Stealership guys - inside

[Grabber]

Ah. It sounds like an inexperienced salesman/appraiser. However, you're going to get reamed at any dealership if you're trading in a modified car. Just gotta think of it this way. For every 1 customer that wants to buy something modified, the will have 100 customers that DONT. Your best bet in that case would be to 'de mod' your mustang and trade in that way. You could recoup your costs, and with parts you dont have the shady bullshitters like you do with vehicles.

Hope this helps.

I hear you. I'm parting my car out so the car will be bone stock when I bring it in to a dealer.

Ok. Then pay off your cars pay cash for the sport after the trade. It's not hardoke: /thread!:beer:

Could do that. Everyone on SVTP is a baller. Not sure why you're so negative here, I'm asking for trade-in advice, not financial advice. If I wanted to wait 4 more years to pay my Mustang off and not have a car suitable for a child nor have time to do anything with it, I'd keep it.

Thanks for your advice.

 

[ON D BIT]

Could do that. Everyone on SVTP is a baller. Not sure why you're so negative here, I'm asking for trade-in advice, not financial advice. If I wanted to wait 4 more years to pay my Mustang off and not have a car suitable for a child nor have time to do anything with it, I'd keep it.

Thanks for your advice.

Wait you said you make plenty of money to cover both cars! So pay off both cars and buy the sport today. I don't see the issue? Why would you wait 4 years?

 

[straightliner1]

I would also keep Carmax in mind, never hurts to see what they will offer..

I've gone this route 3 times. All offers have been fair. No commitment, give them a shot


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[Grabber]

Wait you said you make plenty of money to cover both cars! So pay off both cars and buy the sport today. I don't see the issue? Why would you wait 4 years?

I'll be more clear.

I can afford the payments. I don't have 40,000 in cash to throw down.

Sorry to disappoint as every member of SVTP has loads of cash laying around.

I'm not broke making the payments. I don't have the luxury of making so much money I can just stop making payments and pay them off in one fell swoop.

 

[2KBlackGT]

I'll be more clear.

I can afford the payments. I don't have 40,000 in cash to throw down.

Sorry to disappoint as every member of SVTP has loads of cash laying around.

I'm not broke making the payments. I don't have the luxury of making so much money I can just stop making payments and pay them off in one fell swoop.

Man, why the hell are you explaining shit to that man? **** him, do what's best for you and your situation.

 

[rotor_powerd]

Put the Mustang back to stock and see what you get offered. Also check out CarMax. That's a sellable car for them, so they'll give you good money. I've used them once before and was very pleased.

Sell the Explorer private party. It's older and will go straight to auction pretty much anywhere you take it. As such you'll get low balled on it pretty good.

 

[ON D BIT]

I'll be more clear.

I can afford the payments. I don't have 40,000 in cash to throw down.

Sorry to disappoint as every member of SVTP has loads of cash laying around.

I'm not broke making the payments. I don't have the luxury of making so much money I can just stop making payments and pay them off in one fell swoop.

Which is what I assumed in the first place. You have negative equity because you don't have extra cash.
My first post still stands:
Second you want to buy a 50k vehicle and yet you can't pay or cover the two vehicles that you currently own, hence the negative equity in both.

How much does it cost in ttl fees in il? In ca it's nearly 10% which would mean 5k that you're spending on nothing. 50k vehicle + 5k ttl + 5k neg eq equals a 60k cost for a vehicle that will be worth maybe 45k soon as you sign the financing. Are you going to finance the entire 60k? Do you have any down payment?

Better option is to sell the mustang pay off the 08 and save. Buy 16 sport in 18 used for 35k.

I'll add if you do anything else you will never save additional cash for life or wants such as new 50k cars.

 

[ULTIMATE ORANGE SS]

i checked KBB i think it was for what my car was selling for in my area. it was an 05 GTO. so after i somewhat had a deal after negotiating online and them calling me everyday lol i waited till i got there to offer my trade though they arent stupid the sales mngr asked about a trade before i arrived. they of course low balled me and i countered with an offer and they accepted. it was a little lower than i wanted but i got decent amount off from haggling and my GM card and supplier disc. plus i qualified for 0 per financing. epper:


is there sales tax on trades where you live? there isnt here which is good.

 

[95Cobra_Iowa]

New to the boards but I own a Ford Dealership near Des Moines Iowa and thought I'd pipe in!

I know a lot of dealerships aren't very upfront and its kinda sad really that most don't go out of their way to make things easy. The good news is that with the ease of using the internet that you can send pictures and get Bids from a lot of dealerships without traveling to a ton.

I think your Mustang is probably worth $28-29k at retail so you have to expect back of that for a trade-in price. My guess on the Explorer is probably around that $9-10k mark. At our dealership we offer $500 over any carmax offer and most of the time I think they are accurate with what the car is worth. They have so much data from how fast cars move, etc that they know the market well. Not to say they never make mistakes.


I am not sure if that helps. But, I'd be more than happy to help if I can!

 

[Never_Enough]

Which is what I assumed in the first place. You have negative equity because you don't have extra cash.
My first post still stands:
Second you want to buy a 50k vehicle and yet you can't pay or cover the two vehicles that you currently own, hence the negative equity in both.

How much does it cost in ttl fees in il? In ca it's nearly 10% which would mean 5k that you're spending on nothing. 50k vehicle + 5k ttl + 5k neg eq equals a 60k cost for a vehicle that will be worth maybe 45k soon as you sign the financing. Are you going to finance the entire 60k? Do you have any down payment?

Better option is to sell the mustang pay off the 08 and save. Buy 16 sport in 18 used for 35k.

I'll add if you do anything else you will never save additional cash for life or wants such as new 50k cars.

What? Pretty sure he doesn't have a loan on the Exploder, right?

negative on the Mustang because he bought new &, I guess, does not pay more than the minimum payment each month. I've never been in the red on a car I financed. You have to buy them right, though.

 

[ON D BIT]

What? Pretty sure he doesn't have a loan on the Exploder, right?

negative on the Mustang because he bought new &, I guess, does not pay more than the minimum payment each month. I've never been in the red on a car I financed. You have to buy them right, though.

I'm looking at 2016-2017 Explorer Sport models and am going to be trading 2 cars in that currently have negative equity, but, not a lot on one...

-Chris

This tells me he 2 used cars in negative equity but not a lot on one.

 

[nxhappy]

I see two problems and both are how you represent yourself op.
First you want the help advice of those that work at a dealership but start off by calling them thieves.
Second you want to buy a 50k vehicle and yet you can't pay or cover the two vehicles that you currently own, hence the negative equity in both.

How much does it cost in ttl fees in il? In ca it's nearly 10% which would mean 5k that you're spending on nothing. 50k vehicle + 5k ttl + 5k neg eq equals a 60k cost for a vehicle that will be worth maybe 45k soon as you sign the financing. Are you going to finance the entire 60k? Do you have any down payment?

Better option is to sell the mustang pay off the 08 and save. Buy 16 sport in 18 used for 35k.

bingo

 

[ziggity]

Dibs on the headers and Hpipe !

 

[yellow03cobra]

Right or wrong I don't negotiate anymore. I look for the deals I want on the internet. I check my cars value, credit score, and final payment figures at home. I do the financing over the phone. If things aren't close enough to my expectations I just wait for the next deal to come along without even walking into the dealership.

 

[LS2GTO]

No matter what, I have to haggle, nearly beg for better trade in prices, or negotiate to not accept a car they have on a showroom that doesn't meet my wants in terms of options, etc.

You seem to put a lot of weight on price when it comes to your "dealership experience". As in, if they don't want to budge you don't get your EXACT price it's an overall negative experience regardless of how they treated you otherwise.

That's part of the business, and as mentioned they are in the business to make money. Of course they are not going to just hand you money right out of their pocket to make sure you are happy. Now if they treated you like shit, or lied to you, or misguided you, or deceived you in any way I would agree that would be a "negative dealership experience". But them trying to get the most money out of their product I would not consider being a negative experience.

When you walk into a grocery store and pay the asking price on a jug of milk, do you then think back of your experience with the store and say to yourself "what a bunch of asshats"?

 

[lobra97]

The dealership i was at used mannheim (sp?) to get true values and not black book. We took a lot of stangs as trade ins and i never saw $30k for any of them. When we couldnt agree on trade in values we used to offer car max as another option. I had 2 buyers who loved our price but wouldnt agree to our trade in offer so we told them to sell it to carmax and then turn around and buy our vehicle. So we would agree on price, they would leave and sell the vehicle, then return and finish the deal. Carmax typically offers more because theyre a nation wide chain and can ship them anywhere. We won and they won doing it that way. Keep your options open


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[shanezt]

The first thing is to forget KBB and NADA they dont set values and no dealer goes by them. All the dealer cares about is what they can get for that car at auction. If you expect KBB values you will almost always be disappointed. Mannheim is usually a couple grand back of KBB trade in value.

 

[Grabber]

Thanks for the input guys. Going to work a few details out.

I have a loan on both. The explorer was $16,000 when we bought it. Didn't have $16,000 to buy out right. Again, not a true SVTP baller, I know.

Either way, sell my Mustang private party and part it out is the smart thing. I still have to trade in the Explorer and pay the difference in taxes between the trade in and new price of the vehicle of 10.25% of the sell price of the vehicle. When trading in two cars and purchasing one, it's even less, so, I'm saving about $3,000, give or take by not paying the full amount of taxes.

@LS2GTO - It's not so much just price. Any dealer I've gone to refuses to be up front. We will negotiate for sometimes 2 hours, where I give them a price, they walk away for 10-15 minutes, come back 100 bucks more, etc. The dealers have been respectful, but, it's not a good experience when they intentionally low ball me and have a super expensive car that has the options I want. Point in case, I don't think any of my cars are worth KBB Values, period. I want a "FAIR" price and when I've been offered $5,000 or $10,000 less than a "poor condition fair value car" that's a big **** you.

Anyhow, I understand the logic and will make a choice soon. The car will be parted out no matter what and I may try to list it private party and deal with dozens of buyers that probably don't have available funds, want to JUST drive the car, etc. Again, always been easier going to a dealer, even though that is not the best experience either.

 

[jbs$]

The dealership i was at used mannheim (sp?) to get true values and not black book. We took a lot of stangs as trade ins and i never saw $30k for any of them. When we couldnt agree on trade in values we used to offer car max as another option. I had 2 buyers who loved our price but wouldnt agree to our trade in offer so we told them to sell it to carmax and then turn around and buy our vehicle. So we would agree on price, they would leave and sell the vehicle, then return and finish the deal. Carmax typically offers more because theyre a nation wide chain and can ship them anywhere. We won and they won doing it that way. Keep your options open

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When a Dealership takes on a car in a trade, they also take on several layers of cost and risk that have to be considered in the price that they offer. These cost include the finance carrying cost while the trade is in their inventory, the cost of cleaning the car up for sale, the cost of moving the car around to different locations and the risk of hidden mechanical damage that they may now be on the hook for. The average Customer walks into a Dealership with three request, spoken or not, these are, 1, sell me your car, 2, please buy my current car, 3, arrange financing to make all of this to happen. The life of a Car Dealer is not always an easy one.

 

[black4vcobra]

Which is what I assumed in the first place. You have negative equity because you don't have extra cash.
My first post still stands:
Second you want to buy a 50k vehicle and yet you can't pay or cover the two vehicles that you currently own, hence the negative equity in both.

How much does it cost in ttl fees in il? In ca it's nearly 10% which would mean 5k that you're spending on nothing. 50k vehicle + 5k ttl + 5k neg eq equals a 60k cost for a vehicle that will be worth maybe 45k soon as you sign the financing. Are you going to finance the entire 60k? Do you have any down payment?

Better option is to sell the mustang pay off the 08 and save. Buy 16 sport in 18 used for 35k.

I'll add if you do anything else you will never save additional cash for life or wants such as new 50k cars.

I'm with you on this. It is never a good idea to have negative equity on anything (much less 2 vehicles) so that means he either overpayed for the vehicles, had very little down payment, or extended the length of the loan out as far as possible - or a combination of all 3.

TS, I know you don't want the vehicles you have anymore but losing money on trading those vehicles in is an incredibly stupid financial decision. It's not like you NEED a new Explorer, so wait until you can sell/trade them for more than you owe on them - just my $.02, take it for what it's worth.