Is this Dealer Ripping me off.? - Mustang Evolution

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Old 08-18-2009, 12:15 AM   #1
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Is this Dealer Ripping me off.?

okay so lately I have been shopping for a car. So i found a 2010 Mustang that i really liked. It was a basic mustang with auto transmission. retailed for 23,450. He gave me 20,900 with a rebate. I thought it was alright cus the invoice was 21,900. Then I told him i wanted to trade in my 2003 Escalade with 124,000 miles and my 2002 lancer with 89,000 miles. He only offered me 7,000 for the escalade which is fully loaded (nav,power/heated seats) kbb says its 11,900 and the entire night he was kinda being a ******. So I walked out. Any way should I look elsewhere or are all dealers gonna play me like this?
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Old 08-18-2009, 12:59 AM   #2
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Is this Dealer Ripping me off.?

thats a low offer on the Escallade. Although their values plummeted, they are starting to rebound. MMR (auction value) on a 2003 with your average miles is actually just a tick over $10,000. I would expect to get close to that on a trade in.
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Old 08-18-2009, 01:49 AM   #3
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Is this Dealer Ripping me off.?

Most people don't know that it is better to negotiate the trade in separately, first do the deal for the new car and then you can offer your trade in, or even better, sell it by yourself.

I know that a lot of dealers make more money from the trade in that from the new cars, they offer you 4k for a car and then they sell it for 7k or auction it for 5k. They win money anyway.
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Old 08-18-2009, 01:58 AM   #4
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Is this Dealer Ripping me off.?

You must remember that the dealer is going to give the wholesale price (or trade in value) for your vehicle - and there's a significant difference between that price and the retail value.
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Old 08-18-2009, 02:10 AM   #5
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Is this Dealer Ripping me off.?

Dealers will always try to rip you off. I recommend selling your most valuable trade in car through private party, then buying the car.
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