thinking of trading in
11-20-2011, 01:41 PM
#11
4th Gear Member
Join Date: Sep 2010
Location: Not sure
Posts: 1,724
Ok take my experience for example. I just traded my 2010 gt premium with 16k miles for $24k with a roush supercharger on it which is the only reason they gave me $24k (they wanted to give me $21 at first). They have it on the lot for $26k so basically your 100% not getting $28k for your car, but you could probably get close if you privately sell it.
11-20-2011, 01:45 PM
#12
5th Gear Member
Join Date: Aug 2006
Location: Cumming, GA
Posts: 2,460
Ok take my experience for example. I just traded my 2010 gt premium with 16k miles for $24k with a roush supercharger on it which is the only reason they gave me $24k (they wanted to give me $21 at first). They have it on the lot for $26k so basically your 100% not getting $28k for your car, but you could probably get close if you privately sell it.
11-20-2011, 10:21 PM
#14
5th Gear Member
Join Date: Oct 2009
Location: Maui
Posts: 4,752
Ok take my experience for example. I just traded my 2010 gt premium with 16k miles for $24k with a roush supercharger on it which is the only reason they gave me $24k (they wanted to give me $21 at first). They have it on the lot for $26k so basically your 100% not getting $28k for your car, but you could probably get close if you privately sell it.
Op, forget the trade in, craigslist, auto trader etc....
11-21-2011, 10:14 AM
#15
2nd Gear Member
Join Date: Jul 2010
Location: Louisiana
Posts: 243
The only problem with selling it outright is you are still not going to get what you owe, so you will have to come up with money to pay it off. You will also not get the tax break on whatever they give you for it vs what you pay for the new one. The only way to avoid this is to work a deal with the dealership where the private party buyer comes in and you do the deal together.
I wish I could trade in my 2010 but I am in the same boat as you, upside down!
I wish I could trade in my 2010 but I am in the same boat as you, upside down!
11-21-2011, 02:42 PM
#17
4th Gear Member
Join Date: Apr 2009
Location: The Rocket City, AL
Posts: 1,881
Im going to wait until after December 3rd to back to the dealership. This is the date each month when the new factory rebates come out. Last month of the year to sell off all of the 2011 models before they start putting the 2012's on the lot. Should be good for another $500-$1500 of incentives in guessing.
11-21-2011, 06:04 PM
#18
The only problem with selling it outright is you are still not going to get what you owe, so you will have to come up with money to pay it off. You will also not get the tax break on whatever they give you for it vs what you pay for the new one. The only way to avoid this is to work a deal with the dealership where the private party buyer comes in and you do the deal together.
I wish I could trade in my 2010 but I am in the same boat as you, upside down!
I wish I could trade in my 2010 but I am in the same boat as you, upside down!
If you can't come up with the difference between what you get private party and what you owe on the car, then you don't have any option but to trade it in and try to roll that negative equity into your next loan. I'd be wary of using the dealership to proxy the sale of a private party. They'll get you any way they can, so I'd just be careful. Sounds like your best bet is to list it first on websites to sell it. See what they're offering and if you can make up the difference or just bite the bullet and trade it in
11-22-2011, 09:15 AM
#19
2nd Gear Member
Join Date: Sep 2009
Location: Arizona
Posts: 451
honestly...why dont you wait another year or two and maybe the negative equity will get balanced out a little bit. Year in and Year out I have seen expensive trucks go for a lot less once the model year is coming to an end. It is a great deal but I think you will find something similar next year as well. If you can stick it out, I would just hold onto the car and see what it looks like next year.
Oh and if you do trade it in, I would take out the CAI and only tune for the gears. Its something they wont give you any money for and you can probably private sell it for a few hundred dollars.
Oh and if you do trade it in, I would take out the CAI and only tune for the gears. Its something they wont give you any money for and you can probably private sell it for a few hundred dollars.
11-22-2011, 01:39 PM
#20
Unless the dealer thinks that HE can unload it at a good price, I think you'll be disappointed with the dealers appraisal. Matter of fact, I'm almost sure of it. As stated above, I'd try selling it outright. But most folks don't care for that hassle and accept the dealers offer. Bottom line is, they'll get you one way or the other. You want the other vehicle and the dealer can sense your desperation. They're pros. You're cooked unless you can out-******* them.
If you show any type of desperation, or make any kind of comments such as "I know the mods aren't going to help me" they'll definitely take advantage of the situation....because if you do work a deal with them and they resale your car, the first thing they're going to do is use those mods to help them sell it.