Anyone try to trade in your SRX at a Non-Cadillac Dealer??
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Cadillac SRX First Generation Forum - 2004 - 2009 Discussion, Anyone try to trade in your SRX at a Non-Cadillac Dealer?? in Cadillac SRX Forums; I looked at a MB GLK-350 at our Mercedes dealer and sat down to look at paperwork; they offered $9,000 ...
  1. #1
    dctex99 is offline Cadillac Owners Fanatic
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    Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    I looked at a MB GLK-350 at our Mercedes dealer and sat down to look at paperwork; they offered $9,000 for my 06 with 49,000 miles! They
    said that was the going rate. I found lots of them on different dealers sites for the normal $16,$17K retail or morel I told them I didn't want someone to steal my car;merely trade it in!! I stopped at CarMax, but didn't take the time to have it appraised as to what they would give, but they said anything under 30MPG was soft with our $4 plus gas; and pointed to a line of trucks along their back wall that they may NEVER sell. They said the Monday after gas went over $4, their parking lot was absolutely FULL of trucks with people wanting to dump them!! I am looking at a Lexus RX350 next week; I am hoping I don't get the same treatment or at least not quite as bad???:

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    Stillrollin is offline Cadillac Owners Fanatic
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    You won't get much better gas mileage out of the 350 so you may as well keep the SRX and buy one of those >30mpg scooters that are in so much in demand.

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    dctex99 is offline Cadillac Owners Fanatic
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    You missed the point; the DEALER at CARMAX said that only 30 plus cars are in general demand and implied that ALL others are currently less valuable!!!! I don't care about gas mileage personally!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  5. #4
    Stillrollin is offline Cadillac Owners Fanatic
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    I guess I did miss it. We are all different. Like you, I'm not that concerned with gas mileage at this point, either.
    But, I tend to keep my cars longer than most people and your '06 wouldn't even be half way to the end were it mine.
    Maybe you'd be better off selling it privately?

  6. #5
    SRXChris is offline Cadillac Owners Member
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    Dont ever trade a car in to a dealer, they need to offer you nothing so they can profit. Sell it to a end user and you get the difference.

  7. #6
    The Wrench is offline Cadillac Owners Enthusiast
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    I'm sorry, but we did buy Cadillacs, so we all knew going in that resale would be at the very bottom of the heap.
    Add that to the fact that it was a poor selling model, has since been replaced by a much more popular design, is a marginal gas hog, and has a reputation for poor quality; and you get trade-in shock.
    There are only two ways to buy a Cadillac that costs less to own than a Bentley; keep it 10 years and give it to the grandson, or give 20 cents on the dollar for a great used one like yours. I'm taking option #1, and would be pretty happy with it, if I could find a way to replace the seats with something more comfy, such as a park bench.

    I feel your pain.
    DG

  8. #7
    PJ1520 is offline Cadillac Owners Connoisseur
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    Wrench........there is a third option. Buy low mileage 2-3 year old lease turn-ins (and the warranty extension), avoiding the lions' share of the early years depreciation, and then drive them out to the end you describe. My last trade in for the SRX was nothing to brag about. In MA. private party sales are risky, are not "as is", and by law the buyer can change their minds and return the car for a refund.

    PJ

  9. #8
    SLCLK500's Avatar
    SLCLK500 is offline Cadillac Owners Fanatic
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    Dealers are in the business to make money, but I do feel your pain - when you trade-in they typically make money on you twice. Last year when I traded in my 1996 Acura RX with 138,000 miles, they gave me private party retail (~$4K) and for the 2006 SRX that had 96,000 miles that I acquired, they negotiated down to just $500 over trade-in (~$12K), so I made out good. I think the issue is over 80,000 miles - harder for them to sell, but apparently in your case, they don't want to give you what your lower mileage vehicle is worth. I also sold a 1991 Mitsubishi 3000GTVR4 that had 202,000 miles two years ago ($3K) to a dealer when I bought my 1999 SL500 from another dealer (the SL was being consigned by the Dealer's "friend", so I got it for trade-in value ($8.9K with 74K miles). FYI, they listed my Acura for sale for $7K and my VR4 for $7K and both were sold with 2 weeks for some unknown amount.
    PJ1520 and PJ1520 like this.

  10. #9
    PJ1520 is offline Cadillac Owners Connoisseur
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    Very informative SLCLK500.

    The new car dealers have four profitability targets where they have wiggle/negotiating room, making it difficult for the "average" person to keep track of the whole deal: trade-in; new vehicle gross profit; financing; and dealer add-ons (like extended warranty). The sales guys talk all four variables at the same time, and that can get confusing in a hurry.

    If one is not prepared going in to know what is a good or reasonable deal on each of the four pieces, and hence all four pieces when combined......their trade, the new car purchase, the financing, and the add ons......you find yourself either thinking you got a fair deal or feel pressured to unnecessarity give way when you get a good deal on 2 or three or four pieces, only to get annihilated on the others. I like to know walking in how much in total I need to seek in order for it to be a fair deal all the way around.

    In my last trade and the SRX (CPO) purchase, I had a friend that worked at a Caddy dealer who told me the most I could reasonably expect on the trade; I knew both the NADA Blue Book and the fair market value on the CPO SRX; I had the best outside financing worked out ahead of time and then waited to see what the dealer could offer; and I knew the dealer cost and gross profit margin on the add-on, extended warranty. I knew all four pieces.

    If you do your homework and go in prepared, you can do quite nicely and feel comfortable you got a fair deal.

    Like you, SLCLK500, my high mileage and older trade-in vehicle was where I might have done a tad better. Mechanically and cosmetically, inside and out, my trade-in vehicle was an 8 out of 10. Could I have gotten another $1,500-$2,000 in a private party sale? Yes. But as I stated previously, private party sales in MA are risky business. And if one of us ever sells our used vehicle to a friend, acquaintance, or a relative, we won't do it twice. Be prepared for the sour grapes, no matter how good of a deal they got. Never do business with your friends or your relatives. But I digress........

    Strictly used car dealers work much the same way. They secure their vehicles in a variety of ways: in trade, at auction, or through a working relationship with new car dealers who don't want that vehicle on their lot and expose themselves to any downstream issues with their customers. The new car dealer will keep the cream and dispose of the rest to an auctioneer or a smaller used car dealership. "Cream" includes clean vehicles they made a killing on when it was traded in and they have an opportunity to get out from under their required used car warranty (90 days/3K miles, for example) without any big ticket warranty repairs.

    PJ

  11. #10
    08SRX's Avatar
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    If you want fair trade-in value, it won't happen at any dealer. The only way to get near market value is to sell it privately.

  12. #11
    dctex99 is offline Cadillac Owners Fanatic
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    The funny part is that one of the first things the salesman told me when we sat down was that they DON"T use the "4 square system", and not even the TO system!! They don't play games!! If you know the car biz you know what those are. Then proceeded to have the sales manager try to steal my trade and he didn't even drive itl!! Most people have run their vehicles thru KBB and NADA already as I did and knew it was worth $13,300 with 50% tires and extra low mileage but obviously my Mercedes dealer doesn't care and tells every one" I check the Wholesale sheets" implying that these are selling for 2/3 of book. My last deal even CLOSE to that was trading in a Pontiac Grand Am which they offered me a grand less than book because there were so many "previous rentals" around, which was true!!!! Gotta be careful I guess!!

  13. #12
    Professor Wizard's Avatar
    Professor Wizard is offline Cadillac Owners Connoisseur
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    I hate buying cars! especially trading one in.

    I've been lucky - and gotten a couple $k over KBB or BlueBook Trade value on my trades... But I am a fanatic about car care, so they usually want my cars.

    I also drive a hard bargain when buying.

    Once thing I do to.. I always negotiate a cash deal FIRST.... once we settle on a price, then I toss in the "Well - - what would you give me for my... " option.

    But one thing for sure.. SRX's lose a LOT of value with time. Mine was an GM Exec car, 8 months old with 7k miles... $52K on the sticker, and I drove it away for $34k including a GMPP. That is a big hit for a lightly used car.

  14. #13
    dctex99 is offline Cadillac Owners Fanatic
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    Quote Originally Posted by Professor Wizard View Post
    I hate buying cars! especially trading one in.

    I've been lucky - and gotten a couple $k over KBB or BlueBook Trade value on my trades... But I am a fanatic about car care, so they usually want my cars.

    I also drive a hard bargain when buying.

    Once thing I do to.. I always negotiate a cash deal FIRST.... once we settle on a price, then I toss in the "Well - - what would you give me for my... " option.

    But one thing for sure.. SRX's lose a LOT of value with time. Mine was an GM Exec car, 8 months old with 7k miles... $52K on the sticker, and I drove it away for $34k including a GMPP. That is a big hit for a lightly used car.
    Well, that is what they call a "Brass Monkey" in car speak; dealers get a VERY low cost on them so they can make money; years ago I bought a 97 Ford Aerostar with every conceivable option; driven by the CEO of Ford electronics inn Long Beach as one his perks; List price was $25; I bought for $15.700; it is nice to find those!!!

    As I wrote this; MB Dealer emailed me and suddenly my 06 is worth $11,000 instead of $9,000.. I have lost any interest in a GLK350 now; he burned his bridges!!

  15. #14
    PJ1520 is offline Cadillac Owners Connoisseur
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    Quote Originally Posted by dctex99 View Post
    As I wrote this; MB Dealer emailed me and suddenly my 06 is worth $11,000 instead of $9,000.. I have lost any interest in a GLK350 now; he burned his bridges!!
    dctex.........unless the revised ($2K upward) counteroffer on the SRX trade-in allowance by the dealer is still not high enough in your opinion, fine. But if it is fair, the MB floats your boat, and the GLK350 price is likewise reasonable, why would you say that "he burned his bridges."

    The entire point of the negotiations is for you to get what you want at the transaction price you feel is fair, and for the dealer to feel he got what he needed $-wise.

    Would you have made the "new" deal if it had been offered two days earlier?

    PJ

  16. #15
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    SLCLK500 is offline Cadillac Owners Fanatic
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    Re: Anyone try to trade in your SRX at a Non-Cadillac Dealer??

    Quote Originally Posted by PJ1520 View Post
    dctex.........unless the revised ($2K upward) counteroffer on the SRX trade-in allowance by the dealer is still not high enough in your opinion, fine. But if it is fair, the MB floats your boat, and the GLK350 price is likewise reasonable, why would you say that "he burned his bridges."

    The entire point of the negotiations is for you to get what you want at the transaction price you feel is fair, and for the dealer to feel he got what he needed $-wise.

    Would you have made the "new" deal if it had been offered two days earlier?

    PJ
    Yeah, but I get what dctex99 is saying, the dealer was trying to screw him out of $2K - he knew it was worth $11K (or more) before dctex99 walked out of the place, it is just a sales tacit - I can't tell you how many times I've looked at a car that they said "we have a contract on it" and when I get home, I get a call from the dealer "hey, that contract fell through, come on back, the car's yours". I wasn't born yesterday - I hate playing these kind of games and I won't let sales people manipulate me (or at least if I can help it).

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