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Old 01-13-2010, 06:28 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, 06:31 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, 06:32 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, 06:41 PM   #4
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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, 06:59 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, 07:04 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, 07:07 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, 07:11 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, 07:21 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, 08:33 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, 08:46 PM   #11
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If you owed nothing, would it be worth that?
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Old 01-13-2010, 10:03 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, 10:05 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, 10:13 PM   #14
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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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Old 01-13-2010, 11:53 PM   #15
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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.
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.
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Old 01-14-2010, 03:56 PM   #16
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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.
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.
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Old 01-14-2010, 10:01 PM   #17
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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
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Old 01-15-2010, 12:26 AM   #18
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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!
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Old 01-15-2010, 03:52 AM   #19
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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.
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Old 01-15-2010, 05:40 AM   #20
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does my ass count?
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Old 01-15-2010, 07:01 AM   #21
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does my ass count?
Beg your pardon?
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Old 01-17-2010, 12:31 AM   #22
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Beg your pardon?
after looking at the payments that all i could offer
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Old 01-17-2010, 06:53 AM   #23
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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.
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Old 01-17-2010, 07:43 AM   #24
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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!
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Old 01-17-2010, 10:14 AM   #25
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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.
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