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Old 09-09-2009, 09:36 PM   #1
Wrighteous
 
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Trade In Problem

This whole camaro thing has been quite an experience and I have learned a lot of things on the way. Some before and some after the situations have happened.

For this particular situation, I did not think to talk numbers with my dealer before I ordered the car, my fault. My car is coming in any day now, so I decided to bring my 2007 Chrysler 300c to be appraised to be traded in. So I clean it up real nice, looked at the blue book value and I expect I'll be upside down. I owe 22,000 on my 300c. The retail blue book is 22,000(which I dont expect to get). The private party is 19,000 and the trade in is at 17,000. I take it up there today and the dealer says $14,500!!!

My question now is what should I try to do? I have printed out all the bluebook information on it. I have checked to see how much my dealer is making off the camaro from the pricing sheets. I am trying to make a case for myself to at least get three more thousand out of the trade, but I know they have me right where they want me. If I dont buy the car, there will be 10 people in line to do so. If I want to buy it I will have to play their game. I am also in sales and I speak to over 50 customers a day. I can easily go out of my way to promote the dealer or bash them(which I dont want to do). Should I try "You scratch my back, I'll scratch yours?"

Basically I'm trying to see if anyone else has been through a similar situation and what have you done?

Thanks for the input, and I am so glad to been able to have this site as a resource!
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1100, Preliminary order accepted: 5/27/09
2000, Order accepted by GM:07/30/09
3000, Order accepted by production control:08/05/09 TPW 08/24/09
3300, Order scheduled for production:08/20/09
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Old 09-09-2009, 09:45 PM   #2
Y2Breeze
 
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Did you went elsewhere to know how much they would give you for your car?

Maybe if you come with 3-4 estimate higher than theirs, that would help your case?
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Old 09-09-2009, 09:50 PM   #3
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Quote:
Originally Posted by Y2Breeze View Post
Did you went elsewhere to know how much they would give you for your car?

Maybe if you come with 3-4 estimate higher than theirs, that would help your case?
This is your best bet. But you said it, the dealer has you right now. I am guessing that they are hosing you this way instead of the 5k adm....

:(
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Old 09-09-2009, 09:51 PM   #4
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I don't see how it can be the dealer's fault. You know they always low ball customers. If you can't sell it for what want, then you'll have to take the loss, or wait. It just depends how bad you want the Camaro...:(
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Old 09-09-2009, 09:57 PM   #5
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Looks like a no win win situation for you unless you can sell the car on your own. Good Luck
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Old 09-09-2009, 10:00 PM   #6
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I thought about just trying to finance the camaro separately and try to sell the 300 privately, but I'm not sure I would have the established credit to have both financed at the same time being that I'm only 21. The dealer doesn't know that I have 10k that I'm am planning to put down, however I dont want to be shafted 7k because of a terrible trade.
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1100, Preliminary order accepted: 5/27/09
2000, Order accepted by GM:07/30/09
3000, Order accepted by production control:08/05/09 TPW 08/24/09
3300, Order scheduled for production:08/20/09
3400, Order broadcast:08/24/09
3800, Order produced:08/27/09 2G1FK1EJ6A9141778
6000, Delivered to the customer:09/22/09
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Old 09-09-2009, 10:03 PM   #7
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Start listing your car ASAP you never know how soon you will get an offer. I listed my civic si on autotrader and craigslist and had interest almost immediately. If you have a good relationship with dealer why not see if you can get financng for just the new car with your money down and try and sell your car when you can. Its worth a check even if you are 21.
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Old 09-09-2009, 10:03 PM   #8
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Dealerships expect to earn $1500-$2000 on trade-ins to make them worth their time, but they'll do their best to make as much money as possible. If your ride books @ $22,000 and they're offering you $14,500 they can go up on their offer.

The car I traded in booked @ $26,000 and the dealership originally offered me $21,000. When it came time to buy the car they told me my finance options and I simply said that the monthly payment was too much. They eventually gave me $23,000 for my trade- so it is possible.

Dealerships want to use your excitement against you, that's why they wait until they've shown you your car, let you sit in it... and maybe even take it for a quick spin before they take you to the finance officer. BUT... you can use their excitement to sell the car to your advantage also. Come up with an end all, be all monthly payment that's reasonable (one that lets the dealership make at least $4500 on total the sale) and sit down ready to buy the car. When they show you the numbers in the FO's office that's when you say the payment is out of reach.

The Camaro is a tough bird to haggle with though. If you keep it reasonable, the dealership will work to sell the car. If you don't, you'll either end up with a hefty monthly payment or you walk away.

Bottom line is to do what's best for your pocket. I've seen car payments ruin a person's quality of life.
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Old 09-09-2009, 10:03 PM   #9
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Then walk away. I know you want the car badly but if you really cant afford the car then you are best walking away.
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Old 09-09-2009, 10:05 PM   #10
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CARMAX, E-bay, Craigslist or other private sale.
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Old 09-09-2009, 10:06 PM   #11
Wrighteous
 
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I headed over to the local paper as soon as I was done with the dealer today to put an ad in, and I think I will do the online ads tomorrow.
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2SS/RS-CGM-Black Rally-20'' Polished MagnaFlow Comp Exh


1100, Preliminary order accepted: 5/27/09
2000, Order accepted by GM:07/30/09
3000, Order accepted by production control:08/05/09 TPW 08/24/09
3300, Order scheduled for production:08/20/09
3400, Order broadcast:08/24/09
3800, Order produced:08/27/09 2G1FK1EJ6A9141778
6000, Delivered to the customer:09/22/09
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Old 09-09-2009, 10:09 PM   #12
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I can afford the car, and there will be nothing stopping from getting it, I just dont want to get ripped off. I checked carmax, but the closest store is 4 hours away in Jacksonville.
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2SS/RS-CGM-Black Rally-20'' Polished MagnaFlow Comp Exh


1100, Preliminary order accepted: 5/27/09
2000, Order accepted by GM:07/30/09
3000, Order accepted by production control:08/05/09 TPW 08/24/09
3300, Order scheduled for production:08/20/09
3400, Order broadcast:08/24/09
3800, Order produced:08/27/09 2G1FK1EJ6A9141778
6000, Delivered to the customer:09/22/09
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Old 09-09-2009, 10:09 PM   #13
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Sell it yourself. I have to sell two Mustangs to get my Camaro. I already sold one of them. The second one is turning out to be a little harder to sell. I've taken it for granted that my dealer ain't gonna give me jack doo-doo on my trade in. They could prove me wrong, but I doubt it so we didn't even discuss trade-in when I ordered my car.
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Old 09-09-2009, 10:14 PM   #14
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I got lucky. My dealer came at us with blue book on my trade in for the first offer. Of course, that was the 3rd car we had bought from them this spring/summer. Plus we got the camaro at MSRP.
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