Trading in vs. selling an old Honda Accord

I have a 97 Accord with over 230K miles. Runs well, worth about $2000
I plan on purchasing a 2008 Accord when they come out.
I am considering trading in, to avoid the time and hassle of selling
my old car.
Are there any strategies to use at the dealer to get a better price
for a trade-in.
I heard about dealer tricks such as "holding your car hostage" for
hours while a technician looks it over for appraisal. I would like to
hear from people who found trade-ins worth it when they bought a new
car. Any tips when trading in to dealer are appreciated
Thanks

 

It is rarely a good idea to trade in a vehicle if you are looking for
the best price on the new car. If you must, make the best cash deal
you can on the new car without mentioning a trade. When you get that
price established, ask them what they will give you for your '97.
Don't expect much if anything, but it will get it off your hands.

 

Do you have a Carmax in your area? Just another option to validate what the
dealership would give you.

 

Do you have a Carmax in your area? Just another option to validate what the
dealership would give you.

 

You basically won't get squat for your car on a trade. The dealer is
just going to turn around and sell it for beans to a wholesaler. They
aren't going to put it on their lot and sell it. Around here, the
dealers use some 'other' rating service besides KBB or NADA (I can
never remember the name, believe it begins with a 'G') that typically
is MUCH less than the others that we as consumers have access to. A
couple of years ago, I was looking to trade out Ford Windstar on a
Honda Pilot. KBB said the trade-in value was $3k, the dealer offered
me $1500 based on their super-secret book value. Needless to say, I
walked. Ended up driving it into the ground and donated it when the
transmission went. And bought my van from a different dealership.

Dan D
'07 Ody EX
Central NJ USA

 

You basically won't get squat for your car on a trade. The dealer is
just going to turn around and sell it for beans to a wholesaler. They
aren't going to put it on their lot and sell it. Around here, the
dealers use some 'other' rating service besides KBB or NADA (I can
never remember the name, believe it begins with a 'G') that typically
is MUCH less than the others that we as consumers have access to. A
couple of years ago, I was looking to trade out Ford Windstar on a
Honda Pilot. KBB said the trade-in value was $3k, the dealer offered
me $1500 based on their super-secret book value. Needless to say, I
walked. Ended up driving it into the ground and donated it when the
transmission went. And bought my van from a different dealership.

Dan D
'07 Ody EX
Central NJ USA

 

My tatic on my 96 accord was to tell them initally no I was not going to
trade it, get the price on the new car, then said, what will you give me on
trade.....I was offered 1,600, my response was huh, guess Hondas DON'T hold
their value and got up to leave....I was then offered 4,500, well over it's
book value, so , I got the new car, got a trade value & I am happy.

 

My tatic on my 96 accord was to tell them initally no I was not going to
trade it, get the price on the new car, then said, what will you give me on
trade.....I was offered 1,600, my response was huh, guess Hondas DON'T hold
their value and got up to leave....I was then offered 4,500, well over it's
book value, so , I got the new car, got a trade value & I am happy.

 

Carmax will offer beans, just like the dealer. A few years ago, after we got
our Odyssey, I took our "old" van (a Voyager, 6 years old) to Carmax, which
offered $3,000. I sold it privately a couple of weeks later for $5,600.
Pretty good return for the time and hassle I put in, I thought.

Paul

 

Negotiating Rule No. 1 - whoever can walk away from the deal wins. We
tend to forget that there's a lot of pressure on sales people and
dealers to move new cars and it counts against a sales rep if the
customer walks out without buying a car. I did the same thing, i.e.,
walked out, when I bought my '03 Accord Sedan. The sales guy called me
the next day and said his sales mgr was out Monday and they'd meet my price.

 

Negotiating Rule No. 1 - whoever can walk away from the deal wins. We
tend to forget that there's a lot of pressure on sales people and
dealers to move new cars and it counts against a sales rep if the
customer walks out without buying a car. I did the same thing, i.e.,
walked out, when I bought my '03 Accord Sedan. The sales guy called me
the next day and said his sales mgr was out Monday and they'd meet my price.

 

Would CarMax touch a car with that many miles?

I gave up on trades. I sell mine, and usually within a week.

G-Man

 

Would CarMax touch a car with that many miles?

I gave up on trades. I sell mine, and usually within a week.

G-Man

 

The dealer may not want that car. He will probably just wholesale it out.
In any case I traded a car in 2 years ago. It was a 15 minute process but
mine was low mileage late model. One advantage is some savings in sales
tax.

 

The dealer may not want that car. He will probably just wholesale it out.
In any case I traded a car in 2 years ago. It was a 15 minute process but
mine was low mileage late model. One advantage is some savings in sales
tax.