how much should I expect for my trade?

Im thinking of trading in my 04 X3 in a month or so for something newer, it has 81500 miles, auto, premium package, pano roof, new tires, tow package, everything works. I want to try and get as close to 9k as possible, think it is possible? KBB, edmunds and NADA put trade value anywhere between 8500 and 10000 with my options and mileage.
I will probably be trading for a CPO 09-10 X3 or X5

Dealers usually offer less than trade in value because they want to be assured they can make a profit when they sell the car. They want plenty of margin to make that happen.

stupid question time....what is the purpose or rather why dont NADA, Edmunds and KBB adjust their "trade" values to what you can actually expect to get? Guess I will have to look for a vehicle with lots of rebates to make up for how buried I will be with what I owe lol

For what it's worth, I think that a car with a value below $10k should fetch more and be relatively easy to sell privately on Craigslist, Autotrader, etc.

yeah I am well aware it would be pretty easy to sell outright, but I need to roll some negative equity over to my new vehicle (I know this is not ideal) I owe about 12.5k on it now, the 3k-4k difference (If I can manage to get 8.5-9k in trade) can be easily offset with rebates and a small down payment. I am looking at Jeep Grand Cherokees which are averaging about 3-5k off MSRP before even starting to bargain.

Because the guides are developed for banks and dealers to use to value cars, not so much for consumers.

If you want a fair price. Consider the craigslist approach. I've always had good luck with it. It just takes a little patience.

James

Sent from my LT18a using Bimmer App

Originally Posted by fivepointnine

stupid question time....what is the purpose or rather why dont NADA, Edmunds and KBB adjust their "trade" values to what you can actually expect to get? Guess I will have to look for a vehicle with lots of rebates to make up for how buried I will be with what I owe lol

Because they all dont care if the trade in is inaccurate. It is more important for their businesses to satisfy new car dealer. Their new car, TMV and retail prices are all held artificially high to make buyers think they are getting 'good deals'.

NADA, KBB, Edmunds all make money selling advertisitng to car manufacturers. None of them are paid by the buyer....

The BlackBook is a source of wholesale values. Find someone who has access to this database, and PM me please with a name.