Is dealer taking advantage????? help

[Williamsone46]

Keep in mind that there is tax savings

Ok got off the phone with the dealer. Apparently (according to what he said) he has a guy very interested in my trade-in and wants me to see if I can bring it over this week. After telling him I will have to do some thinking and talking with the wife, he called back and offered me another 1,000 on trade. that brings trade-in up to $20,000. If you go my way, average retail is $25,410. If you go his way low retail it $20,410. Still leaning towards just selling it on my own and putting it towards a down payment. Since its a new boat, I'm not really trying to grab a deal that may be gone next week. I will be able to buy the same model at the same price for the next 6 months at least.

Trading it in for 20k is like selling it for 22k when you factor in the tax savings, depending on your tax rate. And than you factor in that you sell it on your own and the buyer talks you down off 25k down to 23-24k. It's all about, is it worth dealing with the added stress and head ache for the extra $1500 - $2000 to sell it on your own or would you rather trade it in and be done with it?

 

[Williamsone46]

Just remember, as a private seller you have to do the all the leg work. Maintaining listings online, sifting through the leads to find the true buyers, possibly assisting in arranging financing, etc. Not to mention, eventually having to let potential buyers into your home or storage area where they can see what else you have laying around, AND the possibility of taking them for a sea trial. All work that the dealers are paid to do in selling a used boat. Finally, when you trade, the deal is done. No tax credits floating around, no extra forms to fill out and send in, no possibility of the new owner calling with mechanical issues or questions. Someone else mentioned it above, you should send the dealer a counter offer. Whether you offer to remove some accessories and sell them privately, or leave them be and ask for more trade allowance. So far it sounds like you are working off his first pencil. We are taught to low ball, then come up slowly so you don't leave money on the table. Make them work for it, perhaps you can get closer to making the trade numbers work with the convenience of trading.

Couldn't have said it better.

 

[4x15mph]

All great points. You might be able to do a combined approach and let the dealer know that you expect you can fetch the $22,500 target price in 2 weeks by listing this on your jetboaters forum and that if it doesn't sell in 2 weeks, you could work with him to finalize a deal for their number minus some of the add-ons that would help you to stay whole. Having been on the buyer side, I would be just as likely to throw another $1500 at a boat that I wanted so I think you would probably get a phone call back in a day or two with the $22,500 offer or something closer. If not, you go back to the dealer in 2 weeks and complete the deal for the $20K.

 

[PaulyB]

I just bought a 2008 AR230 for 25000 from a private party back in November. If you want to sell some of your extras, let me know I may be interested in some of the things you have... Particularly the Wake Board Racks, Cobra Steering and maybe a mooring cover....

 

[Williamsone46]

First off no one knows what the price is on the new boat so it's impossible to say weather "the dealer is taking advantage" here. I thought someone here said "the trade price is irrelevant", the sale minus the trade is relevant. Until everyone here knows the entire deal, everyone's advise on the trade price is useless!

 

[Boat Crazy]

If you cannot get price wise what you think you want, try dealing in items. Boat cover and other items come to mind. When trading in my used boat years back, I got what I thought was a good trade and then also worked into the deal $2,000 worth of add ons. Bottom line is, YOU must be comfortable with the deal. If you think your being taken, it will bother you for years. You always have the option to say no. Good luck on whatever you decide.

 

[rkluck]

First off no one knows what the price is on the new boat so it's impossible to say weather "the dealer is taking advantage" here. I thought someone here said "the trade price is irrelevant", the sale minus the trade is relevant. Until everyone here knows the entire deal, everyone's advise on the trade price is useless!

Agreed and that was my point about the trade in price. The only number that counts is the final number. How the dealer works the numbers between the trade in, the new boat price or dealer discounts isn't as important as the bottom line number you have to pay.

 

[jet-r-done]

Well thank you everyone for your advice! Went today with my trade in, and just kept pushing him. Final agreed deal was 23k for my trade, and the boat show perk of the free extended warranty. Went ahead and agreed and signed the papers for a 2015 AR240. They are still waiting on their 2015 order to arrive and said is could be as soon as a few days or as late as 4 weeks. Not in a big hurry since it is still January. Thank you for your advice and opinions. Will post pictures and updates after we get the new addition.

 

[Boat Crazy]

Congratulations!

 

[txav8r]

Congrats on the new ride @jet-r-done !

 

[Murf'n'surf]

WOOT! Welcome to the club.

 

[tdonoughue]

Re-WOOT! Congratulations! Wonderful. I am olive-drab with envy.

 

[0627Devildog]

I may be re-iterating what others have said regarding private sale, and in no-way am I trying to scare you away from it but; Make sure you account for the cost of your time and effort and fuel to take people on sea trials.

When I sold my Fourwinns everyone interested in it wanted a sea trial, and it was sitting at my Yamaha dealer 40 mins away. So everytime someone wanted to sea trial I would have to leave work early to get there before the sun went down, make sure there was gas, put it in the water....yadda yadda. It was a HUGE PITA.

I ended up practically giving the boat away because I was so sick of dealing with trying to sell it. Some people even no-call no-showed completely wasting my time and truck gas.

Now... if the boat is near your house and possibly already in the water, it would be cake.

Additionally, I haven't seen any one mention the tax ramifications (unless I missed it). If you are trading up and sell private you have to pay taxes on that money instead of just paying taxes on the difference in price between trade in and new.

 

[rkluck]

Congratulations - What color did you choose? I bet you get her out on the water at the very first chance!!!

 

[jlcj7]

Congrats! i am hoping to do the same thing in a year or 2

 

[JC6275]

Congratulations!!!!! Happy for you!!!!!

 

[jet-r-done]

We went with the black. This will probably be the first time I have ever considered taking a boat ride in the middle of winter lol. We are excited and look forward to getting our hands on it. I'm not a hundred percent sure, but I think we are the first yamaha boat our new dealer has sold. Fredrick's outdoors seems like a good group of people and so far have treated us well. We are just glad to have a dealer local and not have to drive 4 hours away.

 

[Williamsone46]

Congrats you'll love it. They're awesome!