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Cars and Transportation
Reply to "What do I need to know when selling my car to a dealership?"
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[quote=Anonymous]You won't be liable for any repairs unless they discover that you did something illegal, like roll back the odometer. For a 16 year old car, the dealer is going to send it to an auction service and people (often small lots and private resellers) will bid on the car. You don't need to do anything about the car - the dealer will knock the price off your purchase and charge you for the remaining purchase amount. About the last point, the thing you should realize is that dealer profit is based on price of new car + profit from sale of your car + financing commission. So if the dealer offers you more for the trade-in but charges your more for the new car, you are not really getting a good trade-in value. Many people like to negotiate each aspect separately (sell your old car to carmax, get financing from bank, and negotiate a new car price) for better transparency[/quote]
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