Posted 2011-01-03 6:31 PM (#128478) Subject: Trade in value
Veteran
Posts: 123 Location: Bridgeport,wv and Gaffney,sc
How do you know if you getting taken or not? I have seen models like my trailer and the dealers are offering half of what a basic model would be like 10k less than what i paid for it just 3 yrs ago. how do u know ?
Posted 2011-01-03 6:49 PM (#128484 - in reply to #128478) Subject: RE: Trade in value
Expert
Posts: 3802 Location: Rocky Mount N.C.
Originally written by WVbarrelracer06 on 2011-01-03 7:31 PM
How do you know if you getting taken or not? I have seen models like my trailer and the dealers are offering half of what a basic model would be like 10k less than what i paid for it just 3 yrs ago. how do u know ?
If you're trading with a trailer dealer, be prepared to take a big hit... They're in it to make money, off of you. Get ready, you're probably get mashed.
Posted 2011-01-03 7:05 PM (#128486 - in reply to #128478) Subject: RE: Trade in value
Expert
Posts: 2453 Location: Northern Utah
Look for comparible trailers to yours on websites like this. Do a search for your make and model and see what they are listed for. Pay attention to what private sellers are asking and what dealers are asking for those trailers. This will give you an idea of what the trailer will retail for.
Trade in are always going to be less than retail. Dealers have to take in account cleaning and preping the trailer for sales. They have to factor in flooring cost to carry that trailer as inventory until it's sold. And of course they add in the commission they will have to pay a saleman to sell it and their company profit.
Your job is to look at what trailers like yours are selling for across the country, research and decide if your area is weaker or stronger than the national avg. And come up with a price that you think you could reasonible sell the trailer for in your area. Then decide the difference between that price and what the dealer is offering is a fair difference. You will always get less on trade than if you sold it yourself. But only you can decide if that is a rip off or worth the conviences trading today and being done with the deal.
Realize that the ecconomy is weak, Trailer sales are down. trailer manufactures and dealers have been going out of business because it's a tough business out there right now. winter months are always a slow time to buy/sell a trailer. Not everybody wants to walk around in the snow to go look at a trailer. Much easier to go to the Western National Stock show next week and walk around inside a large warm building and look at new trailers. Dealers taking in a trade now, have to consider that they will pay interest on your trailer until maybe summer when it sales. So yes a dealer is going to offer less than you can sell it for.
Posted 2011-01-03 10:30 PM (#128501 - in reply to #128487) Subject: RE: Trade in value
Expert
Posts: 1351 Location: Decatur, Texas
Originally written by WVbarrelracer06 on 2011-01-03 7:19 PM
Im feeling the pain offer 7k for a trailer i paid 22k for it 3 yrs ago
A 1/3 of what you paid 3 years ago. FIND ANOTHER DEALER and fast! Just guessing if it was a 22-k trailer 3 years back it sounds like maybe a 3 or 4 horse with no lq package. I would research this site for ideas on like makes and models just to see what they are "asking" for them.
Posted 2011-01-04 7:53 AM (#128512 - in reply to #128478) Subject: RE: Trade in value
Elite Veteran
Posts: 690 Location: missouri
I pulled my last LQ around to several dealers before I bought my current LQ outright... They were so insulting, and my trailer was CLEAN and looked like a horse was never in it!!!SO... I parked it in front of our Vet's office for two days and sold it for full asking price. Don't get in too big a hurry to get into your next trailer or you may take a hit. Good Luck.
Posted 2011-01-04 8:26 AM (#128514 - in reply to #128478) Subject: RE: Trade in value
Elite Veteran
Posts: 720
Boy- beat up on dealers day on HTW.... But we sure want them to help us when we have a problem, and they do that for free. Wonder how they do all that free goodwill work for us customers and still feed their families?? Maybe that is why so many have chosen to go on to other ventures in the past couple of years. There are two things a dealer friend of mine has pointed out when I complain about prices- he says there used to be two prices- asking and taking. Now with the internet, there can also be a wishing price. And somewhere in between is what he sees trailers actually selling for in his part of the country- and those numbers the rest of us will never know. Seems there are folks who are asking much more than similar products are priced, because their trailer is "better" than all the other ones out there just like it. And "custom built" is not usually a good thing when resale is concerned he tells me Custom for you, means wierd for most everyone else. One other thing he laughs about are a lot of the For Sale By Owner (FSBO) ads he sees here and elsewhere. Trailers advertised as "all aluminum" when they are clearly FRP or steel framed models. Trailers listed as 7'6" tall that are obviously 7'. Or LQ measurements that are very much overstated for the model that is shown (call it a 10' when it is a 8', etc.). States it has a clear title when the copy of it shows it isn't. All things he'd be in a pickle for. Hopefully- a dealer will tell it straight because he knows his/her business. Unfortunately for us, there are too many models to have a decent blue book on trailers so we have to go on the gut feeling of the folks that do this every day. If you want to know what a trailer is really worth, ask for a bid from one of the dealers that is buying trailers from individuals right now. You might not like the number, but it is probably a realistic wholesale number that allows the dealer to fix it and sell it for a profit. Just my thoughts. Sure, I want it for the best price, but my dealer has helped many many times and I understand he can't do it for just the experience. He needs cash sometimes too! Shoot, he has horses, we know how much he needs cash! :)
I sold a trailer on HTW last spring, ran the ad for 6 weeks, people drove 600 miles one way (on a Sunday) to look at the trailer. We settled on a price, got the title from the bank the following week and I met them half way to make the delivery so they wouldn't have to make another 1200 mile round trip to pick up. In the mean time, park your trailer near a busy intersection with your Email and ph#..... Be sure you got good insurance, someone may take a liking to it and decide to take it off your hands without paying for it.
Posted 2011-01-04 9:19 AM (#128518 - in reply to #128478) Subject: RE: Trade in value
Regular
Posts: 56 Location: Shawnee, Oklahoma
We are dealers.....We are NOT a non-profit organization.....We have a much better feel for the trailer market than 95% of our customers, and we know what we can sell a trailer for when we offer a fair trade in price. The first thing we have to do is put the trade on our floor plan and start paying daily interest on it until it is sold...and if we can't make a profit on it...why should we trade for it? I can tell you from first hand experience that nearly 75% of our customers with trades expect to get retail for their trade...but at the same time, they are trying to beat us up on our price and get our trailer for a wholesale price....it can't work like that...it's retail to retail or wholesale to wholesale....so I tell all of our trade customers that they will get 20-25% more for their trailer if they sell it themselves, and let them make up their own mind if they want to trade....but they have to remember we make our living selling trailer and we have bills to pay and if we don't make a profit, we go away. We are very up front about the retail vs trade difference. I know buyers scour the ads looking for a good deal...but they fail to extend that courtesy to the dealer when talking about their own trailer...to be fair, there are dealers who try to low ball trade prices...but like the other poster said, go somewhere else and see what the offer is and compare. You all know what trades are on trucks and cars....you either pay a lot more up front for the new vehicle so they can show you a higher trade in price...or you find a good deal and take a hit on your trade....either way, if you are not prepared to sell your own vehicle or trailer, you have to figure the dealer trade difference takes care of depreciation and the price of owning and using it on your end and the interest cost plus clean up plus small repairs (always!), and profit on the dealer end...
Posted 2011-01-04 9:53 AM (#128519 - in reply to #128478) Subject: RE: Trade in value
Extreme Veteran
Posts: 399 Location: Ottawa, Illinois 61350
Very well explained Cindy . Everyone is different and everyone takes different care of their equipment. Some folks whom use their trailer a lot; but don't either take the time, or don't have the time to clean it and keep it well maintained aren't going to be as happy as the customer whose equipment still looks like new at 5-10 years old. Most all dealers will go deeper on a trade piece if it is standing tall than the same year and model of one that has been very used. Works the same as a car, truck or anything else. The big difference is, the "perception" of what people think of as "nice"- "clean" - "like new" - "standing tall", etc. A good clean used trade in piece is usually always in demand and will command a good retail price; BUT you would be surprised at the number of customers that bring trailers to the dealership that are dirty, haven't been cleaned out in a long time, or visually need a lot of work. Yet that customer is still expecting the same trade-in price as the person with the same year/model trailer whom has taken care of it and presents it as well as he can. Food for thought !!
Posted 2011-01-04 10:20 AM (#128521 - in reply to #128519) Subject: RE: Trade in value
Regular
Posts: 56 Location: Shawnee, Oklahoma
Originally written by jim bob on 2011-01-04 9:53 AM
Very well explained Cindy . Everyone is different and everyone takes different care of their equipment. Some folks whom use their trailer a lot; but don't either take the time, or don't have the time to clean it and keep it well maintained aren't going to be as happy as the customer whose equipment still looks like new at 5-10 years old. Most all dealers will go deeper on a trade piece if it is standing tall than the same year and model of one that has been very used. Works the same as a car, truck or anything else. The big difference is, the "perception" of what people think of as "nice"- "clean" - "like new" - "standing tall", etc. A good clean used trade in piece is usually always in demand and will command a good retail price; BUT you would be surprised at the number of customers that bring trailers to the dealership that are dirty, haven't been cleaned out in a long time, or visually need a lot of work. Yet that customer is still expecting the same trade-in price as the person with the same year/model trailer whom has taken care of it and presents it as well as he can. Food for thought !!
Thank you...You are right!...I'm sure you've talked to customers on the phone who have told you their trailer was in excellent shape and when you see it, you are at a loss for words...it's so dirty and in need of repair....these people feel like you are ripping them off because they have no concept of condition or price. BTW: I grew up in Rock Island....
Posted 2011-01-04 10:56 AM (#128523 - in reply to #128478) Subject: RE: Trade in value
Veteran
Posts: 123 Location: Bridgeport,wv and Gaffney,sc
Thank you i use the % of 25% off the first yr and 15% there after. I found a dealer thats going to give me closer to what i thought was more fair. i totally understood where the dealer is coming off. the market isnt like it was and the bank has to give to okay now instead of the dealers.the market isnt the greatest either thanks so much all
Posted 2011-01-04 11:27 AM (#128526 - in reply to #128478) Subject: RE: Trade in value
Member
Posts: 22
If your not in a big hurry to buy... Why not list it on this site and see what happens.. Even a month might make a big differance. A good deal for someone and more money in your pocket to shop..
Posted 2011-01-05 10:10 PM (#128612 - in reply to #128478) Subject: RE: Trade in value
Expert
Posts: 1881 Location: NY
if you which TV there is a show that talk about what they can sell an idol fore and what they can get it for so there has to be room for selling price for the dealer
Trade in value
but that is quite a hit