Trade in Value
 

Is is just me or does KBB and NADA seem to be missing a massive amout of options that are available on the X5 for determining trade in/retail.

I know I paid more for rear htd seats and a htd steering wheel, rear climate, bluetooth, 20inch wheels, Navigation system, Premium Sound, Park distance Control... etc. Why in the hell aren't those an option when figuring trade in?

KBB has some, NADA has some but neither have even close to the list of options available.:confused:

FYI, KBB grossly overestimates what you'll get when selling your used vehicle, whether its private party and or dealer trade-in. From what I've heard, take off a few thousand and you'll be in the ballpark.

I went to a dealer to get a trade in value, and they did not take into consideration a lot of the options that I had. In the end, I was offered $20k for a 2002 3.0i with 39k miles.

Wow, at the Audi dealership I got a completly different approach when I was going to trade in my 2000 323i. They were siked at the options and told me I would get much more as the car would be more marketable. I guess it all depends on how sleazy the dealership is.

I for one am completely done trading in. I would much rather sell it private party, even if it means I sell it for trade in value to another person. I say screw the dealers, they want money on both sides of the deal.

Unfortunately, most dealers go by "galves", which governs the wholesale market. Galves shows the lowest value when it comes to trade in, but there's reasoning behind it. A stealer, who is in business to make money, like all other business, would like to make a profit when they take in a car. Many times the stealer would "wholesale out" the car, which means selling it to another wholesaler. If that wholesaler sends those cars to auction (i.e. manheim), he needs to make a profit as well, and so on.

Anyway, most are surprised that many options are not accounted for when it comes to trade-in value. That's why sometimes it pays to sell privately. Options like rear heated seats, xenon lights, PDC, privacy glass, heated steering wheel will not fetch you a higher trade value. For the most part, sport package (with upgraded wheels), navigation, premium sound (DSP), are the options stealers will "add" for when giving you an appraisal. Heated seats often do not command a higher trade in value, as that car might be sold to somebody in, for example, Arizona, who doesn't need heated seats. It also varies by model year. Take, for example, my MY01 4.4i: Until the end of last year, activity package (which was headlight washers, etc.) was a $500 add for trade in. It no longer is an add.

So, if you have a car that's "loaded-to-the-gills", you're probably better off finding a private party to buy your car (somebody who appreciates your comfort seats, xenon lights, rear heated seats, heated steering wheel, PDC, running boards, etc.). Don't forget, though, in most states, when you trade in, you're also saving the tax, so you can add that to the trade in value (i.e. in a state with 6% sales tax, a $20,000 car traded in will save you $1,200 in tax)

Yea that is how I sold my last car, privately for trade in plus tax credit. Win-win.

I think dealers make more money on used cars than new. They give you a really low trade-in value and then sell it for more than retail book. That said I would rather buy a used car from a real dealer.

Another reason to lease.

Depends greatly on the type of vehicle being traded. The last two cars I've traded in, KBB was exactly on the money.

Here in SC, I had to pay property tax on my X5 - According to the county assessor (who used NADA) my 2006 X5 4.4 sport was "valued" at $15,500. (my 2001 X5 4.4 sport $10,000) - I felt so guilty paying such a lowball tax, I asked them to confirm their numbers - She did and said that's what the computer came up with - It still does not make sense to me?!?

What about KBB pricing on used cars?