Beware: If you are trading in your old car?

[Barry626]

Looks like most dealers are no longer giving good $ on trade ins?
I went to four dealers to order a loaded 2SS in pass 3 days.

My car is a 09 that MSRP $34000 with added options + accessories.
3 months later and all four dealers are offering $15000 - $20000 Tops!
Plus the bastards want full MSRP on thier Camaro.

Point of this thread: Be sure you work your trade in before ordering your Camaro.
Otherwise your in for a rude awakening come March & April when your cars arrive!

I'm gonna try to sell my car outright but we all know how much of pain that can be.
There is no way I will let my car go less then $26000 so looks like no for me

[MerlinZero]

Yeah I knew i was upside down on my Trade i have my 08 I owe 33,000 on it. i've agreed to getting 27500 for it.

I know there's no way around it. but i think I came out pretty good. the sticker on the car was 29,000 (the WRX) I got it at 26,000 and optioned it back up: Tint, Exhaust, Shifter, Engine dressing, clear coat, and interior coating.

[EllwynX]

I'm expecting to be at least close to being even. I owe $7500 on my 2005 Aveo LT Sedan. I've been paying an extra $60 per month in hopes of getting it as low as possible (about $300 a month goes to the principal). So it should be more like $6000 or less when it's time to trade. Mileage is very low (25,500) for a 4 year old vehicle. And it's in great condition cosmetically.

Ultimately I'd like to keep it, but I don't think a $450-$500 Camaro payment plus a $289 Aveo payment (even if it is for less than 2 years) will be feasible.

The old woman who lives behind me is in need of a newer vehicle, and isn't willing to buy anything for over $10,000. She asked me about my Aveo a couple years ago. I may see if she would be interested in purchasing it from me for a reasonable price when the time comes. It helps that she likes it and really likes Silver. LOL

[Barry626]

Originally Posted by MerlinZero

Yeah I knew i was upside down on my Trade i have my 08 I owe 33,000 on it. i've agreed to getting 27500 for it.

I know there's no way around it. but i think I came out pretty good. the sticker on the car was 29,000 (the WRX) I got it at 26,000 and optioned it back up: Tint, Exhaust, Shifter, Engine dressing, clear coat, and interior coating.

Although your $5,500 loss is still a lot.
If I was only losing same I would of bought my 2SS two days ago.
Bastards want to rake me $15,000 - $20,000 & Full MSRP on Camaro. UNREAL!

[camaro5]

I wasn't going to drop this bomb, but the op is absolutely correct.

Wholesale values have plummeted. I'm stuck with 2 or 3 cars I need to unload.

Hang in there.

EDIT: There's a company - Galves.com, that does real-time, auction prices. That's what most dealers will offer for many trades. It cost $1.95 for 24hrs, if I remember.

All the free ones: Edmunds, KBB, Black Book, NADA, etc. are not close, in most cases, to what a dealer may offer for your vehicle in trade.

This also reflects somewhat, the current retail used car market.

[TomServo]

Go visit the Corvette Forum and read all the horror posts re this issue. Corvette's that sold new for $55K a year ago can't fetch $40K now. BTW there are still 160 BRAND NEW 07 and over 2100 08's Corvette's sitting on dealer lot's right now. Camaro's and Corvette's aren't vehicles folks NEED in a recession.

BTW, here's CF member that gather's data from GMBUYPOWER to track the number of new Corvette's still sitting on dealer lots. To see 160 Brand New 07's out there is an eye opener and should ground each of us, if GM can't sell Corvette's I fear the Camaro may face a similar fate.
http://www.jeffhardy.com/lookupvette.php

Or check out this CF dealer - http://forums.corvetteforum.com/c6-d...corvettes.html
$2000 below GMS and 75 to choose from

Good luck but be prepared to take a beating if you have a trade.

[ZombieEatsYou]

Originally Posted by TomServo

Go visit the Corvette Forum and read all the horror posts re this issue. Corvette's that sold new for $55K a year ago can't fetch $40K now. BTW there are still 160 BRAND NEW 07 and over 2100 08's Corvette's sitting on dealer lot's right now. Camaro's and Corvette's aren't vehicles folks NEED in a recession.

BTW, here's CF member that gather's data from GMBUYPOWER to track the number of new Corvette's still sitting on dealer lots. To see 160 Brand New 07's out there is an eye opener and should ground each of us, if GM can't sell Corvette's I fear the Camaro may face a similar fate.
http://www.jeffhardy.com/lookupvette.php

Or check out this CF dealer - http://forums.corvetteforum.com/c6-d...corvettes.html
$2000 below GMS and 75 to choose from

Good luck but be prepared to take a beating if you have a trade.

Good info Tom Servo (how are Crow and Gypsy these days? ) I think the success of the Camaro will depend greatly on how it's marketed. If they stress the fuel economy tied to its looks then it might succeed. "Get muscle car looks at an economy car cost."

[Txturbo]

I never trade in a car. You give the dealership too much leverage by doing that. Thats like picking a fight in a biker bar and then handing the other guy your gun.

[TomServo]

Originally Posted by ZombieEatsYou

how are Crow and Gypsy these days?

Preparing Dr Forrester's Christmas Card

[bourney20]

Where in Rochester Ny did you order your car from. I'm from Rochester as well. I talked with Hoselton chevrolet in Fairport and they said they will honor MSRP on all camaros.

[bobscogin]

Originally Posted by TomServo

Go visit the Corvette Forum and read all the horror posts re this issue. Corvette's that sold new for $55K a year ago can't fetch $40K now.

Just spend a little time on ebay if you want another indicator of how bad it is. I just ran a search of "Completed Items" for 2005-2008 Corvettes and of 791 cars that turned up in the rearch results, 39 met reserve. That's 5%. Now if reserves are being set at "book" value" -- and I'd think that's a reasonable assumption -- there's a lot of folks gonna take an a butt whippin' trying to sell a Vette. It's no stretch to understand how this will hurt Camaro sales (except among the diehard faithful) because buyers looking for performance now get to choose between a year old Corvette or a new SS. The times they are a changin'.

Bob

[ron8879]

With the current situation of the market, nobody is truely buying cars or trucks. People are just not willing to part with earned physical cash, when they may need it. This is why the prices are down....too many vehicles sitting on the lots that are new...and too many trade in's that they cant resell....supply and demand....

I personally decided that if the dealership doesnt give me a decent amount for my trade, I will more than likely hold onto it until the market upturns and sell it outright or keep it and use it as my daily driver to keep the miles off the camaro (and to keep it from getting scratched up in parking lots.....grrr)

[EMT644]

I made it very clear to the dealer when I ordered my camaro that I have no need for two vehicles. So either the truck is sold or traded in for a reasonable amount.

I will take a 3-4 k loss MAYBE but after that I'm walking away. I owe 15k on my truck as of this moment so maybe I will be ok. The only thing I have going for me is that trucks are still selling well where I live.

[SS4EVER]

Yeah, I've really noticed that prices have dropped alot on the car market. The only reason why I'm glad I leased a car. Which goes back in less than half a year.

I've already been looking out there on the car market and I was looking at 350Z's and even brand new base coupes were going for 24k off of 28k MSRP. Used ones with like under 20k miles were going for like 19-24k.

I've been looking currently at 06 GTO's and 06-09 TrailBlazer SS's and I'm finding alot with under 20k miles going for around 18-23k range...

It's a good time to buy, if you can afford to but definitely not to sell...

But for those of you planning on trading in your vehicles, I STRONGLY suggest selling them privately and putting them up on the market right before you plan on picking up your Camaros bc no matter what kind of car you have the dealers are going to leave you high and dry on your trade in...