Galves vs Kelley Blue Book

Can someone please explain to me why there is such a big difference in what
Galves says a car is worth and what Kelley Blue Book says it is. I went to a
Honda dealer today looking to trade in my 98 Audi A4 for a CRV and we
couldn't agree on a price for the trade in. I was using Kelley Blue Book to
find out what my car was worth but the salesman told me all dealers use
Galves!

 

I assume you looked at "trade-in" value at KBB. Looking at Galves' web
site (http://www.galves.com) it seems they target their services to
dealerships. Seems natural that they would quote low trade-in values to
cater to their target market.

That said, none of the price guides are binding on the dealers, they are
free to agree to any trade-in price they want.

 

LOL! Did you shop in NJ? NJ dealers use Galves. Galves = Low ball...

 

Yes, I did shop in NJ. Should I try PA?

 

John,

Dealers are going to give you as much as they can for your car. This may
sound a little odd, but the used car appraiser can make or break a lot of
new car deals and they need to sell cars.
BTW- Yes, I do work at a dealership as a salesman.
We work a fine line between making our customers happy about the trade
value while still trying not to pay too much.
The KBB's and NADA and Galves? are only guides.
As a salesperson, I want them to give all they can for the trade. It helps
me! ;-)

David

 

NADA is the best source of what is actually happening at new car
dealers, in terms of trade and retail pricing. The price is
other guides includes exchange prices within the industry,
including those between used car dealers and wholesalers. The
vehicles that end up in used car dealers lot, as opposed to the
lots of new cars dealers, are GENERALLY less desirable vehicles
that change hands at lower prices. The NADA guides are for
AVERAGE trades. One must realistically look at their vehicle to
determine if it is about or below 'average' for the model year.
Obviously the average three year old vehicle is going to be
better than a five year old, on average. Dealers add and subtract
for mileage above or below 15K per year average, as well. As one
poster said, with the market being as competitive as it is today,
a dealer will try to give you as much as he can to get the sale.
However if you have already negotiated the selling price to his
bottom line then asked for a trade price don't expect to be
offered the average trade price listed in the guide. At that
point there is not much left above wholesale to offer you for
your trade, even if it the kind of vehicle the dealer can just
wash and put in his front line. He still needs to warrant it for
the next buyer and allow for monthly 'in stock' deprecation. The
average new car trade sits on a dealers lot for three months.. A
dealer will give up the sale rather than invest too much in a
trade. He can always sell the new car, you were looking at, to
somebody else in three months. Unsold new cars do not depreciate
sitting on his lot, used cars do. The floor plan interest he
pays on new cars is about half of what he pays on the used cars
sitting on his lot.


mike hunt

 

Have you considered selling your old car privately? Or shopping the car
to other dealers (not necessarily the ones that you will buy a replacement
car from) if you don't want to sell it privately?

 

I think we shouldn't trade-in cars, you always loose money. Try to buy a car
you will keep for a long time then buy a new one and keep both. I know this
is not always possible but that is what I do now. When my civic hits 10
years (easy), I will just put it on the side and get a new one.
I'd say just keep your Audi for a few years more then buy a new CRV.

 

Robert is right.
All the experts say, drive til the wheels fall of. That's how to get the
most value.
I see a lot of folks who get 5 or longer year loans and want to trade after
1 or 2 years and with so many manufacturers offering rebates, the trader is
often way too negative to trade.
Good thing the Honda has the best resale value and never offers rebates.

 

Nice cut-n-paste Mikey.

Care to let us know where you got it, or are you content plagiarizing?

What am I thinking...of course you have no morals...

--
'03 S2000
'94 Accord

It's just about going fast...that's all...

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