Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see May lease deals!
Options
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
What is the current payoff?
If you are too far upside down,you may not even get a loan or lease on the new car.
Banks are cracking down on rolling trade inequity into new contracts.
Your best bet may be to wash it in gasoline and dry it with a match
Thats's a joke BTW. :P
There used to be guys in parts of Boston, probably still are, who would make that happen for a couple hundred$$.......
But Has anyone noticed, that the worse the economy gets, the more people there are (here) who seem crazed to dump almost-new cars at a considerable loss, to buy a brand one that doesn't seem all that much better?
Those people are always around.
The other problem is the value of the car, the trade value today is $9,880 for a car of average condition. A dealer would offer you something south of that figure, if he offers more you can be assured that the differance is buried some were in the deal. Anuther problem is that a large number of your car went to rental companies so quite a few are floating around looking for a retail home thus driving the value of the car even further down. I don't think you have a way out of this car without laying out some serious cash. My suggestion is to hold on to the car or look for a new car with program or rebate dollers on it that could help offset you reamining balance.
Good Luck, Peter :shades:
I am going to keep the car. However, I will get quotes this Spring to see exactly where I stand at a year into the lease. I am just so mad at GM, and realize that my car is nice for what it is. Certainly not a Honda, but a nice car. GM and Honda not in the same class. I have driven both. I should be so lucky to have a newer, nicer car.
So I need to be more grateful. I just never wanted this car, never would have chose this. I had to choose this car in order to lease another car for a family member. They couldn't obtain a new lease. They get to drive the 08 Jetta SE. Guess what I had to give up to get the VW, an 06 Accord! But, then I needed a car, I had to choose a GM car. VW wouldn't let me have the Accord or trade for another VW and still obtain the VW for the other person. I am a student with limited credit back then. Apparently good enough to lease 2 cars. The dealer was very nice, helped me out, It was bad for me.I am over it now though. I did a good thing. I did a nice thing. I have grown to actually love this car. I just hate the engine! Aww, I am so nice. Gotta love it. But, when I get to drive the 08 Jetta, it puts a smile on my face! After all I still own that too. Every now and then I get to drive it.
Sometimes its good to hear others put things into perspective.
I appreciate all the advice. I'll keep it! Its not a bad lease either I am only paying $319 a month total on the lease. For a loaded G6, except the V6, that is great. Apparently, my salesmen stated that cannot be had right now.
I crave the day, I turn it in, and get my Honda or the new Acura TSX! I am going all out!
Your family member is very lucky to have your help.
Best wishes, DQ
Am wondering what my 4runner is worth; 07 SR5 4wd V6 with 29k miles, sunroof, towing, roofrack, very good condition, all dealer service, 50% tires, 65% brakes remaining. 18K residual, 5K+ remaining payments. If the Tundra is about 33K OTD how much cash might I be looking at if I paid cash for the Tundra?
Thanks for any ideas, DQ
I am happy for now. its okay!
Looking to buy a 2007 Dodge Charger SRT-8. ...red, w/ 27800miles, loaded, nav included. What should I offer???
Thanks for any thoughts you put towards my post!!!!
The other point is that values of cars for the most part ignore all the options beyond the norm. As an example you pay 2K for a NAV system but on trade in it returns very little if any value. cars are graded clean, average and rough and the values are based on those conditions. Most dealers will want to pay rough or just over rough for a car and then resell it at clean values if possable. So for this qustion I will give rough values and you can make your judgments from that.
Your 330i today has a rough retail value of 14.7K with a trade value of 11.6K. The SRT-8 has a auction value or wholesale of 21,350 against a rough retail amount of 24,350. depending on the condition of the SRT-8 I would try for 22.5 or less but no more than 23,500.
Peter
Arizona
'07 VW GTI
2.0T 6 speed man (not DSG)
16K Miles
Silver
Package 2 - leather, climate, roof, 18" wheels
Excellent condition
CPO
Offered up by a VW dealer - what's a reasonable price?
Thx,
Scott
I want to trade in a :
2003 Dodge Durango-SXT- 2WD SUV - 4.7L V8 engine [Texas]
67k miles[ Just did 60k mile service at dealer,cost me $700]
Blue exterior with black cloth interior
Good condition
New tires with 85% tread left
Options: ABS,Cruise,Keyless entry,tow package
The minivan I am looking at is:
2004 Nissan Quest S model [minivan] -3.5l,auto,FWD
60k miles
Red exterior with brown cloth interior
Good condition
Tires 70% tread left
Options: ABS,cruise,Keyless entry,ESC-not sure
The autocheck and carfax reports are clear.
So,what should be my final OTD price after the trade in?Is $ 2000 workable? I also have to consider the fact that 2004 Nissan Quests are not very reliable.
Thanks.
I don't think so.
Your truck is worth $4500-5000 wholesale.
Quest wholesale is @ $6000, plus dealer markup.
Maybe you could trade for a $3000 difference
Will try to start at $ 2000 and see where it goes from there.I would buy it immediately if we agree on the price.
Will update as to how it goes on Monday.
Would i encounter any major problems with repairs or would I be OK.
Do you folks think- I should do this deal or should I just wait.The Durango is fine,,but it is aging with the interior looking ancient.The quest had an amazing interior relatively and was more spacious.Also car fax shows regular dealer maintenance with 1 owner.
Thanks.
It's at best a "lateral move", IMO. Unless there's some pressing reason to trade the Durango. And when you trade one $5K car for another $5k car at a dealer, a lot of the "difference" you pay may just go for dealer profit.......
I'd wait until you "need" a new car, & then try to get a significantly newer, lower mileage, more reliable one than the one you have. just my 2 cents.....
Some VQs require premium fuel, that would eat up any gas savings.
I run regular in my G35 without any issues whatsoever. I actually get better mileage compared to premium, to boot. Weird, I know, but true.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
But,yes,I am very very very happy at this deal.Could not have done any better anywhere.Again,I was extremely happy.The dealer cut me a check for 18k.And there was no haggling.A great dealer though,,I must say,,very hassle free,no pressure,no scare tactics- started at 17.5k,,,,ended at 18k.He told me some 2009 demo models had more than 550 miles which I had on my van.I guess they are going to sell it as a used Certified Honda vehicle.
Thanks once again to everyone.Really appreciate all you folks.
Thanks again!!!
To Corvette....As for the suggestion of getting a WRX, those things are hideous! Not my style, yep, I like big v-8's that rumble and smooth BMW's. NO Subarus for me! Thanks for the suggestion though.
Southeast Louisiana
2007 Honda CRV LX 2WD
22,000 miles
Excellent condition, all service completed
Thanks
2006 Scion Xa
Auto
50,000
Silver - Ext, Black cloth - Int.
1st owner, no dent, no accident, exellent condition
Year/Make/Model: Toyota Prius 2008 (purchased in Oct 2007)
Body Style: 4dr hatchback
Engine: 1.5L
Driveline: FWD
Mileage: 20,300
Color: Silver metallic exterior. Dark gray interior
Major Options: Leather seats. Bluetooth integration. FOB key (leave it in your pocket). Reverse camera. Single CD (plays MP3)
Condition: Excellent. Some minors stains on carpet. Can be shampooed. .
Tires - 80% treads. Original.
Brakes - Original. 70%+
Maintenance - Purchased prepaid maintenance plan from a dealer, covering all oil changes and scheduled major maintenances (15k, 30k)
Other: No damage
- 2003 Toyota Highlander
- 3.0 V6
- 4WD (or AWD, whichever they came with)
- Just under 30,000 miles
- Gold exterior/tan leather
- All options except running boards and tow package (side bags, VSC,
moonroof, roof rack, rear "wing" deflector)
- A couple of very small dents on upper part of driver's door (with broken paint),
otherwise perfect body and interior
- Tires and brakes are likely original
- Probably needs 30K service
- No prior body repair or anything that would show on Carfax
This belongs to a co-worker who bought it new. She's thinking of trading on an '09 RAV4. Book values seem high. What's a real world trade number?
Year/Make/Model: 2008 Subaru Impreza WRX STi
Body Style: wagon
Engine: Turbo 2.5L
Driveline: AWD
Mileage: approx 5000
Color: white
Major Options: gold BBS STi wheels
Condition: clean - no dings to speak of, no spills inside
Tires - new
Brakes - new
Maintenance 3500mi done w/ synthetic oil
Other: dealer installed sat w/ underseat woofer/amp
thanks
1 - there are more people willing to buy used than new now
2 - percentage profit on used remains higher than on new
Anyone have thoughts or data on whether trade-in / dealer prices for used cars are edging above auction for late-model good condition cars?
Don't know if minivans are seeing the same numbers.
The "book" has fallen so far so fast on a number of vehicles that the market(ie consumers) are paying above book because the dollar price looks like such a great deal.
As long as this continues,dealers will pay more for these vehicles.
So, if anyone needs a number on a trade hopefully someone else here can help you out.
Be back in a week.
Let us know what you find out over there.
2007 Nissan Armada SE 2WD
26,000 miles, Excellent Condition
Southeastern Louisiana
I don't see too many of these for sale (in my area), so I am curious if this is the time to trade in or sell private party
Thanks
2013 LX 570 2016 LS 460
I'm not really even looking for a car like that but at that price I'd re-consider!