Sold my old car to Vroom instead of trading it in

[generaltso]

I was planning to trade in my 2018 Mitsubishi Outlander PHEV for the MME. But I wanted to make sure my dealer wasn't going to low-ball me on the trade-in price, so I asked if I could bring it in a few weeks early to have them evaluate it. He said, no they would just look at it when the MME arrives. Huh? It will be too late for me to do anything about it then. I told him that I just want a ballpark so I know if I should try to sell it myself instead. He then said that there's a huge surplus of used cars on the market, so their offer would be very low and definitely far less than I would want for it. Again, huh?

So I brought it to a couple of local non-Ford dealers to see what they would pay for it. NADA trade-in value was about $20k. The Chrysler dealer offered me $19k and the Mitsubishi dealer offered me $20k. I had it listed on Craigslist for $21k, but didn't get any bites.

So then I tried Vroom. I entered the info about the car online, and it generated an instant offer of $21,388. I accepted the offer, and within a week, a car transport company was at my house loading it onto a trailer. That was the easiest vehicle transaction ever.

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[GoGoGadgetMachE]

I'm curious, did you try other online places as well (CarMax etc.)? Just wondering if Vroom was the best possible offer. Maybe it doesn't matter if you were happy with the offer and it was easy. ?‍

 

[CHeil402]

I was planning to trade in my 2018 Mitsubishi Outlander PHEV for the MME. But I wanted to make sure my dealer wasn't going to low-ball me on the trade-in price, so I asked if I could bring it in a few weeks early to have them evaluate it. He said, no they would just look at it when the MME arrives. Huh? It will be too late for me to do anything about it then. I told him that I just want a ballpark so I know if I should try to sell it myself instead. He then said that there's a huge surplus of used cars on the market, so their offer would be very low and definitely far less than I would want for it. Again, huh?

So I brought it to a couple of local non-Ford dealers to see what they would pay for it. NADA trade-in value was about $20k. The Chrysler dealer offered me $19k and the Mitsubishi dealer offered me $20k. I had it listed on Craigslist for $21k, but didn't get any bites.

So then I tried Vroom. I entered the info about the car online, and it generated an instant offer of $21,388. I accepted the offer, and within a week, a car transport company was at my house loading it onto a trailer. That was the easiest vehicle transaction ever.

At least in PA, the only downside to doing that is that you lose the sales tax benefit of trading it in (6% of the difference) which can make a lower dealer offer competitive to a private sale unfortunately. Although I do have a competing offer from another Ford dealership, so I anticipate using that as leverage when I finalize everything.

 

[generaltso]

I'm curious, did you try other online places as well (CarMax etc.)? Just wondering if Vroom was the best possible offer. Maybe it doesn't matter if you were happy with the offer and it was easy. ?‍

I tried CarMax and Carvana, but neither offer service in my area. Vroom was the only national outfit I could find that will pick up anywhere in the lower 48 states.

 

[GrumblesTheDog]

Hmmmm. I am a bad negotiator, and am expecting a low-ball on my trade-in as well. Granted, it's a bit older and has some wear and tear, but I was going to get some quotes from Carvana, Vroom, etc. But now I wonder, why even bother with the trade-in part if I get close to a decent price from the online services? As an added bonus, it would let me hang on to my car for backup a bit longer in case any of those 12V gremlins (or other bugs) pop up.

 

[generaltso]

At least in PA, the only downside to doing that is that you lose the sales tax benefit of trading it in (6% of the difference) which can make a lower dealer offer competitive to a private sale unfortunately. Although I do have a competing offer from another Ford dealership, so I anticipate using that as leverage when I finalize everything.

That's not an issue in Vermont because the "trade-in" tax benefit is the same if you sell your car to anyone within 90 days (before or after) buying a new car.

 

[CHeil402]

...within 90 days...

You have a lot of confidence, just kidding (I hope).

 

[generaltso]

Hmmmm. I am a bad negotiator, and am expecting a low-ball on my trade-in as well. Granted, it's a bit older and has some wear and tear, but I was going to get some quotes from Carvana, Vroom, etc. But now I wonder, why even bother with the trade-in part if I get close to a decent price from the online services? As an added bonus, it would let me hang on to my car for backup a bit longer in case any of those 12V gremlins (or other bugs) pop up.

It doesn't cost you anything to get offers from the online services. They may not always be great offers, but it doesn't hurt to check.

 

[GoGoGadgetMachE]

I tried CarMax and Carvana, but neither offer service in my area. Vroom was the only national outfit I could find that will pick up anywhere in the lower 48 states.

interesting.

 

[generaltso]

You have a lot of confidence, just kidding (I hope).

Believe me, that thought crossed my mind. But my MME is somewhere between KC and the east coast at this point, so another 3 months seems (hopefully) unlikely.

 

[Papa T]

At least in PA, the only downside to doing that is that you lose the sales tax benefit of trading it in (6% of the difference) which can make a lower dealer offer competitive to a private sale unfortunately. Although I do have a competing offer from another Ford dealership, so I anticipate using that as leverage when I finalize everything.

Same in Alabama, and I'm going to have to figure out the math on this. How much of a lower offer can I take from a dealer, and I still end up with a better overall deal, due to the tax savings. I was hoping to do that same thing that @generaltso was describing and get ahead of the game with my local dealer, but it sounds like that might be a whole other battle. I guess I can hope that my dealer might deal with me ahead of time a little bit better. We'll see. I'm getting close - my ETA is 3/16.

 

[Maquis]

For my fellow Republik of Illinois residents interested in this option, a maximum of $10,000 of your trade in value is non-taxable. That may change the equation a bit.

 

[Murse-In-Airy]

I used CarMax for my 2014 Ford Escape. Dealer offered me $3000. Carmax offered $6100 online instant cash offer. Made it worth the 150 mile drive to drop it off to them. And I was amazed they didn’t try to talk me down when I got there. Carmax in Rochester NY. I can’t recommend them enough.

 

[back_at_it_19]

I was planning to trade in my 2018 Mitsubishi Outlander PHEV for the MME. But I wanted to make sure my dealer wasn't going to low-ball me on the trade-in price, so I asked if I could bring it in a few weeks early to have them evaluate it. He said, no they would just look at it when the MME arrives. Huh? It will be too late for me to do anything about it then. I told him that I just want a ballpark so I know if I should try to sell it myself instead. He then said that there's a huge surplus of used cars on the market, so their offer would be very low and definitely far less than I would want for it. Again, huh?

So I brought it to a couple of local non-Ford dealers to see what they would pay for it. NADA trade-in value was about $20k. The Chrysler dealer offered me $19k and the Mitsubishi dealer offered me $20k. I had it listed on Craigslist for $21k, but didn't get any bites.

So then I tried Vroom. I entered the info about the car online, and it generated an instant offer of $21,388. I accepted the offer, and within a week, a car transport company was at my house loading it onto a trailer. That was the easiest vehicle transaction ever.

Good to hear re Vroom. Btw my dealer suggested months ago that they’d be happy to appraise a trade in anytime before the purchase.

 

[eltonlin]

Hmmm. Tried some other sites (Shift) and KBB values my current car at around $3-$5K.

Vroom says it's worth....

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