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Lakeland Square Automall - Extremely Low Trade in Offer

Sales - Complaint
Review by petman1224 on 2013-08-06
Rating: StarEmpty StarEmpty StarEmpty StarEmpty Star
LAKELAND, FLORIDA -- The reason for the why the prices are decent is simply because they offer you next to nothing for your trade.in my case I was looking at a particular car that I thought the price was fair when I asked them to appraise my 2006 Cadillac CTS which was in excellent condition they gave me a ridiculous offer of 4000.i also told them that I have a friend in the business and he told me that the car consistently brought in 6000 to 6500 at the auction with the same condition and mileage on the car.im done with all these large dealerships when it comes to buying cars.stick with the little guys they will treat you much better and give you a much better price.
Comments:1 Replies - Latest reply on 2013-08-06
Posted by FoDaddy19 on 2013-08-06:
The 3.6L model with average mileage and in good condition has a trade in value of around $6000-$7000 depending on equipment. The 2.8L base model has t trade in value of around $5500-$6500 depending on equipment. If you car had higher than average mileage or needs even minor repairs the value goes done.

If these cars bring in $6000-$6500 at auction, then the offer of $4000 was definitely on the low side, but the dealership wants to make money on the car. You could probably sell yourself and get more, but understand that when you trade a car in the dealership assumes the risk of reselling it, and will spend their money on advertising it, servicing/detailing it, paying inventory taxes on it, and transporting and listing it at auction if needed. Their overhead is much more than yours, so you aren't going to get retail or even private seller prices from any dealership when you trade in. Also if their prices are good for what they have on the lot then, you're still getting a comparable deal. They could give you full retail value for your trade, but then you'd also be paying full retail for the new car.

When I sold cars for a living it was common to have a customer that wanted full retail on their trade, but wanted invoice/wholesale on their new car, sorry but you can't have it both ways, That's a good business model for the dealership. What I would was pencil in another $1000 for the trade, and then add another grand to the price of the new car, to demonstrate how the principle worked.

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