Trade in value of 2005 S type Jaguar in GOOD condition
Recently I was offered 3K on my 2005 Jaguar with 90K miles. My insurance appraised it
(long story) @ more than 10K. KBB quoted trade in to a dealer @ about $5,500. I do not
have time to sell it privately. Nothing is wrong with it internally nor externally. My question
is: is there a formula car dealers use to arrive at a trade in value? How could the car
devalue 1K a month? ( I purchased it in March and just wanted to trade into another
Salespeople will always try that crap. I had a similar experience, they offered me $3000 trade in on my car with a Market Value of over $8,000 (at the time). They are testing you..your knowledge, car-buying experience/skills. They insulted you. Trade-In will never be close to Market Value, but I called him on it and walked out. he literally chased me from showroom waving papers, "Wait Mr. X, I talked to my manager..." I never looked back, and never bought another car. As for your Jag, KBB I have found is a good guide for Trade-in values. There may be a formula but what they do is look at you an low-ball by thousands, seeing if you bite.
Was the offer from a dealer? And the most important question is, What options are on the Jag? if it is loaded, with Nav, Leather, "R" 3.0L or the 4.2L motor.....in theory the fair market value is about 1500-2000$ more they the trade in value. What is a good strategy is to look at a very loaded low milage Jag first, then have them give you there trade in value, for your car, lock them in. And then pick out the car you really want. Hope this helps
Joanna_G.....Look at a XKR first, then let them give you there offer.....Reverse physiology.....gets them every time......
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