If you traded something in and still owed - Page 2 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

garagelogic · 01-13-2010, 10:53 PM

Quote:

Originally Posted by Jiu Jitsu Jon

That's what dealers would like to give you for your car so they can resell for a profit. I don't know of any dealers around here that would sell my car for only 12K. I do know of one that is selling '06s with similar mileage in the 20-21K range.

Like others have said, your dreaming if you think you're going to get 18K out of a 2005 GTO, let alone anywhere near that on a trade-in.

I don't mean to rain on your parade, but there's not much chance of you making the kind of deal you are looking for.

Musclebee · 01-14-2010, 02:56 PM

Quote:

Originally Posted by CRYMFTR265

I sold my 2005 GTO to Carmax March of 2009 in anticipation of ordering my Camaro in October. I got $15,000.00 for it with only 14000 miles on it, a sunny day driver only and in mint condition. I was able to pay of my car loan atleast and buy my Camaro. Sure I lost all the money I paid on the car but I got the car I really wanted.

That's great did not know you already sold it, you will love the Camaro. My daugther and husband both have a 2004 GTO and they love it, it is a good car also.

JMM1181 · 01-14-2010, 09:01 PM

you have a great car, sure the Camaro is the newest and best but you should be reasonable about the situation and recognize that what you're driving isn't half bad. Try to save up a little bit of money and throw extra towards your loan payment whenever possible to get it down, then try to sell it on autotrader or in a personals. The Camaro should hopefully even go down in price by the time you get yourself situated

20101LTRSCG · 01-14-2010, 11:26 PM

Quote:

Originally Posted by JMM1181

you have a great car, sure the Camaro is the newest and best but you should be reasonable about the situation and recognize that what you're driving isn't half bad. Try to save up a little bit of money and throw extra towards your loan payment whenever possible to get it down, then try to sell it on autotrader or in a personals. The Camaro should hopefully even go down in price by the time you get yourself situated

Hate to throw bad news but price of Camaro's went up Jan 4th! I don't think they will be going down any time soon. Supply and demand. GM is having a hard time keeping up and as the article on the homepage points out they are not increasing production hours!

As far as the GTO is concerned. I am selling my car and going to be negative but I really want the camaro and am willing to take the loss now to have the car of my dreams. By the way, if your credit is good the differnec can be rolled into the Camaro. If you are planning on keeping the Camaro then it isn't necessarily a total loss. Good luck!

Jiu Jitsu Jon · 01-15-2010, 02:52 AM

Quote:

Originally Posted by 20101LTRSCG

Hate to throw bad news but price of Camaro's went up Jan 4th! I don't think they will be going down any time soon. Supply and demand. GM is having a hard time keeping up and as the article on the homepage points out they are not increasing production hours!

As far as the GTO is concerned. I am selling my car and going to be negative but I really want the camaro and am willing to take the loss now to have the car of my dreams. By the way, if your credit is good the differnec can be rolled into the Camaro. If you are planning on keeping the Camaro then it isn't necessarily a total loss. Good luck!

I do have good credit, I bought a house a year ago. What do you mean by rolling the difference into the Camaro?

Thanks everyone for your input, I will most likely try and just sell it out right.

Z/28orSs · 01-15-2010, 04:40 AM

does my ass count?

Jiu Jitsu Jon · 01-15-2010, 06:01 AM

Quote:

Originally Posted by Z/28orSs

does my ass count?

Beg your pardon?

Z/28orSs · 01-16-2010, 11:31 PM

Quote:

Originally Posted by Jiu Jitsu Jon

Beg your pardon?

after looking at the payments that all i could offer

Mr_Draco · 01-17-2010, 05:53 AM

Quote:

Originally Posted by Jiu Jitsu Jon

What do you mean by rolling the difference into the Camaro?

Whenever you trade in a car that you owe more on then what they are willing to give you, that difference is added to the car you just bought. Let's say you owe $20k and the dealer is offering you $15k, $5k will be added to the cost of the car. The reason is that in order for the dealer to gain ownership of the vehicle, they have to pay off any liens on the title regardless of how much you owe.

Xmicro_SS · 01-17-2010, 06:43 AM

The used car market is tough for private sales right now.

Why would the dealer take a car at a loss or break even to make another sale. Dealers make about $1500-$2000 at sticker price on a Camaro SS. If they cannot make at least $2000, it does not pay for them to take a used car to resell for less. Especially at 20,000+ Miles if it needs brakes or more than likely, tires, etc. They need to sink money in to sell it, than forget it!

Sell Private, maybe $15K and satisfy the loan, then get a Camaro. Good Luck!

SGOS252382 · 01-17-2010, 09:14 AM

If your dealer really wants to make the deal, he may offer you 13-14k or so but that's about it.

GTO's are not in demand and the dealer wants to make a little profit. He will most likely try to sell your GTO for around 15k.

speedtrip · 01-17-2010, 09:52 AM

Don't do it. You will regret it. Please learn something from the 'current economic crisis'. Stop thinking about 'turning heads' or 'driving a SICK car' and get your finances in order. Don't think about the new payment, rather, think about how long it takes you to SAVE $5000 (not earn).

The Camaro will continue to be your dream car and that dream will come true someday.

01-15-2010, 04:40 AM	#20
Z/28orSs Drives: 2000 ss Join Date: Aug 2008 Location: Nj Posts: 678 View My Garage	does my ass count? __________________

01-17-2010, 06:43 AM	#24
Xmicro_SS Thank You GM Drives: Sky Redline & Camaro 2SS/RS Join Date: Mar 2009 Location: Las Vegas, NV Posts: 2,876	The used car market is tough for private sales right now. Why would the dealer take a car at a loss or break even to make another sale. Dealers make about $1500-$2000 at sticker price on a Camaro SS. If they cannot make at least $2000, it does not pay for them to take a used car to resell for less. Especially at 20,000+ Miles if it needs brakes or more than likely, tires, etc. They need to sink money in to sell it, than forget it! Sell Private, maybe $15K and satisfy the loan, then get a Camaro. Good Luck! __________________ ITS HERE! : 2010 Camaro 2SS / 6 Speed Manual (No other way) / Silver Ice Metallic / Inferno Orange Interior Accent / RS Package / Polished Wheels / SOLO MACH X CAT BACK

01-14-2010, 09:01 PM	#17
JMM1181 Drives: '07 350z Join Date: Jan 2009 Location: Massachusetts Posts: 139	you have a great car, sure the Camaro is the newest and best but you should be reasonable about the situation and recognize that what you're driving isn't half bad. Try to save up a little bit of money and throw extra towards your loan payment whenever possible to get it down, then try to sell it on autotrader or in a personals. The Camaro should hopefully even go down in price by the time you get yourself situated

01-17-2010, 09:14 AM	#25
SGOS252382 Drives: 2010 Camaro 2SS/RS Join Date: Mar 2008 Location: S.W. Florida Posts: 6,294	If your dealer really wants to make the deal, he may offer you 13-14k or so but that's about it. GTO's are not in demand and the dealer wants to make a little profit. He will most likely try to sell your GTO for around 15k.

01-17-2010, 09:52 AM	#26
speedtrip Drives: TriumphSpeedTriple, Ridgeline Join Date: Mar 2009 Location: St. Louis Posts: 30	Don't do it. You will regret it. Please learn something from the 'current economic crisis'. Stop thinking about 'turning heads' or 'driving a SICK car' and get your finances in order. Don't think about the new payment, rather, think about how long it takes you to SAVE $5000 (not earn). The Camaro will continue to be your dream car and that dream will come true someday.