Any tips to help me sell my car this week to a dealer?

grandgnu

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Moving from CT to FL at the beginning of March. Going to be selling off our current vehicle and taking a rental cargo van down to move stuff, then buying a new car the first week we arrive.

I owe roughly 9K still on my vehicle, here are the specs:

2010 Toyota Camry LE
Mileage: a little under 62,000
Color: Silver
Condition: Good to Very Good inside & out

Tires @ 11/32nd's (just bought them a few months ago, all four)
Have service records
Car was purchased @ 36K miles as a Certified Pre-Owned vehicle.
Just had an oil change two days ago, gas tank is full, car has been cleaned inside & out (although not professionally detailed)
Car has a CD player as an option, but just steel wheels, nothing fancy



I get vastly different numbers on it's worth from KBB vs. Edmunds. I went to CarMax and they offered me 9K, which will essentially allow me to walk away with the loan paid off, but then they'll turn around and sell it for 14 grand or something, and they don't haggle.

I'm planning on checking out some local Toyota dealers to get offers from them as well. I can't really sell it privately because I still owe on the vehicle and don't have the title, and I'm moving in a week.

My approach with local dealers is to check their inventory (and others in the area) for a similar vehicle and see what they're pricing it at. One dealership I'm going to tomorrow is selling a 2011 Silver Camry LE for $14,368 with 55K miles.

I'm obviously expecting them to lowball me, but figured I'd like to try and negotiate as best I can. My fallback is CarMax but would prefer to come away with some equity on this. My plan with the dealer when they come to me with their offer was to say I was looking for $13,599 for the vehicle, and work my way towards the middle back and forth with them until we arrive at a number we can both agree on.

My goal is obviously to get as much as I can, but my hope was somewhere in the 10-10.5K range, sound reasonable or does anyone have tips?
 

jbutler

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if you're looking to buy a car within a week of moving, why not just hold onto this one a while longer?

i realize this is "fold pre"-level non-advice, but i think you're going to be hard-pressed to get a better offer than carmax's $9k since you're not also buying. usually dealers will work with you on trade-ins because they are also incentivized to move inventory. without that carrot, you get the stick. the only reason they'd be excited to take the car is if they can get it for a price that will allow them a virtual guarantee of a nearly instant sale.

i'm kind of surprised that carmax offered you $9k straight up, but i guess that's sort of their thing - non-haggling, etc. i've never been to the place.
 

grandgnu

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Because there's no trailer hitch on the rental van so we can't tow it with us. And the Camry's towing capacity is only 1,000 lbs and if we paid to get a hitch put on it the smallest trailer is 850lbs EMPTY so that's pretty much useless.

And my wife doesn't really drive so there's no way for me to bring it with me when I'm driving the van.
 
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Chippy McChiperson

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Have you looked into getting your car transported from your current location to your new one? Probably would be under a grand I would imagine.
 

grandgnu

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Have you looked into getting your car transported from your current location to your new one? Probably would be under a grand I would imagine.

It'd be around $800 to have it shipped. But wasn't interested in keeping the car. It's reliable, but not all that comfy or fun to drive, was looking into other options when we get down there.
 

grandgnu

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So you guys think me getting 10K-10.5K is a stretch on my vehicle? It still gives the dealer 3K or so of markup when they put it on the lot.
 

manamongkids

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So you guys think me getting 10K-10.5K is a stretch on my vehicle? It still gives the dealer 3K or so of markup when they put it on the lot.

They are typically more inclined to give you additional money on your vehicle...if....you are planning to buy another vehicle with them. If you are simply selling to the dealer, they will give you the lowest number possible, as most people in this situation have no other resources to sell it, the dealership has all the leverage.
 

johnnycnote

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I did car sales for a couple of years. Lexus. Loved it. Other than the military, I never felt such highs or lows in a job. Car salespeople negotiate every day, day in, day out. Plus they have the full support of the sales managers behind them. Consumers, on the other hand, negotiate for a car maybe every 3 to 4 years. That's a huge disadvantage.

I found that the people who got the best deals were usually the ones that were willing to walk away. Not just once, but multiple times. So my advice, FWIW, negotiate the best deal you can, then get up and leave. You'll know you have the best deal for that day when they actually let you go.

Good luck!
 

grandgnu

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I fully expect them to try and offer me 7-8K to start on the car, because they're in business to make money, I get it. I have nothing to lose in trying to see if I can get them to my desired figure, since the CarMax quote is good for 7 days so I can keep driving the car all week and shop it around and then take the best deal I can get.
 

Ben

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KBB is pretty much a joke these days - Edmunds price will be a lot closer.

$9k is probably as good as you're going to get without also buying. It may be worth taking to the dealerships to see what they'll do - but if somebody offers $9500, take it. My guess is you'd probably break even on shipping the car to sell it in FL concurrent with a purchase, if that ends up being easier.
 

grandgnu

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I've read the KBB is too high and Edmunds too low, and usually it's somewhere in the middle. I just figured I'd go by what these dealers were selling similar vehicles on. Although I have no clue what they're paying for vehicles wholesale and all that, and my car is approaching the bottom end of being a lot car (five years old and 62k miles)
 

courage

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Have you checked with the rental company to see if they have a tow bar they'll allow for the van/box truck to pull the Camry? If not available, having the wife drive seems better than getting hosed on the car.
 

moose

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get a buddy to drive the car down for you and pay for his flight back.

Just remember if a similar car is priced $14368, they are expecting to be negotiated down from there, so that isn't the full spread they are making on the car. Also to get cash in hand, you are paying for them to sit your car on their lot until they find a buyer. You just aren't going to get the same money as you would with selling privately to the end user.
 

grandgnu

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Have you checked with the rental company to see if they have a tow bar they'll allow for the van/box truck to pull the Camry? If not available, having the wife drive seems better than getting hosed on the car.

The cargo vans don't have trailer hitches, I'm not sure if that's the same as what you'd need with a tow bar or not. My wife is not very experienced driving so that would be a no-go. And don't really want to lug the Camry down to Florida, ready to start fresh down there. I'll be happy if I can get 10K or so for it from a dealer, guess we'll see how it goes.

Was figuring I can try negotiating with them back and forth and if I can't get to my number walk. Then contact them via email and say "CarMax is offering me $9900 for my vehicle, can you beat this?"

End of the day I'll at least get it paid off completely, but going to try and get something extra if I can.

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get a buddy to drive the car down for you and pay for his flight back.

Just remember if a similar car is priced $14368, they are expecting to be negotiated down from there, so that isn't the full spread they are making on the car. Also to get cash in hand, you are paying for them to sit your car on their lot until they find a buyer. You just aren't going to get the same money as you would with selling privately to the end user.

I definitely understand this. Just figured my vehicle is a fairly popular model with low mileage and in good condition so should sell from their lot pretty easily, not something they'd need to shift to auction.

As far as having a buddy drive my vehicle down, I don't want to keep the Camry, I just want to get rid of it and get something different when I get to Florida. Found a 2013 Optima with under 60K miles for 13K that I might check out
 

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Do you have a lot of spare time on your hands? If so, and you enjoy it, then take all the time you want and visit as many dealers as you want and try and get them up that extra $500 to your price point of $9500. If your spare time is limited, and valuable, then you may "spend" more than $500 of your time and energy in going to all the different places seeking your goal of $9500. If you're in the second situation, take the $9000 from carmax to pay off the loan and call it good.
 

guinness

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In my experience dealerships hate taking in cars. They take up real estate where a new car can be planted and fetch more headache than new. They mostly offer it to get people into a new car. Every dealership I've dealt with suggests to me to try selling privately and only bring it in if I'm stuck with it.

Its getting pretty late for this but I guess do whatever you can to dump if you need to dump.
 

acl1904

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Is selling the vehicle in the private market an option? You might get closer to market value than any dealership might be able to offer. Give that a run and if that doesn't materialize, go with the dealership option. I get you have a week, but if you're eager to sell, I am sure there is someone out there just as eager to buy and get a good deal. Either way good luck with the sale.
 

grandgnu

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Private sale would be too many headaches. I leave for FL in less than a week and I still owe 9K on the car, so don't have the title in hand. I think tomorrow I'll go into the dealer that has a similar vehicle (2011 Camry LE with 55K miles, same color as mine for $14,400) and see what he offers. Then just tell him that I could sit there and negotiate back and forth, but I'm sure he wants to go home tonight and I'd like to do the same. My price is $10,500. Then just sit and wait for him to speak.

If he says no, I'll thank him for his time and slide him a slip of paper with my contact info and let him know that I'm selling the car to CarMax on Friday (no, I'm not telling him what CarMax offered me) and if he changes his mind to please get in touch. And then I'll leave. If it doesn't work, meh, I wasted under an hour of my time. I don't make $500/hr+ so if he manages to get anywhere above what CarMax offered I consider it a win.

And if it doesn't work, I have a little extra real-world experience under my belt.
 

grandgnu

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Well I'm glad I didn't listen to the advice here, lol. There are three Toyota dealers within 20-30 minutes from my house. I checked them all out, selected the one that was selling used vehicles at the highest price and went down tonight to get an offer.

Based on the prices I saw I figured they'll put my car on their lot at $13,500. So I figured getting $10,500 wouldn't be impossible. Guy checked out my car and came back and offered me $10,300. I asked if that offer would still be good this Friday, and he said as long as I didn't return the car with 65,000 miles on it that would be fine. So I accepted and cleared $1300 on top of what CarMax was offering.

I probably could've fought for a little more, but was just happy to get in the range I was expecting and hoping for.
 

grandgnu

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It's made what has been a horrible week (work has been crazy, in addition to planning for Sundays move) into a much brighter one. SO freaking happy with the way it turned out.
 

slisk250

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Well I'm glad I didn't listen to the advice here, lol. There are three Toyota dealers within 20-30 minutes from my house. I checked them all out, selected the one that was selling used vehicles at the highest price and went down tonight to get an offer.

Based on the prices I saw I figured they'll put my car on their lot at $13,500. So I figured getting $10,500 wouldn't be impossible. Guy checked out my car and came back and offered me $10,300. I asked if that offer would still be good this Friday, and he said as long as I didn't return the car with 65,000 miles on it that would be fine. So I accepted and cleared $1300 on top of what CarMax was offering.

I probably could've fought for a little more, but was just happy to get in the range I was expecting and hoping for.

Kick ass!!! $1300 can get you a small CPC custom cash set!!! Total win here.
 

grandgnu

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i think you're going to be hard-pressed to get a better offer than carmax's $9k since you're not also buying.


If you are simply selling to the dealer, they will give you the lowest number possible

$9k is probably as good as you're going to get without also buying.


Do you have a lot of spare time on your hands? If so, and you enjoy it, then take all the time you want and visit as many dealers as you want and try and get them up that extra $500 to your price point of $9500. If your spare time is limited, and valuable, then you may "spend" more than $500 of your time and energy in going to all the different places seeking your goal of $9500. If you're in the second situation, take the $9000 from carmax to pay off the loan and call it good.


Sorry, had to be done!


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jbutler

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honestly glad you hit the good side of variance, but i have to believe that you were a big dog to get that offer. still, congrats.

now go spend your newfound treasure on driving lessons for your wife. ;)
 

johnnycnote

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You mean you didn't get up to leave at least once? That salesperson is probably still kicking himself for starting so high. Lol!
 

grandgnu

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You mean you didn't get up to leave at least once? That salesperson is probably still kicking himself for starting so high. Lol!

Lol, I could've probably gotten a few hundred extra out of him at least. But was just too exhausted given the way work has been going (and too surprised that they didn't start at $8,400) to bother.
 

BNM

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I am glad you got a better deal but I disagree with your conclusion and your reaction - a small move and a good way to encourage people to not respond to your posts in the future.
 

grandgnu

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I am glad you got a better deal but I disagree with your conclusion and your reaction - a small move and a good way to encourage people to not respond to your posts in the future.

Oh lighten up Francis, I was just having some fun. people bust on each other all the time around here, no actual harm was intended
 
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