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MrsD529
LIF Infant
Member since 6/10 252 total posts
Name:
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Car Buying Question
Has anyone ever went to lease a new car but had a car to trade in ? Did the dealer match what you owed on your loan??
I have a lease that is due up tomm and I still havent decided if I should buy it out or lease a new car. I would like to buy it and keep it for another year or 2 but I want to be sure that when I go to lease a new car in a year or so, they will give me what I owe on my loan. Anyone have experience with this ?
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Posted 8/29/10 9:04 PM  |
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MrsSchwags
Soccer Baseball Lax Mom
Member since 10/05 11240 total posts
Name:
Jennifer
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Re: Car Buying Question
They won't give you what you own on your loan, unless your car is worth that amount.
Regardless they are going to go look at your car in terms of milage, options, conditions. They will then tell you what they are offering you.
If you owe less then it is worth then you make out and can apply that extra money towards your new purchase/lease.
If you owe more than it is worth then you are going to be "upside down" which means you will be adding more to your new loan.
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| Posted 8/30/10 7:29 AM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: Car Buying Question
dealers also always offer only "fair" condition and always less for trade-ins than what you can get privately.
try pricing it out on kbb to see if it would be worth it
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| Posted 8/30/10 8:50 AM |
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DrMeg
Back home!
Member since 5/08 1858 total posts
Name:
Meg
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Re: Car Buying Question
It seems like a lot of dealers are using NADA to determine how much they will give you for your car. And of course, this is the guide that lists the least amount out of KBB, edmunds, etc. I was told that KBB overestimates by a lot (in my case it was $4k).
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| Posted 8/30/10 9:26 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Car Buying Question
unfortunately you have no way of knowing.
What you should do if you decide to do that is negotiate the best deal you can and then before agreeing to it, tell them you have a trade. Yes, it's not honest when they keep asking you if you have a trade and you keep saying no, but this is all a game. Play it on your terms.
Most likely they will not let you walk out of there without signing a deal.
On the other hand, you are at the end of model year now and could negotiate a nice deal on a new car. If you want to finance, many dealers are offering 0% for tier 1 credit.
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| Posted 8/30/10 10:14 AM |
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MrsD529
LIF Infant
Member since 6/10 252 total posts
Name:
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Re: Car Buying Question
Posted by Blu-ize
unfortunately you have no way of knowing.
What you should do if you decide to do that is negotiate the best deal you can and then before agreeing to it, tell them you have a trade. Yes, it's not honest when they keep asking you if you have a trade and you keep saying no, but this is all a game. Play it on your terms.
Most likely they will not let you walk out of there without signing a deal.
On the other hand, you are at the end of model year now and could negotiate a nice deal on a new car. If you want to finance, many dealers are offering 0% for tier 1 credit.
yeah im in a toss up. i have a coupe right now and in a bout a year we are going to TTC. Im thinking about getting a 4 door now, which would prob be an altima. If not, I will keep my coupe til next year when I hopefully get pregnant. But I dont want to get screwed next year and have the dealer NOT match my loan. That would really suckk!
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| Posted 8/30/10 11:13 AM |
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