that sell them.

April 20, 2016, 5:57 p.m.
Posts: 750
Joined: June 2, 2003

Nah, I suggest knowing exactly what you want, down to the options and then go out to the dealers that sell them.

For sure, but walking around with a bank draft with the payee space blank can't be a good idea. Will the bank even issue a bank draft with no payee? I really have no idea, I always just leave a deposit then get a bank draft when I go to pick up the car.

"Dont be fooled Timmy, if the cow had a chance he'd kill you and everyone you love."

April 20, 2016, 6:03 p.m.
Posts: 14533
Joined: Dec. 16, 2003

This is how I usually start when trading in at a dealer on a used vehicle they have sitting there. Look up my trade's value on CBB, look up the value of the used vehicle I want to purchace on CBB. Go into the dealer and start with the difference between the two. Don't get hung up on what they are worth, focus on the difference you will be paying. I always tell them they can write whatever the hell they want for values on the sales agreement, all I care about is what I am actually paying out of pocket.

As you probably know, there are usually large mark ups on the price they ask for used vehicles at dealers.

The first dealer offered $17 for my trade and didn't budge from his $34k asking price. I told him I was looking for $9k difference and he just said he couldn't do it.

The second dealer offered me $16-17k. This after him recommending me to check out the CBB for approximate values…then offering me 25% less. I could understand if my truck was a bucket of crap, but it's pretty mint shape for it's age. I'd rate it a high 8/10.

April 20, 2016, 6:15 p.m.
Posts: 750
Joined: June 2, 2003

Just walk away then. Unless it's some sort of super rare vehicle, another one will come up somewhere else.

While looking for my current car I had one dealer that wanted $8k more than the difference I already had a quote from another dealer. Identical year/model/option/colour and near identical mileage. They said they weren't willing to budge so I said thanks and walked away. As long as you know what you want and are willing to jump on it when you find a fair price all it takes is time.

"Dont be fooled Timmy, if the cow had a chance he'd kill you and everyone you love."

April 20, 2016, 7:25 p.m.
Posts: 623
Joined: Sept. 7, 2011

I just went through this with my wife's car. we ended up buying a new car in Kelowna instead and got a much better deal and twice as much for our trade in.

April 20, 2016, 7:25 p.m.
Posts: 14533
Joined: Dec. 16, 2003

When I quizzed the second dealer why he recommended using the CBB to get an approximate value and then offer 25% less, he blamed me for not bringing it in to get a proper appraisal. I then asked if it would have been better to waste a few hours of my time to get lowballed rather than by email. That's the precise reason I asked for a ballpark appraisal by email. (I had already been in and test driven the vehicle)

then I thanked him for reminding me why buying vehicles was such an unpleasant experience

Not gonna lie, this shit exhausts me.

April 20, 2016, 7:29 p.m.
Posts: 7707
Joined: Sept. 11, 2003

Don't worry, economic theory agrees with you.

https://en.wikipedia.org/wiki/The_Market_for_Lemons

April 20, 2016, 7:45 p.m.
Posts: 14533
Joined: Dec. 16, 2003

Don't worry, economic theory agrees with you.

https://en.wikipedia.org/wiki/The_Market_for_Lemons

you got a translation of that for dummies?

April 20, 2016, 7:46 p.m.
Posts: 193
Joined: Nov. 23, 2002

When I quizzed the second dealer why he recommended using the CBB to get an approximate value and then offer 25% less, he blamed me for not bringing it in to get a proper appraisal. I then asked if it would have been better to waste a few hours of my time to get lowballed rather than by email. That's the precise reason I asked for a ballpark appraisal by email. (I had already been in and test driven the vehicle)

then I thanked him for reminding me why buying vehicles was such an unpleasant experience

Not gonna lie, this shit exhausts me.

figure our what you want to pay after your trade in value and say i'm ready to drive home with that vehicle now for this price with my trade. tell the salesperson to either say yes or no so you can move on to the next dealer instead. your will to get the deal you want has to be stronger than their desire to take as much money as they can from you.

context is everything

April 20, 2016, 7:52 p.m.
Posts: 11128
Joined: June 4, 2008

For sure, but walking around with a bank draft with the payee space blank can't be a good idea. Will the bank even issue a bank draft with no payee? I really have no idea, I always just leave a deposit then get a bank draft when I go to pick up the car.

Not blank.

It costs dollars to get them printed.

But if you want the tables turned in negotiations, there is no equal.

April 20, 2016, 7:57 p.m.
Posts: 11128
Joined: June 4, 2008

Not gonna lie, this shit exhausts me.

If it didn't, car sales would be a vastly different space than it is now.

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