Are you suggesting they overpaid on the Turbo?

You've got the weblink. Go offer them $35K and see how far you get.

 

What I am saying is that on the other car you were dealing they may not have had as much head room and thus the low offer for your car. Whereas on the Rover you bought they may have had a lot more head room/profit and they could offer you more. A better test would be if I could go and get a better deal than 10% on a cash deal for a new Rover and see if they take it. Every dollar off that I get would be the same as reducing the trade in price of the TT by a dollar. Trade in values have no representation to the actual value of an item without considering the agreed value of what you are trading for. Does this make sense now?

 

Or put another way, if you were willing to pay $100k for a Hyundai and they would give you $80k for your car on trade it doesn't mean your car is worth $80k - nor does it mean that a Hyundai is worth $100k.

 

I encourage you to try that. Let me know if you get an additional 7K off of the 10% I got as that would put the trade-in at $35K. On an MSRP of 60K you'll need to buy that LR4 at $47K.

The best test of the value of my trade-in would be to see what you can buy it for as cash deal. I'm guessing you can't get it for less than $47K. That's a far cry from the uninformed estimates of 35 to 38K people threw around on this thread.

 

The dealer is only offering you that because thats what he thinks he can get one for at a dealer only auction. Here's some trade secrets... Dealers don't use KBB or NADA, rarely anyway. A lot of them use MMR. MMR is a function of Mannheim dealer auctions that tells the dealers what a specific car is selling for via dealer only auctions and transactions at car lots for the previous week. It changes every week and sometimes every other day or so. It will tell them wholesale prices and retail prices on cars that have sold recently and it breaks them down into low, medium and high price ranges. It's nation wide and you can even get pictures and details of flaws or damages with estimates; it's a pretty good tool. Sadly, turbos haven't been bringing much more than high 30's... although, most of those cars that sold for that were fairly rag tag and in need of some help. Here's an example (Cut, Copy, Paste) I did a search for 2002 Turbo...

Auction Averages
Zeroes Indicate No Recent Auction Sales. See "Transactions"

For Week Ending Apr 2
Above Average Below Feb 2010 Oct 2009 Apr 2009
Sale Price $44,288 $37,688 $31,088 $30,250 $32,000 $35,117
Odometer 27,944 44,058 60,172 52,214 56,918 53,240
Total Sold All 6 2 1 3


Average Auction Odometer
Prices are based on more transactions than shown under 'Transactions', above.
Apr 7 - Apr 14 2010
Above Average Below Insufficient Transactions To
Auction $39,500 $35,200 $30,900 Estimate Future Prices
Est. Retail $53,200 $44,700 $36,200


Auction: Avg Price Avg odom # sold Min price Max Price
RIVRSIDE $37,625 49,527 2 $35,750 $39,500
NADE $36,000 41,854 1 $36,000 $36,000
MANHEIM $39,500 35,323 1 $39,500 $39,500
DFW $32,000 41,698 1 $32,000 $32,000
ATLANTA $28,500 62,729 1 $28,500 $28,500




Copyright © 1996-2008 Manheim Auctions

 

Ian,

Congratulations on the sale of your car. After hesitating with your car and taking the winter off, my wife and I are "back in the hunt". You were a pleasure to speak/email with last winter.

Cheers,

Jonn

 

For what its worth I just bought an car identical to the one you are selling but it was an x-50 that is very loaded. I paid 50k. My mechanic says I stole it and that in a stronger market it could of fetched 60k.

 

Car forums in general are the worst places to have a discussion about value in my opinion. You would think as a more informed group of people it wouldn't be so. the majoryity of the people that feel inclined to chime in are those looking to lowball and get the cheapest one they can find. They are quick to remind everyone of the outlier sales they "know" of or have heard of. They get anchored to those prices and think that lowest price is indicitive of the whole market. Many of the guys that will tell you a 45k car is worth 32k are also "in the market". I find it pretty comical really.

 

^ +1