Trade-In Evaluation from local dealer, help?
 

Hey guys,

I found a dealer with a 2016 Halo Scion FR-S in manual transmission and I offered my 2013 10-series Scion FR-S automatic transmission as trade-in. They started at $13,000 for the offer but did what all car sales do and called me back with better and better offers like 3 times. So now where we stand is actually somewhat appealing in my mind, but I wanted to see what some of you thought about it. Here's the current evaluation of trade-in and my vehicle specs and details for reference.

I told the dealer the following about my car:

10-Series Scion FR-S [AT]
38,130 Miles
2nd owner vehicle
chip in front windshield
door dent in driver side door
2/32" on stock tires
car is fully stock and well maintained.


Side note:

I owe $15,996 on the current car and I paid $4000 down, drove for 1.5 years and put about 17k miles on the car.

Here was their offer:

They will pay off the car (i.e give me $16,000 in trade-in evaluation), 2016 scion frs is $25,779 price tag.

Final price after tax & dock fees: $26,855

__________________________________________________ _________

I feel vulnerable talking to car salesman because I feel like they just have so many different ways to get their money out of you in the transaction. Does all of this seem legit? Also, what does everyone think about that trade-in evaluation on the car?

what's your monthly payment gonna be?

Seems like $18k is the average the car should go for based on your info from a dealer, so the dealer intends to resell your car and profit $2k.
What they are asking for the 2016 is normal so everything seems to be in order.

My payment will go from $317.50 to $427.00/mo

I told them to factor that based on 4.5% interest rate which is what I have from the last deal. and to assume my credit was sub 720. I figured if its above and I can get 3.5% instead that would just be icing on the cake, i know its close but I wanted to figure worst case scenario.

My only other questions is with proximity to 2017 toyota 86 release should I wait? I don't want the 2017 (don't like front styling) but 2016 should be less expensive once that comes out, not sure if pure pricing does a global reduction of price like that?

This^^^^^


They are giving a reasonable offer to make a reasonable profit. Yes, you take a hit on value due to depreciation but that is the car ownership game.




Not directed to OP just a general comment on trading/selling:


Never can understand the car owner that wants to buy for rock bottom but then get top dollar when selling and then blame the dealer for "ripping them off" when that does not happen. Dealers are there earning a living not catering to our personal wishes and desires. As long as they are fair (as per above) then all is good and everybody wins.

Pure pricing will die with Scion and it had nothing to do with what the dealers could charge in the first place.
The 17s could force the price down or could actually make the older ones go up in price. Still to early to tell but if they flop the older ones could become more desirable. Don't think this will happen but it is possible and not without precedent after facelifts. My guess is the current versions will hold the same value with very little impact one way or another from the facelift. Now if it was a second gen that could be a completely different story.

Honestly? That sounds like a great deal on the trade in.

You could probably find a better price on the new car if you searched cars.com or other websites, but honestly if you like the car and you are happy, go for it.

You should try and go to a local bank or two or the like to see what you can actually get for a car loan. And go to credit karma.com to actually get an idea what your credit is. Even though they might not admit it, interest rates are competitive as well.

I got $16k for my 2013, and the buyer knows the complete history of the car. 45k miles BRZ Limited with lots of track miles.

To me. All it sounds like your losing is 4k and getting a manual. You may miss the amenities the 10 series has

But Tcoat, the new one has 5 more horsepower.


The power of five whole horses, man. Gotta' pay to play.

The dealer would actually profit less than $2k since his tires are worn down to 2/32". They would replace those before selling.

If you do the math, a 2016 fr-s cost $126 per Hp based on a $25,305 MSRP. Which means the 2017 has approx $632 dollars in extra power.

As far as the deal itself goes, it seems fair. However, my question to you would be whether or not a manual transmission is worth about $10k. Financially, you're better off keeping what you have then taking a $10k hit and having a car that's much the same as your current one.

dealer giving you $16k for
40k miles
chip in front windshield
door dent in driver side door
2/32" on stock tires

Seems pretty good to me if you MUST get a new car.