Here at 112 Auto Sales, we want to help our customer out as much as we can to get them the best deal. And although we take trade-ins, I tell them that they’ll definitely get more money by selling it somewhere privately.
We can’t pay what another consumer is going to pay for obvious reasons. We've got to warranty the car, and it’s got to go through my shop to get it to meet New York state criteria. It's got to go through the whole process.
So we always advise the consumer that if they want to get the most money for their trade, try to sell it privately. If they don't want to do that, then we will appraise the vehicle and it value for trade-in and offer that price to the person--what I am willing to pay for it.
If it's not a vehicle we want or it's not worth it. If it's not worth it, I'll tell the customer that I can't take it in on trade or they will still owe too much money on it.
If a customer is upside down on the vehicle, which means owing more than it’s worth--like owing $10,000 on a car that's worth $5,000--there's no room for us to make up this $5,000 with the expense we have to put into it. I’ll be honest and let them know why I can't take their car on trade.
If we do make a deal and the car comes in on trade, I'll take it down to our repairs and service shop, and let them set a value. Our technician and manager will evaluate it; at that point we'll make a decision as to either keep it for resale, run it at the auction, or scrap it.
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