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Old 01-13-2010, 05:28 PM   #1
Jiu Jitsu Jon
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If you traded something in and still owed

To those of you who traded in a vehicle that wasn't paid off, was the dealer able to at least give you pay-off? I owe about 18-19K on an '05 GTO, which I think is definitely doable if the salesman wants to make the sale enough. I HAVE to get at least pay-off. I cannot roll negative equity onto a new loan. The way I figure, even if the dealer sold my car and only broke even on it, they still sold me a Camaro.
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Old 01-13-2010, 05:31 PM   #2
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Go to kelly and see what the trade in valve is for your Goat. Your not going to get much off the sticker to make up the difference so you'll have to be under the trade in valve of you don't want to pay over msrp.
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Old 01-13-2010, 05:32 PM   #3
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try selling it yourself. That will make up a few grand for ya.
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Old 01-13-2010, 05:41 PM   #4
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Originally Posted by Jiu Jitsu Jon View Post
The way I figure, even if the dealer sold my car and only broke even on it, they still sold me a Camaro.
I hate to be negative here, but this is just not realistic. Not saying you can't get it done, and more power to you, but not likely. Good luck.
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Old 01-13-2010, 05:59 PM   #5
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Well bro, I just check the value of you car and it's only worth about $12,000. I don't think your going to get it done without down money .
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Old 01-13-2010, 06:04 PM   #6
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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.
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Old 01-13-2010, 06:07 PM   #7
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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.
That's how it works. 12k is trade in value, not retail. If trade in value is 12k and you owe 19k, the dealer is not gonna give you 18 or 19k.
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Old 01-13-2010, 06:11 PM   #8
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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.
No, that's the trade in price of the car and that's about all your going to get trading it on a camaro. They have to give you less so they can make money on it when they sell it. I dealer has to also put some money into a use car just to get it ready for resale. This all figures into trade in price. If you would sell it outright you might get closer. I know in my area I can by used on a lot for about 16 to 17. Tell me more about it. How many miles, condition, auto or manual, options.
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Old 01-13-2010, 06:21 PM   #9
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Try to sell it out right then go by the Camaro I am sure someone would want to buy the GTO.
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Old 01-13-2010, 07:33 PM   #10
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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.
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Old 01-13-2010, 07:46 PM   #11
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If you owed nothing, would it be worth that?
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Old 01-13-2010, 09:03 PM   #12
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There are people trying to sell cars like yours for 20k around here. They have been for sale for a year......
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Old 01-13-2010, 09:05 PM   #13
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If you owed nothing, would it be worth that?
What you owe has nothing to due with what it's worth.
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Old 01-13-2010, 09:13 PM   #14
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Originally Posted by Jiu Jitsu Jon View Post
To those of you who traded in a vehicle that wasn't paid off, was the dealer able to at least give you pay-off? I owe about 18-19K on an '05 GTO, which I think is definitely doable if the salesman wants to make the sale enough. I HAVE to get at least pay-off. I cannot roll negative equity onto a new loan. The way I figure, even if the dealer sold my car and only broke even on it, they still sold me a Camaro.
You are better off selling it yourself especially since you are upside down. You will get majorly screwed if you trade it in and you will be even more upside down on the Camaro purchase if you do.
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