Do Dealers Offer Exact Blue Book Value For a Trade-in?
Not at all. In fact dealers often use what they call a “black book” they will give you the lowest trade-in value for your car. A good rule of thumb is about 50% – 70% LESS than you Kelly Blue book value. Remember they have to pay to fix your car up to re-sell it, which will cost them money, then they wish to make a profit. So if you car is worth $6k, they’ll offer $2500, settle on $3000, spend $200 fixing it up and sell it for $5500, advertising that it is less than Kelly Blue Book value. Also when trading in a vehicle make sure you clean or detail the car first. They will tell you it doesn’t matter but many car appraisers will think if you don’t maintain the inside of your vehicle how well did you maintain it under the hood. Always negotiate, no matter what. Good luck.
