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-   -   What's a typical hit to a man's wallet when he buys a new car then trades 500 miles (http://www.camaro5.com/forums/showthread.php?t=289032)

bumblebeecamaro 04-13-2013 09:37 AM

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?

joeybsyc 04-13-2013 09:41 AM

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

brandonrr 04-13-2013 10:19 AM

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.

Ringo64 04-13-2013 10:27 AM

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?

jd10013 04-13-2013 10:29 AM

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

Monchy36 04-13-2013 10:31 AM

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

Fiveg56 04-13-2013 10:34 AM

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.

CyberPunk223 04-13-2013 10:50 AM

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.

skibik 04-13-2013 10:56 AM

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:

yellowrs 04-13-2013 11:07 AM

Quote:

Originally Posted by jd10013 (Post 6418800)
going to loose several grand on the car, plus whatever you paid for taxes, title, tags, etc.

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

SSGUNNER 04-13-2013 11:13 AM

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.

bumblebeecamaro 04-13-2013 11:18 AM

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

Ohten 04-13-2013 11:25 AM

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

gmen09 04-13-2013 11:32 AM

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

Frid 04-13-2013 11:39 AM

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....

skibik 04-13-2013 11:45 AM

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.

1MULLET 04-13-2013 11:55 AM

Quote:

Originally Posted by Frid (Post 6419030)
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....

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

bw26ss 04-13-2013 11:58 AM

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

SuperSport2011 04-13-2013 12:07 PM

Quote:

Originally Posted by bumblebeecamaro (Post 6418978)
It looks like I'd take a pretty good beating if I do the deal. Guess I will miss having a yellow car.

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.

SuperSport2011 04-13-2013 12:09 PM

Quote:

Originally Posted by SSGUNNER (Post 6418954)
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.

No one asked you. :thumbsup:

invaderzim 04-13-2013 02:10 PM

Quote:

Originally Posted by yellowrs (Post 6418926)
You don't loose the money you paid in taxes.

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?

rock1962 04-13-2013 02:37 PM

Quote:

Originally Posted by invaderzim (Post 6419436)
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.

invaderzim 04-13-2013 02:53 PM

Quote:

Originally Posted by rock1962 (Post 6419513)
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.

LimaCharlie 04-13-2013 03:03 PM

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.

slomaro3.4 04-13-2013 03:08 PM

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.


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