Trade-In Value on Mustang Purchase

[samson]

10 year old SRT Jeep? KBB says in good condition your car is worth 27K. How much are you hoping to get for it?

I ran three different sources. Carmax was $19,000. Carvana was $21,200. KBB was $22,430. I would probably take anything $20K or higher. $21K would be ideal.

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[Ryunker]

Just pay cash outright and keep your trade, always need a spare.

 

[WGWMustang]

Just went through this in March. I got an online quote from CarMax first, then went to the Ford dealer. Was trading a 2022 Explorer Timberline with 6,000 miles. Dealer offered $6,000 less than CarMax. Showed them the CarMax quote and they said they couldn't even come close. So, bought the Mustang with no trade. Same night, sold the Explorer to CarMax. The final CarMax deal was exactly what they quoted online. Super easy. Took maybe 1 hour at CarMax and I left with a check in hand. In Missouri, I was able to use the total amount of the CarMax sale as a sales tax credit toward the Mustang.


WGW

 

[Zengineer]

Just pay cash outright and keep your trade, always need a spare.

That's how those people on "Hoarders" start out. I'm not the OP but I keep one pickup, one SUV, one convertible and one motorcycle...no more, no less. Well maybe a second motorcycle and maybe a dedicated track/project car but I'll need to build a 40 x 60 pole barn and I may as well build it 80 x 120 while I'm at it and at that point I'll have plenty of room so I may as well get that old Buick Riviera...

 

[Ryunker]

That's how those people on "Hoarders" start out. I'm not the OP but I keep one pickup, one SUV, one convertible and one motorcycle...no more, no less. Well maybe a second motorcycle and maybe a dedicated track/project car but I'll need to build a 40 x 60 pole barn and I may as well build it 80 x 120 while I'm at it and at that point I'll have plenty of room so I may as well get that old Buick Riviera...

Yeah, we are down to just 8 plus a bike.

 

[Eurasianman]

Curious to hear what most of you do when trading in a vehicle at the dealer. How do you determine the value you are looking to get? Do you bring estimates to the dealer with you? Do you run Carvana or other sources? I have a Mustang order that I'm going to look at this week. All the numbers look good EXCEPT we haven't gotten a value on my trade yet. I just want to go with a number and documentation to present my argument.

I've just stuck with KBB. I traded in 2 vehicles within the last 6 months. The dealerships came close enough to KBB that I just took it. Yeah, I could have made more doing a private sale. Also, if they can't come up on the trade-in, then ask for more rebates on your new purchase or have them waive the doc fees or something. For the Mustang, they wouldn't budge on the MSRP, but did end up waiving the doc fee (~$800) and was shy about $500 from what I wanted for my trade-in. I wasn't even planning on buying the Mustang, but it worked out. It's also about what you're willing to stomach.

 

[Dave2013M3]

Curious to hear what most of you do when trading in a vehicle at the dealer. How do you determine the value you are looking to get? Do you bring estimates to the dealer with you? Do you run Carvana or other sources? I have a Mustang order that I'm going to look at this week. All the numbers look good EXCEPT we haven't gotten a value on my trade yet. I just want to go with a number and documentation to present my argument.

Carvana in one area will give a different amount in another area, as it is local market driven. Carvana offered me $27k for my pristine 2020 Mustang GT with only 31k miles on her with PP and such, I ended up selling it for $33K with in a month.

 

[Zengineer]

I've just stuck with KBB. I traded in 2 vehicles within the last 6 months. The dealerships came close enough to KBB that I just took it. Yeah, I could have made more doing a private sale. Also, if they can't come up on the trade-in, then ask for more rebates on your new purchase or have them waive the doc fees or something. For the Mustang, they wouldn't budge on the MSRP, but did end up waiving the doc fee (~$800) and was shy about $500 from what I wanted for my trade-in. I wasn't even planning on buying the Mustang, but it worked out. It's also about what you're willing to stomach.

KBB what? Trade In, Fair Purchase Price, Auction Value, Instant Offer?

You are either eligible for a rebate or not. A dealer can't just award them to you.

 

[Eurasianman]

My apologies. I did a trade-in on KBB and went with good condition (I had one small door ding and a scratch on the front bumper and tailgate. No other door dings or deep scratches anywhere else on the truck... I'm OCD with my vehicles). What kills me though is that they told me the tires I had on there (only 20,000 miles) needed to be replaced. The tires were easily good for another 30,000-40,000 miles (General Grabber A/TX).

Maybe "rebates" wasn't the best word to use, but the dealer found ways to take some money off the purchase price, especially since I was not going to pay a penny over MSRP. Looking at the dealer's website now, it looks like they have a few Mustangs (Ecoboost and GT, but no DH) with about ~$1,000 off of MSRP. So, once again, I was happy with my deal, but each individual's purchase will vary.

 

[jamespmoran]

I ordered my GT Convertible on 8/12. I had a 2020 Explorer ST. At the time we had 3 vehicles, and could get by until my GT was delivered. I told them if the trade was right they could have the vehicle upon signing the order. I was offered the KBB private party sale number. Signed the order, gave them the car. Mustang delivered 11/09. Please note, this is the 3rd vehicle I have purchased from this dealer in 7 years, from the same salesman, they know my cars are always taken car of, and they place a value on our relationship.

 

[Zach@Granger]

Curious to hear what most of you do when trading in a vehicle at the dealer. How do you determine the value you are looking to get? Do you bring estimates to the dealer with you? Do you run Carvana or other sources? I have a Mustang order that I'm going to look at this week. All the numbers look good EXCEPT we haven't gotten a value on my trade yet. I just want to go with a number and documentation to present my argument.

Each dealership is different than others. We use VAuto which compares what similar vehicles are being sold for around us. That is how our prices are determined on top of leaving some room for maintenance and technicians to look over the vehicle and fix what is needed for it to pass the full inspection.

Selling privately is always an option as well as Carvana! Some customers prefer to sell it themselves while others do not want to deal with the headache. Selling it to the dealership would help with tax credit as well.

But 100% up to you!

 

[dollybud]

Unless they give me the trade value I want I'm walking anyway.

For sure, did you consider selling it privately? Sometimes a hassle but normally you would get what you buy. In Canada at least in Ontario you pay tax changing the ownership, title US uses.

 

[Gr8ful]

I have sold many many cars as I've bought 68 new ones. I sold some to Carvana lately and did ok. Also, Carmax a couple. But best, is to sell through forums like this. I sold 2 Corvettes and a 911S this way. The buyers know the car and know their values. Years ago, we just had newspaper adds. Now much more exposure. Great advise if going to dealer, to never introduce the trade until the new vehicle price is firm.
My $02 worth

 

[samson]

For sure, did you consider selling it privately? Sometimes a hassle but normally you would get what you buy. In Canada at least in Ontario you pay tax changing the ownership, title US uses.

I considered it but due to #1 the hassle, and #2 the loss of the trade-in tax exemption, I typically go the trade-in route with the dealer.

 

[DukeCLR]

I think the key is to have numbers in mind, the hassle and tax refund is good but there is a point where it's best to sell. My trade would have been 25K and 1500 in a tax refund, I just sold it to ALGO for 31.5.

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