Inflated Trade-In Value a Scam?

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Maddog1337

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Hello Oil Connoisseurs,

I posted this over on Mustang6G, a forum dedicated to the six generation S550 Mustang, but received no replies. I'm hoping someone here has some insight.

I have a 2017 V6 Mustang with auto trans and 15,000mi. Today I received a flyer in the mail regarding a massive trade-in event from the Ford dealership where I purchased my car from. The flyer had a unique code tied to my car and a call-in number, much to my surprise, the automated line said my trade-in value was $22,300.

I find this hard to believe because sticker on my car was around $27K, and I paid $25K. KBB for my car is around $15-$16K trade-in. I know this is a typical dealership tactic, but assuming I could return the car to stock and press on the $22.3K offer, I think I'd at least have to explore it? This is my first new car out of college, completely paid off, and in my opinion, modded to perfection. I am more than satisfied with my V6, however I am intrigued about going V8 down the line. They have inventory of 2019 base auto GT's for ~$33K.

I was considering going in and just saying that if they were willing to get me in a new 2019 GT for
Thanks in advance

Edit: I'm posting my Mustang6G signature here, since it exceeds the character requirements for Bitog.

2017 Mustang V6: | 19" OEM GT Black Accent Wheels | 18" OEM 'Bullitt' Style Winter Wheels | Stock GT 2.5" Exhaust w/ Roush GT 2.5" Axle Back Mufflers ($300 Craigslist) | Steeda GT X-Pipe | Roush CAI | Roush Spoiler | BBK Oil Catch Can | Ford Performance Hood Struts | OEM GT Hood w/ OEM Ingot Silver Extractors ($150 Craigslist / $30 eBay) | OEM GT PP Front Bumper ($250 Craigslist) | Faux Fog Lights (not wired) | OEM Ecoboost Decklid ($50 eBay) | Diode Dynamic Switchback Lights | Steeda Jacking Rails | Audio - 4x Focal RCX-165 |
 
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They may give you less once they see the mods in-person. Even if they give you a so-called "good" price, that just means there'll be less wiggle room on the new car you buy. They'll get you one way or another.
 
Understand that the dealer wants you to come into the store. Then they want you to look at, touch, then drive a new Mustang. Then get the new car " red mist ... " (loss of emotional control and logical decision making abilities !)

THEN talk numbers, with a whole list of reasons why your particular car isn't worth that 22 K trade in value.

Go talk if you want, but understand that trade in number is pure fluff to get you into the store. And if you are serious, hold them to that number, and be prepared to walk if they give you excuses. And, understand that no dealership will give a FIRM trade in number without seeing and driving the car first.
 
Do they actually know the true mileage of your car?
That trade in value might reflect a vehicle with no miles and absolutely no wear and tear.
I'm not sure if I'd call it a scam, but it's definitely a marketing ploy.
 
It's guessed on average mileage. Every dealer I have ever bought from always sent me those coupons for maintenance because my car "should be coming up on its XXXXX service".
 
They will tell you whatever they feel they need to, to get you to the dealership.
 
If they're willing to offer you a super high trade value on the trade-in, then you can expect they've massively inflated the cost of the new one. They'll call it something like "local market adjustment" or something similar. It will probably be an extra $3000-7000 sticker mark-up, if not more..

... much like this one:

[Linked Image]



Yeah, they'll give you extra for your car, sure... but you'll end up paying for it if you take them up on it.
 
Thanks for all the replies. I would remove mods and return to stock.

I know that pricing has to favor the dealer in at least one way, trade or a new car sale. I had a similar arrangement when I purchased the Mustang. I live in Cook County, IL, highest sales tax in the USA. I asked for a higher value on the car I traded in, and in-turn paid more on the Mustang, but that was financially advantageous for me.

I was just thinking go in, and pose them with their trade offer, and leaving with a 2019 GT for <$10K. Their specific dealership website has the 2019 GT listed at $33K. Fully prepared to walk out if the numbers start to change.
 
Originally Posted by geeman789
Understand that the dealer wants you to come into the store. Then they want you to look at, touch, then drive a new Mustang. Then get the new car " red mist ... " (loss of emotional control and logical decision making abilities !)

THEN talk numbers, with a whole list of reasons why your particular car isn't worth that 22 K trade in value.

Go talk if you want, but understand that trade in number is pure fluff to get you into the store. And if you are serious, hold them to that number, and be prepared to walk if they give you excuses. And, understand that no dealership will give a FIRM trade in number without seeing and driving the car first.


This. They'll get you in the door, bedazzle you with information and fast talk and sell you a car.
 
Originally Posted by Maddog1337
Thanks for all the replies. I would remove mods and return to stock.
I know that pricing has to favor the dealer in at least one way, trade or a new car sale. I had a similar arrangement when I purchased the Mustang. I live in Cook County, IL, highest sales tax in the USA. I asked for a higher value on the car I traded in, and in-turn paid more on the Mustang, but that was financially advantageous for me. I was just thinking go in, and pose them with their trade offer, and leaving with a 2019 GT for div>


If you're even thinking about this you are "Prey" to the dealer.
 
They want you to feel special and of course walk into their establishment where they have the upper hand.

I received a similar letter for my run of the mill Mazda 3. I think it said my car was in high demand, or similar nonsense. I shredded it right away.
 
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I get things in the mail all the times for vehicles I no longer own.
I got one just the other day for my Scion, offering $10,000 for it due to the high demand of used vehicles in my area.
I would be lucky to get $6,000 for trade in, probably $7.500 if I were to sell it myself, and this is a vehicle with less than 50,000 miles and in very good condition.

Look around on the letter, there will be an * somewhere on there with an out of the $22,300 price.
You will get whatever they fell is the best deal for them.
If you want to test it out, walk in with the letter and ask for a check for $22,300 right now, no talk of buying anything.
They will say no.
As said, they want you in the door.
That is their world and they want to make money off of you.
 
Originally Posted by blupupher

If you want to test it out, walk in with the letter and ask for a check for $22,300 right now, no talk of buying anything.
They will say no.


This X2. I wouldn't even bother taking your mods off, unless you think you'll be able to resell them on ebay or your mustang forum.

Tell them that you'll take the check and then think about your options.
 
Go in with your trade in offer and a print out of the GT you want for $33k. Ask for the sales manager. Tell them you want the GT for $31,300 and your trade for $22,300 after they inspect your ride. $9,000 and your corrupt taxes you are still looking under $10k with that deal. I would literally write $31,300 - $22,300 in sharpie and give a copy to every new minion who approaches you. Give them 30 minutes to inspect your ride and work a deal, when they can't make it work you simply walk out and move on.

I like you Mad Doggie, a fresh out of college kid with a fully paid off and modded Mustang is great. To potentially have a brand new GT is something few of your peers could ever dream of. Or you could turn out like me, old enough to afford a GT but well past my glory days. Heck, if I was gasing up a GT and meet a nice girl I better have my pack if Cialis in the glovebox, you know what I'm saying? If I could go back in the hot tub Time machine I would buy a GT and let the party commence. Your girlfriend may hate you, your Mom may hate you, heck your dog might even turn his head away from you. Your GT will always fire up with a rumble and welcome you inside. Get it before it's gone, and you're gone. YangGang2020.
 
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