Trade-in Values?

[DAC17]

Although I know there will probably be very limited data on this, I'm curious if anyone has traded in their 4BW (my MSRP $68,200). I had previously posted about the problems my wife and I are having with the natural tan sport seats, so figured I'd order a new one with just the base seats, then have the local upholstery guy change the color to match what we have now. Carvana has offered 69,000, and taking into account CT sales tax credit on trade-in, I'd have to net about $64,000 in trade to match that. Any thoughts (not on the wisdom of getting rid of the current one...)?

 

[Ivy1Le]

Although I know there will probably be very limited data on this, I'm curious if anyone has traded in their 4BW (my MSRP $68,200). I had previously posted about the problems my wife and I are having with the natural tan sport seats, so figured I'd order a new one with just the base seats, then have the local upholstery guy change the color to match what we have now. Carvana has offered 69,000, and taking into account CT sales tax credit on trade-in, I'd have to net about $64,000 in trade to match that. Any thoughts (not on the wisdom of getting rid of the current one...)?

I got roughly MSRP when I traded mine in. I only had 1,000 miles on it though. On paper it was almost $3k over MSRP but other dealer adds chipped away at that.

Look for which cadillac dealers in your area have the highest markup on new or biggest premium over sticker on used and you should be able to trade for close to sticker. My MSRP $69,175, On-Paper Trade was $72,000. I think they ended up selling for $76,991 or at least that was the last list price

 

[raptor5244]

Not sure but if Carvana is offering $69k that is a good sign. You could get a figure from Vroom and Carmax to get a better feel.

I am in slightly similar situation. I have a 2023 4BW on order that has the exact build I wanted. However, I was able to pickup a low optioned 2022 with the base seats for MSRP. If my 2023 ever gets built then the trade-in value for my 2022 has to be pretty strong or I will just settle and keep what I have.

Keep in mind that the 2023s had $1500 price increase but if you go with the base seats you will knock $5500 off the price anyway. You will also lose the suede on the headliner, door panels, etc. I am not much of a fan of suede so it doesn’t bother me.

 

[M2Cto4BW]

Take a look at driveway.com while you're at it. They are the web frontend for the Lithia Motor Group.
I got the best offer on my M2 Comp via them.
Because it was a 'high-end' model they sent someone from their local BMW dealer to pick it up directly. Anyways just another suggestion.

 

[raptor5244]

Take a look at driveway.com while you're at it. They are the web frontend for the Lithia Motor Group.
I got the best offer on my M2 Comp via them.
Because it was a 'high-end' model they sent someone from their local BMW dealer to pick it up directly. Anyways just another suggestion.

Indeed. Driveway.com provided the strongest offer on my ZL1 for a while but in the last 3 months or so they all dropped pretty significantly. I am starting to see the market soften quite a bit in my area, which is nice to see because these ridiculous markups need to stop. People are going to be so upside down on their loans...

 

[Finally-a-V]

I got almost list for mine with 2000 miles.

 

[Ivy1Le]

Indeed. Driveway.com provided the strongest offer on my ZL1 for a while but in the last 3 months or so they all dropped pretty significantly. I am starting to see the market soften quite a bit in my area, which is nice to see because these ridiculous markups need to stop. People are going to be so upside down on their loans...

It's crazy to see how these sites feel about different cars. My M2C Driveway was the highest, in hindsight I should have taken their offer when I knew I had secured a car. On my RC F Carvana was the highest. Carmax is never actually competitive for me, must be a regional thing although they claim you'll get the same trade offer nation wide.

Shift is usually right in between Driveway and Carvana, the only caveat being they don't accept current model year trades. Shift will only take a 2021 or older currently, no idea when they will start accepting 2022

 

[raptor5244]

It's crazy to see how these sites feel about different cars. My M2C Driveway was the highest, in hindsight I should have taken their offer when I knew I had secured a car. On my RC F Carvana was the highest. Carmax is never actually competitive for me, must be a regional thing although they claim you'll get the same trade offer nation wide.

Shift is usually right in between Driveway and Carvana, the only caveat being they don't accept current model year trades. Shift will only take a 2021 or older currently, no idea when they will start accepting 2022

Yeah, it is all over the place as the market tries to readjust to inflation, interest rates, supply challenges, etc. I usually wind up trading to the dealer on vehicles at these price points to save on the tax. On a $60k vehicle they know they have $3-4k in tax savings so they can low ball you a bit and get away with it.

 

[Ivy1Le]

Yeah, it is all over the place as the market tries to readjust to inflation, interest rates, supply challenges, etc. I usually wind up trading to the dealer on vehicles at these price points to save on the tax. On a $60k vehicle they know they have $3-4k in tax savings so they can low ball you a bit and get away with it.

yeah, they always want to show you the "with tax savings" number on the trade paper.. The difference between trade and retail is getting ridiculous. Pushing 10K on most of the sports cars we in this forum would be interested in.

 

[M2Cto4BW]

It's crazy to see how these sites feel about different cars. My M2C Driveway was the highest, in hindsight I should have taken their offer when I knew I had secured a car. On my RC F Carvana was the highest. Carmax is never actually competitive for me, must be a regional thing although they claim you'll get the same trade offer nation wide.

Shift is usually right in between Driveway and Carvana, the only caveat being they don't accept current model year trades. Shift will only take a 2021 or older currently, no idea when they will start accepting 2022

Ya I don't know if their metrics are different due to having their dealer network data and/or they know their expensive cars will go to their corresponding dealers that can more likely shift them for a better price, than sitting on some huge generic lot with a bunch of 5 year old SUVs and rental-car types, where buyers are way more price conscious first and then shape of the car second, or 1/1a.

I paid $62.5k for mine and sold it with 2 weeks left on its annual registration and ~6k miles for $66k.
Dealer listed it at $72k and took $70k for it. It was mint, so an easy prep, sell it within a week, and make a quick $4k. This was end of June/start of July, so not sure how much longer those practices can be sustained.

 

[Ivy1Le]

Ya I don't know if their metrics are different due to having their dealer network data and/or they know their expensive cars will go to their corresponding dealers that can more likely shift them for a better price, than sitting on some huge generic lot with a bunch of 5 year old SUVs and rental-car types, where buyers are way more price conscious first and then shape of the car second, or 1/1a.

I paid $62.5k for mine and sold it with 2 weeks left on its annual registration and ~6k miles for $66k.
Dealer listed it at $72k and took $70k for it. It was mint, so an easy prep, sell it within a week, and make a quick $4k. This was end of June/start of July, so not sure how much longer those practices can be sustained.

I ended up trading mine for $57.5K .. I paid a little over $60K for it. I could have sold it to Driveway for $62.3K when I confirmed my BW would be mine but I didn't know how long I'd be without a car. Ended up being over a month. Dealer sold it for $62.5K (or least that was the last list price) which is exactly what I knew they'd sell it for but they wouldn't budge on trade. Originally listed it at $65K had almost 11k miles

 

[raptor5244]

yeah, they always want to show you the "with tax savings" number on the trade paper.. The difference between trade and retail is getting ridiculous. Pushing 10K on most of the sports cars we in this forum would be interested in.

I think the traditional dealership model is about the crumble. The younger generation wants nothing to do with a traditional dealer experience. These folks will probably only buy a vehicle if it can be ordered online at a fixed price. They expect to use an app for everything.

 

[Ivy1Le]

I think the traditional dealership model is about the crumble. The younger generation wants nothing to do with a traditional dealer experience. These folks will probably only buy a vehicle if it can be ordered online at a fixed price. They expect to use an app for everything.

there's always used cars. I was talking with my advisor at BMW about how it's crazy how much people detest going to a dealership to buy a new car but yet most people would still buy a used car for $3,000 more from a perceived reputable dealership opposed to buying that same car cheaper from a private seller.

Sites like cars and bids or bring a trailer withstanding.. because.. well most gearheads think they have the magic touch when it comes to cars

 

[M2Cto4BW]

I think the traditional dealership model is about the crumble. The younger generation wants nothing to do with a traditional dealer experience. These folks will probably only buy a vehicle if it can be ordered online at a fixed price. They expect to use an app for everything.

Yes and no.
For sure online and less human interaction is what folks want (heck including GenXer me), but that's why every dealership has an internet sales dept and why places that act like proxies (truecar for example) exist. For new cars you still need to work in that ecosystem and there are ways to make it less painful.

Heck both my M2 Comp and my 4BW were bought without talking to a human until it came time to sign.

On the used side, places like Carmax do good trade with a hybrid model.
I'm no fan of dealer networks and people act like if they go away all of a sudden it'll be a buyer's paradise. It won't: our suspicions and bad experiences just move one-level back on the supply chain.

Like folks saying how great 'cutting the cord' will be with all these streaming services and we're back in the same boat, paying lots of money for 3/4s rubbish to get the 1/4 we want to watch ;-)

 

[raptor5244]

Yes and no.
For sure online and less human interaction is what folks want (heck including GenXer me), but that's why every dealership has an internet sales dept and why places that act like proxies (truecar for example) exist. For new cars you still need to work in that ecosystem and there are ways to make it less painful.

Heck both my M2 Comp and my 4BW were bought without talking to a human until it came time to sign.

On the used side, places like Carmax do good trade with a hybrid model.
I'm no fan of dealer networks and people act like if they go away all of a sudden it'll be a buyer's paradise. It won't: our suspicions and bad experiences just move one-level back on the supply chain.

Like folks saying how great 'cutting the cord' will be with all these streaming services and we're back in the same boat, paying lots of money for 3/4s rubbish to get the 1/4 we want to watch ;-)

GenXer here as well. I don't mind the dealerships since I am used them and the business practices over the years. It is also fun to get the whole new car experience in the showroom.

However, when it comes to new cars, I really like the build it online, leave a deposit and wait for a VIN process. It was mind blowing to purchase two Teslas this way. You do everything online and when the car arrives you take delivery 15 minutes. Great experience vs. the typical back and forth haggling, messy ordering system, dealer fees and add-ons, etc.

Used cars are a whole other ball game. I know people buy used based on verbal condition and a few pictures but I couldn't do it unless I trusted the person selling the car.

You're right, I think we will see a hybrid approach for years to come to serve both type of buyers.

 

[DAC17]

Thanks to all for the input. I'll try a few more sites.

 

[flipray]

I sold my 4BW to a Cadillac dealer over a month ago. Car had ~3800, M6, CF1 & 2, MSRP was about $77.5K, managed to sell back for $75K.