Do you have to give payoff amount to dealership when negotiating trade in before they give amount offered?
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Marissa G asked:
I have a 2004 Jeep Wrangler with only about 10K owed. I know I can sell it for at least 14K, probably 15K because it is in perfect condition and is a special edition model (only made in 2004). I want to trade it in for a new car, but I worry that the dealership may try to low ball me (even more than they typically would) if they know I only owe 10K. When negotiating for a trade in amount, is it wise to hold off on telling the dealership the amount I owe on the vehicle until after they have made their trade in offer? Is this tactic even accepted in the industry?
CORNELIUS
I have a 2004 Jeep Wrangler with only about 10K owed. I know I can sell it for at least 14K, probably 15K because it is in perfect condition and is a special edition model (only made in 2004). I want to trade it in for a new car, but I worry that the dealership may try to low ball me (even more than they typically would) if they know I only owe 10K. When negotiating for a trade in amount, is it wise to hold off on telling the dealership the amount I owe on the vehicle until after they have made their trade in offer? Is this tactic even accepted in the industry?
CORNELIUS
