Realistically, could I get more for my Camaro?

[v6]

Hello guys... I have a huge dilemma here that I need to decide on soon.
I bought my brand new 2012 Camaro when I was 18 years old. Now, 5 years later, it has 93k miles on it and is still in good condition, other than the mileage. I have officially decided to sell the vehicle.
I am planning on selling my Camaro and buying a 2014 Subaru Impreza Sport Wagon with 24k miles for $18,000. Perfect condition, its a beauty.

So my dilemma is... should I try and sell the car privately and take ~$13,500 for my Camaro from a private buyer, OR should I trade the vehicle in and get $11,000 for it and use that money for towards the Impreza? The problem i'm having is that I'm not 100% sure I could ever sell it for more privately. It may be possible, but it could take a long time, and by the time I sell it, my car will have well over 100k miles and the PERFECT Impreza will be off the lot.
If I trade my vehicle in and lose maybe 1-2k I will have a secured deal and will for sure get the Impreza I want.

If you're curious about why I'm trading my Camaro for a Subaru, it is because I have found the Camaro to be rather useless for my lifestyle (outdoorsy, adventurous)... A Subaru is perfect for my desired lifestyle. I need something I can comfortable take to the snow or to the mountains. Please don't try and suggest any other vehicles as I have my heart set on this model.

Here is the link to my Camaro http://chico.craigslist.org/cto/5934148098.html
And the KBB for my specific car https://www.kbb.com/chevrolet/camaro...tion=very-good

Thank you!!

[redcoats1976]

if you truly want this perfect impreza you better get down there and do the deal.i probably could have gotten al more for the car i traded in on my camaro,but i got the perfect camaro...would it hurt to offer less on the impreza,act indecisive and walk away.they will call and counteroffer or ask what they can do to seal the deal.

[SS Blinder]

Not sure how california works on vehicle taxes, so you have to look that up.
In texas, you pay 6.25% on what you pay for the vehicle, so paying 18k, the taxes will be $1125. If you trade in camaro at 11k, then you pay taxes on the remainder, so on 7k, it would be $437.5. difference of $687.5. So 13500-11000=$2500 difference from private sale to trade in. 2.5K-687.5=1812.5. So you stand to make $1812 more if you sell privately for KBB valve of $13500. Now is $1800 worth it to you, to put up with private selling, title transfer, CA DMV, etc... Thats what you have to think about.

PS not sure how putting money down affects all this, so you'll have to look that up as well. Good luck

[TwistedCamaro]

First of all , I'm assuming its a v6? why is it worth so little?

That makes me wonder how much by 2010 SS is worth and how much would someone pay for it.

Sell it to a private buyer and take as much money as you can. More subarus will come around.

[v6]

Originally Posted by TwistedCamaro

First of all , I'm assuming its a v6? why is it worth so little?

That makes me wonder how much by 2010 SS is worth and how much would someone pay for it.

Sell it to a private buyer and take as much money as you can. More subarus will come around.

it is a v6 but it's the high miles that are bringing the value down

[v6]

Originally Posted by redcoats1976

if you truly want this perfect impreza you better get down there and do the deal.i probably could have gotten al more for the car i traded in on my camaro,but i got the perfect camaro...would it hurt to offer less on the impreza,act indecisive and walk away.they will call and counteroffer or ask what they can do to seal the deal.

Agreed, I appreciate the response. They were REALLY trying to get me to buy it and almost were willing to give me 12k for my car and sell the Impreza for 17k. But I walked away and told them maybe i'll come back tomorrow. But now, i'm gonna use the offer I got on my private sale as leverage to get them to come down on price.

I'm going to say "I have someone offering 14k for my car, but since i'm here now, how about you just give me the deal I want and you get to make the sale you need, or, I'll walk away and sell it and not get the car." I think that would get them to give me what I want.

[v6]

Originally Posted by SS Blinder

Not sure how california works on vehicle taxes, so you have to look that up.
In texas, you pay 6.25% on what you pay for the vehicle, so paying 18k, the taxes will be $1125. If you trade in camaro at 11k, then you pay taxes on the remainder, so on 7k, it would be $437.5. difference of $687.5. So 13500-11000=$2500 difference from private sale to trade in. 2.5K-687.5=1812.5. So you stand to make $1812 more if you sell privately for KBB valve of $13500. Now is $1800 worth it to you, to put up with private selling, title transfer, CA DMV, etc... Thats what you have to think about.

PS not sure how putting money down affects all this, so you'll have to look that up as well. Good luck

Thanks for doing the math! Haha. I really don't think the $1800 difference is that big of a deal to me. I'd rather get the car I want now than wait and have my car lose more value and lose the car I want. Thanks for the advice.

[onegoofydad]

Let me offer some advice. A couple things to remember. Focus on how the numbers work for you forget how much crap the sales man is yacking at the gums about. They are experts in buying low and selling high, remember they do this everyday. You only do it once every few years.
They will make money on the front side and backside of this purchase. Being nearly the end of the month Banks are going to offer them better interest rate spreads. For instance you will be offered a loan (assuming you are getting a loan from them) at 6% interest. However, the offer from the bank came in at 4.25% you just didn't know that. The dealership has effectively increased the interest rate to get a performance kickback from the bank. The warranties, GAP, etc are all marked up almost 200% in some cases. Negotiate those at the table, and do not finance them in the loan if you can. No reason to finance a warranty into a loan, that just attributes to future upside down issues.

I highly recommend working this deal through a credit union or a local bank if you can. For instance my credit union here in Georgia offers GAP for $299, no matter how much the car no matter how much the loan. Warranties go for 599. Huge difference off the dealership prices.

I have bought, swapped, traded, and purchased 17 vehicles since I was 16 (35 now). Some were cash deals, some were financed, some were beater cars for work A to B.
I've been in your shoes, wanted a car so bad...didn't want to wait for a private sale. In fact I pulled the trigger on that a couple of times. A couple months later I wished I had gained that extra couple of grand.

But they are in bargaining moods right now, they want to move car's before the new year starts. Just remember all the places they will and can make money when negotiating your deal. Dealer DOC Fees, Interest Rate Spread, Warranties, GAP, Excessive Title Paperwork Fees, and last but not least giving you rock bottom for your trade.

P.S.- If they ask what you want your monthly payment to be tell them it doesn't matter and stick to that story. Tell them to show you their best offer, you'll let them know if its agreeable. Otherwise, they will work those interest numbers, # of payments, and other attributes to meet that number you stated.

P.S.S.- You might already know all of this. Just my Father coming out in me.

[O.F.]

You will always be better off financially buying a car without a trade. Selling a car privately leaves you with liability or at least some responsibility if it blows up next week while trading it relieves you of the headache if it were to happen. What's that worth? Your call.

Edit - On the other hand, offer them $15K cash for your Subi and see how fast they jump. You might be surprised.

[BehindBlueI's]

It becomes a matter of convenience. The dealer is not going to give you more than they can wholesale the car for, although they may make it appear they are by adjusting the price on the Subaru. In short, if they will give you $2k extra for your car, they would have come down $2k on the Subaru if you didn't have a trade. *If* you're a repeat customer and have a relationship with a decent dealer, they may sweeten the deal a small amount to keep you happy and coming back, but it's not going to be thousands of dollars.

In exchange for taking less money, you gain:
1) Security. No worries about a forged money order, no worries about being robbed by a potential "customer", no worries about some yahoo wrecking your car on a test drive.

2) Lack of liability. No worries the new guy doesn't change the registration immediately, doesn't blow the car up and come after you in small claims court, etc.

3) Sales tax savings, and potentially a credit on registration and license plates (state dependent)

4) Convenience of not having to advertise, deal with tire kickers, arrange meetings to show the car, arrange meetings to accept payment in a safe environment, etc.

I've done both private and trade in, and my general rules is anything less than $2k is not worth the hassle of private sale. I am to the point in life where time and convenience is pretty highly valued.

[1Coopgt]

Originally Posted by TwistedCamaro

First of all , I'm assuming its a v6? why is it worth so little?

That makes me wonder how much by 2010 SS is worth and how much would someone pay for it.

Sell it to a private buyer and take as much money as you can. More subarus will come around.

His Mileage on the car is what is kicking his butt .

OP asking 15k you're right it may take a while to sell it . If you priced it at 13k to 13.5k you would probably sell it quicker and you would still get more than the dealer will give you.

[IOMCamaroSS]

Camaro for a Subaru... and a boring Subaru at that. meh

Being that yours has the 45th package, I would think you could get a decent amount more privately than what the dealer would offer you. Maybe not $15k but certainly more than 11.

[Mr. Stacy]

Selling a vehicle takes time, effort and a bit of stress. Anxiousness, loss of sleep and other digestive issues can result. You may even be tempted to sell it to an friend or relative, which might seem easier, but it usually turns out bad.

If the extra 2-3 grand you'll make selling it privately is worth it, then do it. But it's not for everybody. I gave up about 5K in value of my last vehicle just to avoid the hassle.

JMHO, YMMV

[flipstyledsm22]

Originally Posted by onegoofydad

Let me offer some advice. A couple things to remember. Focus on how the numbers work for you forget how much crap the sales man is yacking at the gums about. They are experts in buying low and selling high, remember they do this everyday. You only do it once every few years.
They will make money on the front side and backside of this purchase. Being nearly the end of the month Banks are going to offer them better interest rate spreads. For instance you will be offered a loan (assuming you are getting a loan from them) at 6% interest. However, the offer from the bank came in at 4.25% you just didn't know that. The dealership has effectively increased the interest rate to get a performance kickback from the bank. The warranties, GAP, etc are all marked up almost 200% in some cases. Negotiate those at the table, and do not finance them in the loan if you can. No reason to finance a warranty into a loan, that just attributes to future upside down issues.

I highly recommend working this deal through a credit union or a local bank if you can. For instance my credit union here in Georgia offers GAP for $299, no matter how much the car no matter how much the loan. Warranties go for 599. Huge difference off the dealership prices.

I have bought, swapped, traded, and purchased 17 vehicles since I was 16 (35 now). Some were cash deals, some were financed, some were beater cars for work A to B.
I've been in your shoes, wanted a car so bad...didn't want to wait for a private sale. In fact I pulled the trigger on that a couple of times. A couple months later I wished I had gained that extra couple of grand.

But they are in bargaining moods right now, they want to move car's before the new year starts. Just remember all the places they will and can make money when negotiating your deal. Dealer DOC Fees, Interest Rate Spread, Warranties, GAP, Excessive Title Paperwork Fees, and last but not least giving you rock bottom for your trade.

P.S.- If they ask what you want your monthly payment to be tell them it doesn't matter and stick to that story. Tell them to show you their best offer, you'll let them know if its agreeable. Otherwise, they will work those interest numbers, # of payments, and other attributes to meet that number you stated.

P.S.S.- You might already know all of this. Just my Father coming out in me.

Good Stuff!!!