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Discussion Starter #1
Hey all, the current lock down has gotten me looking into the next upgrade on my spare time. I'm thinking of pulling the trigger within April. I'm looking for a trade-in with a 2013 Solar 2+0 at 85k mileage. I browsed Cargurus and Autotrade and I've been seeing 44k mileage priced at ~$45k. I've also found 2 listing for ~9k mileage $39k. The pricing has such a large spread that it's hard to guage how much i really should expect to get for the trade in. Has any one have any suggestion? I'm thinking $35-37k but I'm wondering if that's too much hopes?
 

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I would try to sale it first since listing it doesn't cost. You will get offers and can gauge how much you can get for your car. Trade in will be my 2nd option.
 

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My thought is if you have a high sales tax state you can save with trade in and not be bothered with all the people
who will be asking nuisance questions ..And with that mileage you will be getting low balled..
And you said it 9k mileage for $39k..
But only you can make the price up and see how it goes and if you have to lower price ??
And right now with market so low people will be nervous spending money for toys.
Good Luck
 

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Less is Better
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Trade in is not the same as market price. If you've never tried to trade in a car before, prepare to be extremely underwhelmed. You should expect a disappointingly low offer, like $25-30k.
 

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...it's hard to guage how much i really should expect to get for the trade in...
To echo and expand on what some others have said... not trying to be patronizing but there really is no such thing as "expect to get" when it comes to trading. You'd have far better luck selling private party or, if you don't want to deal with people, consign it and wait for the right buyer to come along, and ask what you want for it.

Trading in is more of a "courtesy" that dealers do in order to earn your business, and is influenced by all kinds of things, chief among them a) how much profit they're making on what they're selling you in return and b) how much risk they can/will take on forking out the cash necessary to buy you out (that money has to come/go somewhere) for something that may sit indefinitely on their lot. It varies by dealer, market, location, time or year.

And right now, in the middle of a pandemic or even later this year when the whole world is going to be trying to dig themselves out of possibly-severe financial straights? Since many dealers will simply bid out wholesale and give you whatever they get offered that day, as other poster says... "get ready to be underwhelmed."

In fact, right now, I would honestly not be surprised if you were flat out told "no" by some/many/all dealers for a high mileage, low volume, almost-niche market car with notoriously hard to source parts (besides the common ones in the engine bay) like an Evora unless they were making a killing off their sale to you.

I know this is long and I'm not trying to be too negative, but... Case in point on trade-in vs selling vs consigning: Even in good times, when I sold my '14 Evora S with 11K, out of curiosity I shopped "trades" within about 250 miles. $35K was best offer I could get. I put it on consignment; it sold 3-4 weeks later and I took home $51K.
 

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Discussion Starter #6
I've done trade-ins before so i know what to expect of it, but never on such a niche car with such a weird spread and in such strange time. You guys are absolutely right regarding the current state of the economy now making it difficult for dealers to want to trade in such a high mileage and quite niche vehicle. I am getting a 32.5k offer for it, and I think 30-35k might be more likely of what I'd get. Listing on craigslist got me some lowball 30k offers. At this point, I might be ok accepting at 32. It's hard to see this getting that much higher even in consignment when there are 11k miles at $39k. And of course, no advise is taken as ill advise. Really appreciate all your thoughts.
 

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I did not want to insult you on price when I posted but you saw writing on wall on what you said in your writing..39k for car with 9k mileage.
Every car has a time with mileage and cost and seems like you have enjoyed your car and put mileage on it so that has value ..
I know I bought last yr a 2011 and after receiving car I feel I over paid on it being a decent car but not what owner said it was.
So we all have what we see in the cars value but does not mean everyone see it for that value..
Good Luck in your decision and your next purchase.
 

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I'd take the 32.5 and run if you really want to trade it/get rid of it fast. That mileage is really hurting it. I was offered $27,000 for my Evora S with 14000 miles last year at a Lotus dealership.....needless to say I still have it.

You could also stick it on BringaTrailer with a reserve of 32.5 (if they let you considering the mileage) and you may be lucky and get a bit more.
 

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I'd take the 32.5 and run if you really want to trade it/get rid of it fast. That mileage is really hurting it. I was offered $27,000 for my Evora S with 14000 miles last year at a Lotus dealership.....needless to say I still have it.

You could also stick it on BringaTrailer with a reserve of 32.5 (if they let you considering the mileage) and you may be lucky and get a bit more.
BAT sets the reserve, seller has no say. They also reserve the right to buy at reserve if the car does not meet reserve. BAT usually sets reserve around trade-in/wholesale value. High mileage Lotus really get beat down by the wankers comments. YMMV.
 

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Hey all, the current lock down has gotten me looking into the next upgrade on my spare time. I'm thinking of pulling the trigger within April. I'm looking for a trade-in with a 2013 Solar 2+0 at 85k mileage. I browsed Cargurus and Autotrade and I've been seeing 44k mileage priced at ~$45k. I've also found 2 listing for ~9k mileage $39k. The pricing has such a large spread that it's hard to guage how much i really should expect to get for the trade in. Has any one have any suggestion? I'm thinking $35-37k but I'm wondering if that's too much hopes?
I traded in my 2012 IPS @ 41K miles last June at $38K. The dealer took the car, advertised it, and sold it in a week or so, then mailed the check. He guaranteed $36.5K, said the Carfax value was $36K. The car was in excellent condition.
 

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Less is Better
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I traded in my 2012 IPS @ 41K miles last June at $38K. The dealer took the car, advertised it, and sold it in a week or so, then mailed the check. He guaranteed $36.5K, said the Carfax value was $36K. The car was in excellent condition.
They sent you a check after selling the car? That sounds like consignment, as opposed to trade-in.
 

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BAT sets the reserve, seller has no say. They also reserve the right to buy at reserve if the car does not meet reserve. BAT usually sets reserve around trade-in/wholesale value. High mileage Lotus really get beat down by the wankers comments. YMMV.
It depends a little on the car and what the seller wants but I was able to negotiate the reserve on my Elise.

If the sellers reserve is too high then they won’t budge but they don’t have to list it.
 

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It depends a little on the car and what the seller wants but I was able to negotiate the reserve on my Elise.

If the sellers reserve is too high then they won’t budge but they don’t have to list it.
I'm really glad to hear you were able to negotiate your reserve. I have friends who refused to list with BAT's specified reserve and one who did list in spite of what he thought was a too low reserve. He was extremely unhappy with the outcome. It's cave venditor (seller beware). BAT and the buyer have little skin in the game. There is no arrangement for funds/vehicle escrow either. Funds must be wire transferred.

I don't dislike BAT and the principals of the company. I know some of them personally. I'm just disappointed in the business model.
 

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Normally Spring is a good time to sell, but obviously this isn't a normal time, despite the season and everything else. If you can hold onto it I would.

I was going to sell one of my motorcycles as I have a pricey one coming in June (probably delayed now), but I'll probably just hold out now.

It seems there is an influx of new users here looking to buy, but not offering much. It's a buyer's market now and it probably will be for at least 3 months, and more likely longer.

San
 

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For Evoras it's always been something of a buyer's market . That won't end until the car is no longer in production. This year is different in that it is going to be brutal for all car sales, not just Lotus.

This isn't a prediction per se, but we might even speculate that the air could be out of the entire collector and specialty care market for a very long time. We all know this is the sort of event that changes the course of history and the way we will look at the world for the foreseeable future.

New priorities will evolve.
 

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Discussion Starter #16
I did not want to insult you on price when I posted...
I did not take your advise as insult :) thank you for your honest input.

When i set out to buy the evora back in 2013, i knew i was going to put a lot of miles on it, as is with any car i've purchased up to now and in the future, so I've definitely gotten a lot of value out of it. I'm just looking to see what realistic numbers i can get out of my current mileage so that i can negotiate the trade in without taken too deep for a ride.

We have the cash to outright buy the next car without trade in. I just don't want the trouble of keeping 2 sports cars in the garage and make the wife leave her car outside. But I think we may just either do that or put it in consignment, and just take our time selling the evora. Does anyone know how much paper work is involved in a private sale in California? How does the tax work? I know buyer typically pays for tax, is that included in the agreed pricing, or does the seller deal with it on their own when they go in for registration?
 

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The buyer will pay tax on the sale and it is not a concern for a private seller. Sales between individuals are no more complicated than they are anywhere else. You take the money, sign over the documents, report the sale and say "Goodnight Gracie."
 

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Sell low, buy low. If you drop an extra 10K off your trade at present but at the same time save an extra 20K ...you figure it out....
 

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Does anyone know how much paper work is involved in a private sale in California? How does the tax work? I know buyer typically pays for tax, is that included in the agreed pricing, or does the seller deal with it on their own when they go in for registration?
Just requires filling out the front and back of the title with odometer reading and new/old owner info. Use tax is collected by DMV at time of registration by new owner, based on the stated sale price. You can do your new owner a "favor" by putting down the sale price as significantly less than received, but that's entirely up to you and the new owner, and whether (or not) you believe CA deserves to double-dip on the taxes (sales tax was charged at original sale; use tax is collected again on that same vehicle every time it changes hands, unless to a family member).

You'll also want to submit a Notice of Transfer and Release of Liability form online or via the REG 138 form. There's also a transfer checklist (DMV considers a sale as a transfer).
 

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Many states tax you on "book value". That prevents the $1 sale and pocket the cash crowd
 
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