BEWARE OF MSRP DEALS ON CAR TRADE-IN

If you hear car dealers advertising they will give you the “original manufacturer’s suggested retail price” for your trade-in, beware that the devil is in the details. The fine print on such deals may also deduct from the final appraisal of your trade-in such things as 25 cents for every mile driven as well as an undisclosed “reconditioning charge” for getting your trade-in ready for re-sale not counting other possible deductions for the amount of any rebates or other sales incentives you took from the dealer when you purchased the car.

Furthermore, the dealers could take even more deductions from what they offer you on your trade-in depending on your car’s condition and history. The bottom line is a MSRP advertised offer for your trade-in may not be what it seems when you heard or saw the advertisement.

SUPPLEMENTAL SOURCE: CONSUMER REPORTS MAGAZINE SEPTEMBER 2011