New Low for LS Trade-in

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Pete02LSE

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I had the day off today and as I have posted before, we are trying to sell/trade the LS and get a Tahoe. The local CarMax had a Tahoe we were interested in so, we took a ride down there to experience the whole 'non-haggle' atmosphere.

Let me tell you...what a JOKE. It took about 45 minutes but...they came back with a whopping $9500 for our 02 LSE w/70k on it. That made the $12.5k that the local dealers have offered seem like a stellar offer. Oh...and...CarMax did not even recognize the LSE package.

I have it on the autotrader now and have posted it in the for sale section.

Thanks,
-Pete
02LSE
 
WOW that is really bad. I sure hope you are able to get more than that out of her. I test drove a 2006 Mazdaspeed 6 about a week ago and just for grins I went in to see what they had to offer. First of all the car was new with a $29k sticker. They offered me $14,500 for my "bare bones" 04 LS6 with 40k on it. I was a bit supprised to say the least. Must have paid too much for it in the first place (live and learn).

The Mazdaspeed 6 was peppy to say the least, 274 hp and all wheel drive. But it was all turbo. The ride was too jerky at any shift over 3500 rpm due to the power curve. O well that's what you get with a small engine with a turbo..... I think the term is "turbo rush". The black and white leather interior was different and quite nice, but the dash and instruments still look cheap, it was no LS. I'm not making comparisons here (apples to ... hamburgers) but just wanted to share my story.

n8
 
Pete02LSE said:
I had the day off today and as I have posted before, we are trying to sell/trade the LS and get a Tahoe. The local CarMax had a Tahoe we were interested in so, we took a ride down there to experience the whole 'non-haggle' atmosphere.

Let me tell you...what a JOKE. It took about 45 minutes but...they came back with a whopping $9500 for our 02 LSE w/70k on it. That made the $12.5k that the local dealers have offered seem like a stellar offer. Oh...and...CarMax did not even recognize the LSE package.

I have it on the autotrader now and have posted it in the for sale section.

Thanks,
-Pete
02LSE
Click to expand...
Its a little low but it does show that the $12.5 is right on the money. Dont expect more out of anyone. Plus there is a big difference between buying used with a trade at Carmax versus new at a dealer. Carmax is of course gonna low ball you because they would probably only get about $12k off it at their lot. If you have time to wait, possibly for a long time, then autotrader is fine. If you want to dump it and get something new in a hurry i'd jump at an offer of $12.5 for your car. Its only gonna get lower the longer you drive it.
 
Car dealers ALL play the slight of hand. The no haggle ones can't hide the fact they don't want to give you crap for your car cause they already have theirs marked down so you supposedly don't have to haggle.

$12500 may be about it, condition has alot to do with it. The LSE should get you 1000-1500 more than a non. This may be going down though.
 
Pete02LSE said:
I had the day off today and as I have posted before, we are trying to sell/trade the LS and get a Tahoe. The local CarMax had a Tahoe we were interested in so, we took a ride down there to experience the whole 'non-haggle' atmosphere.

Let me tell you...what a JOKE. It took about 45 minutes but...they came back with a whopping $9500 for our 02 LSE w/70k on it. That made the $12.5k that the local dealers have offered seem like a stellar offer. Oh...and...CarMax did not even recognize the LSE package.

I have it on the autotrader now and have posted it in the for sale section.

Thanks,
-Pete
02LSE
Click to expand...



What did you expect?

Let me tell you somthing. I work at a CarMax, I know how they work. The other dealers are offering you too much because there going to jack up the price the car that your buying. These cars arent worth :q:q:q:q at auction. They offered you 9500 because THATS WHAT IT'S WORTH. People allways think their car is worth more, and its not.

Those guys do know what there doing, and I gaurentee you your car is worth 9500. Take it from someone whos been the the car busniess for awhile. The dealers have acess to the same information CarMax uses to come up with their appraisal, so why would they offer you more? Because they make it up on the back end.

Think about it!
 
Mango is right. Car dealers are all scum of the earth -- the lowest form of plant life. They lie, cheat, and steal from innocent buyers every day. They'll hose you any way they can, even the ones who work at CarMax.

Pete's got the right idea. Sell it on your own to get the most profit.
 
Great perspective from a carmax insider. I'd be willing to bet that the exact same Tahoe would end up being the same price from Carmax and their $9500 offer, and the other dealer and their $12500 offer. Alot of dealers add fee's and all kinds of crap. Its amazing how the price negotiated ends up being way different on the paperwork you end up signing. I avoid all of those types and deal with some straight shooters. The way its been explained to me and its the honest way you need to look at the whole deal. Lets say Carmax takes your LS on trade and it sits on their lot for weeks or months and doesnt sell. It will end up going to auction which brings next to nothing, probably less than the trade amount. They are giving you a good price on the Tahoe and assuming a risk on your LS. Keep in mind that most private buyers might find $12-13k for your LS as too much as they would need to find their own financing, which brings in another issue regarding its loan value.
 
I'm a salesmen, and cars salesmen give the profession a bad name.

But its fun to mess with them...because they are the low end of sales talent. You can tell their every move.

I normally respect others in my profession, but not those guys.

When buying your next car you really need to know both what yours is worth, and what the one your buying is.

I can usually buy my cars for KKB trade in value from a dealer or pretty close. They used that to explain why they gave what they gave for it on trade to the sucker trading in, stroke them on the new/used car they're buying, then have room to try to profit large. If you hit them right at about 300-500 above what they gave in trade or got in auction, they'll be all over you.
 
The one thing I do enjoy about my job is that I dont have to BS people. I just tell it to them how it is. Are most of them pleased? No, because the regular dealers allways offer them more. If you did sell your car to them, they would problay sell it for about 12. I got my 02 LS Sport from them when I started working there about a year ago for 14,000.

Id just encourge you to do what you feel you should, but watch out at the other places, because nothing with them is final, even after you drive away. I've seen ALOT of people burried in cars they should not be burried in. its kinda sad. The most messed up one I ever had was a guy who bought a 2005 Ford Focus, and his payoff was 26,000 dollars. I dont know what they did to him, but man, he got hosed. It's sad too see what happens out there, and what regular car salesmen do.
 
I was recently going to trade my 2002 Lincoln LS8 sport with 50K for a 2002 BMW 330CI with 30K. They wanted $22,900 for it and were going to give me $15,000. I guess they were very impressed with it?
 
02LSE96LSC91SE84TC said:
I'm a salesmen, and cars salesmen give the profession a bad name.

But its fun to mess with them...because they are the low end of sales talent. You can tell their every move.

I normally respect others in my profession, but not those guys.

When buying your next car you really need to know both what yours is worth, and what the one your buying is.

I can usually buy my cars for KKB trade in value from a dealer or pretty close. They used that to explain why they gave what they gave for it on trade to the sucker trading in, stroke them on the new/used car they're buying, then have room to try to profit large. If you hit them right at about 300-500 above what they gave in trade or got in auction, they'll be all over you.
Click to expand...

First question: What do you sell?
Second question: Do you make money selling that product/service?
Third question: Why do you work?

Also, how do you know what your car is worth? Your car is only worth what someone is willing to pay for it.........not what you think it should be.
 
MangoMan said:
The one thing I do enjoy about my job is that I dont have to BS people. I just tell it to them how it is. Are most of them pleased? No, because the regular dealers allways offer them more. If you did sell your car to them, they would problay sell it for about 12. I got my 02 LS Sport from them when I started working there about a year ago for 14,000.

Id just encourge you to do what you feel you should, but watch out at the other places, because nothing with them is final, even after you drive away. I've seen ALOT of people burried in cars they should not be burried in. its kinda sad. The most messed up one I ever had was a guy who bought a 2005 Ford Focus, and his payoff was 26,000 dollars. I dont know what they did to him, but man, he got hosed. It's sad too see what happens out there, and what regular car salesmen do.
Click to expand...
The Focus deal is common and it is of no fault but of the customer. It is called inequity.
 
ToddG said:
Mango is right. Car dealers are all scum of the earth -- the lowest form of plant life. They lie, cheat, and steal from innocent buyers every day. They'll hose you any way they can, even the ones who work at CarMax.

Pete's got the right idea. Sell it on your own to get the most profit.
Click to expand...
Why are the buyers innocent? Is it not up to them whether they buy the car or not? By your logic we could say all buyers are spineless, uneducated, and fiscally retarded because they allow themselves to be "fooled" by a car salesmen.
 
Well, a good car saleman never tries to sell a car at the bottom line. Thats give them some haggling room, which is the way it should be. I normally come to the owner of the dealership when buying a vehicle. It pays to know people in higher places....that applies to just about everything in this world.
 
Well, I THINK I bought a 2000 Lincon LS V8 with 105k miles on it for $8100. (Mint condition). The dealer I bought it from took my leased Mustang GT on trade. Strange thing about leased cars is that I would have had to pay the tax in addition to the lease payoff if i sold it on my own. Since i traded it, no sales tax had to be paid. Since the pay off was $16,700 this amounted to over $1400. SO, for example, a dealer trade value of $10,000 for the Mustang GT equated to a private sale of $11,400. Extra incentive for me to trade I guess, in addition to not being able to offer financing to private buyers and general ease of the deal when dealing with a car dealer.

The big difficulty in determing price (I think) is that the dealers must take trade-ins at "less-than retail" and sell at retail to stay in business. This can always makes them look a little worse (if that's possible) :D .

if I had not had to deal with getting rid of a leased car, i would have GLADLY given you 12,500 for your LSE - assuming it's a california model able for licensing and smogging in the third world city of los angeles ....
 
I've had my 02 LSE with 62K miles, brembo brakes, hid's, tint etc. for sale heavily advertised on autotrader and got nowhere, I got many calls, no one would offer more than 11K, I still owe, 11,600 on it. I put it on ebay, it's got one bid at 12000 right now which I'm jumping for joy over, at least I wont be upside down in it. However, one guy is coming to look at it tomorrow, he offered 12,900 over the phone pending on what he sees. So hopefully that will go well.
 
DLS8K said:
The Focus deal is common and it is of no fault but of the customer. It is called inequity.
Click to expand...


He didnt have any negetave equity that he rolled into the Focus. He just had an allarmingly high intrest rate and some crazy charges and fees on his buyers order.
 
Ford killed the value on this car when they dumped all the 06's. Why should you get top dollar for your used car when you could buy a loaded 06...brand new...for under 30K?
 
I am very disappointed in what the price of the LS is doing. We have an 02 LS that we bought at this time last year for $17500, it had 38000 miles and was in perfect condition, we shopped around and this was the price that they were all going for. I dont understand how the price of this vehicle can drop $27000 from 02 to 05 and now another 5000 or 6000 in a year. This isnt looking good for the gap. I now owe way more than I bought it for. Cars like the Lancer Evolution, for example hasn't lost any value since 2003. Pretty soon you are going to see the LS in trailer parks and high school parking lots around the country.
 
I thought classy car like Lincolns are were suppose to retain value. There are 2001 camrys with high miles that are worth the same or more. I am so sad. I don't know if I want to put any money into mods now.:( :(
 
It's that age old problem that all American cars have- they lose value way faster then imports, no matter what they are.
 
Resale on the LS has been terrible since it was introduced in 1999. About 8 months ago I asked my dealer what he'd give for my '00 MTX with 138,000 on it If bought a new car on x-plan and he offered $3900 even though it had a new engine with 3,000 miles on it. All the trade in valuations from KBB, NADA and Edmunds were +/- $1000 over that, so it told me he didn't want the car in trade at all because 1.) it's high miles (even though it has a new engine) and, more importantly, 2.) it was more difficult for him to resell than it's book value was worth. I'd put the car up on Ebay with a reserve at a little higher than what the dealer wanted to give you for it and take anything as gravy above that.
 
I think 2001LS8Sport has it right. The heavy drop in trade in value is subject to Ford dumping the 2006 LS's. They were offering some incredible incentives on these cars, coming off the sticker some 10-12K. Even at that price, it was a little more then I wanted to pay so I looked into a slightly used one. Last week I bought a 2006 LS Sport and paid 24K for it. It was used (driven by dealers wife) but loaded, under warranty, and less then 10K miles.....an excellant price for this car.

Ford did the same thing with the T-Bird and prices on those cars dropped as well. A good friend of mine ownes a T-Bird and had the same gripes. He has no intention of selling his car but it does rub one raw. For me, on the other hand, I was greatful for such a gift and I will be keeping my LS for a very long time.
 
How about 7600 for a 2000 LS V8 Sport with 55k, loaded. I almost tackled the guy when he said it.
 
I bought my car for 10K in May 2006, a 2001 LS8 Sport with 90K

When I bought it KBB Retail was 15,500

Trade in was 11,000

So I figured, I would drive it for a year or so and trade it in on something else.

Well, I KBB'd it today and Retail had dropped to 13,300

Trade in was 7,080....

HOLY F..........CK



JUST checked NADA and it had totally different trade in value...

Retail was the same, but Trade in was 10,800 here...

HOW CAN THERE BE SUCH A DIFFERENCE...
 
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