Accept trade in

[Zac_español]

Can someone elaborate this please

I can only understand it, by surrendering my car to them in exchange for a new unit, low appraisal value. I understand the basic stuff but what am I really dealing here?

TIA!

[1D4LV]

basically business.
they will get your old car for a new one.... and they will appraise your old car low, so pwede pa nila ibenta at market prices. the value of your low appraised old car will be applied as downpayment.
they earn from the new car and they earn from your old car.

[mykpogi]

benta nyo nalang yung old car using market value para iwas lugi.

[Balikpinoy]

It usually means, get ready to bend over.

On a more serious note, I think the local market is ready for used car lots like car max that deals with newer models.


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[Zac_español]

basically business.
they will get your old car for a new one.... and they will appraise your old car low, so pwede pa nila ibenta at market prices. the value of your low appraised old car will be applied as downpayment.
they earn from the new car and they earn from your old car.

Hi, in case the appraised value of my car is more than to the downpayment of the chosen car, will they give me the excess? or my old car basically will serve as a dp? thanks again!

[[archie]]

Hi, in case the appraised value of my car is more than to the downpayment of the chosen car, will they give me the excess? or my old car basically will serve as a dp? thanks again!

They will give back the excess.

[dr. d]

if you have the time, and you don't mind talking to people, you can sell your car yourself and get more money for it..
but many prefer the casa trade-in...

[yebo]

less hassle kasi ang casa trade in, sign ka lang ng deed of sale and that's it. and in my experience the appraisal is higher than from used car dealers. konti lang naman, maybe 5k more/100k worth. so kung ang tawad ng used car dealership is 300k sa casa nasa 320k. sayang din pang mods. pero syempre mas maganda ang price pag private buyer. yung 320k trade-in priced na car e mabebenta mo ng 400-450k yan, same price ng bentahan sa used car.

[dr. d]

from what i understand, that used car the casa accepts as "trade in", is then passed on to the used car dealers.
so the reason why used car dealers give lower rates to private car owners selling their used cars directly to them, is because they believe the owner is not aware of what's going on.
if we assert ourselves, we may be able to get a better price, selling to the used car dealers instead of the casa.

but i find it much, much easier to talk to the casa guys than to the used car dealers..

[crosswind]

and the sales agent can be the one to sell your car
i see it in sulit.com for ex. a mitsubishi slaes person selling a used toyota

[dr. d]

and the sales agent can be the one to sell your car
i see it in sulit.com for ex. a mitsubishi slaes person selling a used toyota

and i seem to feel, that the casa will give a better trade-in price, if the car being traded in, is their brand and not the competition's..

[yebo]

There are casas that have used car dealerships. One example is the Laus group who pretty much have their finger dipping in every pie. Toyota also have their certified pre-owned cars. These generally offer better trade-in prices than those who don't have their own used car dealership.

[number001]

Dealership trade-ins is very convenient for car owners. No need to look for buyers. Get a credit on vehicle value immediately. But that convenience has a price.

If one is not in a rush, a much better price can be attained by selling the vehicle yourself.

As an example: Back in 2005, I had the dealer assess a 95 Civic ESI M/T w/ less than 60K kms mileage. Dealer offered 90K (trade-in value) which is absolutely ridiculous. Eventually sold the vehicle by myself to a private buyer for 195K.

[Zac_español]

Those are indeed helpful inputs. Thanks guys!

They said that if you bring your car to the same car brand that you have, the appraisal value is higher that to their competitors? Can anyone confirm.. thanks!

[1D4LV]

Hi, in case the appraised value of my car is more than to the downpayment of the chosen car, will they give me the excess? or my old car basically will serve as a dp? thanks again!

they can give you the excess. but you can always give them the excess. pampabawas monthly amortization....