Vehicle trade in
Question for those in the know. When trading in a vehicle towards a new one, does the dealer go by auction price of vehicle being traded in or by NADA/KBB? Reason I ask is I had a buyer for my truck, ...
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I go to a dealer that knows my vehicles,I tell him several units that interest me and have coffee then leave.What he does next is find a buyer for my trade,and he works with several different make dealers to see what they would pay or if they are interested.Also checks the auto auctions for dealers in the two closest provinces.He then gives me a yodel to come for coffee and we go over each vehicle I want to look at and resale projections in several years.Usually we are done in an hour and I never finance.I buy what I can pay for,haven't bought new for years to avoid high depreciation and taxes.Works for me.Not brand loyal either as they all make good vehicles,except I was a Cummins man after a new 1999 Ford diesel,traded it even up for a 1997 Dodge Cummins after 2 years.
