Trading In Your Old Car When Getting Your Elio

wjdom · Aug 19, 2014

Steve McKenney said:
I was reading through the new blog that was posted today they linked to several articles about the Elio. I got to reading one at at gadgetreview.com and noticed this in one of the paragraphs:

I am assuming that "the company" it is insinuating that the company is Elio. I interpret that to mean that they will accept trade-ins.

I DON'T THINK THERE WILL BE "TRADE IN'S" Best sell it out right soon, after the Elio hits the market not many people will want a used car, unless they need to haul more than two people.

wizard of ahs · Aug 19, 2014

Trade-ins would only increase overhead.....I don't see Elio accepting trade-ins........besides, they'll never get my smart anyway...she's a keeper

outsydthebox · Aug 19, 2014

wizard of ahs said:
Trade-ins would only increase overhead.....I don't see Elio accepting trade-ins........besides, they'll never get my smart anyway...she's a keeper

I certainly don't see it happening in the first production year, with NO store locations. There MAY be used car "buyers" hovering at the Shreveport factory, looking for those who drive down to pick up their Elios.

ncarter124 · Aug 20, 2014

They won't do trade-ins right away. Take it to Carmax, they are surprisingly fair with their pricing.

seeker · Aug 20, 2014

The Elio only seats 2, that alone tells me I won't be trading in nor selling my '13 Accent. If I were getting rid of it I usually just pass my old cars off to my kids when I get tired of them since you don't really get much when you trade and I hate dealing with private sales.

RUCRAYZE · Aug 23, 2014

Steve McKenney said:
I was reading through the new blog that was posted today they linked to several articles about the Elio. I got to reading one at at gadgetreview.com and noticed this in one of the paragraphs:

I am assuming that "the company" it is insinuating that the company is Elio. I interpret that to mean that they will accept trade-ins.

english a second language?? it doesn't state They will take trade ins, why keep beating this= throw it on Craigs- something is only worth what some else is willing to pay for it. why on earth would elio want your trade, no matter the condition, make or year. So much paperwork, so many (different) state regs, storage, auctions, liabilities etc. they want a clean program- they won't even have their own service for their own cars- (maybe the boys at pep will get the overflow and focus on what they do best- carmax does it best if you want not to be bothered- pull in they give you a price, write ya a check and off you go

outsydthebox · Aug 23, 2014

dielk said:
english a second language?? it doesn't state They will take trade ins, why keep beating this= throw it on Craigs- something is only worth what some else is willing to pay for it. why on earth would elio want your trade, no matter the condition, make or year. So much paperwork, so many (different) state regs, storage, auctions, liabilities etc. they want a clean program- they won't even have their own service for their own cars- (maybe the boys at pep will get the overflow and focus on what they do best- carmax does it best if you want not to be bothered- pull in they give you a price, write ya a check and off you go

IIRC, some time in the past 6 mo's, it was said that EM wouldn't take trade in's but would "buy" your car and you put the money in your pocket. Not necessarily "have to" apply it to the purchase.

That being said, buying or selling on "craigs" isn't what it used to be. I still do it occasionally but, now hesitate to invite a "potential buyer" to my home. Or, driving to meet a seller, at an unknown location, with a pocket full of "cash"...let's just say, I had a close call. So,I can understand why (especially older ones) would use the "convenience" of trading it in.
I agree that EM probably won't have room to store these trades. I also know a new car dealer that has "arrangements" with "wholesalers"(CarMax might even "be" one that EM will use). These guys are "on call." When the dealer takes a trade, the wholesalers come with the rollback and pick up the cars. Off of the dealership lot within hours! EM could easily do something similar.

RUCRAYZE · Aug 23, 2014

outsydthebox said:
IIRC, some time in the past 6 mo's, it was said that EM wouldn't take trade in's but would "buy" your car and you put the money in your pocket. Not necessarily "have to" apply it to the purchase.

That being said, buying or selling on "craigs" isn't what it used to be. I still do it occasionally but, now hesitate to invite a "potential buyer" to my home. Or, driving to meet a seller, at an unknown location, with a pocket full of "cash"...let's just say, I had a close call. So,I can understand why (especially older ones) would use the "convenience" of trading it in.
I agree that EM probably won't have room to store these trades. I also know a new car dealer that has "arrangements" with "wholesalers"(CarMax might even "be" one that EM will use). These guys are "on call." When the dealer takes a trade, the wholesalers come with the rollback and pick up the cars. Off of the dealership lot within hours! EM could easily do something similar.

so right about meeting a seller i.e. craigs, but the number of hits you get will givwe an idea of the value, blue book even warns how few cars are in the highest stage, cause we as sellers think much higher. i know when i go to the dealer to trade i'll get hammered, and i trade just to eliminate the hassle of selling it myself.
not so fast, elio has to give the auctioner a clean title, they don't want to have to pull up in a few hours and take away a car who's value hasn't been determined, paid off and cleared the title i.e. elio will need a staff to evaluate the machine to offer the seller a fair price,, the title to be clean,(note pay-off) need insurance to protect their investments/liability/payroll/taxes/liens/ office space, and, as many dealers do - a separate building or wing to handle this type of traffic.
Just set-up a clean process off site (carmax) "eliomax" whatever to allow the clean sale of a very special new car. they are not a car dealer.
btw does anyone know if Tesla takes trades? i'd stand very corrected and humbled if they do.

outsydthebox · Aug 23, 2014

dielk said:
so right about meeting a seller i.e. craigs, but the number of hits you get will givwe an idea of the value, blue book even warns how few cars are in the highest stage, cause we as sellers think much higher. i know when i go to the dealer to trade i'll get hammered, and i trade just to eliminate the hassle of selling it myself.
not so fast, elio has to give the auctioner a clean title, they don't want to have to pull up in a few hours and take away a car who's value hasn't been determined, paid off and cleared the title i.e. elio will need a staff to evaluate the machine to offer the seller a fair price,, the title to be clean,(note pay-off) need insurance to protect their investments/liability/payroll/taxes/liens/ office space, and, as many dealers do - a separate building or wing to handle this type of traffic.
Just set-up a clean process off site (carmax) "eliomax" whatever to allow the clean sale of a very special new car. they are not a car dealer.
btw does anyone know if Tesla takes trades? i'd stand very corrected and humbled if they do.

What I mentioned is only one way an already established dealer does it. There are many "variations" that could work while minimizing EM's involvement. One is to simply have a wholesaler ( a licensed car dealer) on premises during business hours. No "auctioneer" is involved. Any dealer worth his salt can do a test drive and an estimate in about 10 minutes( no "cost" to EM). A "Carfax" (title search and vehicle history) only takes a few minutes more (also no "cost" to EM). Then EM has no real involvement. That doesn't mean an Elio customer has to take the price offered, or that EM has to profit from the transaction. It could simply be done as a "convenience" for the customer.
I have been around the automotive "wholesale/retail" biz for over 20 years. I don't claim to know "all of the ins and outs" but, I have confidence that EM can make it happen in an efficient manner. But, only time will tell.

RUCRAYZE · Aug 23, 2014

outsydthebox said:
What I mentioned is only one way an already established dealer does it. There are many "variations" that could work while minimizing EM's involvement. One is to simply have a wholesaler ( a licensed car dealer) on premises during business hours. No "auctioneer" is involved. Any dealer worth his salt can do a test drive and an estimate in about 10 minutes( no "cost" to EM). A "Carfax" (title search and vehicle history) only takes a few minutes more (also no "cost" to EM). Then EM has no real involvement. That doesn't mean an Elio customer has to take the price offered, or that EM has to profit from the transaction. It could simply be done as a "convenience" for the customer.
I have been around the automotive "wholesale/retail" biz for over 20 years. I don't claim to know "all of the ins and outs" but, I have confidence that EM can make it happen in an efficient manner. But, only time will tell.

I haven't been around the business at all and do appreciate your insights. was only thinking of the polished, hi-tech stores to shop
thanks

Trading In Your Old Car When Getting Your Elio

wjdom

Elio Addict

wizard of ahs

Elio Addict

outsydthebox

Elio Addict

ncarter124

Elio Addict

seeker

Elio Fan

RUCRAYZE

Elio Addict

outsydthebox

Elio Addict

RUCRAYZE

Elio Addict

outsydthebox

Elio Addict

RUCRAYZE

Elio Addict

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