Need advice on trade in

Ubetit · 05-02-2014, 09:46 AM

Quote:

Originally Posted by DjSquall

The dealership is just across the street from my work so it's not an issue at all going there for a half hour to bust some sales guys balls. If they don't give me what I want, too bad.

And they're promising equal or lesser payments, so there's no way I'll agree to pay a penny more.

I can get close to $30k for the Z (this is canada) and with the cash incentives I can have about $40-45k to argue towards the GTR. If they offer me a used one for $60-70k, I wouldn't have a problem adding the $20-25k to my finance. If it works out, I'll be walking out with my dream car. And I'm not taking a new Z, f that.

Edit: also, if I re-do the finance now, I can afford a shorter term with a lower rate as well.

I think you might be starting to get it but I still see a shimmer of hope:

1. No dealer hands you $15k cash "incentives"
2. I don't know what you paid for your car but you still owe 36 payments on your current car. Even if they gave you $30k on your car as trade, you/they still need to pay off 42.8% of your original loan.
3. You won't get $30k for your car, sorry. I just searched autotrader for all of Canada. There are twenty eight (28) 2009 370Zs for sale and only 1 is over $30k (a private seller even). The dealer would have trouble selling your car at $30k retail. He'll give you $22-24K if you are lucky realizing they want about $4k out of a used car.

When it's all done and said my original estimate of what you'll need to finance a GTR stands.

Keep your current loan and car. Make any extra payments to a savings account. When that savings account amount matches the loan payoff, pay it off. Others will tell you to refinance a shorter term and decreased interest which is also fine as long as your budget can take it and you are pretty sure of your employment for at least the life of the loan.

DjSquall · 05-02-2014, 11:26 AM

That's some good advice. Didn't think of it that way. Thanks.

Quote:

Originally Posted by Ubetit

I think you might be starting to get it but I still see a shimmer of hope:

1. No dealer hands you $15k cash "incentives"
2. I don't know what you paid for your car but you still owe 36 payments on your current car. Even if they gave you $30k on your car as trade, you/they still need to pay off 42.8% of your original loan.
3. You won't get $30k for your car, sorry. I just searched autotrader for all of Canada. There are twenty eight (28) 2009 370Zs for sale and only 1 is over $30k (a private seller even). The dealer would have trouble selling your car at $30k retail. He'll give you $22-24K if you are lucky realizing they want about $4k out of a used car.

When it's all done and said my original estimate of what you'll need to finance a GTR stands.

Keep your current loan and car. Make any extra payments to a savings account. When that savings account amount matches the loan payoff, pay it off. Others will tell you to refinance a shorter term and decreased interest which is also fine as long as your budget can take it and you are pretty sure of your employment for at least the life of the loan.

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