Is $500 a fair dealer trade in value for my 1999 Toyota Camry?

C

coffeedrinker0146

New member
I'm looking at buying a new 2010 Honda Accord or 2012 Ford Fusion to replace my 1999 Toyota Camry.

Both dealers told me all they could offer me was $500 in trade in. This sounds like a major rip off.

The interior of the car is in excellant condition and the heating, air conditioning and radio works.

The car is a 4 cylinder with 117,000 miles on it.

The car has the check engine light on. In my state the car will not pass smog with the check engine light on. This repair is called the charcoal canister which would cost $500 to replace and the check engine light would be off.

The back bumper of the car is a little scratched on the right.

Car sales people tell me that if I sell it on my own I will only get $1000 or maybe $800.

My independant mechanic seems to think I could get $2500 if I sell it on my own without fixing the charcoal canister.

The sales people at both new car dealers talk to me like I'm stupid and I'm wrong.
 
Your car should sell for at least 2000 and thats with the check engine light on. Try selling it your self on Craigslist.
 
Your car is certainly worth more than $500 in retail value and if you took some time and to sell it the price you get will be about wholesale minus repair cost. That is the $2500 value your independent mechanic is giving you, however, if you need to sell it fast and without the waiting, then the highest price is the price you will get. Honestly, I think a 99 Camry with minor nicks as yours can go for $2500 but you will need to fix the engine light on issue to get that.
 
Go to KBB.Com(Kelly Blue Book) or Edmunds.com and determine what your car is worth using their system. It wil give you trade in, wholesale and retail prices. Be honest in your appraisel of your car. Read the definitions of conditions before you determine its condition. Also look at NADA guides. You can usually find them at a library. Remember that NADA doesn't take into consideration your location while kbb does. Cars can be worth more in one location than another. The other responder is correct that they will pay you only what they pay for a similar car at auction. Even after you look at all of this info car dealers normally do not use either of these sources. They use what is called the "Black Book". This book is published WEEKLY and also by location. It gives the wholesale value for a car with + & - for contition, mileage and additional extras. Values in this book tend to be lower than any of the other sources that customers have access to. The dealer is looking at what he will have to spend on your car to buy it, make any repairs, clean it and advertise it. He has to consider what he can sell it for after he has done all of this and still make a profit after he pays the saleman's commission for selling it.
Good luck
 
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