2010 Honda Insight Trade in values

[raef02]

I have a 2010 Honda Insight EX with 12,600 miles on it. I checked KBB trade in value for it and it's at $21,725 (excellent condition). We're looking for a bigger car so we figured since the Insight has very high trade in value in KBB we can trade it in. So we went to a dealership here in SoCal to see how much they will appraise my insight and they are only giving us $18000 for it. That's almost $4000 below what KBB says. Good condition is $1000 less. So what's going on here? Why do dealers appraise it so low?

[HybridNewGuy]

Originally Posted by raef02

So what's going on here? Why do dealers appraise it so low?

Buy low and sell high. That is the name of the game. You could try different dealers. What they give varies widely from place to place. A dealer of the same brand is (in my experience) more likely to give a higher value since to low ball it is to bash their own product. My 2 cents.

[Terry55]

Dealers make the most money selling used cars and service. These two far exceed the revenue generated by selling new cars. A dealer will offer substantially less than KBB trade in prices, so I don't know why KBB even bothers, unless it is to aid in the bargaining process. I recently traded in an '07 Fit because it had some seat damage that I didn't want to fool with. They offered me $8K, then two days later they had it on their lot for $12.5K. Always best to go to the hassle of selling it yourself rather than letting the wolves at the dealership have it. It just isn't worth the sales tax savings they'll tout.

[carniver]

Originally Posted by Terry55

They offered me $8K, then two days later they had it on their lot for $12.5K. Always best to go to the hassle of selling it yourself rather than letting the wolves at the dealership have it. It just isn't worth the sales tax savings they'll tout.

Time is money too, you may have to spend quite some time looking for a buyer; besides, buyers are willing to pay more for a dealer lot. In the end the dealer may not actually sell the car at $12.5K, they may get low-balled. As a private seller, people might low ball you even harder, and you may not get much more than 8k. Don't feel too bad about that apparent $4500 difference.

[cheesie]

i cheked on kelly blue book
my 45000k miles nice looking I2 is worth 18000 if i trade it in and 19000 if i sell it

but i think dealers are just gonna take it for 15000 if i trade it in so ill pass

[circa1986]

This is a complete joke. In this used car market, dealers have literally thrown the book out the window. I would not accept anything less than $1000 OVER the book trade-in value. It is truly a seller's market.

[Jayemtee]

The Insight I traded "even" for a CR-Z is now on the dealers lot with a price tag $1000 less than a CR-Z.

[cheesie]

you traded you I2????

[circa1986]

Try an Autotrader.com instant trade in.

[Pool Runner]

Originally Posted by circa1986

This is a complete joke. In this used car market, dealers have literally thrown the book out the window. I would not accept anything less than $1000 OVER the book trade-in value. It is truly a seller's market.

Good luck, I've had my I2 for sale for over a month now in Nor Cal, My 2010 is "mint" it only has 10K miles, it's fully loaded with every conceivable dealer & factory option and I can't even get $21K for it right now. I'm getting idiots offering $16-17K. The local Honda dealer did offer me $18K but I will make it a lawn ornament before I give it away at that price point.