Originally Posted by Philpug
I knwo wholesalers who aren't even buying metal like that. And to a wholesaler, no emotion attached, its just metal.
good point. It is ultimately worth what someone will pay for it.
The wholesaler needs to make a living as does the used car guy. If the public wants to pay no more than say XXX for that particular vehicle, that sets the value the trade is worth to that particular dealer.
When gas got over 3 bucks I went to the Saturn dealer and found a nice used SL 2 at just about what I wanted to spend. After I got the price settled, I brought my Ranger in for a trade assessment (at the time I owed about 5K on it and it was valued for trade in by Edmunds at about the same)
The Saturn guy---to his credit---said right up front, "I Have NO MARKET for a pick up, my customers are looking for good MPG smaller cars. I'll probably have to send it to auction---so be prepared."
He offered, and I declined a trade value of around 2K as I remember. That was my choice. I thought the sales guy was very clear with me and his offer was not unexpected.
I, eventually, did trade it on another Saturn a year or so later and came out of that with just a small ding in my hide. Too me it was worth the $800 negative equity hit I took (willingly) to go from P/U to sedan and 18 at best to 31 MPG since I drive about 50 miles RT to work.
OK, you can all get back to bashing car guys and marker binding