How a dealer values your trade

I'm Ted Heater, Dealer for the People, and today I’m spilling the beans on exactly how car dealers decide the value of the car you want to trade in when car shopping.  When we look at a trade in we make a determination whether we turn around and sale it on the lot or take it to auction. Once we make a determination, it effects how we value your trade.  If we decide to take it to auction, we use Manhiem market report and we see what a similar car has sold for at the auction in the last 30 to 60 days.  Our only goal at auction is to cover our fees and come out even.  At the end of the year if our wholesale report shows a zero balance it makes for a happy owner.

If we are going to turn around and retail the car to our customers we have to look at what it will cost us to repair that car in our shop.  We look at three things:

1) Is the car up to date on its maintenance?

2) Is there any cosmetic issues that need to be fixed (dings, dents, broken windshield, etc)?

3) Is there any major repair issues (air condition is not working, radio is not working, etc)?

So we assess what it will cost us to repair the car and then we have to build in a profit.  So we use the major guide books,  Manhiem market report and the NADA guide book. Then we give you a value for your car. Our goal is to give you the maximum value without hurting our future ability to resell that car.  If you have any questions contact us.

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3923 North Oak Trafficway
Kansas City, MO 64116
816-452-5292
www.getcarsmart.com
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