can you trade in a car that is worth more than what you are buying?
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Thread: can you trade in a car that is worth more than what you are buying?

  1. #1
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    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

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  3. #2
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    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

  4. #3
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    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
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  5. #4
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    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.

  6. #5
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    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.

  7. #6
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    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.

  8. #7
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    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.

  9. #8
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    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.

  10. #9
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    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...

  11. #10
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    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

  12. #11
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    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 .

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    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
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