AboutJeremy Beck Expertise I can answer any question as it relates to the purchase or lease of a new or pre-owned vehicle. I can give you advice in purchasing from a franchised dealer or private party. Buying a vehicle can be a very difficult and frustrating experience, but it doesn't have to. Know before you Go! Let me help you with any of your questions.
Experience I have been in the automotive business for 10 years. I have held every position from salesperson, Finance Manager, New Sales Manager, Used Car Sales Manager, Finance Director, and Director of Sales and Finance. I graduated from the University of Texas with a major in Business Administration, and have held many sales jobs in the automotive sector. I am a member of the Association of Finance and Insurance Professionals (AFIP). I have also been trained by some of the best schools in the business including JM&A, Ethos, VT/AIG, Inc, and various others.
Question In June I traded my 2002 Toyota Avalon XL and paid cash for a 2009 Avalon XLS, in anticipation of a situation that did not develop. I find that I don't like the car nearly as well as I did my old one (it's too big, too hard to shift, I don't like leather seats, too many functions that I will never use etc.)
This is what I am thinking about doing: Sell or trade the XLS, with 5000 miles, (My zip is 73013 if that helps.) The KBB trade in value value is Approx $29K. I want a stripped down 2009 Avalon XL, cloth seats and as few extras as possible. The KBB MSRP is approx $29K. I bought my last two AValons at 75% of the sticker price before trade in. that comes out to around $21,700, target price. (I realize that it will be more because KBB MSRB is always a little low and most cars have a couple of thousand dollars worth of "extras".)
Is this realistic? would I be better off trading the car at the Toyota dealer or selling it outright to a place like carmax or diffee motors which is a local company that has been in business for 50 years, "buying nice clean cars" as they say in their ads.
If I can talk the Toyota dealer into giving me a reasonable trade in, How do I trade down? Do they just hand over the car and a check for the difference? Seems unlikely!
Thanks, Jo
Answer Jo,
Thanks for your question. I think what you are asking is very realistic. You have done your research, and seem to know the accurate values of the cars. What will happen is that once you agree on numbers with the dealership, they will take your car in trade, and you will hand over the title. They will apply for a new title for the new car, and cut you a check for the difference. Now that check won't immediately be ready, it will take the dealership a week or two, but you should have paperwork that they will provide you showing how much they owe you.
