Service records and trade in values

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Murdock188

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I know keeping service records is generally a good practice but wondering how it will effect trade in value at the dealership when the time comes. Basically how much more will I be able to squeeze out of them if I have them vs not.

I know I would probably be willing to pay a little more for a truck with a complete service record available to me. Anyone have any real world examples where you got more for your trade because you kept meticulous records of all work preformed?
 

danoday

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Probably only in a personal sale. I have never been asked for records at dealership during trade in. I help my daughter by a used MB ML 350, 155k miles, previous owner had the vehicle serviced at the same dealership for 11 years with 57 pages of service records since new, so that definetly helps a buying decision.

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NOV87

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When, I sold my last vehicle. Sold it to a private party, not traded in. I believe it helped me to keep the price higher. Receipts for upgraded suspension, catalytic converters, new timing chain parts/labor were convincing, that the vehicle was well taken care of.
As far as trading in, not so sure. Dealers will try to lowball you as much as possible. I once pointed out that the car I wanted to trade in, had brand new tires and wheels, to which the answer was: "a vehicle is supposed to have wheels and tires..."
If you can, sell your car yourself, you'll be much better off.
 
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Murdock188

Murdock188

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Ok, that's good info to have thanks for your replies. I prob will sell privately when the time comes. Hopefully the only records I'll have are oil changes and brakes lol
 

Flip-er

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I have always had ALL service records for every truck I have traded in, and am told by dealer, thank you BUT no thank you, we will shred them is you like or you can throw them away yourself.
They dont really care about them.
NOW
If you are selling privite party, it may help.
 

tron67j

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You should do much better selling it to a third party than trade to dealer. Dealers will not give nearly as much on a trade in, and I always recommend that someone trading get value first before stepping on sales lot. There is no truth to the idea you will get more if you buy a more expensive vehicle. The trade in value is one separate action, and the purchase of a vehicle is a completely different financial transaction. You negotiate each one separately, or you get lost in numbers. Different, but using this to say: Always! Always! Negotiate the sales price of a vehicle even if you end up leasing. You never, ever pay the price you see on the internet. And always negotiate the return value, your payments are based on initial sale price less residual value, so negotiate well and your lease will be much lower. The line of $199 a month with $3500 due at signing is just to get the 199 price point in the add, there is no law you have to put money down.

Back to the topic: The one thing you, the purchaser, can benefit from is the sales tax savings by showing the trade in value when titling your new vehicle. That is why you want to negotiate trade in first and get it as high as possible. The sales person will not let you leave even if you demand that value first, and don't fall for the "go look on our lot while our appraiser looks your truck over". Have them get you a coffee and donut.

Records would be possibly helpful to seal the deal to a third party but value is based on vehicle, options, and subtracting for above average mileage and wear and tear. Dealers will not care about records, they generally make a decision to wholesale out after trade in, or may further inspect and either then sell on their lot or otherwise wholesale if they find something.
 

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I have owned approximately 50 new vehicles including motorcycles hence I trade and/or sell often. private buyers always act like the records are important and I have always had the dealerships inquire if I have records but they never asked for them. I keep a log on every vehicle I have had so if they do want them they get a nice binder of the records. Seems like motorcycles have generally been private sales and those people love records. I sold my last 4 wheel vehicle privately (2018 jeep rubicon) and they buyer was happy to get the records.
 
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Murdock188

Murdock188

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I have always had ALL service records for every truck I have traded in, and am told by dealer, thank you BUT no thank you, we will shred them is you like or you can throw them away yourself.
They dont really care about them.
NOW
If you are selling privite party, it may help.

I would think the dealership would want them to help them sell it for more money but I guess from the responses that logic is flawed if I'm looking at two trucks at a dealership and they are very similarly equipped and close mileage wise I know I would prob go for the one with a complete service history over the one that didn't have it and was a complete unknown. I usually try to sell privately if possible but that did bite me in the ass I'm March with covid, I didn't trade in my car and it ended up sitting in my driveway for 4 months. I made 100$ total on it after having to keep insurance on it lol.
 

mtofell

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I agree.... dealers don't care and would likely throw away anything you give them.

I also agree to sell private party. The margin dealers expect these days is ludicrous. Prior to buying my Ram back in 2014 I had a very sought after stock 2006 Duramax. First thing dealer tells me is, "well, the diesel truck market is really soft right now....". Yeah, right. KBB had it's trade-in value at about 19K. Dealer lowballs me at 14.5K and won't budge (I had already negotiated them down on my new purchase so that was locked in).

So, I go put ot in Craigslist and sold it within 3 days for 21.5K. Probably could have got more if I had waited.
 

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I would think the dealership would want them to help them sell it for more money but I guess from the responses that logic is flawed if I'm looking at two trucks at a dealership and they are very similarly equipped and close mileage wise I know I would prob go for the one with a complete service history over the one that didn't have it and was a complete unknown. I usually try to sell privately if possible but that did bite me in the ass I'm March with covid, I didn't trade in my car and it ended up sitting in my driveway for 4 months. I made 100$ total on it after having to keep insurance on it lol.

They don't care about them. They will remove the records, if left in the vehicle at time of trade, and dispose of them.
 
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