Anyone using a trade in when getting your camaro? - Page 2 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

littlecammi · 10-19-2008, 02:22 AM

Quote:

Originally Posted by Ry4nVan

I currently have a Toyota Tacoma. I have a lease for the truck, but the bank said that I either have to trade in the car and take on the remaining amount, or try to sell it. I got this information from calling the bank that owns the vehicle. This doesn't make sense to me. This was the point of me leasing it. I wanted to be able to trade it back in whenever and pay a small fee. Not worry about trying to sell it, especially when I didn't get a loan.

How long do you have to go on the lease? My understanding is you have to keep it the full length of the lease in order to turn it in without obligations (other than charges for excessive mileage or any damage to the vehicle). The only (rare) exception I have seen to this is a dealer allowing early lease termination if the customer takes on a new lease of another model of that same brand of car. But even that is only available during special lease offers.

bigwil96786 · 10-19-2008, 03:47 AM

i will be trading in a 2007 jeep wrangler unlimited x with between 8000 and 9000 miles on it. i'm stuck in iraq until may of 2009 so hopefully dealers in my area are done trying to rape the public on prices by then.

dvnt88 · 10-19-2008, 09:37 AM

Quote:

Originally Posted by nickspohn

selling my current camaro and using it as a down payment for a new camaro.

+1. ")

Mr_Draco · 10-19-2008, 10:10 AM

Quote:

Originally Posted by GM4LIFE

i checked kelly blue book and nada and both dont have a 08 g5 gt in their systems yet anyone know what i could even sell my car for i was thinkin maybe $15,500 is that not enough or to much. the car looks like it did when i took it off the lot, i even kept some stuff in plastic.

I looked around online and seen similar cars like yours going for $14-$15k but all have a lot less miles on them then yours (under 10k miles). With you car being classified as a high mileage car I can see $10k being about right.

erasedgod · 10-19-2008, 12:27 PM

Sig

Crowley · 10-19-2008, 01:02 PM

I'll be selling the car I have now .. If I can't then I will trade it in .. however, it will never be as good of a deal as selling it ..

Crowley

fastfret7 · 10-19-2008, 01:43 PM

Start saving now for a big down payment, because unless you have God's credit your going to be denied....Well, that's what I've heard anyway.

EllwynX · 10-19-2008, 02:52 PM

'05 Aveo LT Sedan w/less than 30,000 miles will most likely be traded in.

I'm guessing I'll only get enough to pay it off though. It won't be a down payment. I should have at least $15,000 in cash for that.

Tantalizer43 · 10-19-2008, 02:56 PM

I'm going to keep the current ride as my "daily driver". That will basically equate to winter and rain only. I'm gonna drive the shit out of my Camaro, but no rain, or snow. Ever...

GM4LIFE · 10-19-2008, 02:58 PM

Quote:

Originally Posted by Mr_Draco

I looked around online and seen similar cars like yours going for $14-$15k but all have a lot less miles on them then yours (under 10k miles). With you car being classified as a high mileage car I can see $10k being about right.

ok cool thanks for checking that out for me

69 Hugger · 10-19-2008, 03:35 PM

Just for kicks my buddy said I should take my 69 up and ask what they give me on a trade in. never have traded one in.

cars and trucks Ive owned/own
1976 Chevy Luv Pickup
1978 Chevy Z=28
1984 Chevy S-10
1986 Chevy Z-28
1989 Chevy S-10
1994 Chevy Impala
1998 Chevy Siverado-Still own
1969 Chevy Camaro Convertible-Still own

InventoryGuy · 10-19-2008, 09:28 PM

Quote:

Originally Posted by RallyFever

Never trade in a vehicle if you can help it.
Sell your vehicle privately prior to the arrival of your Camaro.
You'll get more for your card; MSRP or less on the Camaro.

You need to remove the cards from the dealer's hands.....

it all depends......... stop speakiing from prejudice

If you are in a state that taxes off trade differnece then trading is often a better option.

Example: Buying a 31k Camaro with a 8k trade. Trade differnence of 23k. If you have a sales tax of 8%, that means you would have to sell your trade for about 8700 to break even with the overall value. Then take into effect the added grief and exposure of you selling on your own. Did you know that if someone is driving your car on a test drive as an individual and gets in an accident you are responsible?

Basically take the whole picture in when you are doing the deal. And always look at the total drive out price when purchasing, that wil linclude all fees and tax savings and that will tell you the best overall way to go. But is dealing with an upfront dealership worth a few hundred more? Up to you to decide.

Silverghost · 10-19-2008, 09:46 PM

Quote:

Originally Posted by InventoryGuy

it all depends......... stop speakiing from prejudice

If you are in a state that taxes off trade differnece then trading is often a better option.

Example: Buying a 31k Camaro with a 8k trade. Trade differnence of 23k. If you have a sales tax of 8%, that means you would have to sell your trade for about 8700 to break even with the overall value. Then take into effect the added grief and exposure of you selling on your own. Did you know that if someone is driving your car on a test drive as an individual and gets in an accident you are responsible?

Basically take the whole picture in when you are doing the deal. And always look at the total drive out price when purchasing, that wil linclude all fees and tax savings and that will tell you the best overall way to go. But is dealing with an upfront dealership worth a few hundred more? Up to you to decide.

This coming from a man whos income is based off this and is biased, sell your car yourself, you will ALWAYS come out better than the dealer can do for you, ALWAYS.

mcernik · 10-20-2008, 03:42 PM

I ordered my Camaro on Saturday. I through out feelers to all the dealers in the area to find out what they were going to be charging, most came back with MSRP. So the real question was who would give me the most for my trade in.

Yes there are sales tax implications. When you trade in a car that comes off the sales price that gets taxed (at least in Wisconsin). So I had the option

A. Wait till the car came in and then trade in mine. After seeing the Camaro, I would probably take peanuts for my trade just to drive off in it) and it would be 6 months older and worth less.

B. Take cash for the trade in and just put down the deposit. If I did that and came back it would be like I was putting a down payment on it and would have had to pay an extra $900 in sales tax.

C. Get a price for my trade in, give them the car now. ( I went with this option, I got a fair price for the car, dont have to worry about selling it myself in this crumby economy, I get the sales tax break, and I can drop the insurance on the car for the next 6 months)

The car was going to be in storage till April anyway so I'm not really out anything.

10-19-2008, 12:27 PM	#19
erasedgod CGM 2SS/RS Drives: # 9641 Join Date: Sep 2008 Location: New Bern, NC Posts: 426 View My Garage	Sig __________________

10-19-2008, 01:02 PM	#20
Crowley Okie doke Drives: 2012 GT500 Join Date: Sep 2008 Location: McKinney Texas Posts: 3,567 View My Garage	I'll be selling the car I have now .. If I can't then I will trade it in .. however, it will never be as good of a deal as selling it .. Crowley __________________

10-19-2008, 01:43 PM	#21
fastfret7 Drives: 2003 Ford Focus SVT EAP Join Date: Sep 2008 Location: Ashburn,VA Posts: 298	Start saving now for a big down payment, because unless you have God's credit your going to be denied....Well, that's what I've heard anyway. __________________ Heroes will be remembered, but legends will never die!! -The Sandlot...I know In my garage: 2003 Ford Focus SVT EAP in Infa-red 1 of 101 1970 EL Camino 454 SS w/ 4 speed muncie Red w/ Blk stripes 2010 2SS/RS Camaro w/hurst 6 spd in black on black w/red rally stripes

10-19-2008, 02:56 PM	#23
Tantalizer43 Drives: 2010 Camaro SS/RS Join Date: Aug 2008 Location: Cincinnati OH Posts: 1,359	I'm going to keep the current ride as my "daily driver". That will basically equate to winter and rain only. I'm gonna drive the shit out of my Camaro, but no rain, or snow. Ever... __________________

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10-19-2008, 03:47 AM	#16
bigwil96786 Drives: 2007 jeep unlimited x Join Date: Oct 2008 Location: iraq for now Posts: 12	i will be trading in a 2007 jeep wrangler unlimited x with between 8000 and 9000 miles on it. i'm stuck in iraq until may of 2009 so hopefully dealers in my area are done trying to rape the public on prices by then.

10-19-2008, 02:52 PM	#22
EllwynX Drives: 2010 Camaro SS Join Date: May 2006 Location: Southern NJ Posts: 2,259	'05 Aveo LT Sedan w/less than 30,000 miles will most likely be traded in. I'm guessing I'll only get enough to pay it off though. It won't be a down payment. I should have at least $15,000 in cash for that.

10-19-2008, 03:35 PM	#25
69 Hugger Drives: 69 Convertible Camaro Join Date: Sep 2008 Location: Sumit Point, WV Posts: 941 View My Garage	Just for kicks my buddy said I should take my 69 up and ask what they give me on a trade in. never have traded one in. cars and trucks Ive owned/own 1976 Chevy Luv Pickup 1978 Chevy Z=28 1984 Chevy S-10 1986 Chevy Z-28 1989 Chevy S-10 1994 Chevy Impala 1998 Chevy Siverado-Still own 1969 Chevy Camaro Convertible-Still own

10-20-2008, 03:42 PM	#28
mcernik Drives: Rally Yellow SS/RS VIN # 3931 Join Date: Oct 2008 Location: Richfield, Wisconsin Posts: 151	I ordered my Camaro on Saturday. I through out feelers to all the dealers in the area to find out what they were going to be charging, most came back with MSRP. So the real question was who would give me the most for my trade in. Yes there are sales tax implications. When you trade in a car that comes off the sales price that gets taxed (at least in Wisconsin). So I had the option A. Wait till the car came in and then trade in mine. After seeing the Camaro, I would probably take peanuts for my trade just to drive off in it) and it would be 6 months older and worth less. B. Take cash for the trade in and just put down the deposit. If I did that and came back it would be like I was putting a down payment on it and would have had to pay an extra $900 in sales tax. C. Get a price for my trade in, give them the car now. ( I went with this option, I got a fair price for the car, dont have to worry about selling it myself in this crumby economy, I get the sales tax break, and I can drop the insurance on the car for the next 6 months) The car was going to be in storage till April anyway so I'm not really out anything.