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« Do You Have Equity or Cash or Both? | Main | Time To Replace Your Vehicle »
Tuesday
Jan192016

You Have A Trade In...

Who doesn't have a trade in?


How many trade ins have negative equity?

The classic sell it yourself, to get more money.

The ongoing conversations around trade ins are antiquated, stale, and a different version of the same old.

In 2016 empowered by technology do you want to be part of the "haves" with the same old stories, perspectives. Or do you want to be part of the "have mores" by being innovative and disruptive?

The "Haves"

I'll get low balled by the dealer, who is an expert negotiator they earn a living negotiating. I'll try to sell it myself, how challenging can it be to sell a 15 to 20K vehicle out of my driveway? Dealers do it every day.

We could keep on going, surely by now you know the story of the "haves".

The "Have Mores"

I need to maximise the value of my vehicle. I need to sell my vehicle to a dealer. I know what my vehicle is worth. I will clean my vehicle or have it detailed...we all buy with our eyes. I will have my own Carproof report for my vehicle. If my vehicle is financed or leased I will know my payout. I will know if I am in a positive or negative equity position.

Sell it yourself from your driveway

If its a 1K to 5K vehicle its somewhat easier, if its a 15K to 20K vehicle its dramatically more challenging to sell it from your driveway, while providing financial services to fund the sale.

I want the most money for my trade in

Everybody wants the most money, in a wishing and hoping way. You did your due diligence, your vehicle is clean inside and out, you have a Carproof to support the "provenance" of your vehicle. You know the pay out if its applicable. In your mind you have a "value point" for your vehicle that will trigger a decision.

You have a story line to describe why your vehicle is unique, why its worth more money.

The dealer is a magician with trade ins

Remember the dealer needs to take a trade in to close a deal. Especially around the end of the month there is heightened pressure on the dealer, and sales consultants to close additional deals. Does the vehicle you are trading present a retail profit opportunity to the dealer? Be aware that his software already told him if your vehicle today is a retail opportunity, or a wholesale unit.

The dealer is not a magician, he is as vulnerable as you are with trade ins.

 

 

 

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