Do you guys think different make trucks are worth more at the same make dealerships or different ones? Reason I ask is because I tried to trade in my Denali for a single cab truck today and they absolutely tried to screw me.
I found a single cab '05 truck with a 4.8 in it for $20k and they told me with my trade in AND 6800 DOWN PAYMENT, the final price would come out to $37k, and that with 0% interest!!! WTF?

 

are you upside down?

 

most likely, but not 17,500 upside down!!!
I think they were just trying to screw me because they didnt even tell me what they were going to give me for my truck. Looks like I may have to change brands even though I'd driven nothing buy chevy/gmc the past 5 vehicles I've had.

 

They are trying to stick you. Id check a differet dealer.

 

Sounds like salesman speak for that's the price before taking your trade. 37k - 17k or so for yours + 20k for the new truck or something like that.


Can we be expecting a name change !LOL!!!!

 

The guy who figured up your finance stuff must've failed first grade math.

 

Two basic rules for shopping for a vehicle:

(1) Make use of edmunds.com, kbb.com, etc., to find both the value on your trade-in, and the invoice price on the new vehicle you want.

(2) Complete the transaction/deal on your new vehicle (i.e. arrive at a price) before you even start talking about a trade-in. Defer any questions on a trade-in until such time.

You are talking essentially about two different transaction, and when the dealer coaxes you into combining them, there is a gray area where they overlap and they can play you. This is why you don't start talking about the price on your trade-in (in spite of how badly they will try to get you to) until you agree on a price for the new vehicle.

You can get a vehicle for the dealership's invoice price if you are willing to be kind, firm, and diplomatic. Smile a lot and say "No thanks, that won't work, this is the price I will pay, nothing more...." and show them the vehicle invoice. You can get the exact vehicle's invoice from the GM site, and the invoice price from edmunds.com or kbb.com.

Dealers get about $1000-$1200 (give or take) on top of anything they make over the invoice price. This is the 'dealer holdback.' This is up for the taking as well if you are smart enought to play it. I paid $600 under invoice for my Avalanche...the sticker said $39-something, the invoice was ~$29,800, and I got it for ~$29,200. Final price with T+T+L out the door was $32,000 and change. They made about $600 on me.

You will most likely take a hit on the trade-in. This means that you may get less than low Blue Book (under wholesale), which is the only way it is worth the dealer's while to make the transaction. They may just send it to auction and get less than wholesale for it themselves. Or they may choose to keep and sell it, but they will need to clean it, check it out, repair it if necessary, and certify it. Even then, they may not get much more than wholesale for it themselves.

Most of the time it is in your best interest to sell your used vehicle in a private party transaction, that way you could get close to high Blue Book for it (Retail). Don't get upset if after taking a serious chunk of their profit in a negotiation for a new car, they are not falling over themselves to cut you a good deal on the trade-in.

Good luck!

 

2 years ago, i tried trading in my truck for an SS. i would be paying more per month than i was at the time. i only had 8 months to go on my truck payments.

i think it was like almost $700/ month i left

 

Try a different dealership. They are obviously on crack there.

 

thats ****** crazy , your truck is worth way more than that pos 4.8 make sure that when you go to the dealership you put the stock or the city ones intead of the off road ones , i found out it decrease value!