Need help with trade in decision.

Status
Not open for further replies.
O

OtisBlkR1

Joined
Jun 3, 2009
Messages
3,258
Location
Indiana
Well, trading in my Silverado is out the door, Pretty wife found one she likes and i need some opinions.

She loves this, http://toyotaofterrehaute.calls.net/used...6a65ed562a5.htm

We have my Daily driver 07 Accord EX-L with 99,000 on the clock and in excellent condition.
We also have the 06 Mercury Milan premier edition with 40,000 on the clock also in excellent condition.

I know the wise smart play is to keep the lower milage car, However i dont love the Milan and neither does my wife.. Its a "Nice car" however we both know fit and finish the Accord is Nicer..

Trade in value is Higher on the Accord (even with more than twice the miles) by about $2,000 dollars. the Milan is worth around $8,000 on trade the Accord $10,000 Both cars are worth approximately $2000 more with a Private party sale..

Part #2 is value, this car is listed at $20,900 and the salesman said they have had it around a month, Their asking price is on the low side for retail in my area and on the top end of Private party value.. However im not foolish as to think there is no room for negotiations.. whats a great "counter offer" and whats a fair final sale price ? after i get to a good price i will talk trade with them, if they will match or meet in the middle of trade in V.S. Private Party sales i may consider saving myself the headache and just trading it.

your thought ? tips ? do's and dont's.

Thanks Otis.
 
I wouldn't trade in unless it will net you a huge savings in sales tax, or unless you are desperate to unload the car.

When I have traded in, it's because it saved me a LOT in sales taxes (in Chicago, our sales tax is 9.75%). In your case, it doesn't sound like the sales tax savings is much by trading...so I would tell you to sell privately. You should have no problem moving that car quickly.

As for the price of the new vehicle, offer them $19,500. They'll probably counter with $20,000 even, which seems reasonable.
 
I'd trade the car you're not that thrilled with. All else being equal, the car you enjoy driving (and maintaining) would be the keeper. 100k miles on a 7-8 year old Accord is pretty typical, and it should be good for another 100-150k or so given its maintenance history and your location. Your Accord will also hold its value, while the Mercury will keep dropping.
 
Don't trade it in.. sell it yourself and then use that money. You'll get a lot more for it. The stealership may say that they are giving you $5,000 over KBB... that 5 grand plus more will just be lumped into your monthly payments and the overall cost.
 
Originally Posted By: sciphi
while the Mercury will keep dropping.


This the average American does not have any interest in buying a Mercury.
 
Originally Posted By: michaelluscher
I'm so sick and tired of hearing this


So your basically saying that no one does math or reads paperwork?
We have this thing called walking away



A lot of people do not do the math and make the decision on emotions alone. Dealers are counting on that.

Heck, I have heard some people say that they didn't walk away because "they felt guilty about wasting the salesperson's time".
 
Originally Posted By: dparm
Originally Posted By: michaelluscher
I'm so sick and tired of hearing this


So your basically saying that no one does math or reads paperwork?
We have this thing called walking away



A lot of people do not do the math and make the decision on emotions alone. Dealers are counting on that.

Heck, I have heard some people say that they didn't walk away because "they felt guilty about wasting the salesperson's time".


trust me, i have no problem walking away if its not a good deal.. And honestly ive not met many "honest car salesman" We purchased the Milan 2 years ago for $10,000 with 22,000 on the clock.. Its a good car, its served us well for the past 2 years, its just not one i honestly want to keep in my fleet for another 2-3 years. I agree if one was to be traded in, It would likely be the Milan..
 
Depreciation on that Acura surprisingly seems rather high. Looking at Autotrader shows new is roughly $11k more. Not terrible, I was going to say buy new but in this case your saving about 1/3 over new.

I'd trade in the Milan its retail value is going to tank as it ages. I'd buff the car up and try to sell it private party, but that might be a PITA so I'd see what the dealer will give you for it first. If its only $1k difference I'd probably trade to avoid having to deal with used car buyers.
 
Last edited:
I would sell private party, then use that money to lower the payment on the new ride. Out of the two cars, I would sell the Milan. Both are nice cars, but if you plan on keeping either for a long time the Accord will be the best bet. 100K on that car isn't a whole lot. Besides a funky steering issue mine runs like a new one at 120K miles. Do you have the I4 or V6? If you have the 4 then you shouldnt have to worry about the tranny in it. The Milans however, both 4 and 6 have been known to have tranny problems. If you dont mind me asking, why do you need a new ride? Both of your cars are solid rides and have low miles.
 
If you don't like the Milan, dump it. Only on this planet once.

The problem you might run into selling it privately is that people need financing and banks like going through dealers. Dealers of course know this and will play that to their advantage as well as sales tax.

Could throw the milan on craigslist tonight and see if you get nibbles. Throw the accord up too. Act serious about selling it/them.
 
Originally Posted By: gregk24
I would sell private party, then use that money to lower the payment on the new ride. Out of the two cars, I would sell the Milan. Both are nice cars, but if you plan on keeping either for a long time the Accord will be the best bet. 100K on that car isn't a whole lot. Besides a funky steering issue mine runs like a new one at 120K miles. Do you have the I4 or V6? If you have the 4 then you shouldnt have to worry about the tranny in it. The Milans however, both 4 and 6 have been known to have tranny problems. If you dont mind me asking, why do you need a new ride? Both of your cars are solid rides and have low miles.


Why ? as i have a wonderful wife thats a good mother to our kids and a equally good wife to me (she's also a smoking little hottie) and i love her.. so i like to treat her well and keep her happy.. She's not complaining, she just likes the Acura, and i can see why.. very nice ride. She doesnt complain one bit when i buy toys (all the time) so when she want s a new one.. well.. what can i say.

The Milan is a fine car, Its just.. dare i say boring.. she's 30 and im 38 and we both think that.. its not a overly comfortable car, and its not fast or even quick for having a 6cyln in it.., and its not very quiet.. the fit and finish is just OK.. nothing to get excited about.. The Honda is much more fun and exciting to drive, clearly more refined and much peppier with the 6CYL in it as well, both cars are completely loaded to the gills, all leather, 6cd, moonroofs, premium top end models for their line's..

I think ive made the decision to keep the Honda, now its a matter of getting the correct deal on this Acura and either selling or trading the Milan.. so this thread is a success so far, one decision so far.
 
Dump the Milan and keep the vehicle u and Ur wife like better. See if u can get the Silverado for $20,500 out the door.
 
Mercury owner here, Can confirm.


The only reason I own mine is because of average american tastes circa 2002.


Marauder on the other hand,
grin.gif
19.gif
 
Originally Posted By: michaelluscher
Mercury owner here, Can confirm.


The only reason I own mine is because of average american tastes circa 2002.


Marauder on the other hand,
grin.gif
19.gif



LMAO.. dont get me wrong, The Milan is a fine car as far as transpertation is concerned.. we just dont love the thing.. its just "OK" would i buy it for my kids.. 110% yes
 
I'd give this a shot: walk into the dealer with two things - the title for the Merc & $10G. Tell them this for the Acura. See what happens!
 
Status
Not open for further replies.

Similar threads

The Critic
2016 Acura RDX valuation
Replies
5
Views
721
The Critic
O
Vehicle sales tax
Replies
19
Views
1K
RichR
supton
2011 Ford Fiesta?
2
Replies
31
Views
1K
theseer2
K
Daughter bought 23' Accord Hybrid Sport. Anything I need to know?
Replies
17
Views
2K
02zx9r rev2
C
Toyota Forces purchase decision a little early/Hyundai Santa Fe traded in......
2 3
Replies
45
Views
4K
Brons2
Back
Top