I'd like your opinion, on whether I'm being offered a fair trade in value on my SRT-6.

I'm looking at a 2010 Cadillac SRX, with supplier pricing of $40,612 + taxes, title, etc. The dealer is offering me $15,000 trade in for my SRT-6.

The car has 15,xxx miles, navigation, new tires, one minor ding, some slight curb rash on one wheel, and no mods. The original warranty is good until either February or March 2011. I looked at the listings on Autotrader.com, and it's looks like people are asking around $19,000 to $20,000 for SRT-6's with similar mileage. But the question is, are they actually getting that figure?

Thanks for your opinions. I don't whether to take the $15,000 trade and run, or try to sell it on my own first.

 

Unfortunately dealer allowance for trades and current "retail" price for used aren't the same. If they were they couldn't make money. They'll take it from you for 15k then turn around and sell it for 19k.

What does KBB say on a clean trade for your car? Of course trade-in value is the lowest value of your car, next to private sale, then retail.

Do I think it's fair- probably not, I'd shoot for something closer to 17 but are you going to get offered that....more than likely no.

PS The new Caddy SRX's look great! They are very overweight though and are sluggish even in the SUV world of "performance".

 

if you take the 15 you will save the tax (example 15000 @6% = 900 off your taxes for the new car) but if you sell the car say for 18000= +3000 to you - the 900 tax you would have 2100 to the good. hope that helped,,, if you don't have to sell right now ,,put it up for sale and wait til some one gives you the 18 or more,, your car is going up every day,, good luck. jim

 

Thanks for the advice. The KBB trade-in value (excellent condition) is $17,425. Private party value is $19,795, and the suggested retail value is $22,345.

With the current economy (plus winter coming up), I really don't know if I can get more of a trade. Another Caddy dealership offered me only $13,500, which resulted in me running for the door.

Yep, I agree...the new SRX's are a little sluggish, especially when compared to my beloved SRT-6. But, I'm in need of a more family oriented car, and I've decided that I don't really need to drive 120+ MPH on my way to work and back.

 

Good point about the tax difference Jim...I had forgotten to take that into account.

 

I say if you are not in a hurry sell the SRT for 17 and then go get the Caddy.

Anybody would buy the SRT for 15!

Hmmmm. Do I really need three SRTs?!

 

Do me a favor (and don't laugh) my wife and I test drove a dozen standard to luxo SUV's ranging from the Lexus RX350, Infinity FX, Lincoln MKX, and so on. The one we ended up going with which was, by far, the most spacious, comfortable, and easy to access- the Ford Flex. Up until this date I've never owned a single Ford in my life but we are very happy with it! PS They offer 0% financing PLUS $1500 rebate on left-over 09s. This is the first time I've had an auto loan with no interest- it's great!

 

[quote=cross><hair]Do me a favor (and don't laugh)...quote]

Sorry. I laughed! I'm sure the Flex is sweeeet I'm just not much of a Ford guy.

Out of my 17 cars only one is a Ford. The wife's mini van. Would not have gotten it except they really made a deal on it at the time. Now our $27k van is worth $4500, 9 years later.

And I thought the price on Crossfires was going down fast!

 

Nothing to laugh about...in case you haven't noticed, the Ford Flex looks almost exactly like the Lincoln crossover (MKX?). The only difference I can see is the grill, nicer interior, and a huge price difference. My husband likes them, but I don't...and since it'll be my car, I win.

So guys...help me understand something please. A few posts above, Jim explained the tax implications with a trade-in. Let's say I get $15,000 trade on my vehicle, but I still have a loan on it for around $15,000 as well. Do I still get that $900 savings (assuming a 6% tax rate)?

 

Sherry,

There is another little game the dealers play via trade-in pricing. Some will offer more for your trade and then not discount the new car (or even jack it up a bit). So it is possible that one might offer less in trade but also sell the new car for less. At times it can be a wash and others it might be even better to take the lower trade-in.

 

I for got my own rule for buying a new car,,
1. ask to see the sales manger, tell him you were sent by your credit union and they told you they(the dealer would sell you a new catty for invoice) then remind him that you don't pay dealer fee, go to a different dealer or just call one and ask for the manger and tell him that, once you have done this then tell him in person that you want to trade in your car and that you owe 15000 on it want at least 17000 in trade,,,, 90% of the time they will say ok. jim

 

You are thinking of the Ford Edge and Lincoln MKX- those are the same. However Lincoln has an upcoming SUV based on the Flex.

This is the Flex (fyi):

 

Did you get the Ecoboost 6?

 

Sherry - you can't go by Kelly Blue Book, I don't think there are any dealers using that. That information is provided by an auction now days, wish I could remember the name of it. It has been discussed here before. A buddy of mine on this forum just bought a beautiful SRT 6 Coupe, think its an 05 and it had real low miles from a dealer in NJ for $16,000.
Like the others here have said the 15k deal gets you into your new car now otherwise you can hold out and hope you find a buyer willing to pay more.
Pat

 

Unfortunately no- they debut in the 2010 model. I saw a video online with one running a 14.5 stock. Not bad for a heavy boat.

 

Ahh I wasn't aware of their availability. I hope, for the owners' sake, that a nice aftermarket develops for that engine. Although with it being installed in such "Unusual for that type of engine platforms" it might not catch on.

 

It's a full size Scion Xb

 

You could buy the Jeep Grand Cherokee SRT8 and have a sport utility and the power or an SRT 6 all in one. .. J/K

 

I used to be a Chevy guy and I still have my 1965 Chevell that I've had since I was 15, but the only POS GM I'd buy is a Camaro, but I'd still take a Mustang over one despite the better looks. I've had a couple F-150s and they've all run trouble free for over 200k miles! I had a 2002 Mustang GT which was a very fun car and very trouble free car. Ford is the only American car company that refused to take money from the government (hard working tax payers). They realized long before the other two companies that quality is job 1! The interior materials are better, fit and finish is better, refinement is better, and the dealer experience is better. They are kicking GM's but now because they showed great restrain and honor by not taking our money to survive. Go FORD!! (start the flame throwers). I would never buy a waste-of-gas "luxury" SUV, let alone a glorified Opal/Saturn View/Caddy, sorry. Spend that 40gs on a nice Infiniti G37 Sedan or certified used BMW or Ford flex. Better yet, hold out for the Lincoln MKT! Have you seen one of these yet?

 

Now this is a nice ride if you need to haul people:

2010 Lincoln MKT Information & Pricing | The Official Site of the Lincoln MKT | Lincoln.com

And yes, you can get the Eco-boost twin turbo V6 with 355hp and 350 ftlbs of tq.