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Discussion Starter · #1 ·
Anyone recently receive a notice from the dealer asking to sell your car back to them? I know used car prices have escalated recently due to various inventory issues and what not. They mentioned that they're willing to pay full KBB price plus another $200. I was curious and checked KBB and got a trade in range from $27,264 - $29,015 which is quite a bit more than what I paid.

Has anyone attempted this buy back offer?

341948
 

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Not the dealer that I bought my Camry from, but another dealer offered me 2 grand more than what I paid even counting tax title and doc fees, and even though I added 2000 miles to the odometer from when I bought it. I even got an offer of 2 grand for a 20 yr old Toyota Echo. Two years ago the dealer wouldn't have offered me squat for it, except to get it off his lot.

The last time I ever made a profit off of buying a used car was over 40 years ago. I bought a Sunbeam Tiger fin bad shape from an individual, spent a lot of hours and thousands of dollars to get it back to snuff. The Sunbeam Tiger was a classic muscle type sports car even back then, even more so now. It was the poor mans Shelby Cobra, and designed by Carl Shelby, had a 289 V8 stuffed into a 2 seat sports car. I've never bought a car from a dealer, did nothing positive to it, and flipped it for a profit, particularly an ordinary sedan like a Camry.
 

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Discussion Starter · #3 ·
Not the dealer that I bought my Camry from, but another dealer offered me 2 grand more than what I paid even counting tax title and doc fees, and even though I added 2000 miles to the odometer from when I bought it. I even got an offer of 2 grand for a 20 yr old Toyota Echo. Two years ago the dealer wouldn't have offered me squat for it, except to get it off his lot.

The last time I ever made a profit off of buying a used car was over 40 years ago. I bought a Sunbeam Tiger fin bad shape from an individual, spent a lot of hours and thousands of dollars to get it back to snuff. The Sunbeam Tiger was a classic muscle type sports car even back then, even more so now. It was the poor mans Shelby Cobra, and designed by Carl Shelby, had a 289 V8 stuffed into a 2 seat sports car. I've never bought a car from a dealer, did nothing positive to it, and flipped it for a profit, particularly an ordinary sedan like a Camry.
I'm somewhat considering it but I hate the hassle of dealing with dealerships and then having to buy another replacement car, that in itself is worth some $$ let alone my time.

Funny thing you mentioned the Sunbeam Tiger, I bought a used car from a guy that owned one and he happened to be a metal fabricator. He basically did some modifications to the engine bay and put in a 1.3L Wankel Rotary, quite an interesting set up.
 

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Been getting these for years from every dealer I've ever bought from.
It's nothing new, it's nothing special, they want to get you in to lowball your trade and sell you a new car.
The difference is that right now the market has gone crazy and used car values are through the roof because nobody has jack for inventory due to the chip shortage.
Carvana values my wife's '15 Rav4 at almost $19k... we paid $26k for it 6 years ago.
 

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Discussion Starter · #5 ·
Been getting these for years from every dealer I've ever bought from.
It's nothing new, it's nothing special, they want to get you in to lowball your trade and sell you a new car.
The difference is that right now the market has gone crazy and used car values are through the roof because nobody has jack for inventory due to the chip shortage.
Carvana values my wife's '15 Rav4 at almost $19k... we paid $26k for it 6 years ago.
Hmmm I was kinda thinking this because no dealer would legit give me that much considering they're trying to maximize profit
 

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You might get a good offer but remember that you still need to buy another car, so what will you gain if your next purchase ends up costing you more because of the price hikes?

When I recently visited the dealer to have my transmission fluid exchanged, I saw a low mileage 2016 Camry that they were asking $23k for.
 
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They would if they think they could sell it for more.
Exactly. The dealers who offered me straight up money (NOT a trade in) for my Echo and the Camry weren't doing it out of the goodness of their heart, they're doing it because in my area the used car market prices have gone up also. The selling price at some dealers in my area now for a similar Camry to what I bought in the spring has gone up almost seven thousand dollars. In addition, they're not sitting around as long even at that inflated price. When I bought the Camry it was just starting to get crazy, because normally in my area you go car shopping and some pushy salesman comes out. What happened however at the dealerships I went to was the opposite, I couldn't even talk to a salesperson about buying a car without an appt. because they were so busy with lots of people buying vehicles all at once. The economy went from 10mph to 70 all of a sudden, and people were in a buying mood.
Most of the people who were buying were almost acting like the character from the TV show Futurama.



I did get a salesman to come out to me, and I was afraid he was going to be pushy about selling a car, but it was the exact opposite. He came out to see if I wanted to my Toyota that I drove in on. (the Echo) I told him that I might not want to trade my car in to him as I didn't know if I was going to buy a car there, and he said that was okay, the offer was a cash offer, even if I didn't buy a car from them. They were selling their used car inventory rapidly and needed replacement stock. Even older cars in great shape were going out the door, just at lower prices. He admitted that in the past they wouldn't have given me anything for an Echo, except as an incentive to buy a new car, but at the moment there was at least some profit to be made in the lower priced segment. If he can give me 1-2 grand and resell it a week later for 3-4 grand it's still profit.
 

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I'm somewhat considering it but I hate the hassle of dealing with dealerships and then having to buy another replacement car, that in itself is worth some $$ let alone my time.
I know what you mean. I spend a lot of time researching and shopping around before I bought the particular Camry that I ended up getting. In my case I wasn't getting a replacement car as much as getting a newer car to use for specific out of state trips with my wife and keeping the old Echo for an everyday driver beater car. Ironically, after I agreed to buy the Camry the reason that I needed a newer car went away, and I'm no longer required to go out of state anymore. Now if I simply want to go out of state with my wife I can just rent. Yes rental prices have skyrocketed but renting for one week a year is still cheaper than buying a car. Because the out of state task has ended I no longer need the Camry, or any other late model vehicle anymore. Granted I still like the Camry, I just don't need it like before. The difference between wanting and needing however is a dilemma.

Funny thing you mentioned the Sunbeam Tiger, I bought a used car from a guy that owned one and he happened to be a metal fabricator. He basically did some modifications to the engine bay and put in a 1.3L Wankel Rotary, quite an interesting set up.
I'll bet it was. Did he say why he went with the Rotary engine?
 

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i had my old 97 tacoma sr5 appraised at the dealer kbb (a year ago) and they would only give to me $4000, best they could do they said
not sure at all if that was a good deal or not but i passed
 

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While its absolutely true you can get a great trade-in price for your car right now, you need to consider the replacement cost. Trade in value jumps by 5K, seems great but the new car MSRP isn't budging anymore so its now 5K higher.

Zero sum.
 

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I get these at least once a year regardless of what the used car market is like. They "need" my car as a trade and can give me a "great" deal on a new one.

Just sales trying to drum up some leads.

Right now might be a little different, because with the used market as it is the might actually be able to give you a higher than usual trade value on your car. That said, the reason the used market is so high is because there is a shortage of new cars. So if you trade in your old car you will also be dealing with that shortage of new cars and might not be able to get a great deal on the new one.
 
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Over many years of car buying, I have found that 99% of these trade offers are just BS, in order to get you in the door. To get the maximum trade value, they assume you will be paying sticker price for the new car, so in effect the added trade value is nothing more than their normal new car discount. If you see an ad for the new car standalone price , and it has a discount, the added trade value suddenly disappears , so you end up at the same place. Then you get the speech about their inflated trade offer being an " average ", and that it doesn't apply to your individual car. I've even escalated the issue to the dealership owner, but they don't want to hear it. It's just the game that is played, so as long as you know the rules, you can deal with it. You very rarely , if ever, get a great sale price on the new car and an inflated trade value on the trade in , at the same time.
Right now, things are a little crazy. Trade ins are worth more, and new cars are probably not being discounted very much. If you do happen to find a discounted new car on a less popular model, you might make out OK if you can negotiate a great trade on top of the discounted price.
 

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i had my old 97 tacoma sr5 appraised at the dealer kbb (a year ago) and they would only give to me $4000, best they could do they said
not sure at all if that was a good deal or not but i passed
Its definitely more...Tacos always have good resale. I think you can just park it somewhere and someone will leave a note to see if you're interested in selling. I had that happen before with my RAV4.
 

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Its definitely more...Tacos always have good resale. I think you can just park it somewhere and someone will leave a note to see if you're interested in selling. I had that happen before with my RAV4.
i don't have a double or crew cab with the 4 doors, that seems to be what everybody wants these days!
plus i live in old Ford Ranger territory...
 
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Discussion Starter · #16 ·
I'll bet it was. Did he say why he went with the Rotary engine?
I believe he mentioned he enjoyed high reving engines and the Wankel doesn't disappoint in that category.
 

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Discussion Starter · #17 ·
While its absolutely true you can get a great trade-in price for your car right now, you need to consider the replacement cost. Trade in value jumps by 5K, seems great but the new car MSRP isn't budging anymore so its now 5K higher.

Zero sum.
Yup, I checked Truecar and average new car prices have climbed considerably, most are going near MSRP and some higher. Crazy times
 

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Discussion Starter · #18 ·
Its definitely more...Tacos always have good resale. I think you can just park it somewhere and someone will leave a note to see if you're interested in selling. I had that happen before with my RAV4.
Totally agree, I believe Tacomas have one of the highest resale value of any car/truck. I've seen 10 year old tacomas still go for near 20K and even higher. Ridiculous
 

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Discussion Starter · #19 ·
Over many years of car buying, I have found that 99% of these trade offers are just BS, in order to get you in the door. To get the maximum trade value, they assume you will be paying sticker price for the new car, so in effect the added trade value is nothing more than their normal new car discount. If you see an ad for the new car standalone price , and it has a discount, the added trade value suddenly disappears , so you end up at the same place. Then you get the speech about their inflated trade offer being an " average ", and that it doesn't apply to your individual car. I've even escalated the issue to the dealership owner, but they don't want to hear it. It's just the game that is played, so as long as you know the rules, you can deal with it. You very rarely , if ever, get a great sale price on the new car and an inflated trade value on the trade in , at the same time.
Right now, things are a little crazy. Trade ins are worth more, and new cars are probably not being discounted very much. If you do happen to find a discounted new car on a less popular model, you might make out OK if you can negotiate a great trade on top of the discounted price.
Totally agree, why else would dealers be in business other than to make $$$. If I did pull the trigger I'd probably go with a different manufacturer and one that may budge a bit more on price. So far there's only one car I'd consider but it's a first time they've used this particular engine for that car so I tend to shy away from the first runs off the assembly line so they can work the kinks out.
 

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i don't have a double or crew cab with the 4 doors, that seems to be what everybody wants these days!
plus i live in old Ford Ranger territory...
Model definitely makes a difference.
I only got $4k for my '08 Tacoma.
Regular cab 2WD 5-lug base model.
I had added fogs and cruise control, along with intermittent wipers.
It didn't even have power windows or door locks... very basic truck. I bought it in 2012 for $13k and put 130,000 miles on it by 2016.

So ya... base model with 150k+ doesn't go for much. I've found that KBB is generally pretty close to what you're going to get.
 
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