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, Fri, 5 Aug 2005 15:07:48
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You raise a great point. I agree that the trade is worth what the trade is worth. Absolutely a true statement. My assertion is that sometimes the expectation (often coming from the internet via the KBB site) can lead to an unrealistic expectation of value. For example: Very recently I had a customer that wanted a 92X. The customer searched all over the region for the vehicle, and we communicated via email for two weeks before she came into the dealership, 1 1/2 hours from her home. I provided her with a price figure based on the GM price and the AMA on that model at that time. She told me she wanted $3000 in trade for her vehicle which she told me was in good condition and KBB said that is what it should get for trade in. (European import that I will not name) I told her that it is our policy not to agree to trade figures on the phone, and that we would appraise the car when she came in. When she arrived, the car was nowhere near KBB "good". Interior torn and filthy, check engine light on, 2 bald cord-showing tires, high clock, and literally...not a straight panel on the car. This car had hit everything but the state lottery. There was no possible way we were going to come close to the figure she had in mind. To her, the car was in KBB "good". To us, the car was barely a wholesale piece, with a zero actual cash value. We all tried, very reasonably, to explain this...to no avail. Two managers were involved, and when the woman called family on the phone, even they said her car wasn't worth $3000. We just could not get this person to understand that at our best possible price point, we could not come anywhere close to $3000 on this particular trade. The reason was the subjective interpretation (although it is explained) of what the word "good" means on the KBB website. This car was a charitable "fair" bordering on unsalable. We did the best we could, but the deal crashed and burned, because of unreasonable expectations over a trade value. We spent two hours with this person, increased our offer twice, and still no go. The price of our unit was OK, the payment terms and financing was OK, the customer had been approved at a good interest rate (outside of our dealership). Three experienced Saab guys tried to make this happen and, as you know, sometimes it just won't fly.
By the way, we absolutely love to get inventory like a '99 CVT, and I think they lowballed the trade. You are right...It was a bad, bad move.
posted by 24.60.222...
, Mon, 8 Aug 2005 07:21:22, Mon, 8 Aug 2005 15:58:15, Tue, 9 Aug 2005 06:21:15
, Mon, 8 Aug 2005 07:54:45, Mon, 8 Aug 2005 14:48:31, Mon, 8 Aug 2005 16:00:30, Fri, 5 Aug 2005 14:50:17, Fri, 5 Aug 2005 15:07:48, Thu, 4 Aug 2005 16:48:55
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