can you trade in a car that is worth more than what you are buying? - Toyota Sienna Forum - siennachat.com
 
LinkBack Thread Tools
post #1 of 12 (permalink) Old 02-16-2011, 01:17 AM Thread Starter
Supporting Member
 
Join Date: Mar 2009
Posts: 438
Garage
can you trade in a car that is worth more than what you are buying?

Have a friend needing to get rid of his Audi Q7 for a 2011 Sienna 8-seater. He asked me if he could trade in his Q7 for a Sienna and have the dealership cut him a check for the difference. I did not see a problem since the dealer is going to make out at the end anyway. What 'ya think? Anyone had gone thru this scenario? Thanks
mpv4-8 is offline  
Sponsored Links
Advertisement
 
post #2 of 12 (permalink) Old 02-16-2011, 08:06 AM
Senior Member
 
Join Date: Feb 2009
Posts: 378
Re: can you trade in a car that is worth more than what you are buying?

yes no issue if his car is paid for I traded a pickup for a new Subaru for 300.00. Are you sure he will come out ahead they will offer wholesale for the Audi he might be better off selling on his own or to Audi dealer

2006 XLE Limited AFP
komondor is offline  
post #3 of 12 (permalink) Old 02-16-2011, 08:43 AM
Vendor
 
Join Date: Feb 2009
Location: Tilton, IL
Posts: 207
Send a message via MSN to dougbonczek Send a message via Yahoo to dougbonczek
Re: can you trade in a car that is worth more than what you are buying?

We have this happen from time to time ... no big deal.

--
Doug Bonczek
Finance / Inventory Manager
Toyota of Danville - Scion
toyotaofdanville@gmail.com
877-442-8474
dougbonczek is offline  
post #4 of 12 (permalink) Old 02-16-2011, 07:54 PM
Supporting Member
 
Join Date: Mar 2009
Posts: 2,923
Re: can you trade in a car that is worth more than what you are buying?

While the "trade-in" is wrapped up in a purchase deal, what is really happening is that the customer is selling a used car to the dealership, and buying another car from the dealership, and paying the net difference. The deals are connected, but only in that both parties agree to go ahead with them only when they have agreement on both parts. Of course when they are packaged together the real prices can be obscured by overstating the trade-in value and the new vehicle price by the same amount, which seems to make the customer feel better and thus more likely to agree.

This makes sense to me, although I agree that a dealership selling a Toyota seems unlikely to be willing to pay as much for the Audi as a private purchaser or a dealership that particularly wants an Audi on the lot.

I have no personal experience with this, at least in part because by the time I'm done with a vehicle it is a couple decades old and worn out (thus not worth more than anything I would buy. If I were in that situation, I would be tempted to do the combined deal just to get the whole process over with.
brian_bp is offline  
post #5 of 12 (permalink) Old 02-17-2011, 10:27 AM Thread Starter
Supporting Member
 
Join Date: Mar 2009
Posts: 438
Garage
Re: can you trade in a car that is worth more than what you are buying?

Thanks guys for the info.

Yes, my friend did try to sell it on his own for two weeks but no bait, lots of gawkers (which drove his wife nuts ). His is an '08 V8 (I think) and he had it for sell around $40ish. He did take it to Carmax too and I think they gave him a lot less than if he would have traded it for another vehicle there. So he figured he could not do any worse at a Toyota dealer where he would be buying a new one. They are having triplets in April so their family is growing to 6. He would have kept the Q7 but there is just no room for the new strollers and seats. He is looking for either an LE 8-seater or an XLE 8-seater.
mpv4-8 is offline  
post #6 of 12 (permalink) Old 02-23-2011, 01:19 PM
Devoted Member
 
Join Date: Feb 2009
Posts: 652
Re: can you trade in a car that is worth more than what you are buying?

Quote:
Originally Posted by mpv4-8
Thanks guys for the info.

Yes, my friend did try to sell it on his own for two weeks but no bait, lots of gawkers (which drove his wife nuts ). His is an '08 V8 (I think) and he had it for sell around $40ish. He did take it to Carmax too and I think they gave him a lot less than if he would have traded it for another vehicle there. So he figured he could not do any worse at a Toyota dealer where he would be buying a new one. They are having triplets in April so their family is growing to 6. He would have kept the Q7 but there is just no room for the new strollers and seats. He is looking for either an LE 8-seater or an XLE 8-seater.
Kind of surprised to hear how SMALL the Q7 is.
grandmama is offline  
post #7 of 12 (permalink) Old 02-23-2011, 07:26 PM
Supporting Member
 
Join Date: Mar 2009
Posts: 2,923
Re: can you trade in a car that is worth more than what you are buying?

Quote:
Originally Posted by grandmama
Quote:
Originally Posted by mpv4-8
... He would have kept the Q7 but there is just no room for the new strollers and seats. He is looking for either an LE 8-seater or an XLE 8-seater.
Kind of surprised to hear how SMALL the Q7 is.
Small? The Q7 is not small, but
  • the Sienna is huge, and
  • the Q7 suffers from a lack interior height, due to the trendy SUV-style large tires and resulting high floor, and a general priority of style over functionality.

The Q7 is nearly as long as a Sienna, substantially heavier, and probably just as wide and tall.
brian_bp is offline  
post #8 of 12 (permalink) Old 02-24-2011, 09:26 AM Thread Starter
Supporting Member
 
Join Date: Mar 2009
Posts: 438
Garage
Re: can you trade in a car that is worth more than what you are buying?


Yes, it is not small externally. However, its use of interior space is not efficient. The same can be said of the Land Cruiser. It is huge but you cannot have all the seats occupied and have enough cargo room for their stuff. Strollers are huge.
mpv4-8 is offline  
post #9 of 12 (permalink) Old 02-25-2011, 01:26 AM
Junior Member
 
Join Date: Aug 2010
Posts: 38
Re: can you trade in a car that is worth more than what you are buying?

Interesting discussion, I was thinking the same thing.

I don't think I will end up doing it, but I dislike our 2011 XLE AWD Sienna enough to do it as soon as... now.

I was thinking of getting a base model Mazda 5 w/ manual transmission and no options. Sienna is just too big and really offers nothing we need. It's really ponderous and sluggish to drive, really! I can't think of anything I like about our Sienna. The only reason why we keep it is because everyone in the fam wanted one (MINVAN, TOYOTA, AWD, DVD, MUST HAVE!!!). But really it's too much of what we don't need, has terrible ergonomics/road manners and is just too big for comfort, but yet cramped for tall people (me!). We were getting along just fine on a Subaru Forester, fancy that.

Now if I can get a brand new Mazda 5 for 18 grand list price, maybe less if I can talk them down, I might still be able to get some equity out of the Sienna. On the same note, I might even be interested in a Honda fit. Indeed do they ever cut you a check for the difference?

One can only dream...
piccolabomba is offline  
post #10 of 12 (permalink) Old 02-25-2011, 02:03 AM
Devoted Member
 
Join Date: Feb 2009
Posts: 1,161
Re: can you trade in a car that is worth more than what you are buying?

sell the sienna to a private party and then buy the new vehicle?

SiennaChat Founder / Moderator
sienna is offline  
post #11 of 12 (permalink) Old 02-25-2011, 04:31 PM Thread Starter
Supporting Member
 
Join Date: Mar 2009
Posts: 438
Garage
Re: can you trade in a car that is worth more than what you are buying?

Quote:
Originally Posted by sienna
sell the sienna to a private party and then buy the new vehicle?
Ideally, you would get more money but I cannot deal with the hassle. All walks of life want to drive your car and lowball your price. Moreover, you have to sit at home waiting ... and waiting ... for them to come ... and of course most of them don't show up .
mpv4-8 is offline  
post #12 of 12 (permalink) Old 05-27-2011, 12:48 PM
Junior Member
 
Join Date: Mar 2011
Posts: 40
Re: can you trade in a car that is worth more than what you are buying?

I sold my Acura to get my Sienna and the difference between selling at Toyota bs selling it to Acura was $300. Obviously I took it since I wasn't in a hurry but in your friends case, even if it is only $500 he might be better selling it to Audi. A few hundred is a few hundred right?

Erik
1993 300ZX Convertible (Stage: V+) #1,504 of 3,763 Z32 'verts ever built
210 RWHP & 190 ft/lbs @ 2500ft above sea level
2007 Mazda CX-7 GT Turbo - Stage 1 - Forge BPV
2011 Toyota Sienna XLE
http://r33b.net/images/offset_sig.jpg
offset_98 is offline  
Reply

Tags
buying, car, trade, worth

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Toyota Sienna Forum - siennachat.com forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome