So I go to the dealer to see how much I will get for my 03, Honda Accord LX, 2.4lt Black Sedan. My car is in perfect condition with only 130,000 miles, and they were only offering me 3,000 bucks for my car in order to get a 08 Accord. I told the guy, I would not do that, because that's exactly what they ask for the financing price, 2,800. How stupid would I be to do that ?

So the car dealer goes on telling me, my car is about 9yrs old. Plus it has tons of miles on it, and even on the street I would not get more than that. I told the guy really, and went to my email and showed him all the emails I got from Craigslist buyers wanting to give me 5,000. The reason I didn't sell it, is because I wanted to see how much the dealer would give me, knowing I was going for a trade in, but I just found it to be a real rip-off.

I went to their site, and they have a 03 Honda Accord with about 3,000 more miles than mine, and bad body paint. Guess what! They're selling it for about 7,500. I was so shocked, and I was saying in my head, "Thank God I didn't get desperate this time". So if that car was on sale for that price, and mines was in better conditions I imagines how much money they would have made from it, from any fool.

Anyway experiences, advices, or stories similar ?

 

That's just good business on part of dealer, buy low and sell high. They get a lot of trade-ins for virtually no cash out-of-pocket. They may add some value w/ minimum warrantee, but most older cars are sold "as is". There is some value to buying from a dealer as opposed to unknown seller on craigslist. Used cars are in demand now, so direct sale by owner is best way to get true value of your vehicle.

The biggest hassle in private car sales is the bums who buy the car but don't transfer the title to avoid paying sales tax.

good luck

 

I've gone to the bank with the buyer. He has the money to deposit in my account, the bank has a notary for the title, and I don't have to worry if his cash is counterfiet. Works great.

Another scam I've heard (but not experienced).... The buyer doesn't transfer title, and uses the car in a crime. YOU are still the registered owner.

 

That is how dealers make money. I wouldn't trade a car in unless it was a real pile and you knew they were either going to scrap it or send it to auction.

You will almost always get more private sale than trading it in.