boothay

Heres an update, they did indeed try to give me 17k for my car. They didnt have any used 11 or 12's used so he tried to put me in a 13 5.0 (non-premium) for 30k. Im gonna keep looking for used ones. This new one was gonna put my payments up another 200 dollars.

siggyfreud

Thought about selling privately?

Derf00

That's dealership logic there ^^^.... and a very, very common mistake. Not to be a dic but;

What was your total Out the Door Price on the original 2010 car? What was your down payment? What percentage rate was your loan over how many months?

If you paid 30K for the car new (tax, license, doc fees) had 5K in a down payment. (25K Loan) The real math is this

You paid 5K in a down payment, factor in depreciation of 8K (assuming an inital total price of 30K and what you got for trade-in), and add say $1K in loan interest you've paid thus far, that's a total of $14K you've lost on that 2010. So you actually came out in the hole by $6K if you take into account the "8K ahead"...

Now take into account additional taxes, license fees, etc on the new car (another $2K), that's your true cost of trading in your existing car that is not paid for. (8K in the hole)

Unless the car is paid off and you've owned for a while, no way you ever come out "ahead". Cars are a (depreciating) liability, not an asset.

Dealerships always focus on the trade-in or "monthly payment" to divert your attention from that basic fact.

Gary Ugarek

What was the sticker?

13's have a $1500 rebate on them, so, let's say with some logic it was sticker of $32, 685.00

Chances are they deducted rebate, $31,185 and deducted another $1,185.00, which means they were at $100 over invoice.

Did you check the build date? Getting into that hold back money is tough, but if they wanna make a sale bad enough... they'll do it.

I don't know if you're financing, but FMCC had a deal where you got an extra $500 visa gift card, or you could apply it to the car price if FMCC financed. My Dealer tried to get me to finance just for the $500, but I paid in cash.

There is another $750 for some kind of loyalty discount... if they didn't factor that and $500 in you had another $1,250 off the price.

Here is my super uber BEST advice... Go buy between XMAS and NYE (Dec 31)

If a dealer can bounce a car off the lot in that week, they will be more generous with deals simply because they don't want to be stuck with a tax bill on inventory.

Go to the dealer on Wed Dec 26th... but make sure you close no later than Dec 31st. They want that deal for Dec and for 2012, even if it is a 13.

boothay

Did, but my area isn't exactly is a good area for selling things. Everyone around here is soo cheap lol. Jus saying.

boothay

27k the already took the rebates off

siggyfreud

Perhaps, but you could certainly get more than trade-in value. Or you could sell it on Ebay and have it open to the US/World market.

Gary Ugarek

27K for a 2013 GT, is a good price. I wouldn't turn that down. Factor in your Downpayment, and depending on your credit your interest rate, and you may qualify for a low rate (I don't know your credit) your payments could easily be just a hair of $500, or possibly under $500

Depends on the term and the rate.

shouldhavegottheGT

I recently bought a 2013. It's a V6, but that's what I wanted and more importantly, could easily afford. I talked to the guys about a Base 2013, out the door was $23k after my trade in. I had a 2010 Patriot and they offered me $10k and I owe $8k. Couldn't make the numbers work. Car finance is pretty shady and I have a degree in finance so that doesn't work on me. I checked their website the following weekend and they had a used 2013 base. It was listed for $21k with 10k miles. I ended walking out at $17,5k and they gave me $11k for the trade in instead. Just be patient, there are always a ton of mustangs for sale around me. The dealers always have them.

boothay

Yea, I'll just wait until I find a used 11 or 12. I'll just be honest...I test drove the 13..5.0 6 speed (first time driving a 5.0)...and I really couldnt tell the night and day difference everyone was talking about in speed and handling. The 13's clutch pedal is soo soft, feels like another gas pedal IMO. I like the stiffness of my pedal.