Dealership wanting to buy my car??

[kevinw]

its ALLY financing now. the dealers want to flatter you about how in demand your car is to get you to buy new and then you have more pmts and more sales tax. keep what you got , its low mileage and will last you a long time

[Bonanza7]

Originally Posted by amyroxs

Hey guys! Long time no see . Well I am moving to San Diego soon and decided to take my camaro to the dealership to get some work done. Anyways, the day after I went to the dealership I received a phone call. They stated they have a buyer interested in a 2010 camaro with less than 30,000 miles and stated that they can give me a new model camaro for around the same monthly payments I am paying now. I have a 2010 LT w/cc package with around 23,200 miles. I told them I was not interested. I am curious if anyone here have came across the same type of offer from their dealerships?

Typical dealer bull. Mine sent me a letter saying I was "eligible" to trade mine in. After saying he had a need for it a few months earlier. Eligible to trade in? What kind of bs is that? Just want to get you in to get you to buy for "just a few dollars more per month" plus a rate hike, plus fees, plus a balloon payment, and oh, yeah, we forgot to tell you that your new car fell off the truck in transit. Fixed just like new.

[Shortbus]

Originally Posted by Nemo13

Haha... sales ploy... I just stated my example that the dealer gave me 22k for my 1lt, which I s 2k OVER the blue book value. It all depends on what your car is worth and what you still owe. It is a great deal for some, not so great for others, so it is a disservice to blindly give bad advice to someone and call it is 'sales ploy' unless you know what is involved in a particular situation. Of course sales is involved! The DO have to make a living. You just find out if it is good for you or not.

Trust me, they may have given you $2000 over what your car was worth in a trade, but that $2000 was definitely built into the sales price of your new car.

[L99CAMA2011]

Originally Posted by amyroxs

Hey guys! Long time no see . Well I am moving to San Diego soon and decided to take my camaro to the dealership to get some work done. Anyways, the day after I went to the dealership I received a phone call. They stated they have a buyer interested in a 2010 camaro with less than 30,000 miles and stated that they can give me a new model camaro for around the same monthly payments I am paying now. I have a 2010 LT w/cc package with around 23,200 miles. I told them I was not interested. I am curious if anyone here have came across the same type of offer from their dealerships?

I been getting that same call like 10 times a week for the last 3 months.

[chrome_gurl]

Total sales ploy. Must be the season for this at dealerships. Same thing happened to me this week.. And my boyfriend with his 2013 Tundra! Haha he only has 900 miles on it. Dorks.

[CamaroBody]

So the dealer just wanted to buy your car at a low price and then sell you a brand new car for a profit on both cars. You do realize you would be paying tax and interest on a new vehicle right? Choose another dealer, they are trying to take advantage of you.

[camarozzzz]

I got this same offer. Got a letter in the mail after getting an oil change that they had inspected my car and it was in amazing condition and they wanted it for their used lot. They even offered me "$2000" more than average dealer trade in would be. Told me I could pick any car on the lot to trade into, or another Camaro of newer year.

Whole thing seemed like just getting me sucked in to pay more payments to them. I had my car 100% paid off. Why would I want to go in and set up more payments on a newer model when I am perfectly happy with what I have. Talked to a few people - general message was they want to get you hooked making payments to them longer etc.

Long story short - dealer always wins.

[Grimlock]

I got the call too. I said why not, if they'll play ball on getting me into a 2SSRS or 1LE for similar payments, I can deal with it. I guess they took a look at it and did not like the mods one bit. They asked me to turn it back to stock and they can properly evaluate it. I never went back lol. Thought it would've been impossible, I would not have settled for less than $25k for my car.

[Nemo13]

Originally Posted by Shortbus

Trust me, they may have given you $2000 over what your car was worth in a trade, but that $2000 was definitely built into the sales price of your new car.

Um, I can add? I had all the numbers and there were no surprises. I didn't just buy, I went home, looked at the numbers, and went back after I made sure it was all good in a few days. I knew what the car was worth and I got more. For you guys looking for a scam or a ploy, you simply can't do math or don't have any facts.

Let me put it this way, my friend who has a 2012 2LT RS bought his right after me, has the same miles, and about the same amount paid off. But when he contacted them to possibly trade up, even with a better % he could only get the same deal as me. And then you go huh? WHY?! It's a better car! Well, no, mine has more EQUITY because I have more paid off. He still owes 26k, I owed $17k. His 2lt RS costs more.

Its the same car, but his is one up and a RS. So basically after a year, all those options and xtras DROP. It's the same car, same engine, etc. I had more equity, so it made sense for me to upgrade, not for him.

If you do not understand how or why that works, you are usually the ones who scream "SCAM!!" SALES PLOY!!"

So before giving advice, make sure it is good advice not just what you think is true. And again, if they made nothing in the deal, why bother? Hmm? There are plenty of ways to calc a new car with trade in or a new car with $$ you have for selling you car and compare. You get a few thousand xtra selling yourself, etc. My final price was as expected, my bank gave me a great %, everything is good and I am again in a new car.

Oh, and financing through GM? The same as any. Some banks are better than others. I went through my credit union because it was a little better on the %. Shop around, but as always, your credit makes a big diff and not everyone will work with just ok credit, so GM may be the best option.

[PalmerGA]

Originally Posted by Nemo13

If you do not understand how or why that works, you are usually the ones who scream "SCAM!!" SALES PLOY!!"

I never said "scam" and my reference to "sales ploy" (and I wasn't "screaming") was regarding several letters I have received from my local Honda dealer where I bought a brand new '07 Civic (in '07). The letter flatly states (paraphrasing) 'We need your car and may be able to give you what you paid for it'. Mind you, this was as recent as this past May - six years after I bought the car. So out of curiosity, I get my magnifying glass out and read the "conditions" for 100% purchase price buy-back. It basically boiled down to if I had less than 1,000 miles on the car AND I applied the buy-back price to the purchase of a new Honda... they may allow me 100% of my purchase price in trade.

Now, I think even an expert negotiator and mathematician such as yourself might be able to say "sales ploy" on this one.

In a case like amyroxs's, where the dealer claims they can put her in a 2014 Camaro for the same monthly payment if she gives them her four year old LT w/ 23K miles on it... I think it is quite obvious that they are talking about hooking her into at least a 60 month (and more likely a 72 month) auto loan. Thatis a money maker for them/GM/the financial institution/etc, and that is what they do.

Is it a "scam"?
scam; noun 1. a dishonest scheme; a fraud

No - they can get her in a new Camaro for the same monthly payment.

Is it a "sales ploy"?
ploy; noun 1. a cunning plan or action designed to turn a situation to one's own advantage.

Absolutely. One of the better ones and it's all based on sales statistics. Most new car buyers only keep their car 3 - 5 years and then trade up to a new one. Amyroxs is right in the zone they are looking for and her car is at the coveted 'less than 7,500 miles per year'.

So it isn't a scam but, they aren't making her the offer just to be nice guys (or gals). They will make out very well if she does the deal, which they are certainly entitled to do - it's their business. She'll just have five or six more years of car payments (minimum).

[Yellow Camaro]

So interesting all the trolls that cry "scam", lol

I make a ton of these calls professionally, and in many instances the car held it's value really well, can be stacked with lower interest rates and Owner Loyalty Incentives, and start the clock over on the warranty. It's often a great opportunity to get the facelifted model, or additional new features.

[Biscuitpie]

Might as well lease a car if you're never gonna stop making payments.

[Yellow Camaro]

Originally Posted by Biscuitpie

Might as well lease a car if you're never gonna stop making payments.

Most people in the kind of price class car of the 5th gen, are accustomed to the lifestyle of making payments to have the latest and greatest. The difference between financing and refreshing before the payments are up, versus just leasing...are that you have the control over the timeframe you want to make your move, sometimes the cost of money (interest) is actually lower, and you don't have to think about your mileage. Plus, some cars flat out don't have good leasing programs....

[Biscuitpie]

Originally Posted by Yellow Camaro

Most people in the kind of price class car of the 5th gen, are accustomed to the lifestyle of making payments to have the latest and greatest. The difference between financing and refreshing before the payments are up, versus just leasing...are that you have the control over the timeframe you want to make your move, sometimes the cost of money (interest) is actually lower, and you don't have to think about your mileage. Plus, some cars flat out don't have good leasing programs....

My father and brother are both in charge of finance at car dealerships. I've been around them and in dealers my whole life, it's put the bread on my table. Trust me, their #1 goal is to get the most money out of you possible. If you're getting a good deal, it's because you haggled and they are desperate to phase out old inventory or meet monthly goals. They will never offer you anything worthwhile over a phone call. Also, you say "price class of the 5th gen". You do realize the average new car price in the US is over $30k now, right? There's no lavish "lifestyle" that should be associated with the car. But that's just my opinion, which in the end is worth about 2 cents.