Trade-In Value?

[Dani]

Anyone have any ideas on what the approx. trade in values people are getting from trading in an '06 on a newer model? I went to a non Hummer dealer today and they said $21k but the hummer dealership is telling me that that is too low.

The non hummer dealership also told me that there has been a lot of used H3's around for sale- and that's why they will only offer $21k.

[Freak]

kbb.com

[Dani]

I tried that and was told that those values aren't reliable

[D-MAX]

good luck i got ofered 25k for my top of the line 07 h3x. not worth the trade in espeacilly when you owe about 35k like me

[Dani]

That's exactly what I was afraid of. I'd be getting another Hummer but I'm still bitter about all the crap I've gone through with my current H3. Engine is acting up yet again but dealership insists there's nothing wrong with it. I'm too tired to fight with them anymore so off the Hummer will go. I guess I just have to cut my losses.

[Dave92270]

I think that unless the dealer is your good friend or you do a lot of business with them regularly, you can only dream about getting the KBB prices... I'd think that most dealers will give way less for vehicle then what KBB says. We traded-in 2 vehicles earlier this year, and we got about 30-35% less then what was my worst expectation based on KBB, one each of them. They were both in excellent shape, fully loaded 4WD's, low milage. Few years back I had the same experience when getting rid of my Grand Cherokee - didn't get hardly anything for it, although I sold that one for cash to local auto-buyer/trader.

I've been also thinking about trading-in my current H3 for more suitably equipped model (would like to get H3 with manual transmission, adventure package and no chrome), but I'd expect heavy beating on the trade-in value; can imagine that my H3 would yield only about 60-65% of what I paid (around $40k), I have less then 2k miles on it... so to get that desired H3 with MSRP of $32k, I'd have to probably come up with another $8k+ on top of $40k I paid half year ago... screw that, I'll keep mine for some time, at least until GM will come up with V8 non-Alpha H3 version..if that ever happens.. BTW, KBB lists my H3 at excellent shape trade-in for $32k, so I'd expect from my dealer no more then $24-25k.

Please someone correct me if I'm wrong with my opinion on trade-in values.

[H3.007]

Dealership sales people are trained to low-ball. Shop around for different offers if you have a variety of dealers at hand or in nearby cities. Carrying your cell phone and having the other dealerships' numbers handy is an excellent way to get dealers to be fair with their negotiations. I did this a few years ago with a buy decision between an S10 Blazer and a Ford Explorer Sport. First dealer wanted only to negotiate $350 from $10,000 - and the rear window squeaked badly which they would not fix. I then went to a nearby Ford dealer and checked out the Explorer. They initially told me they were selling it for $9,000. When I gave them a run down on several things that would need to be repaired - some items were even questionable when it would come to inspection - they came down about $1,500. I then got on my cell phone to the other dealership and told them where I was and I what I was negotiating. The first dealership dropped another $250 - an insult. At about that point the Ford salesperson asked what I needed to see as far as price. I asked him to wait at which time I called my insurance company for the KBB value. They told me $6,000 based upon my evaluation. I told the Ford salesperson the number and he stated he' have to check with the assistant manager. Said assistant manager appeared and asked me what I wanted for a price so I again repeated the figure, including that I expected the tax and title to be included as I would be paying with a certified check. I left the lot with the approved sales contract for the Explorer in hand and picked it up two days later after they had fixed the items that were questionable from an inspection perspective (at no cost).

A day later, the first dealer called me and when I told him I had bought the Explorer, he actually had the gall to decrease his price another $2,000 and practically begged me not to take delivery of the Explorer. I politely declined and wished him the best of luck *click*.

So, the moral of the story is if you are not financing the purchase and/or can play your cards right, these low-balling dealers will find that they will not be moving vehicles- except around their lots out of boredom or to the occassional, underinformed consumer who is not a savvy negotiator.

[RubHer Yellow Ducky]

Originally Posted by Dave92270

I think that unless the dealer is your good friend or you do a lot of business with them regularly, you can only dream about getting the KBB prices... I'd think that most dealers will give way less for vehicle then what KBB says. We traded-in 2 vehicles earlier this year, and we got about 30-35% less then what was my worst expectation based on KBB, one each of them. They were both in excellent shape, fully loaded 4WD's, low milage. Few years back I had the same experience when getting rid of my Grand Cherokee - didn't get hardly anything for it, although I sold that one for cash to local auto-buyer/trader.

I've been also thinking about trading-in my current H3 for more suitably equipped model (would like to get H3 with manual transmission, adventure package and no chrome), but I'd expect heavy beating on the trade-in value; can imagine that my H3 would yield only about 60-65% of what I paid (around $40k), I have less then 2k miles on it... so to get that desired H3 with MSRP of $32k, I'd have to probably come up with another $8k+ on top of $40k I paid half year ago... screw that, I'll keep mine for some time, at least until GM will come up with V8 non-Alpha H3 version..if that ever happens.. BTW, KBB lists my H3 at excellent shape trade-in for $32k, so I'd expect from my dealer no more then $24-25k.

Please someone correct me if I'm wrong with my opinion on trade-in values.

no correction needed...

[RubHer Yellow Ducky]

Originally Posted by Steve - SanJose

Prepare to take a bath on a trade.

Almost ANY Trade...

[Dani]

Hmm....this may not be so bad afterall. Took the H3 to another dealer today and they offered me $25k.....$4k more than the last dealer. I just may have to take it.

[lance-n]

yes, i paid over 40k for my h3 as well.
consumers always get hosed on trade-ins
but, i purchased the vehicle with the plan to drive it for 5 years.
2 years later, i still love it and plan on driving it at least another 3 years, or so...

on the bright side though...
my wife and i were car shopping last week for a car for her.
we found a 2007 nissan armada 2wd fully loaded, purchased this past april for less than 70% of what the buyer had paid for it
it was a private seller
it is in perfect condition
we just drove it down the baja this weekend and i have never driven a more smooth, comfortable and powerful suv.
definitely NOT an off road hummer, but an unbelievably nice ride!

[wannabeH3]

26k for a pristine 06 24k for my beat up 06

[ChrisInCali]

Was offered 25k from a local Chevy dealer, and 16k from Toyota for a fairly loaded 06 H3.

[lance-n]

Originally Posted by ChrisInCali

Was offered 25k from a local Chevy dealer, and 16k from Toyota for a fairly loaded 06 H3.

Well, I guess that just proves that Toyota is still pissed off that their FJ Cruiser doesnt even come close to measuring up to the H3 and they want to take it out on H3 owners!!!

[Dani]

See- I got the opposite offers. I got an offer of $19k from a Hummer dealer (who swore up and down that the H3 would retain it's value far better than my Honda) and an offer of $25k from a Toyota dealer. I hate the FJ but I'm still bitter at Hummer for they way things have been handled with my POS H3. I may just buy one (the FJ that is).

It's been a sad week in my house.....looking for a new vehicle has taken it's toll on my poor 9 yr old son. He cried because he thought I was gonna trade the H3 for something other than an H3 and to him- that would be the end of the world. Oh to be a 9 yr old and only that to worry about

[lance-n]

sorry you have had so many issues with your vehicle.
you could imagine my nervousness when i took my brand new 2006 h3 across the border with only 200 miles on it to over 1,000 miles south where there were no dealers or any sophisticated mechanics!!!
fortunately, other than some false warning lights and codes, i have had zero issues with mine - and i abuse the hell out of it!!!
lots of washboard roads and big potholes, at least a couple miles of dirt everyday, with plenty of beach driving thrown in
and i have to say that i am happy with my purchase decision and would be happy to buy another product from them


one other thing - your kid is right
don't be responsible for ending his world!!!

[H3_ATX_BLK]

Originally Posted by Dani

I tried that and was told that those values aren't reliable

I ran my 05 Dodge Dakota 4x4 through KBB when I traded it in on my 2k7 3, and they said 14,500 and thats what the dealer gave me, so they seem pretty reliable to me.

Just my 2 cents worth.

[nychot]

Originally Posted by Dani

Anyone have any ideas on what the approx. trade in values people are getting from trading in an '06 on a newer model? I went to a non Hummer dealer today and they said $21k but the hummer dealership is telling me that that is too low.

The non hummer dealership also told me that there has been a lot of used H3's around for sale- and that's why they will only offer $21k.

don't buy, lease. no hassles, more car for less monthly payments. who needs the hassle of owning something that loses half its value when you drive off the lot. i have a two year lease on a fully loaded 07 lux. will turn it in a year from this december for a brand new one and drive out same as cash. car ownership belongs back in the mid-50s.

[RubHer Yellow Ducky]

Originally Posted by nychot

don't buy, lease. no hassles, more car for less monthly payments. who needs the hassle of owning something that loses half its value when you drive off the lot. i have a two year lease on a fully loaded 07 lux. will turn it in a year from this december for a brand new one and drive out same as cash. car ownership belongs back in the mid-50s.

I never know how many miles i will put on a truck in a given year... it could be 12000 or 24000 or something else...?

Also I have heard horror stories about "NIT PICK" condition on turn in, never heard a good story, they complain about this scratch, that dent, the sidewall of the tire being worn, etc etc...how do you handle that???

SERIOUS, what are the secrets, ins and outs of the lease return...

[Steve #1]

If you have a CarMax in your area take it there and get it appraised. This is the best way to determine your vehicles value in your area.

Next best is to look it up in the NADA book, this is what the insurance co. use and dealers to a lesser extent.

KBB prices are based on California prices. Yes, even though they ask your zip code.

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Secrets to a lease return? Fix anything that you broke and spend $250 for a detail before you take it to turn it in.