What's a typical hit to a man's wallet when he buys a new car then trades 500 miles
 

Okay, just throwing this out. I bought a CRT ZL1 a few weeks ago for roughly $58K. Now my heart has me wanting another rally yellow car. I found a few yellow ZL1 cars in my area.

Dare I ask how much of a hit this will cost? Obviously my CRT ZL1 is in brand new condition but is already technically used.

What do you guys and gals think?

On paper a "good" dealer/salesman should be able to make you think it's barely costing you anything. In reality, probably several grand.

prepare to lost several grand in the trade. trading a car after less than a year is never pretty, but the sooner it is, the worse money/time depreciation tends to be.

As stated its going to be a few grand. Not really a smart move but if you want it and the loss doesn't bother you, why not?

going to loose several grand on the car, plus whatever you paid for taxes, title, tags, etc.

Why you don't paint your yellow? :yikes:

If the ZL1 was new when you bought it, it will now have to be sold as "used" since it was titled. This alone will bring the value down by a few thousand. I'm sure the dealership would love to do a deal though, as they will be making thousands off you on both sides of the deal.

Seems like a mistake.

the sooner you trade the better deal you'll get, it's easier for a dealership to sale a $58k car with 500 miles and say the first owner changed minds on the color, that's believable, once a car gets 10k miles on it, people tend to not believe those stories and think it might be a lemon car. although I like the red,its a good color.

The day you drove it off the lot I would hazard to guess you lost closer to $5k on a $58k vehicle. Pull up NADA or KBB and enter in your info and look at clean trade-in, if you are lucky you will pull that amount. If looking at NADA I would guess you would get between average and clean trade-in. JMO.

Dean. :popcorn:

You don't loose the money you paid in taxes.

Wow, not a fan of the the yellow. Be prepared to bend over for thr dealer. Couple of grand youll be losing, why not just paint if its a color issue. Everthing else is the same.

It looks like I'd take a pretty good beating if I do the deal. Guess I will miss having a yellow car.

I traded my 10 for an 11 after a year and with the $1,500 from GM I only lost $1,000.

It probably would cost less to just have it painted, and you would most likely end up with better paint job that way.

For you guys saying to have it painted....you do realize that it costs upward into the $10,000 range to paint a car I hope you know....

There is only one way to find out how much you will lose is to go to a dealer that has the yellow car you want and ask. It will only cost you the time and gas money to do it. Just like everyone else I am only guessing at what you will lose.

Dean.

Exactly.....people think Maaco $59 paint job is good. $10k is about right.

you'll lose 5k on the trade if they will do it

hey look on the bright side you have an awesome ZL1 :thumbsup: but I completely understand, I almost made a mistake and got a different color too. Rally yellow is the only way to go for me and If I ever chose something else I'd be looking to get the yellow back. Do a little more research and see what you can work out. try private selling it, who knows someone might want it bad enough and pay good money.

No one asked you. :thumbsup:

Do they refund that or what? Move the taxes you paid on the old vehicle over to the new one so you don't have to pay them again?

Trade in value gets subtracted from the value of new car and taxes are calculated on the difference.

The tax that was paid on the car being traded in aren't included in the value. That money is gone. You're going to lose that money plus have to pay a smaller amount, but an amount none the less, of taxes on the new one as well. Assuming he paid $58k cash OTD he's still going to pay taxes on the $10k or so that its going to cost him to trade it in for another color. Unless my math is off that's still tax + more tax. On top of new title and license. All for a new color. Like others have said, it might be cheaper to just pay $8k or so for a new paint job.

Just enjoy your car. Many people would love to have a ZL1....in any color.... but they can't afford it and/or life situation won't allow.

I'd price out a paint job. It might cost more than you'd lose, but you'd get a much better quality paint job that is going to last much longer.

This thread has been moved to the proper forum. :thumbsup:

Forgot to point this out as well. Factory paint jobs aren't exactly the best. A quality body shop is going to give you a way better longer lasting paint job than anything coming out of a gm, ford, Toyota etc. plant.

Sorry but to all the people saying "repaint it yellow"... I find this to be a ridiculous idea. If you think you'll lose a lot of money trading a 500 mile red ZL1 in for a yellow one, wait til you try selling/trading it in a few years after having it totally repainted, and in the wrong color.

You can always vinyl wrap it, it will cost you a couple of grand, and if you get bored a few years from now, you can change colors.

You may get lucky and break even. I traded in my 2013 1LE with 488 miles. I paid $41k, they gave me $44,500 for trade in. Then I bought a ZL1, :)

:iono:


http://www.earlscheibautopainting.com/


LOL

Sunset Chevy in sarasota just got a yellow ZL1in last week. They still have it. Call Mark Fisk and tell him you know Hot Wheels Steve. He will work a deal for you.

Good Luck

That's very hard to believe, unless the new car had a lower price tag. Value of the car/trade aside, you have to account for the 9 - 11 months of payments that you made + licensing.

you lose your a$$(@ least 10%) once driven off the lot..g/l.

score. but how much did they jack up the $ on the ZL1?

:word: the second you repaint any car after it has left the factory you loose almost all the value you have.

I lost 7k in my trade

Instead of asking a bunch of arm chair sales man. Just go to the dealer and ask them. At least that way you will get an actual answer instead of a guess.