Car Trade In Question
- Thread starter MotionMan
- Start date
funboy6942
Lifer
- Nov 13, 2001
- 15,320
- 401
- 126
As long as you do not owe anything on the car you have now, or do and are not upside down on the loan, you can take the car in, but plan on them giving you trade in value for your car now which is generally a few grand less then what you can get for it if you sold it. Then they will take that money and put it towards one at RETAL, not what they took it in fo rlike they are doing with yours.
Most dealers do not like cutting you a check for the difference unless they steal your car, and stole the one your looking to get.
Your best bet is to sell your car on Craigs list, and buy a car off aperson. The dealership will always try to do whats best for them, and worst for you, never will one do something to be nice and help you out, I know, I ran my fathers car lot till he died, and then managed a few others in the sales and repair for Ford, Dodge, and Infinity. I never once did a trade unless I was in the car they wanted for next to nothing, and made it look as though I was giving you a hell of a deal, but for my own personal stuff, not company related I am ALWAYS on the up n up.
But anyway, I hope this helps you out, and really if you wanting to trade, stay away from new if you can, mom and pop dealers you will have a better chance at with a trade, and just buy the car you want, one year older, due to the money lost right off the lot, can usually get a better car, and if the offer you an extended warranty, or not, make it part of the deal, and TAKE IT! Used or new, ALWAYS take the extended or get one before the fatory warranty runs out, but always cheaper if you buy it on the spot when you get your car.
Most dealers do not like cutting you a check for the difference unless they steal your car, and stole the one your looking to get.
Your best bet is to sell your car on Craigs list, and buy a car off aperson. The dealership will always try to do whats best for them, and worst for you, never will one do something to be nice and help you out, I know, I ran my fathers car lot till he died, and then managed a few others in the sales and repair for Ford, Dodge, and Infinity. I never once did a trade unless I was in the car they wanted for next to nothing, and made it look as though I was giving you a hell of a deal, but for my own personal stuff, not company related I am ALWAYS on the up n up.
But anyway, I hope this helps you out, and really if you wanting to trade, stay away from new if you can, mom and pop dealers you will have a better chance at with a trade, and just buy the car you want, one year older, due to the money lost right off the lot, can usually get a better car, and if the offer you an extended warranty, or not, make it part of the deal, and TAKE IT! Used or new, ALWAYS take the extended or get one before the fatory warranty runs out, but always cheaper if you buy it on the spot when you get your car.
- Oct 28, 1999
- 62,484
- 8,344
- 126
Last November I traded in a truck worth 18,000 in on a car that I negotiated down to $15,000. I had a $3,000 credit going into the deal.
I was still carrying a loan balance on the trade in but they paid off the loan and dropped my new loan by $3000. Had I no loan, the dealer would have cut a check for the difference.
I was still carrying a loan balance on the trade in but they paid off the loan and dropped my new loan by $3000. Had I no loan, the dealer would have cut a check for the difference.
- Oct 28, 1999
- 62,484
- 8,344
- 126
Also - if you have a Carmax anywhere nearby, swing by and get an appraisal. It will give you a decent estimate of what to expect from a dealer trade in and gives you bargaining room.
And if all else fails at the dealer, you can just sell it to Carmax for the appraised value.
And if all else fails at the dealer, you can just sell it to Carmax for the appraised value.
- Jan 11, 2006
- 17,124
- 12
- 81
I like the idea of doing a private sale, because I should get more money for it. I just wonder what the market is like for a big gas guzzler like my 2003 Lexus LS430.
I like the idea of getting a slightly used car (1-2 years) also, but I am thinking about getting a Prius, but I doubt people who bought those less than two years ago a looking to sell, especially the ones with the carpool stickers (California).
In any event, I will research all my options, but this one about the trade in just had me wondering. I never would have thought a dealer would do that.
MotionMan
I like the idea of getting a slightly used car (1-2 years) also, but I am thinking about getting a Prius, but I doubt people who bought those less than two years ago a looking to sell, especially the ones with the carpool stickers (California).
In any event, I will research all my options, but this one about the trade in just had me wondering. I never would have thought a dealer would do that.
MotionMan
- Oct 28, 1999
- 62,484
- 8,344
- 126
Actually your LS isn't *that* bad is it? I knew a guy with an LS400 and he said that on the highway it would pull around 26MPG pretty consistently. Obviously trying to move that 4000 pound land barge around town gets you like 16MPG.
But for being as big as it is, with a V8 the milage isn't terrible. I think what hurts you the most for the trade in is the latest revision of the LS. It's a huge step up in looks and features over the previous models.
Check in with Carmax. The offer they shoot you may surprise you, especialy if your car is clean.
But for being as big as it is, with a V8 the milage isn't terrible. I think what hurts you the most for the trade in is the latest revision of the LS. It's a huge step up in looks and features over the previous models.
Check in with Carmax. The offer they shoot you may surprise you, especialy if your car is clean.
- Jan 11, 2006
- 17,124
- 12
- 81
Overall I get about 17 mpg. Also, it is completely paid off.
I commute every day, mostly in stop and go. On the weekends, we mostly use the wifes minivan (which may go next
). So, it seems like a big waste for me to have such a big car when I could be getting much better gas mileage from another car.MotionMan
funboy6942
Lifer
- Nov 13, 2001
- 15,320
- 401
- 126
Take your car, price it 1K less then any other, no matter if yours is the nicest, sell it because any rich person to show up with cash in hand can afford the gas for it, dont worry about market, your car is in a whole different market any way from normal people with kids, and bills, then take that cash and buy a fairly new car, with a used car warranty, and your set, pocketing what ever cash you may have left after buying the other car.
It can be done at dealers if you want, but your not going to get anywhere near what you can from a regular person, even when you price yours 1K lower, and your not going to get much in car value because your not getting much for your trade, and they are selling you a car at retail, where as you can get a hell of a deal off someone else in person. and dont think you cant find the car you want, there are always reasons for peoples madness, like why on earth you want a car with batteries that if break costs you 4-5x more then its regular car counterpart, but everyone does it for what ever their reasons so you can get what you want and sell yours, you just need to take the first steps and that being taking pictures and getting it up on the list for sale, and go from there.
You know the money you save in buying a hybrid doesnt equal out in what you pay for it, and car repairs when needed, when you just buy a regular car that gets 30+ mpg on its own without batteries or electric motors. In most cases its still cheaper in the end, and I sure as hell cannot recommend you buying a hybrid 2nd hand, thats just asking for trouble sooner then later, and you need to read the warranty, and or extended warranty very carefully to make sure you know what and what is not covered, because that can really take a bite out of your ass if things like electric motors or batteries are not covered. Get one dead cell and it can cost you thousands out of pocket because its not covered for its a part that wears out like brakes, and doesnt throw a rod like a gas motor would that would be considered mechanical defect.
You want to save a ton of money, buy 2 cars, something a nice old Focus, and a very used, easy to fix, Geo Metro, and stll pocket money, or buy a motorcycle with whats left.
It can be done at dealers if you want, but your not going to get anywhere near what you can from a regular person, even when you price yours 1K lower, and your not going to get much in car value because your not getting much for your trade, and they are selling you a car at retail, where as you can get a hell of a deal off someone else in person. and dont think you cant find the car you want, there are always reasons for peoples madness, like why on earth you want a car with batteries that if break costs you 4-5x more then its regular car counterpart, but everyone does it for what ever their reasons so you can get what you want and sell yours, you just need to take the first steps and that being taking pictures and getting it up on the list for sale, and go from there.
You know the money you save in buying a hybrid doesnt equal out in what you pay for it, and car repairs when needed, when you just buy a regular car that gets 30+ mpg on its own without batteries or electric motors. In most cases its still cheaper in the end, and I sure as hell cannot recommend you buying a hybrid 2nd hand, thats just asking for trouble sooner then later, and you need to read the warranty, and or extended warranty very carefully to make sure you know what and what is not covered, because that can really take a bite out of your ass if things like electric motors or batteries are not covered. Get one dead cell and it can cost you thousands out of pocket because its not covered for its a part that wears out like brakes, and doesnt throw a rod like a gas motor would that would be considered mechanical defect.
You want to save a ton of money, buy 2 cars, something a nice old Focus, and a very used, easy to fix, Geo Metro, and stll pocket money, or buy a motorcycle with whats left.
El Guaraguao
Diamond Member
- May 7, 2008
- 3,468
- 5
- 81
I have a 2002 Mitsubishi Diamante VR-X, I financed it a little more than a year ago @ 60month 16% apr owing 12k on it. First time buyer here. The car has 60k miles on it and the car is flawless both mechanically and cosmetic. I want to trade it in for a 05 Subaru legacy GT (4cyl boxer engine all wheel drive 5spd) but the car usually sells for 15K+ on auto trader with decent miles.
What do you guys think are the chances of me being able to lower the price on a legacy enough to trade my car for it?
What do you guys think are the chances of me being able to lower the price on a legacy enough to trade my car for it?
Absolutely. I've had people trade in a car that was worth more than the car they bought, and they got a check for the difference.
I've even had one dude trade a small, paid-for van in a a larger one....he actually financed the entire amount instead of having the trade value deducted from the new van and got cash out.
El Guaraguao
Diamond Member
- May 7, 2008
- 3,468
- 5
- 81
Muadib
Lifer
- May 30, 2000
- 18,081
- 896
- 126
No, he's just telling you the truth. Your car is worth about 9800, and you still owe 12k on it. That means you are in a upside down loan, or you owe more than the car is worth.
My 9800 figure is just a ballpark, because I don't know what options you have on the car. It's also not the trade in value, it's what you would get if you sold it yourself. Good luck!
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
Fvck the stealership, they are a middleman you do not need. Listen to funboy and others. He has worked at them and is telling you to steer clear.
Impossible. You will NEVER sell that Mitsu for the amount of a 05 Subaru. Not even close, I'd assume you car is worth way less than $10k.
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