Trade-In Evaluation from local dealer, help?

[frslee]

Is there a specific reason that you want to pay more and replace current car? If so, you'll be increasing your debt from 16,000 to 26,855. Not sure if it's really worth for newer car with manual transmission. If not, save up, payoff current debt and live on.

At the end of the day, everyone will say it's your money and your decision.

[Nickosport]

It seems pretty good. The dealer may make a few pennies on your trade, If they replace the tires, even less. The price they gave you on the new car is competitive. Assuming the finance side works for your budget, i'd pull the trigger.

[Feathergun]

Originally Posted by pinski

As far as the deal itself goes, it seems fair. However, my question to you would be whether or not a manual transmission is worth about $10k. Financially, you're better off keeping what you have then taking a $10k hit and having a car that's much the same as your current one.

Yah I hear what you're saying, thats not really a fair comparison though because the new car has 38k less miles, new tires, new brakes, etc.

[Feathergun]

Originally Posted by frslee

Is there a specific reason that you want to pay more and replace current car? If so, you'll be increasing your debt from 16,000 to 26,855. Not sure if it's really worth for newer car with manual transmission. If not, save up, payoff current debt and live on.

At the end of the day, everyone will say it's your money and your decision.

I understand its really not a good idea to do these type of transaction as they are not economical, however, I bought the AT used due to a need for a vehicle (my job requires travel in order to generate sales) it was the only one held locally at the time and it was the car I wanted but I needed a car none the less. When I bought it, I didn't envision being a car enthusiast and considering tuning the car and adding aftermarket parts and getting into track driving etc. but that's the way life has transpired so that is the reason I want the MT. I don't want to put $2300 into full exhaust, $4500 into supercharger, money into tuning etc into an AT.

[humfrz]

Originally Posted by Feathergun

I understand its really not a good idea to do these type of transaction as they are not economical, however, I bought the AT used due to a need for a vehicle (my job requires travel in order to generate sales) it was the only one held locally at the time and it was the car I wanted but I needed a car none the less. When I bought it, I didn't envision being a car enthusiast and considering tuning the car and adding aftermarket parts and getting into track driving etc. but that's the way life has transpired so that is the reason I want the MT. I don't want to put $2300 into full exhaust, $4500 into supercharger, money into tuning etc into an AT.

Wll now, that sounds like you have answered your own question.

You have a new purpose for a car, so just do it .......


humfrz

[Impureclient]

Still makes more financial sense to just sell auto car, buy a used manual for the same price as what the 2013 is worth and use that $10k you'd be putting in extra for the $6800 in mods you plan on doing with a few thousand left over for even more mods.
Also, you don't buy a brand new car and kill the warranty out of the gate with the supercharger. Usually the main reason for a new car purchase is the warranty.

[86geek]

Originally Posted by Impureclient

Still makes more financial sens to just sell auto car, buy a used manual for the same price as what the 2013 is worth and use that $10k you'd be putting in extra for the $6800 in mods you plan on doing with a few thousand left over for even more mods.
Also, you don't buy a brand new car and kill the warranty out of the gate with the supercharger. Usually the main reason for a new car purchase is the warranty.

Yups!

[RichardsFRS]

Someone said it, buy a used MT. Sell your car straight up and you can probably pay it off. Or trade for a used manual. I wouldn't buy this car new. Just not enough car for me to pay nearly 30K for it. I paid half that for my 13 MT with 43k miles on it. Just not sure I'd want this as a new car. You can forgo all that modding and just buy something fast in the first place. When I trade this one in I'm going back to fast. But this isn't about me its about you and sounds like you have a plan so go for it

[pinski]

Originally Posted by Feathergun

Yah I hear what you're saying, thats not really a fair comparison though because the new car has 38k less miles, new tires, new brakes, etc.

Well I'll put it to you this way: Would you rather have the new car or the current car with $10k in the trunk?

[FISHBURGLAR]

actually im considering on selling my 2013 manual white frs with 34K miles. interesting i ran into this thread haha

[Dake]

REALITY CHECK - Need more info (how many months is the loan, 60 or 72 - or longer?)

When the dealer says they'll, "Pay off the car" that seldom means they are giving you $16k in trade. It means they are giving you the 13 (or whatever) and rolling the remaining difference (so up to 3 grand) into your new loan. This means you are handing them money on the front end AND on the back end. What you're probably really paying is the $26k for the new car, plus the $3k you still owe on your old car for a loan total of $29k (plus TTL).

Unless you have it IN WRITING that they have valued your trade for sixteen grand and would write you a check for that amount.

Look at your paperwork VERY closely. If they aren't doing that they've messed with the interest rate or the loan period to get you the "payments you want", but are still getting their money out of it.

We can't really make an informed decision without all the particulars of the proposed loan agreement, but if it seems to be working out in your favor it rarely actually is.

-Also, rereading your initial post I get the impression the dealer has not physically inspected your car yet (you stated you "told" them the facts on your car)? That would mean their appraisal is conditional and I'd be curious if they don't try and knock it down a bit once they actually put their eyes on it.

In case it's not obvious - I don't trust car dealers.

That being said, according to my trusty financial calculator, 427/mo for 72 months @4.5% does work out to the final price you've stated for the new car, so maybe it's legit and they really are giving you the payoff amount in trade on your old one. In which case, that seems like a pretty good deal.

[Feathergun]

Originally Posted by Dake

REALITY CHECK - Need more info (how many months is the loan, 60 or 72 - or longer?)

When the dealer says they'll, "Pay off the car" that seldom means they are giving you $16k in trade. It means they are giving you the 13 (or whatever) and rolling the remaining difference (so up to 3 grand) into your new loan. This means you are handing them money on the front end AND on the back end. What you're probably really paying is the $26k for the new car, plus the $3k you still owe on your old car for a loan total of $29k (plus TTL).

Unless you have it IN WRITING that they have valued your trade for sixteen grand and would write you a check for that amount.

Look at your paperwork VERY closely. If they aren't doing that they've messed with the interest rate or the loan period to get you the "payments you want", but are still getting their money out of it.

We can't really make an informed decision without all the particulars of the proposed loan agreement, but if it seems to be working out in your favor it rarely actually is.

-Also, rereading your initial post I get the impression the dealer has not physically inspected your car yet (you stated you "told" them the facts on your car)? That would mean their appraisal is conditional and I'd be curious if they don't try and knock it down a bit once they actually put their eyes on it.

In case it's not obvious - I don't trust car dealers.

That being said, according to my trusty financial calculator, 427/mo for 72 months @4.5% does work out to the final price you've stated for the new car, so maybe it's legit and they really are giving you the payoff amount in trade on your old one. In which case, that seems like a pretty good deal.

Thank you for the advise, I learned a lot of the same when I bought the car originally. You are correct, they are out of town and I have not physically brought my car to them, I did honestly tell them every single issue with the car in grave detail over the phone and the salesman told me his general manager said he'd take the risk giving me $16,000 for the trade in value. I've already told them not to waste my time, so long as I wasn't hiding anything (I wasn't) then they shouldn't have an issue with the car when I bring it there, if they do, and try to reduce trade in offer, I'll walk away, simple as that. I'm not giddy about the trade and I certainly won't talk myself into taking a lesser deal, I'll probably visibly get pissed and walk away, its all business really.

Aside from that, I understand where people are coming from with trading for used manuals etc. That's probably a better way to go, but I'd have to find one first, and one that isn't 2k miles away. I understand a lot of people would prefer to spend more money on more power than to spend it on buying the car newer, but I actually hate every other sports car I've driven in that range. I hate mustangs, I hate Cameros, but I love this car, and I'll eventually add more power, but for now its a driver's car and it's top notch in my opinion. I do plan to drive it until its eventual death after this transaction and I don't have the upfront cash to buy all the upgrades I want to put into it anyways, I'd wait out the warranty and save my pennies while I do. As of now, I think I've mostly made up my mind and I'm going to the bank with financial docs tomorrow to see what I can get for financing + GAP insurance on the new ride before I even go to the dealership. I'll update when I get back Sunday evening and let everyone know what transpired. Thanks everyone.

[FingerDiddle]

Originally Posted by Feathergun

Thank you for the advise, I learned a lot of the same when I bought the car originally. You are correct, they are out of town and I have not physically brought my car to them, I did honestly tell them every single issue with the car in grave detail over the phone and the salesman told me his general manager said he'd take the risk giving me $16,000 for the trade in value. I've already told them not to waste my time, so long as I wasn't hiding anything (I wasn't) then they shouldn't have an issue with the car when I bring it there, if they do, and try to reduce trade in offer, I'll walk away, simple as that. I'm not giddy about the trade and I certainly won't talk myself into taking a lesser deal, I'll probably visibly get pissed and walk away, its all business really.

Aside from that, I understand where people are coming from with trading for used manuals etc. That's probably a better way to go, but I'd have to find one first, and one that isn't 2k miles away. I understand a lot of people would prefer to spend more money on more power than to spend it on buying the car newer, but I actually hate every other sports car I've driven in that range. I hate mustangs, I hate Cameros, but I love this car, and I'll eventually add more power, but for now its a driver's car and it's top notch in my opinion. I do plan to drive it until its eventual death after this transaction and I don't have the upfront cash to buy all the upgrades I want to put into it anyways, I'd wait out the warranty and save my pennies while I do. As of now, I think I've mostly made up my mind and I'm going to the bank with financial docs tomorrow to see what I can get for financing + GAP insurance on the new ride before I even go to the dealership. I'll update when I get back Sunday evening and let everyone know what transpired. Thanks everyone.

Have a used 1 shipped to closer by?
If you want to throw money away I'll take it.

[Dake]

Originally Posted by Feathergun

Thank you for the advise, I learned a lot of the same when I bought the car originally. You are correct, they are out of town and I have not physically brought my car to them, I did honestly tell them every single issue with the car in grave detail over the phone and the salesman told me his general manager said he'd take the risk giving me $16,000 for the trade in value. I've already told them not to waste my time, so long as I wasn't hiding anything (I wasn't) then they shouldn't have an issue with the car when I bring it there, if they do, and try to reduce trade in offer, I'll walk away, simple as that. I'm not giddy about the trade and I certainly won't talk myself into taking a lesser deal, I'll probably visibly get pissed and walk away, its all business really.

Aside from that, I understand where people are coming from with trading for used manuals etc. That's probably a better way to go, but I'd have to find one first, and one that isn't 2k miles away. I understand a lot of people would prefer to spend more money on more power than to spend it on buying the car newer, but I actually hate every other sports car I've driven in that range. I hate mustangs, I hate Cameros, but I love this car, and I'll eventually add more power, but for now its a driver's car and it's top notch in my opinion. I do plan to drive it until its eventual death after this transaction and I don't have the upfront cash to buy all the upgrades I want to put into it anyways, I'd wait out the warranty and save my pennies while I do. As of now, I think I've mostly made up my mind and I'm going to the bank with financial docs tomorrow to see what I can get for financing + GAP insurance on the new ride before I even go to the dealership. I'll update when I get back Sunday evening and let everyone know what transpired. Thanks everyone.

Sounds like you have the right outlook.

Good luck!