If you traded something in and still owed - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Jiu Jitsu Jon · 01-13-2010, 05:28 PM

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.

coolman · 01-13-2010, 05:31 PM

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.

Scrappy Doo · 01-13-2010, 05:32 PM

try selling it yourself. That will make up a few grand for ya.

BackinBlackSS/RS · 01-13-2010, 05:41 PM

Quote:

Originally Posted by Jiu Jitsu Jon

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.

coolman · 01-13-2010, 05:59 PM

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 .

Jiu Jitsu Jon · 01-13-2010, 06:04 PM

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.

BackinBlackSS/RS · 01-13-2010, 06:07 PM

Quote:

Originally Posted by Jiu Jitsu Jon

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.

coolman · 01-13-2010, 06:11 PM

Quote:

Originally Posted by Jiu Jitsu Jon

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.

Musclebee · 01-13-2010, 06:21 PM

Try to sell it out right then go by the Camaro I am sure someone would want to buy the GTO.

CRYMFTR265 · 01-13-2010, 07:33 PM

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.

NUCAR · 01-13-2010, 07:46 PM

If you owed nothing, would it be worth that?

Scrappy Doo · 01-13-2010, 09:03 PM

There are people trying to sell cars like yours for 20k around here. They have been for sale for a year......

coolman · 01-13-2010, 09:05 PM

Quote:

Originally Posted by NUCAR

If you owed nothing, would it be worth that?

What you owe has nothing to due with what it's worth.

Mr_Draco · 01-13-2010, 09:13 PM

Quote:

Originally Posted by Jiu Jitsu Jon

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.

01-13-2010, 05:28 PM	#1
Jiu Jitsu Jon East bound and down Drives: 2005 Cyclone Grey GTO (M6) Join Date: Apr 2008 Location: Springfield, MO Posts: 406	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. __________________ BITCHIN' CAMARO, BITCHIN' CAMARO!

01-13-2010, 06:04 PM	#6
Jiu Jitsu Jon East bound and down Drives: 2005 Cyclone Grey GTO (M6) Join Date: Apr 2008 Location: Springfield, MO Posts: 406	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. __________________ BITCHIN' CAMARO, BITCHIN' CAMARO!

01-13-2010, 06:21 PM	#9
Musclebee Drives: 2010 2SS RS Delivered on 4/23 Join Date: Apr 2009 Location: Ohio Posts: 232 View My Garage	Try to sell it out right then go by the Camaro I am sure someone would want to buy the GTO. __________________

01-13-2010, 05:31 PM	#2
coolman Guest Join Date: Jun 2009 Location: PA Posts: 4,812	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.

01-13-2010, 05:32 PM	#3
Scrappy Doo Drives: Callaway Rogue Join Date: Jul 2009 Location: W8n 4 Snow, Minnesota Posts: 4,738	try selling it yourself. That will make up a few grand for ya.

01-13-2010, 05:59 PM	#5
coolman Guest Join Date: Jun 2009 Location: PA Posts: 4,812	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 .

01-13-2010, 07:33 PM	#10
CRYMFTR265 Semper Fidelis Drives: 2010 Victory Red Camaro 2SS\RS Join Date: Oct 2009 Location: Joliet IL Posts: 54	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.

01-13-2010, 07:46 PM	#11
NUCAR Drives: 68 big block Join Date: Oct 2008 Location: tossed off see ya Posts: 400	If you owed nothing, would it be worth that?

01-13-2010, 09:03 PM	#12
Scrappy Doo Drives: Callaway Rogue Join Date: Jul 2009 Location: W8n 4 Snow, Minnesota Posts: 4,738	There are people trying to sell cars like yours for 20k around here. They have been for sale for a year......