Trading In Your Old Car When Getting Your Elio

[Oldfarmer]

Elio may become one of the largest used car dealers in the country. Imagine all the $1500-5000 cars that people would love to trade and get a brand new car.
Of course, this hinges on whether or not they will take trades.

 

[Joshua Caldwell]

As I understand it they won't be doing trades themselves but contract another company to handle that , just like they contracted Pep Boy for service.

 

[Devilstower]

I just bought a used Volt this weekend (to replace the one I've leased the last three years). I got it from Carmax, and I could see Elio operating in the same way.

Carmax looks at your vehicle. If it's relatively new and in good shape, they clean it up and put it on their lot. If it's older or has some dents and dings, they send it off to auction. For a price, they look at the average auction price of similar vehicles over the last few months, and relay that price to the customer.

Actually, now that I think about it, Elio might benefit from adding someone like Carmax to their list of partners.

 

[Jeff Porter]

Hi Old Farmer, it's a good question! There are other thread(s) that have discussed this, I believe that I started one a few weeks ago. I agree with Joshua, if Elio accepts trade-ins, it will be through another company.

Based on my educated guess, I think Elio Motors WILL contract a company to take trades, but I wouldn't be surprised if EM decided to pass on that option.

My initial desire was to trade in my 2000 Cadillac Deville, but as reality begins to sink in, and I weighed the factors of an 800- mile drive to Shreveport vs. having the Elio delivered within 100 miles of my rural location, I most likely will just try to sell the vehicle myself and have the new Elio delivered to me.

Now if I can negotiate a good price for my (what will be by Elio delivery time) 195,000 mile vehicle, with the "trade-in" company in Looozeeana, I may decide to drive it there! lol

 

[Ekh]

I don't have any new information to offer here, but the complexities of taking in trades don't seem to square with Elio's mission or business model. So I'm guessing that they'll either subcontract with someone like Carmax, or simply say "we don't buy used cars."

 

[ElioDigger]

Take it to automax then go get your Elio

 

[Chaz]

I am going to keep my Tacoma just drive it less.

 

[zelio]

I don't have any new information to offer here, but the complexities of taking in trades don't seem to square with Elio's mission or business model. So I'm guessing that they'll either subcontract with someone like Carmax, or simply say "we don't buy used cars."

Elio Motors sent a survey out several months ago asking if the Elio were available this year, would people want to trade in. A no answer meant no more questions. A yes answer led to further investigation of the potential vehicles. They said they were trying get a feeling for what to expect when the Elio is close to production and that a decision about trade-ins would be announced later. :-) Z

 

[Mike W]

We are going to donate our truck to a non-profit (you know, where the non-profit picks up the truck, sells it, pockets the $$ and we get a tax write off). We thought about selling it (ew, messy) or trading it (you mean you want us to pay you for it?!) but settled on donating it. Way more bang for the buck, in several ways!

 

[pohutukawa]

My Elio is going to be a replacement for my 1994 Saturn SL2. It has 126524 miles on the odometer, and that is what it has had since 2006 when the odometer stopped working. I don't use it that much, but it probably has 150 to 160k on it. It runs smoothly, starts easily, gets 34mpg+ on the highway, doesn't use oil, rattles and is sort of noisy inside. It has a blue book value of almost nothing - maybe $500. I think it is worth more than that. I really do not know what I can do with it. I could donate it to one of the places that takes car donations, (CarsForKids, etc), but that would not gain me anything - the tax donation is an itemizable entry, and I haven't been able to itemize for years.

I don't even know if Carmax would want it. But I need to find something to do with it - maybe late next year. Any ideas, forum?