Automotive

How do you make sure you're getting a fair deal on your trade in with a dealership?

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  • Aug 21st, 2019 11:50 am
Sr. Member
Sep 13, 2012
897 posts
470 upvotes
Vaughan, ON
binarynumber wrote: Is it wrong in being lazy & asking around? It's my first car & I don't have much experience with the market.
Don’t take it personally. When you said personal reasons do those outweigh the positive equity you mentioned? How many KMs on your 2010?
[OP]
Member
Feb 10, 2018
210 posts
36 upvotes
100Pacer wrote: Don’t take it personally. When you said personal reasons do those outweigh the positive equity you mentioned? How many KMs on your 2010?
Honestly, I didn't but it was more of a curious question. Well, my wife's supposed to be here soon & I would much rather get something safer for her than my current civic.
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Apr 24, 2006
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peteryorkuca wrote: Only scam with dealer trade-in is they will low-ball you like $1000 for your old civic. Best to drive around to all the dealers in town and sell to the guy who gave you the best deal.

Example, MB offered $5k more for my junker then Nissan. I was real insulted when nissan did that even when I was a repeated customer.
never done this before, but dealer buys your car without you buying theirs? You just don't get the tax savings correct?
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Jul 26, 2007
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White Comet wrote: never done this before, but dealer buys your car without you buying theirs? You just don't get the tax savings correct?
They do, they pay you plus hst. Unfortunately, even though I took MB cheque for my old car, I leased one from them as well in the end. I doubt I work have gotten $5k more if I didn't buy a car from them.
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Jun 26, 2009
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binarynumber wrote:

I am bit familiar about the price actually so I am expecting around 5k on trade in.
That's what I was thinking too. I have no idea where Xtrema finds " top shape 2010 Civics" for $3K?? I would buy like 5 and sell them easily for good profit.
Deal Guru
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Oct 6, 2010
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Toronto
I'm confused. You say you have a 2010 civic that you owe money on, been in an accident, don't list the mileage, yet you feel you have positive equity?

I don't understand how people think civics are worth their weight in gold. I would never pay $5000k for a 9 year old civic, let alone one with accident history and being generous to say only 200,000kms.

Want a new car, sell it privately if you can handle the mess of doing so and try to get more than what you would for a trade in. That's the options OP.

Is it safe to say that you owe like $5000 on a 9 year old civic but you feel it's worth more perhaps due to less than 200,000kms?
Deal Guru
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Oct 5, 2008
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koffey wrote: I'm confused. You say you have a 2010 civic that you owe money on, been in an accident, don't list the mileage, yet you feel you have positive equity?

I don't understand how people think civics are worth their weight in gold. I would never pay $5000k for a 9 year old civic, let alone one with accident history and being generous to say only 200,000kms.

Want a new car, sell it privately if you can handle the mess of doing so and try to get more than what you would for a trade in. That's the options OP.

Is it safe to say that you owe like $5000 on a 9 year old civic but you feel it's worth more perhaps due to less than 200,000kms?
Bingo.

You somehow still owe money on a 9 year old economy car yet you want to get a new one one?

Rinse and repeat?
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Nov 21, 2013
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Problems these days is credit is very easy to get. I don't want to be unpleasant, or off topic, OP do not take it personnaly, but this is a real issue. Having a 9 years old car that is not completely paid is a problem. Some people owe more than what vehicle worth. With all those "promotions" 0% on a 84 months loan many people have to carry a "baloon" over another car, or, at the end of the 84 months the car worth nothing
[OP]
Member
Feb 10, 2018
210 posts
36 upvotes
koffey wrote: I'm confused. You say you have a 2010 civic that you owe money on, been in an accident, don't list the mileage, yet you feel you have positive equity?

I don't understand how people think civics are worth their weight in gold. I would never pay $5000k for a 9 year old civic, let alone one with accident history and being generous to say only 200,000kms.

Want a new car, sell it privately if you can handle the mess of doing so and try to get more than what you would for a trade in. That's the options OP.

Is it safe to say that you owe like $5000 on a 9 year old civic but you feel it's worth more perhaps due to less than 200,000kms?
I am not the first owner FYI. I bought this car in 2016. Everyone wants to sell their car for a fair price & everyone has their preferences.
[OP]
Member
Feb 10, 2018
210 posts
36 upvotes
DoorCrasher wrote: Problems these days is credit is very easy to get. I don't want to be unpleasant, or off topic, OP do not take it personnaly, but this is a real issue. Having a 9 years old car that is not completely paid is a problem. Some people owe more than what vehicle worth. With all those "promotions" 0% on a 84 months loan many people have to carry a "baloon" over another car, or, at the end of the 84 months the car worth nothing
My lien on the car was for 4 years & I am not the first owner. I got this car in 2016 so I was aware of the fact that I won't be keeping this car for long. In fact I put 4k down when I got this one.
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Oct 6, 2010
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binarynumber wrote: I am not the first owner FYI. I bought this car in 2016. Everyone wants to sell their car for a fair price & everyone has their preferences.
Yes everyone has preferences but my statement stands.
koffey wrote: I'm confused. You say you have a 2010 civic that you owe money on, been in an accident, don't list the mileage, yet you feel you have positive equity?

I don't understand how people think civics are worth their weight in gold. I would never pay $5000k for a 9 year old civic, let alone one with accident history and being generous to say only 200,000kms.

Want a new car, sell it privately if you can handle the mess of doing so and try to get more than what you would for a trade in. That's the options OP.

Is it safe to say that you owe like $5000 on a 9 year old civic but you feel it's worth more perhaps due to less than 200,000kms?
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Oct 6, 2010
13309 posts
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binarynumber wrote: I am not taking anything personally (or may it sounds like I am) but I like the fact that people immediately start assuming OP has made stupid financial decisions & doesn't know stuff.
Cause your OP is full of nothing. You are asking everyone for advice on fair deal but you still didn't state how many kms, said it has an accident and you say you have positive equity, yet you magically assume your 2010 ecobox is worth more than you owe. It's all assumptions on our end based on your input and your critical of it. So either tell it all or don't ask cause you are getting the correct answers from people participating in your thread and you don't like what you are hearing.

You got a fair trade deal with $4500, you should have taken it.
Deal Addict
Nov 21, 2013
4488 posts
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OP You deleted the post... Let me say I am not assuming anything about your situation and the financial decisions you made when you first bought this used car . But don't think that you will sell this car for a ton of $$. You will obviously get less with a trade in at the dealer.
[OP]
Member
Feb 10, 2018
210 posts
36 upvotes
koffey wrote: Yes everyone has preferences but my statement stands.
It has only ~105k on it but I am not if that would make any difference for you. I see what you're trying to say. Even if I get 4k on the car, I am fine with it & its way more than what I owe on the car. But yeah I would have to spend some money to make it sellable. I already spent close to 1500 a month back on for front control arms & struts, so I don't think it makes sense to dump more money on the car. I would rather let the dealer handle the costs on it.
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Nov 21, 2013
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koffey wrote: Cause your OP is full of nothing. You are asking everyone for advice on fair deal but you still didn't state how many kms, said it has an accident and you say you have positive equity, yet you magically assume your 2010 ecobox is worth more than you owe. It's all assumptions on our end based on your input and your critical of it. So either tell it all or don't ask cause you are getting the correct answers from people participating in your thread and you don't like what you are hearing.

You got a fair trade deal with $4500, you should have taken it.
OP deleted the post you quoted. Maybe OP does not deserve RFD'ers help.... There is something fishy in this, OP is hiding important informations... How can we help him with good advices

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