Anyone getting trade bids on 2017's yet? Curious as to how good my deal was....

[robwlf]

i paid 34k for a 17 pp lightning blue roush supercharged phase 1 with 18k miles
has 26k on her now with no problems what so ever ..
been thinking about getting something else and trade her in but im sure ill get bent over on trade lol

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[NoVaGT]

Thoughts? I ask because I tend to keep my cars for just 3-6 months, and then move on.

1. Cars aren't trucks, there's no where near the profit margin in them.
2. I have no idea what a "Trade Bid" is.
3. You don't "keep cars for just 3-6 months and then move on", you're a flipper.

 

[LantanaMustang]

1. Cars aren't trucks, there's no where near the profit margin in them.
2. I have no idea what a "Trade Bid" is.
3. You don't "keep cars for just 3-6 months and then move on", you're a flipper.

1) All vehicles have margin and wiggle room for price incentives in them (special edition stuff aside), trucks just have more, but you see that immediately when the new year rolls out. Ever notice that you can get $10k off a truck as soon as its hits the lot, even a new model year hitting the lot in the prior calendar year immediately has a discount. It's kind of like shopping at Kohls where 50% off is "regular" price.

2) I guess I thought a trade/buy bid was pretty self-explanatory. If you call or go to a dealer and ask them what they'll give you for your car, that's a either a trade bid or buy bid. Trade bids often tend to be a bit higher, as that makes the assumption you're buying another car from them and they'll profit on both sides of the deal.

3) "Flipper" would be another way to look at it. This is my 58th car since 2004. My goal is to minimize depreciation versus actually profiting from a transaction. I put on a lot of miles each year and I've found that if I buy a car for the right price with low enough miles, I can drive it for 6-12k miles and likely sell/trade for close to what I paid. Not sure if this qualifies as flipping, as there really is no intent to profit, although it does happen from time to time, like the truck scenario in my original post. Out of the 58 cars I've probably sold/traded for more than I paid in 10-15 of those transactions. If I can put 10k miles on a car that was originally $40-$60k and get close to my money back a few months later, I call that a win. I also look at it as an extremely cheap short term lease with no mileage cap!

 

[BimmerDriver]

Lantana, I think you did OK on the buy and excellent on the trade. You seem to got a method that works for you. I'm guessing that Texas sales tax isn't too much. I have a friend in Chicago who freaks out every time I buy a new (er) car, but that's because he pays 7% and we pay only 3% in NC on cars.

And I love those wheels. I'm firmly in the "I don't like black wheels" camp but that's fighting a losing battle these days.

 

[LantanaMustang]

Lantana, I think you did OK on the buy and excellent on the trade. You seem to got a method that works for you. I'm guessing that Texas sales tax isn't too much. I have a friend in Chicago who freaks out every time I buy a new (er) car, but that's because he pays 7% and we pay only 3% in NC on cars.

And I love those wheels. I'm firmly in the "I don't like black wheels" camp but that's fighting a losing battle these days.

Yeah, tax isn't an issue on trades because you have a shelter based on your trade-in. You only pay tax on anything above your trade-in, which in this case was negative as I was trading "down" to the Mustang from a value standpoint.

My system has worked well, as I only buy if the car is at or below KBB trade-in value. Ideally below KBB and closer to a true wholesale or auction value.

The wheels have really grown on me and I feel they look better on the lighter colors like silver or white. For the $800 I paid for the "new" 2018 take-offs it was a no-brainer. Just the tires go for $1200.

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