3800 ?'s about trade ins

[frankenstinesy]

i've got a couple of questions about trade ins, and if i'm thinking right there's a couple of you who work for carmax, so i was was wondering if you could help me out. i've been wanting to trade my 99gt in for a 97+ gtp, but i still have approx 2 grand in payments left. would it be better to finish paying it off, or how would i go about with a trade in with still having payments left? would they just deduct the amount that i still owe from the trade in, or is it more complicated than that? thanks in advance for the help.

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[Royalgtp]

You are probably better off selling it on your own.

Then walk into the dealer with cash on hand and buy straight out.


I really dont think dealerships like to trade cars.......unless its a good deal to them.
Then they will probably hit you up wiht BS paper work fees, advertising fees, etc.....

 

[rjaz gtp]

If you sold it to Carmax they would appraise your car for $x,xxx.xx and then they would deduct what you owe on it and then cut you a check for that amount.

 

[Aircal]

Originally posted by RoyalGTP@Mar 23 2005, 03:44 PM
You are probably better off selling it on your own.

Then walk into the dealer with cash on hand and buy straight out.


I really dont think dealerships like to trade cars.......unless its a good deal to them.
Then they will probably hit you up wiht BS paper work fees, advertising fees, etc.....

[snapback]76526[/snapback]​

He was asking about CarMax, not about dealers.....lol
Depends on the value of your car and your credit. If you owe more than its worth with good credit you can roll that into a new loan( I don;t recommend it). Or you can cover some of the neg with a downpayment on the new vehicle. If you want to sell it outright any neg over $250 would need to be in certified funds.
If you go elsewhere, dont tell them you you have a trade until you settle on a price for the car you want. And go to Carmax in the mean time to get a price on what yours is worth. that way they can't play the game of giving you more for your trade but not the best price on the car you want.
And both of you go to carmax.com to look for your car you want then call me!..... :lolsign:

 

[frankenstinesy]

well, i was mainly interested in selling my car to carmax. i wasn't really interested in buying from them. i'm looking for a gtp and the couple that i saw were more than what i'm looking to spend. i don't have a cosigner and i don't know if i have enough credit built up to be able to get any of the gtp i saw on their website.

 

[MIKES3]

What are you payments per month. If you still have almost 2 years and you think the cars not going to make it. trade it in before something will cost more than its worth. If you have less than a year and the car runs decent you will make more money trading it in whenits paid off. What im doind is I pay my $430 a month for my car payment, but I put anpther $215 on the side in a savings. That way I will accumulate half of my loan. Then When my cars paid off in the next 3.5 years I wont be upside down, because I put on about 35k a year on my car give or take. I will have about $7800 saved with the $215 I put a side. I figure I will get about 5k for my car in the next 2-3 years. I will be about 2k upside down bythe time I unload this car. This is all just a rough estimate, but I'm willing to bet that its darn close

 

[frankenstinesy]

well, may payments are really low. they are about 130 a month or so with about 1.5 years left, i think. it's not that i think anything is gonna go wrong, it's just that i want a gtp, lol. i'm never happy for long with my cars.

 

[MIKES3]

I hear you. Be patient. What year do you plan on getting?

 

[frankenstinesy]

97-99 since that is what is probably gonna be in my price range

 

[Aircal]

Originally posted by MIKES3@Mar 23 2005, 05:34 PM
What are you payments per month. If you still have almost 2 years and you think the cars not going to make it. trade it in before something will cost more than its worth. If you have less than a year and the car runs decent you will make more money trading it in whenits paid off. What im doind is I pay my $430 a month for my car payment, but I put anpther $215 on the side in a savings. That way I will accumulate half of my loan. Then When my cars paid off in the next 3.5 years I wont be upside down, because I put on about 35k a year on my car give or take. I will have about $7800 saved with the $215 I put a side. I figure I will get about 5k for my car in the next 2-3 years. I will be about 2k upside down bythe time I unload this car. This is all just a rough estimate, but I'm willing to bet that its darn close

[snapback]76539[/snapback]​

Why wouldn't you pay an extra 215 a month on your loan and get rid of it sooner? You would pay less interest on it in most cases. Then put the whole amount away after you pay it off till your ready to get something else. And although savings rates are low now still better than paying.

 

[Aircal]

Originally posted by frankenstinesy@Mar 23 2005, 05:26 PM
well, i was mainly interested in selling my car to carmax. i wasn't really interested in buying from them. i'm looking for a gtp and the couple that i saw were more than what i'm looking to spend. i don't have a cosigner and i don't know if i have enough credit built up to be able to get any of the gtp i saw on their website.

[snapback]76538[/snapback]​

I found 3 for under 11k. Give me more to go on. Number of doors, color stuff like that. GP's are a big seller and turn over quickly. Which is good for you cause we get them in all the time. Good thing about being part of a GP club is lots of eyes out there to help you find a quality one. Even if its not from carmax.
You too Royal, let me know what your looking for.

 

[frankenstinesy]

i'm not picky. color isn't a big deal, but i'd prefer not white, green or tan, but the gold is ok. black is a little iffy too, too hard to keep clean. preferably 2 doors, but having 4 wouldn't kill me. i could care less about leather. hot in the summer and cold in the winter. basically all the other options are nice, but not necessities( such as steering wheel controls, heated seats, hud, and bose. i'm not possitive but i'm assuming the most gtp come with those though). mileage: preferably under 80k. that's what i'm looking for, but like i said, i'm not picky. but the main problem is my credit cuz i'm not sure if i have enough established.