Trade In Process and Value?

[DaveA]

Let me know what you get for your 4runner!

I was going to trade in a 2021 4Runner SR5 4wd with Blackout Package, 4k miles...only said $41k. Locally from a company that could see the vehicle, $45k.

Sponsored

 

[stickyfingers]

I traded in a 2017 Honda Ridgeline with ~69K miles on it, in very good condition. Rivian offered pretty much exactly the same as Carmax, and right about what KBB projected as well. I'm sure I could've gotten somewhat more in a private sale, but it wasn't worth the trouble to me. Rivian showed up with my R1T and drove off in my Ridgeline; no trouble at all.

Great to hear. I have a 2020 Ridgeline and hoping that they match the book value. I'm in Canada so we will see when my turn comes up.

 

[Wefty]

I found this site helpful when I was looking to see if trade-in value decreases the tax on a new vehicle.

sales tax handbook - Illinois

BTW is does in Illinois

 

[sevengroove]

Hey I wanted to get a consolidated thread of how everyone's trade in process went.

What was the timing like pre delivery?

How was the value vs kbb?

With used prices right now I'm sure I can get a lot more on the market for my 4runner than trade in, but i'm not sure I'll be able to juggle the timing of that with payment/financing.

Thanks!

Thank you for starting this thread. Might I also add, if there are folks who traded in a leased vehicle it would be great to hear your experience as well. I can't imagine there are more than a handful who did that given how quickly folks went from zero guide contact to R1T in driveway. Hoping that by the time my delivery window rolls around I have a couple of weeks minimum between guide contact and delivery to sort out a buyout and trade-in of my leased vehicle.

 

[Akay07]

I dont know where to ask this so I will ask here and looking for some help. I currently have a mustang mach e premium and I really can't find any kbb values for my car. I found used MachE's listed on autotrader.com for 57-59 ish. I dont know if that is a realistic expectation or just dealer mark ups. I don't really know where to set my expectation on being a good target value. I dont know if I will need to sell privately or trade in. Luckily, my window is may to June but I am just trying to have everything buttoned up prior because it sounds like things happen pretty quickly once you are contacted. Any insight or advice would be appreciated.

 

[NmbrsNvrLie]

I had a Mach E First Edition (AWD) which I traded into my dealer for $51k when I upgraded to a Mach-E GT. They sold it same day for $59k and this was about 6 months ago. My personal perspective and experience, $50k+ cars are really hard to private party sale and the dealer spread is always more than $2-3k.

Will be trading in the GT for my Rivian R1T. Current Vroom offer on my Mach-E GT is like $61k, but think that is too low. Carvana and KBB don't have the dataset to provide an automated quote yet though. I intend to really just wait and see what Rivian will offer (since I'm in Texas, I also get a sales tax benefit which is like gettin an extra 6.25%). Worst case, I'll get quotes from Carvana / Vroom / Carmax / local Ford dealer and take the highest. All of them offer hassle free trades even when you don't buy from them. Their prices are only good for like a week though, so unless you intend to dispose of it now and be temporarily carless, you probably just want to wait.

 

[Akay07]

I had a Mach E First Edition (AWD) which I traded into my dealer for $51k when I upgraded to a Mach-E GT. They sold it same day for $59k and this was about 6 months ago. My personal perspective and experience, $50k+ cars are really hard to private party sale and the dealer spread is always more than $2-3k.

Will be trading in the GT for my Rivian R1T. Current Vroom offer on my Mach-E GT is like $61k, but think that is too low. Carvana and KBB don't have the dataset to provide an automated quote yet though. I intend to really just wait and see what Rivian will offer (since I'm in Texas, I also get a sales tax benefit which is like gettin an extra 6.25%). Worst case, I'll get quotes from Carvana / Vroom / Carmax / local Ford dealer and take the highest. All of them offer hassle free trades even when you don't buy from them. Their prices are only good for like a week though, so unless you intend to dispose of it now and be temporarily carless, you probably just want to wait.

Thanks. I forgot about zoom. It quoted 50k. Its atleast a starting point. I had forgotten about taking it to the dealer to sell.

 

[Bee]

Might I also add, if there are folks who traded in a leased vehicle it would be great to hear your experience as well.

This actually has to do with the financing company of the car your leasing and nothing to do with Rivian. All anyone cares about is the value of the car, the rest comes down to the buyout price on your original lease deal and whether or not they even allow someone else to buy the car out. They might be super happy to buy someone's Mach-E but if Ford has written into their contract that only you can buy it, then it doesn't matter what Rivian wants to do.

If you're planning to trade in a leased car, it's best to find out how your lease termination works now instead of finding out an annoying surprise come purchase time.

 

[sevengroove]

This actually has to do with the financing company of the car your leasing and nothing to do with Rivian. All anyone cares about is the value of the car, the rest comes down to the buyout price on your original lease deal and whether or not they even allow someone else to buy the car out. They might be super happy to buy someone's Mach-E but if Ford has written into their contract that only you can buy it, then it doesn't matter what Rivian wants to do.

If you're planning to trade in a leased car, it's best to find out how your lease termination works now instead of finding out an annoying surprise come purchase time.

I get that - I have a Lexus and they do allow third party buyouts. What I don’t fully understand is how the buyout process fits in to the Rivian trade-in and purchase process. At some point I will have to loop in each party to the others’ process, and it’s just unclear to me when to do what. Like I will probably get a buyout statement from Lexus, sign some forms authorizing Rivian/Cox to buy my vehicle - then what? Does Rivian handle the process from there? Do they have to “authorize” and execute the buyout for me to proceed with the purchase agreement? Do they wait until delivery day to send Lexus a check? I’ve asked Rivian about this and all they can tell me is that “your (as of yet unassigned) guide will answer those questions for you” ??‍.

So in what is fast becoming tradition, I’m left counting on the experiences of my fellow enthusiasts to understand the process better. I will still try and track down some details from Lexus as well, but that will be just one piece of the puzzle.

 

[kanundrum]

Wondering if I can trade in my Hyundai Lease that ends in Nov. Buy out amount is like 18k but value is about 22k.

 

[Bee]

I get that - I have a Lexus and they do allow third party buyouts. What I don’t fully understand is how the buyout process fits in to the Rivian trade-in and purchase process. At some point I will have to loop in each party to the others’ process, and it’s just unclear to me when to do what. Like I will probably get a buyout statement from Lexus, sign some forms authorizing Rivian/Cox to buy my vehicle - then what? Does Rivian handle the process from there? Do they have to “authorize” and execute the buyout for me to proceed with the purchase agreement? Do they wait until delivery day to send Lexus a check? I’ve asked Rivian about this and all they can tell me is that “your (as of yet unassigned) guide will answer those questions for you” ??‍.

So in what is fast becoming tradition, I’m left counting on the experiences of my fellow enthusiasts to understand the process better. I will still try and track down some details from Lexus as well, but that will be just one piece of the puzzle.

Just call up Lexus and ask them if you're allowed to trade the car in. If they say you're the only person who can buy the car out then you know you'll have to buy it yourself before you're able to trade it in.

It's robbing Peter to pay Paul, they're not giving you any more or less for the car so you're going to have to settle the balance of negative equity anyways if there is any. It just makes it harder to finance and move around if you don't have the cash.

Wondering if I can trade in my Hyundai Lease that ends in Nov. Buy out amount is like 18k but value is about 22k.

Check into your rules on this, some of them get real bitchy at lease end and restrict whom can buy the car. I think Hyundai is rather permissive, they were going to let me trade it in for another Hyundai, but I can't confirm they'll let it go elsewhere.

 

[omamatt]

I dont know where to ask this so I will ask here and looking for some help. I currently have a mustang mach e premium and I really can't find any kbb values for my car. I found used MachE's listed on autotrader.com for 57-59 ish. I dont know if that is a realistic expectation or just dealer mark ups. I don't really know where to set my expectation on being a good target value. I dont know if I will need to sell privately or trade in. Luckily, my window is may to June but I am just trying to have everything buttoned up prior because it sounds like things happen pretty quickly once you are contacted. Any insight or advice would be appreciated.

I’m in the same boat. I purchased my MME Premium Ext back in July as a place holder for me. Not a ton of data out there on trade, however, have received pretty solid bids a few months ago when I was checking. Carvana, Vroom, Carmax. Haven’t taken time to check local dealers. If within a few k of Rivian/Cox when it happens, the tax savings and simplicity will be enough to just trade it in vs hassle of the others.

 

[RivianDeac]

Need some advice. Might be more of an opinion case.

The wife totally trashed this rim on a curb at Panera. This 2021 XC40 recharge will be traded in for my inbound R1T. My noob attempts at repair are as depicted.

The rest of the vehicle is essentially mint. The damage drops the vehicle to the next lower condition threshold.

Should I replace the rim prior to valuation by Rivian? It is $600. It seems the trade-in process is a “one-and done” situation. I dont want to be caught flat footed.

THANKS

E

 

[godfodder0901]

Need some advice. Might be more of an opinion case.

The wife totally trashed this rim on a curb at Panera. This 2021 XC40 recharge will be traded in for my inbound R1T. My noob attempts at repair are as depicted.

The rest of the vehicle is essentially mint. The damage essentially drops the vehicle to the next lower condition.

Should I replace the rim prior to valuation by Rivian? It is $600. It seems the trade-in process is a “one-and done” situation. I dont want to be caught flat footed.

THANKS

E

Leave it at the higher valuation but take off the price of the wheel in your head. They should all be able to deal with that during manual valuation.

Sponsored