How much is a 2016 Camry XLE 4 cylinder worth after you drive it off the lot?

huh4

I am interested to know the hit one takes when they drive a Camry off the lot.

This one pretty much has no options but standard equipment for an XLE.
This is the car I might buy tomorrow

http://southeast.buyatoyota.com/camry#~poMvTz7pvs92nd=&vin=4T1BF1FK8GU507944

Michaell

huh4 said:

I am interested to know the hit one takes when they drive a Camry off the lot.

This one pretty much has no options but standard equipment for an XLE.
This is the car I might buy tomorrow

http://southeast.buyatoyota.com/camry#~poMvTz7pvs92nd=&vin=4T1BF1FK8GU507944

Not sure I can answer that question with a specific number or percentage, but certainly it will be less than you paid for it.

Unless you plan on trading it in immediately after signing the papers, I'm not sure I understand why you need to know.

huh4

just trying to get in a better equity position than I am now.

They are offering me a 2016 XLE for $23k. MSRP is $28k so I was wondering if this $5k discount is fake incentives and rebates or if that discount will help me get out of negative equity.

I can also get a 2015 XLE for 22k.

Would you get the 2015 or 2016?

kyfdx

huh4 said:

just trying to get in a better equity position than I am now.

They are offering me a 2016 XLE for $23k. MSRP is $28k so I was wondering if this $5k discount is fake incentives and rebates or if that discount will help me get out of negative equity.

I can also get a 2015 XLE for 22k.

Would you get the 2015 or 2016?

You can't buy yourself out of negative equity. Negative equity only matters if you are trading or selling your current car. If you just keep driving it, eventually you'll pay your way out.

huh4

I found a man with a dealers license he is taking me to auction Wed. Screw the stealership.

isellhondas

I was willing to help you with your question until your last sentence.

Michaell

huh4 said:

I found a man with a dealers license he is taking me to auction Wed. Screw the stealership.

What do you hope to accomplish at the auction?

isellhondas

Very good question since only used cars are sold at auction. they only take cash and don't take trades.

Unless this person is planning to write a big check, he will be rolling a large amount of negative equity into a new car loan which will make him much more upside down.

And this is assuming the lender will allow him to finance negative equity.

huh4

I bought a 15 xle with 10k for $18.5. He consigned Toyota sienna and sold it for my payoff now I am no longer upside down

Michaell

huh4 said:

I bought a 15 xle with 10k for $18.5. He consigned Toyota sienna and sold it for my payoff now I am no longer upside down

Thanks for checking back in. But - who is the "he" you refer to?

huh4

auto auction broker who took me to auction with him

Michaell

huh4 said:

auto auction broker who took me to auction with him

Ah, OK. Thanks for clarifying. Looks like everything worked out all around for you. Enjoy the new Camry!