Club Scion tC

Car Candy Motor Sports
Guest Menu
- Home
- Forums
- Login
- Register
- Scion tC Rides
Scion News
Scion Generation
Scion tC Parts
Aftermarket Scion tC speed shop carries Scion tC exhaust, Scion tC intakes and more Scion tC parts at ScionGeneration.com
Club Scion tC Decals
Forum Options
Register | Login
Advanced
Viewing Thread
Home > Marketplace > Dealer Chat > Thinking of Trading Your Car? Read Here First

Thinking of Trading Your Car? Read Here First

Pages: 1 2 >>
Related threads: ( Click here to view )
Orin


Reg'd: Dec 08, 2005


I'm a car dealer. I can be the bad guy some times. Allow me to give you all some solid advice for trading your vehicle. I don't want my friends to get screwed by the dealer. So read up.

You buy a car (example) for 20,000 dollars. You drive it for 2 months and decide it's not the car for you. No problem right? Just trade for a less expensive car. Not a good idea.

Now the hard part. The car has already depreciated over 30% when you drove away with it. Thats before miles and wear. Now it's worth 16,000 and you owe 19,300. You have 3,300 of negative added to the price of the new car you want because of the difference in what you owe vs what it's worth. So even if you look at a car that's 15,000 it becomes 18,300. Roughly a 360 dollar a month payment. Let's not forget taxes, tag and dealer fees added to the 18,300...

So lets add a 300 dollar dock fee, 7% tax and 25 dollars for your tag. It's now 19,927. That's a 400 hundred dollar a month payment.

As a car dealer, I will tell you the sales staff (including managers) will try and screw you on the appraisal of your car. Go to Kelly Blue Book as a guide and get a professional to look at your car. Be realistic about the condition like scratches and tire wear. Mods and after market wheels do not increase value, nor do fancy stereos.

You are always better off selling the car yourself. It takes longer and it can be complicated if you don't know what you're doing.

Stick with a new vehicle because used car finance officers will screw you on interest on any pre-owned. We're talking 11%. versus 7% on a new. If you have a high credit score above 720, you will have less to worry about on a pre-owned interest rate. Otherwise, stay away.

If you don't feel comfortable with the dealership, walk out. If you are uncertain, ask to see their customer service index, managers will provide this to you. Any number below 90% is a shady dealership. Leave.
[#] May 06, 2007 07:45pm
hvtopiwala


Reg'd: Jan 03, 2007

Godlike Advisor

good advice

[#] May 06, 2007 07:48pm
andino


Reg'd: Mar 05, 2006

Godlike Advisor

good info...gotta give this to my uncle who's looking for a car





Are you in SoCal? Come to our CStC meets!
Located in Socal? Need something Installed?
Have a question and no one is willing to help? Shoot me a PM or hit me up on AIM.
[#] May 06, 2007 07:58pm
triniosito


Reg'd: Nov 15, 2006

Godlike Advisor

Thanks For The Heads Up Bro

[#] May 07, 2007 09:54am
dsm3383


Reg'd: Mar 14, 2007

Scion Guru

I did'nt know about the customer index rating for a dealership. Very interesting and great to know. Will def check that out the next time I go car shopping. Thanks Orin for the info.

Beer is proof that God loves us and wants us to be happy.

-Ben Franklin
[#] May 07, 2007 01:01pm
Mugetsu


Reg'd: Oct 11, 2006

Scion Guru

Yo Orin whats up with "Gap insurance"? is it the real deal or just more
insurance dealers try to sneak on you?

wow that was more intense than that one time I forgot how to sit down...
[#] May 07, 2007 01:07pm
OldJersey


Reg'd: Jan 09, 2007

Vehicle Designer

so a dealer wont give you more if you have, say like after market rims or something?



'07 BSP
[#] May 07, 2007 01:08pm
dsm3383


Reg'd: Mar 14, 2007

Scion Guru

What I know you won't get more with any mods and you might actually suffer and have your value depreciate.

I don't know too much with the new vehicles. Orin would be top notch for that. But I do know for older cars it matters...especially classics.

For example. Take a 1964 Pontiac GTO. Someone swaps with a crate motor and customizes it. Looks sweet but will prob have a blue book value of $30k. Now take a 1964 Pontiac GTO that is stock with original radio and kept in pretty decent condition. Yea, its worth prob over $100k. From my experience I have always seen a better resale on stock cars rather than modded.

Beer is proof that God loves us and wants us to be happy.

-Ben Franklin
[#] May 07, 2007 01:13pm
Orin


Reg'd: Dec 08, 2005


Mugetsu wrote:
Yo Orin whats up with "Gap insurance"? is it the real deal or just more
insurance dealers try to sneak on you?


Gap Insurance is a godsend product and very useful, but just like all other products, it's marked up. The actual cost is 199 dollars and the price sold to you is 600 dollars.

[#] May 07, 2007 02:02pm
Web


Reg'd: Apr 17, 2006

THE SHADOW

Yeah, I got the 600$ butt plug from the dealer too .......

well, at least i have that coverage.


I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones. A.E.
[#] May 07, 2007 02:04pm
fsu1dolfan


Reg'd: Sep 13, 2005

Tech Advisor

Orin wrote:
Mugetsu wrote:
Yo Orin whats up with "Gap insurance"? is it the real deal or just more
insurance dealers try to sneak on you?


Gap Insurance is a godsend product and very useful, but just like all other products, it's marked up. The actual cost is 199 dollars and the price sold to you is 600 dollars.


If you are lucky your insurance company for your car will already have something like this standard....check with them too...mine does!!

Need an invite.....sign up and win free money...its a cool game!
http://www.moola.com:80/m...d544d744f4467324f54673d-2
[#] May 07, 2007 02:16pm
sciontc1982


Reg'd: Feb 06, 2006

Chief Mechanic

Orin I should take you with me the next time I buy a new car, you could save me some money. I could pay you by the hour. LOL!!! J/K!!

[#] May 16, 2007 09:38pm
Mugetsu


Reg'd: Oct 11, 2006

Scion Guru

Web wrote:
Yeah, I got the 600$ butt plug from the dealer too .......

well, at least i have that coverage.


same here 500$ for Gap but i figured it would be worth it.


wow that was more intense than that one time I forgot how to sit down...
[#] May 25, 2007 11:54am
flyingcesar


Reg'd: Jun 13, 2006

Scion Guru

For GAP insurance your Insurance company is a lot cheaper… Just to let you guys know.

2008 G37 OB Sport 6MT...
2007 335I 4DR...
[#] May 25, 2007 12:46pm
Vicious


Reg'd: May 03, 2005

El Chupacabra

You're alot better off selling the car yourself. When I wanted to just trade in my civic as the down payment for my tC, the dealer made me feel like my civic was a worthless pile of silver dookie they offered me 2grand for it and I laughed and said "ohohoho, fuck you my friend" sold the car myself for 5 grand and I lived happily ever after




Y s0 S3ri0uS?
[#] May 25, 2007 01:00pm
Orin


Reg'd: Dec 08, 2005


Vicious wrote:
You're alot better off selling the car yourself. When I wanted to just trade in my civic as the down payment for my tC, the dealer made me feel like my civic was a worthless pile of silver dookie they offered me 2grand for it and I laughed and said "ohohoho, fuck you my friend" sold the car myself for 5 grand and I lived happily ever after


Yes, dealers will do that. About 1 month ago a man comes to me and is ready to get rid of his 2007 Ford F-150. I asked him if he owed any money and he said no. He paid for the F-150 in cash.

He just didn't like the truck.

I had the truck appraised for 20,500 dollars (actual cash value) I told him it was worth 18,500 and pocketed the profit ($2,000) in addition to selling the car at full sticker + dealer markup.

Most people would be, "How could you do that? Isn't that illegal?" no, it's not illegal. Did I lie? Yes.

It's a game and both sides (consumer & dealer) are trying to keep as much money as possible.

[#] May 25, 2007 01:27pm
flyingcesar


Reg'd: Jun 13, 2006

Scion Guru

Orin will dealers just not want to take a modified car for some reason?

2008 G37 OB Sport 6MT...
2007 335I 4DR...
[#] May 25, 2007 01:37pm
Orin


Reg'd: Dec 08, 2005


flyingcesar wrote:
Orin will dealers just not want to take a modified car for some reason?


A dealer will take a modded car if they have to, but most prefer not because a consumer is scared of cars that have all sorts of things done to it. A car with mods usually has the most problems (in dealer history)

So a dealer will completely ignore the value of anything you've done to the car. As a matter of fact, they may even subtract value.

I always stress that people keep their OEM parts to put back on the car when you trade.

The excuse is always, "well I'm keeping this car anyway"---no you are not, cars get old and you're going to want to trade.

resale is ALWAYS important.

[#] May 25, 2007 01:42pm
flyingcesar


Reg'd: Jun 13, 2006

Scion Guru

That’s where I screwed my self I got rid of all the OEM parts… I just have to find that one good buyer that’s looking for a modified car.

2008 G37 OB Sport 6MT...
2007 335I 4DR...
[#] May 25, 2007 01:45pm
Orin


Reg'd: Dec 08, 2005


Dealers will always screw you. Just sell it yourself.


Blue book your car (private seller value), then add a depreciated value of the mods you have on the car.

You might have more success finding someone that appreciates the mods by selling privately.

[#] May 25, 2007 01:48pm
flyingcesar


Reg'd: Jun 13, 2006

Scion Guru

That’s what I think I’ll have to do.

2008 G37 OB Sport 6MT...
2007 335I 4DR...
[#] May 25, 2007 02:01pm
Orin


Reg'd: Dec 08, 2005


One thing about selling privately... never take a personal check. Never take a money order. You may have already known that.

Cash

or

Official Bank Check (only given out by a bank)
[#] May 25, 2007 02:03pm
grlswannadance


Reg'd: Apr 08, 2007

Godlike Advisor

Orin wrote:
Dealers will always screw you. Just sell it yourself.


Blue book your car (private seller value), then add a depreciated value of the mods you have on the car.

You might have more success finding someone that appreciates the mods by selling privately.


couldnt have been more honest myself. i watch people everyday here on our lot get raped on trades (not on the deals themselves necissarily.. but the trades yay)

a car is a girls toy too ;]

-- www.myspace.com/pinksquadowner
--www.itsmyscion.com/caligirltiffy
[#] May 25, 2007 02:07pm
TongMan


Reg'd: Dec 04, 2006

Master Mechanic

My parents went to buy a Used Certified 2001 Toyota Sienna with 60K+ miles and the finance guy influenced them to buy the extended warranty (100,000K miles/7 years) for 2 G's. Hence, now is May 2007 and the extended warranty expires in Jan 2008. That was only less than 7 months of warranty!! My parents aren't that bright when it comes to buying cars. I was the one who'll write the downpayment check, so I went back to the dealership and told them that they won't be getting any check if they don't take away the Extended Warranty. They took it out afterwards. I can tell from the finance guy's face that he was embarrassed.

My parents mistake was that they should've taken me along in the first place. I've had plenty of experience dealing with salespeople and buying cars.

TRD Supercharged Release Series 2.0 tC
[#] May 25, 2007 06:42pm
grlswannadance


Reg'd: Apr 08, 2007

Godlike Advisor

ya unfortunatly there are ones out there that'll take ya for ur shinny penny
but luckily i dont have any of those here we just got rid of one

a car is a girls toy too ;]

-- www.myspace.com/pinksquadowner
--www.itsmyscion.com/caligirltiffy
[#] May 25, 2007 07:15pm
Pages: 1 2 >>

TOP: Home > Marketplace > Dealer Chat > Thinking of Trading Your Car? Read Here First



Quick Nav:
©2008 Club Scion tC - Community for Scion tC enthusiasts.