Club3G Forums - View Single Post

Jabber · 08/26/2008, 02:49 PM

After researching your trade in amount, both of you guys are off by a little bit. Manheim (auction site website which tells ddealers what recent ones have sold for at auction) has a small sampling, but the fair trade-in amount should be between 8-8.5k assuming good condition, clean title, etc.

The RX8 shows a value of about 10,500 assuming no accidents. If it was in a previous accident, the value drops by 1-2k. After reconditioning, transportation costs from the auction, buy fees, etc, figure they own it for 11,250-11,500. So they are not asking for alot of profit. But, since I can't see if it was, you'll have to be my eyes and ears. Did you check for paintwork on the edge of the hood near the cowl? How about the edges of the trunk and fenders? If you run your fingers along those, you shouldn't feel any paint lines or sharp edges, it should be as smooth as paint in the middle of a hood. If you feel an edge, it was re-painted for whatever reason, and you should walk away.

The reason he wants you to put down 2,500 is to cover the difference between your trade in and the payoff plus taxes. NADA guide is what most banks use to figure the amount they will lend on a car. NADA shows 10,600. Most banks will give 120% of NADA so this shows me the max they will loan is 12,720. That is why they want the 2500 down. All of these numbers assume good credit. Banks will adjust the amount borrowed based on credit score.

If you really want the car, and have walked around it for previous damage (the condensation in taillights is fairly common to alot of cars and doesn't really scare me), tell them that you are only willing to put down $1,500. Tell them you have a friend that looked both cars up on Manheim (like the steam rollers from christmas time). He says the RX8 is a fair price and is giving you some profit, but you are light on my trade by $1,000. "If you want me to do the deal, right now, use $1,500 with an amount to finance of $12,500".

That is how I would go about it if I were you.

Cliffs:

1) Walk around the car real good to insure no previous damage.
2) Offer 14k out the door and you'll put 1,500 down to finance 12,500. That is a fair deal to both you and them, assuming no damage on either car. If they offer to split it, go ahead and do it. But, that should be the MOST you pay. Don't cave in for one or two hundred bucks.

08/26/2008, 02:49 PM	#64 (permalink)
Jabber insert funny title Sky Wire Champion! Join Date: Feb 2005 Location: Chicago Vehicle: 2003 Audi A6 2.7t quattro Posts: 4,773	After researching your trade in amount, both of you guys are off by a little bit. Manheim (auction site website which tells ddealers what recent ones have sold for at auction) has a small sampling, but the fair trade-in amount should be between 8-8.5k assuming good condition, clean title, etc. The RX8 shows a value of about 10,500 assuming no accidents. If it was in a previous accident, the value drops by 1-2k. After reconditioning, transportation costs from the auction, buy fees, etc, figure they own it for 11,250-11,500. So they are not asking for alot of profit. But, since I can't see if it was, you'll have to be my eyes and ears. Did you check for paintwork on the edge of the hood near the cowl? How about the edges of the trunk and fenders? If you run your fingers along those, you shouldn't feel any paint lines or sharp edges, it should be as smooth as paint in the middle of a hood. If you feel an edge, it was re-painted for whatever reason, and you should walk away. The reason he wants you to put down 2,500 is to cover the difference between your trade in and the payoff plus taxes. NADA guide is what most banks use to figure the amount they will lend on a car. NADA shows 10,600. Most banks will give 120% of NADA so this shows me the max they will loan is 12,720. That is why they want the 2500 down. All of these numbers assume good credit. Banks will adjust the amount borrowed based on credit score. If you really want the car, and have walked around it for previous damage (the condensation in taillights is fairly common to alot of cars and doesn't really scare me), tell them that you are only willing to put down $1,500. Tell them you have a friend that looked both cars up on Manheim (like the steam rollers from christmas time). He says the RX8 is a fair price and is giving you some profit, but you are light on my trade by $1,000. "If you want me to do the deal, right now, use $1,500 with an amount to finance of $12,500". That is how I would go about it if I were you. Cliffs: 1) Walk around the car real good to insure no previous damage. 2) Offer 14k out the door and you'll put 1,500 down to finance 12,500. That is a fair deal to both you and them, assuming no damage on either car. If they offer to split it, go ahead and do it. But, that should be the MOST you pay. Don't cave in for one or two hundred bucks. Last edited by Jabber; 08/26/2008 at 02:52 PM.