Think twice before buying a camaro - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Sgtrod · 10-27-2015, 08:41 PM

I just went to inquire about buying a z28 and was made a rediculous offer on my 1LE.

I paid $47,500 for the car 11mo ago. It is fully loaded and a 2015. They offered me $28k !!!!

I know those rebates on the camaro right now make them attractive but dont buy unless it will be a keeper. You will be in a world of hurt when you want to trade up.

supergt99 · 10-27-2015, 08:45 PM

47.5 for a 1le?

Tonydig11 · 10-27-2015, 09:04 PM

It's called deprecation. You bought your 15 right when it came out so you paid top dollar. Now it's a year older. The dealer still needs to sit on your 15 before selling it. They need to make money on it too. They are a business. For shits and giggles a week after I got my 2ls I went to KBB and my trade in value was 10k less that I just paid a week ago.

Just a tip. If you buy a new car plan on keeping it some. Cars go down in value not up. 1le or not.

pickwithaustin · 10-27-2015, 09:07 PM

Who buys a vehicle new and then sells or trades it in 11 months later? You might as well play while blind folded in Las Vegas... :(

raptor5244 · 10-27-2015, 09:32 PM

I leased my 2013 2SS 1LE, loaded but no recaros in 2013. Msrp was was $43.5k. Bought it sept 2013 when the 2014s were just hitting the lots. The bank set the residual at $27k after 39 months assuming 12k miles per year. So, the bank is figuring my car will still be worth that money next November when the lease is up. Anyway, the trade in value they gave you on your car is obviously low but wanted to give you a point of reference. Personally, I think the real money on your car is ~$34k but with all the hype and performance of the new 2016 SS you will need to find someone who wants to spend that much money on a 5th gen.

KaBoom1701 · 10-27-2015, 09:40 PM

You over paid on your 1LE...sorry.

And Camaros are weak on resale value.....there are a ton of them out there right now.

I was lucky to get 22k for my 2LT V6 one year ago.

Joseph1LE · 10-27-2015, 09:45 PM

My 1LE stickered for $47k and I paid $35k for it.... Your mistake for paying top dollar for yours on a car you weren't going to want to keep long without thinking about depreciation. I do think the dealer low-balled you and that 30-33k would would have been more fair depending on how many miles you put on the car. KBB valued mine for dealer trade in at 32.5K (35K private party) and I have 7k miles on the car.

Angrybird 12 · 10-27-2015, 10:15 PM

Remember the larger the discount they give on the new car means your resale value goes down a similar ammount. Just common sense.

VTSummit · 10-28-2015, 09:48 AM

Who would buy yours used for top dollar when the new ones are being so heavily discounted?

HuJass · 10-28-2015, 10:15 AM

Remember, that's trade in.

You'd get a LOT more by selling it yourself.

I'll never understand why people trade. They claim for tax purposes.
But the money you save in taxes is far less than what you give up in sale price.
Makes no sense.

Or they're lazy and don't want to be bothered.

davethewave62 · 10-28-2015, 10:46 AM

Everything we buy depreciates, right after we leave and go home. Dealers do pay lower than an outright sale to a private buyer. Most people who want to trade at a dealer, do not want the hassle with private buyers.

But ...

I have come to find that after many years of buying / trading cars at dealerships, that if you are willing to be realistic in your asking price, they are most likely willing to negotiate better too. Some may lowball - so you leave and go elsewhere.

I look at it this way - when I buy a car, I receive an immediate pay back on my investment, Over time I am still receiving a return on my investment, because I am enjoying the vehicle. If you stop enjoying it - time to get rid of it. How you do that is up to you.

Snoman · 10-28-2015, 10:56 AM

Quote:

Originally Posted by Sgtrod

I just went to inquire about buying a z28 and was made a rediculous offer on my 1LE.

I paid $47,500 for the car 11mo ago. It is fully loaded and a 2015. They offered me $28k !!!!

I know those rebates on the camaro right now make them attractive but dont buy unless it will be a keeper. You will be in a world of hurt when you want to trade up.

$28k is a strong offer, especially from a dealer. The fact you paid a $10k premium for a 1LE is not relevant, regardless of the fact they knocked $18k off the sticker of their Z/28.

By this math, they should offer you $38k for your trade in and sell you the Z/28 for $85k.

What did you do, wake up one day 11 months ago and say "I know GM has a 20% off sale right now and 1LE's are under $35k, but I really want to pay full sticker plus a premium for mine!!!!" ?

Sounds legit (not)

Angrybird 12 · 10-28-2015, 12:24 PM

Quote:

Originally Posted by HuJass

Remember, that's trade in.

You'd get a LOT more by selling it yourself.

I'll never understand why people trade. They claim for tax purposes.
But the money you save in taxes is far less than what you give up in sale price.
Makes no sense.

Or they're lazy and don't want to be bothered.

Never assume you get more by selling private party over trading. It does not cover all situations. I have seen it go both ways. Sometimes it is best to trade over selling private party. Much depends on what your car is worth, how much equity you have in the car and the difference in the sale price and trade in price. I always do the math first before trading. Sometimes you can get them to come up quite a bit on trade value. Which can save you a lot on taxes. It may never have worked out for you but I have done it, its really worth the time to explore all avenues before deciding.

MrChrisLS3 · 10-28-2015, 12:27 PM

Quote:

Originally Posted by HuJass

Remember, that's trade in.

You'd get a LOT more by selling it yourself.

I'll never understand why people trade. They claim for tax purposes.
But the money you save in taxes is far less than what you give up in sale price.
Makes no sense.

Or they're lazy and don't want to be bothered.

True, private sale will almost always get you more money. How much depends on your local market. Where I live now, I see SS Camaro's everywhere, maybe five or six a day. Where I lived before, just a year and half ago, I'd see that many in a week, if that. So, where I am now, I don't know how much advantage that would be.

Lazy? Well, there's a couple of things to think about here. First, listing the car. You can list it on some car sites, which will increase the focus of serious buyers. However, this comes with a premium (cost), and of course there's always someone with a better example at an equal or lower price.

You go free listing, either here, which gives you a small audience, or CL which of course gives you everyone, and I mean 'everyone'. Then you have to deal with phone calls, at all hours, people saying their going to come see the car and never show up, or show up with no intention nor ability to actually buy the car, or in the CL case with every intention to leave with the car, just not buy it.

Finally, there is the situation that a vast majority are in, that they still owe money on the car. This can be a logistical nightmare in a private deal.

So, yes, you can get more money on a private sale, but you earn every penny of it.

10-27-2015, 08:41 PM	#1
Sgtrod Drives: Camaro 1LE Join Date: Dec 2014 Location: Miami Posts: 120	Think twice before buying a camaro I just went to inquire about buying a z28 and was made a rediculous offer on my 1LE. I paid $47,500 for the car 11mo ago. It is fully loaded and a 2015. They offered me $28k !!!! I know those rebates on the camaro right now make them attractive but dont buy unless it will be a keeper. You will be in a world of hurt when you want to trade up. Last edited by Sgtrod; 10-27-2015 at 09:00 PM.

10-27-2015, 09:07 PM	#4
pickwithaustin Drives: 2011 Camaro 2SS/RS Convertible and: Join Date: May 2014 Location: Central Texas Posts: 1,863	Who buys a vehicle new and then sells or trades it in 11 months later? You might as well play while blind folded in Las Vegas... :( __________________ --------------------------- Currently in my Garage: 2011 Camaro 2SS/RS Convertible \| 1980 Corvette Stingray \| 1981 Firebird \| 1968 El Camino \| 2007 Crown Vic Police Interceptor \| 2001 Silverado \| 2001 Blazer \| 1965 Chevy C-10 \| 2007 Harley Softail Custom \| 2013 MX-5 in Copper Red Mica \| 2000 Corvette Convertible \| 2010 Corvette Grand Sport \| 2006 Audi A3 Turbo \| 2008 BMW 328i

10-27-2015, 09:32 PM	#5
raptor5244 Drives: 2022 CT4-V Blackwing Join Date: Sep 2013 Location: Florida Posts: 2,723	I leased my 2013 2SS 1LE, loaded but no recaros in 2013. Msrp was was $43.5k. Bought it sept 2013 when the 2014s were just hitting the lots. The bank set the residual at $27k after 39 months assuming 12k miles per year. So, the bank is figuring my car will still be worth that money next November when the lease is up. Anyway, the trade in value they gave you on your car is obviously low but wanted to give you a point of reference. Personally, I think the real money on your car is ~$34k but with all the hype and performance of the new 2016 SS you will need to find someone who wants to spend that much money on a 5th gen. Last edited by raptor5244; 10-27-2015 at 09:33 PM. Reason: Typo

10-27-2015, 09:40 PM	#6
KaBoom1701 KaBoom1701 Drives: 13' ZL1 Red M6 Join Date: Dec 2012 Location: I.E. SoCal (Yucaipa) Posts: 8,631	You over paid on your 1LE...sorry. And Camaros are weak on resale value.....there are a ton of them out there right now. I was lucky to get 22k for my 2LT V6 one year ago. __________________ Mods: Roto-Fab Intake, WW Res. kit & Big Gulp Air Scoop, Elite Catch Can, ATI Super Damper & 18% OD Pulley, LF Idler pulley bracket, Metco CC breather, ID850 Injectors, Stainless Power Headers w/ ceramic coating, TR71X Spark Plugs, JMS Fuel Pump Booster, Bo White TB, Tuned by Ted @ Jannetty Racing, Ron Davis HX, D3 Reservoir, Pfadt 1" Springs, Moreno Camber Plates, ZL1 Addons Splitter guard washers, Tow Hook kit & rock guards, Hurst Shifter Billet Plus 6 Speed Short Shifter, ZL1 DRL lighting harness, ZL1 Recaro Seats.

10-27-2015, 09:45 PM	#7
Joseph1LE Drives: 2015 Camaro SS 1LE, 2001 Camaro SS Join Date: Jun 2015 Location: Miami Posts: 836	My 1LE stickered for $47k and I paid $35k for it.... Your mistake for paying top dollar for yours on a car you weren't going to want to keep long without thinking about depreciation. I do think the dealer low-balled you and that 30-33k would would have been more fair depending on how many miles you put on the car. KBB valued mine for dealer trade in at 32.5K (35K private party) and I have 7k miles on the car. __________________ 2017 GMC Canyon All Terrain- daily driver/dirt bike hauler 2015 Camaro SS 1LE- sold 2001 Camaro SS SOM M6- sold 1999 Firebird Formula A4- sold

10-27-2015, 08:45 PM	#2
supergt99 Drives: 2013 Camaro SS 1LE Join Date: Oct 2014 Location: earth Posts: 288	47.5 for a 1le?

10-27-2015, 09:04 PM	#3
Tonydig11 Drives: 2015 2ls bright yellow with strips Join Date: Oct 2015 Location: Beaver PA Posts: 17	It's called deprecation. You bought your 15 right when it came out so you paid top dollar. Now it's a year older. The dealer still needs to sit on your 15 before selling it. They need to make money on it too. They are a business. For shits and giggles a week after I got my 2ls I went to KBB and my trade in value was 10k less that I just paid a week ago. Just a tip. If you buy a new car plan on keeping it some. Cars go down in value not up. 1le or not.

10-27-2015, 10:15 PM	#8
Angrybird 12 7 year Cancer Survivor! Drives: 17 Cruze RS, 07 G6 GT, 99 Astro Join Date: Dec 2007 Location: East Tennessee Posts: 21,546	Remember the larger the discount they give on the new car means your resale value goes down a similar ammount. Just common sense. __________________ Cancer's a bitch! Enjoy life while you can! LIVE, LOVE, DRIVE... The Bird is the word!

10-28-2015, 09:48 AM	#9
VTSummit Consistently inconsistent Drives: 2015 2LT Summit White Join Date: May 2015 Location: United States Posts: 1,363	Who would buy yours used for top dollar when the new ones are being so heavily discounted? __________________ Thanks to MRR, I have some SWEET wheels! Thank you! 2015 2LT Ported TB, Ported intake, JACFAB intake spacer, Borla exhaust, IPF 91 tune, Complete 1/LE suspension, Brembo brakes, Goodridge lines, Elite catch can, CAI with Thermo-wrap, 275/40-20 x 10's all around, Z/28 spoiler, GM splitter, Alpine/Polk stereo with AudiControl interface.

10-28-2015, 10:15 AM	#10
HuJass Drives: GM Join Date: Mar 2009 Location: CNY Posts: 1,599 View My Garage	Remember, that's trade in. You'd get a LOT more by selling it yourself. I'll never understand why people trade. They claim for tax purposes. But the money you save in taxes is far less than what you give up in sale price. Makes no sense. Or they're lazy and don't want to be bothered. __________________ 2015 Camaro 1LE 2009 Challenger R/T 2007 Solstice GXP 2004 Colorado ZQ8 2002 Trans Am WS6 Collector Edition 1999 Blazer 1994 Grand Prix SE B4U

10-28-2015, 10:46 AM	#11
davethewave62 Drives: 2013 2LT/RS Join Date: Sep 2015 Location: Cocoa Beach Florida Posts: 70	Everything we buy depreciates, right after we leave and go home. Dealers do pay lower than an outright sale to a private buyer. Most people who want to trade at a dealer, do not want the hassle with private buyers. But ... I have come to find that after many years of buying / trading cars at dealerships, that if you are willing to be realistic in your asking price, they are most likely willing to negotiate better too. Some may lowball - so you leave and go elsewhere. I look at it this way - when I buy a car, I receive an immediate pay back on my investment, Over time I am still receiving a return on my investment, because I am enjoying the vehicle. If you stop enjoying it - time to get rid of it. How you do that is up to you. __________________ If it was EASY, anyone could do it.