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Back it up to the modem...... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Thu, 12 May 2005 13:23:18 In Reply to: online trade-in appraisal, awg, Tue, 10 May 2005 20:47:03 Members do not see ads below this line. - Help Keep This Site Online - Signup |
That's the smart alec phone line. Someone calls ands asks what their trade is worth and you ask them if they can back it up to the phone so you can listen to it. Usually there's prolonged silence as the the caller seriously contemplates getting the vehicle close to the phone.....
Dunno how good it works nationally, but west coast folks might try KBB.com, trade in value, and here's the kicker, use "FAIR" as the condition even if the vehicle is actually good or even excellent. The value at "FAIR" condition reflects the realistic actual trade in value of most vehicles.
As an example I just "booked out" a Hyundai Santa Fe for a friend, a 2003 with 40k. Actual wholesale Kelley Blue Book, which you can't get at KBB.com, you have to purchase the books or Karpower software for that as a licensed dealer or lender and it's the standard for communicating values among used car folks, anyway, actual wholesale book was $12,125.
Over at KBB.com, trade in value at fair condition, KBB says $8,920. Surprise, surprise, when I called the Hyundai dealer, the used car manager said he was a buyer at "three grand back" which references the actual wholesale book of $12k less an adjustment of $3k or rougly $9k.
The point being that KBB.com, fair is a good, realistic, reference point in today's incentivized market for the average vehicle, average being a car that meets lease return standards for example. Every now and then a vehicle might fetch the value for good, but getting a feel for that makes you a good candidate for making a small fortune in the used car buisiness, just start with a large one.....
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