Need Help on Dealer Trade-In
06-07-2005, 08:45 PM
#1
Need Help on Dealer Trade-In
As some of you might've read my other two threads,
I will be trading in my 03 Altima 2.5s for the Z next week.
However, there's one headache: There are numurous scratches
and one ding all over the car. And both front and back bumpers have to be
repainted for sure.
So I took it to the bodyshop...and he offered me very good price for
fixing and painting: Both bumpers, all 4 doors, both front fenders, and both rear panels.
I will be putting the car in the shop on thursday, however a few of my friends
and family members insisted it's not a good move, because that's like painting
almost the whole car and the car's color would be a little off from factory color.
So they suggested just repainting both bumpers only and trade in the car
as-is.
But wouldn't the dealer rape me on the trade in value price?
This is my first time trading-in a car so I don't really know how appraising
process works.
Besides the bumper damage I have:
1. Ding in driver door, rear left door, rear left panel
2. Minor scratches/chips on left fender, rear left door, and rear right panel
Just about how much would dealer deduct? Hundreds? Thousands???
I know they'll try to rape me on trade-in even if it was in perfect condition,
now even more...
What should I do guys? Just fix the bumpers and turn it in AS-IS,
or try fixing the entire car and risk the outcome?
BTW my trade-in value is about $11500 if in perfect condition..I still owe about the same amount on the loan.
Private sell is no option cuz I'm in a hurry, and also lazy-_-;;
Your helps are greatly appreciated.
I wish to hurry up and join you guys as a proud owner of the Z
I will be trading in my 03 Altima 2.5s for the Z next week.
However, there's one headache: There are numurous scratches
and one ding all over the car. And both front and back bumpers have to be
repainted for sure.
So I took it to the bodyshop...and he offered me very good price for
fixing and painting: Both bumpers, all 4 doors, both front fenders, and both rear panels.
I will be putting the car in the shop on thursday, however a few of my friends
and family members insisted it's not a good move, because that's like painting
almost the whole car and the car's color would be a little off from factory color.
So they suggested just repainting both bumpers only and trade in the car
as-is.
But wouldn't the dealer rape me on the trade in value price?
This is my first time trading-in a car so I don't really know how appraising
process works.
Besides the bumper damage I have:
1. Ding in driver door, rear left door, rear left panel
2. Minor scratches/chips on left fender, rear left door, and rear right panel
Just about how much would dealer deduct? Hundreds? Thousands???
I know they'll try to rape me on trade-in even if it was in perfect condition,
now even more...
What should I do guys? Just fix the bumpers and turn it in AS-IS,
or try fixing the entire car and risk the outcome?
BTW my trade-in value is about $11500 if in perfect condition..I still owe about the same amount on the loan.
Private sell is no option cuz I'm in a hurry, and also lazy-_-;;
Your helps are greatly appreciated.
I wish to hurry up and join you guys as a proud owner of the Z
Last edited by gsazabi; 06-07-2005 at 08:48 PM. Reason: Misspelling
06-07-2005, 09:38 PM
#2
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I'm not 100% sure, but my gut instinct says to trade it in as is... my logic behind that is:
1) They might just wholesell it
2) They can repair it cheaper than you can
If you put 100 dollars into repair, the trade in value of the vehicle doesn't go up 100...
I'd ask a reputable dealer, see what they say...
Or ask a dis-reputable dealer and do the opposite of what they say.
If you want, I can give you the number of the guy I bought my Z from, a few weeks ago. Stand up guy, no bs from him (at least when I dealt with him) and Thousand Oaks isn't too far from Northridge...
1) They might just wholesell it
2) They can repair it cheaper than you can
If you put 100 dollars into repair, the trade in value of the vehicle doesn't go up 100...
I'd ask a reputable dealer, see what they say...
Or ask a dis-reputable dealer and do the opposite of what they say.
If you want, I can give you the number of the guy I bought my Z from, a few weeks ago. Stand up guy, no bs from him (at least when I dealt with him) and Thousand Oaks isn't too far from Northridge...
06-07-2005, 10:23 PM
#3
Originally Posted by Stuff
I'm not 100% sure, but my gut instinct says to trade it in as is... my logic behind that is:
1) They might just wholesell it
2) They can repair it cheaper than you can
If you put 100 dollars into repair, the trade in value of the vehicle doesn't go up 100...
I'd ask a reputable dealer, see what they say...
Or ask a dis-reputable dealer and do the opposite of what they say.
If you want, I can give you the number of the guy I bought my Z from, a few weeks ago. Stand up guy, no bs from him (at least when I dealt with him) and Thousand Oaks isn't too far from Northridge...
1) They might just wholesell it
2) They can repair it cheaper than you can
If you put 100 dollars into repair, the trade in value of the vehicle doesn't go up 100...
I'd ask a reputable dealer, see what they say...
Or ask a dis-reputable dealer and do the opposite of what they say.
If you want, I can give you the number of the guy I bought my Z from, a few weeks ago. Stand up guy, no bs from him (at least when I dealt with him) and Thousand Oaks isn't too far from Northridge...
Ya TO is pretty close to Northridge, but they don't seem to have 6MT Enthu. trim i'm looking for.
Regardless, I will still call them for possible inventory. Would you mind giving
the dude's name and #? Thanks!
06-08-2005, 06:36 AM
#4
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DO NOT......put any more money into that Altima! You will not gain anything buy spending any more cash on that car. Trade it in as-is, or if you want to do it right sell it outright on autotrader, and use the equity for something else!
06-08-2005, 07:17 AM
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definately do not put any money into the car. as long as its just the minor stuff you are referring to, it really has no bearing on the dealer. they have contracts with area body shops and repair people who come in and bring the car back its new look. this goes from everything interior (cigarette burns, cracks) to exterior scratches and minor dents. Costs the dealer nothing other than their usual monthly payment to the body shop or repair person.
hell i wouldnt even let these blemishes keep you from asking for an aggressive trade-in value. in other words dont let them low ball you too much cause of the scratches. if they do not give you what you want, you can always go to another dealer that will.
hell i wouldnt even let these blemishes keep you from asking for an aggressive trade-in value. in other words dont let them low ball you too much cause of the scratches. if they do not give you what you want, you can always go to another dealer that will.
06-08-2005, 07:27 AM
#6
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I have to agree with others don't put anymore money into the Altima. They won't give you more that is for sure. Since you say you owe almost what it is worth you might end up in the loss side meaning have to add money to your Z loan. Mostly from what I have seen they just make sure everything works on the car and runs good. So they might take off 100-300 for the dings. Welcome to the Z club when you get it.
06-08-2005, 08:19 AM
#7
Alright guys I've decided to trade in AS-IS.
One more question, the rear bumper damage is pretty bad~
It was involved in a minor accident-no dents but almost the whole
bumper is scratched and the other car's licence plate is imprinted
The accident isn't recorded, and I was thinking about at least fixing
the rear bumper cuz it looks pretty obvious I got into an accident (actually hit and run)
Or would it be alright not even fixing that???
One more question, the rear bumper damage is pretty bad~
It was involved in a minor accident-no dents but almost the whole
bumper is scratched and the other car's licence plate is imprinted
The accident isn't recorded, and I was thinking about at least fixing
the rear bumper cuz it looks pretty obvious I got into an accident (actually hit and run)
Or would it be alright not even fixing that???
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06-08-2005, 08:31 AM
#8
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A painted new bumper cover might cost the stealership about 100.00...it will cost you 4 to 5 times that much. From the sounds of it you will be lucky to get 8k trade-in.
If you want to clean the car up then sell it privately. You can maybe sell it for what you owe, and not be upside down walking into a 30K dollar sportscar.
If you want to clean the car up then sell it privately. You can maybe sell it for what you owe, and not be upside down walking into a 30K dollar sportscar.
06-08-2005, 08:56 AM
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I agree, trade it as is. If you're wondering how much they'll ding you on trade, go to another Nissan dealer and act like you're interested in trading. Have them give you a price for your Altima.
Oh, and TAKE BETTER CARE OF THE Z!!!!
Oh, and TAKE BETTER CARE OF THE Z!!!!
06-08-2005, 09:22 AM
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I have a feeling JoeysZ might be pretty close with that $8K number. Good luck.
Oh, and I agree with others who said not to fix it. They may tell you they are deducting for that stuff, but, really, you MIGHT get them to give you $8500 if it didn't have those scratches. Most times they go by the auction reports and add or subtract a few hundred based on condition and miles. A low mileage, absolutely perfect example of an '03 2.5S might get them to go as high as $9K, for example.
And they are going to know you got it painted, so its not like you'd be hiding anything, you'd just be taking care of the legwork for them (not to mention paying more for the repairs than they would).
Oh, and I agree with others who said not to fix it. They may tell you they are deducting for that stuff, but, really, you MIGHT get them to give you $8500 if it didn't have those scratches. Most times they go by the auction reports and add or subtract a few hundred based on condition and miles. A low mileage, absolutely perfect example of an '03 2.5S might get them to go as high as $9K, for example.
And they are going to know you got it painted, so its not like you'd be hiding anything, you'd just be taking care of the legwork for them (not to mention paying more for the repairs than they would).
06-08-2005, 04:48 PM
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It's easy for a trainer professional to spot aftermarket paint . . . just take a look at it under some fluorescent lights and look for orange peel or light sanding / buffing.
Trade it in as is . . . odds are, they will just auction it off anyways.
G
Trade it in as is . . . odds are, they will just auction it off anyways.
G
06-08-2005, 05:31 PM
#13
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Trade-In Value
Do Not Put Any More Money in that car. STUFF got it right. The dealer has a lot more options on what to do with trade-ins than you do as a single owner. They will do what they will do. You didn't mention if you already had a trade value established with the dealer. If not, go to kbb.com, look up your Altima there, get the trade-in value and have that info at hand when you go to the dealer.
Of course, if it's a high mileage car, they already take into account the fact that the car's finish won't be pristine. Given that you shouldn't have to take a big hit on the trade value. In fact, I bet they try that and will give you a trade value that is really low. That's why you need the trade-in value from kbb.com to make sure they aren't taking advantage of you.
Do the research but never, ever, pour money into a car you are about to trade. Just do your homework, negotiate your trade value against the sale price of the new vehicle and let the dealer do what they will with the trade.
If ya want some advice on negotiating the trade price and the new car price, PM me. I'd be glad to help. I have extensive experience with dealer practices and how to squeeze the sleazy bastids til they give in. <G>
Of course, if it's a high mileage car, they already take into account the fact that the car's finish won't be pristine. Given that you shouldn't have to take a big hit on the trade value. In fact, I bet they try that and will give you a trade value that is really low. That's why you need the trade-in value from kbb.com to make sure they aren't taking advantage of you.
Do the research but never, ever, pour money into a car you are about to trade. Just do your homework, negotiate your trade value against the sale price of the new vehicle and let the dealer do what they will with the trade.
If ya want some advice on negotiating the trade price and the new car price, PM me. I'd be glad to help. I have extensive experience with dealer practices and how to squeeze the sleazy bastids til they give in. <G>
Last edited by MADDOG`; 06-08-2005 at 05:33 PM.
06-08-2005, 06:24 PM
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Patience is your friend...
Fix the car up cheaply, sell it on autotrader...
New car buyers who are impatient will get screwed on trade-in...
Dealer wanted to give me $9,000 for my truck...I sold it via autotrader
in 8 days for $13,750...put $10K down on my Z, have the rest for mods...
Fix the car up cheaply, sell it on autotrader...
New car buyers who are impatient will get screwed on trade-in...
Dealer wanted to give me $9,000 for my truck...I sold it via autotrader
in 8 days for $13,750...put $10K down on my Z, have the rest for mods...
06-08-2005, 06:47 PM
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I already sense what will happen here.
1. Buyer wants to rid his beaten up ALtima.
2. Buyers owes $11,500 on an ALtima that needs body work.
3, Buyer will get sucked into to buying the Z, and forget about how much the dealer will give him on the Altima. $10 they work the payment plan and extend the months to like 72 or 84 months.
This is simple, its called being Upside Down on a Loan, which in your case is your loss and the dealers gain.
They will win this one, make you do a promise to pay, ie get the car fixed or low ball you so low and add the difference to your Z. You'll end up paying for a Roadster and you get a Base Model.
Not to be mean but I hope you get Gap insurance. How much $ are you putting down on the Z?
The dealer will butt rape you, I promise! They will add up all the damage, tell you it costs $5K to fix, when it costs them maybe $800 and deduct $5K from $11500.
Watch the low ball tactics. Stealerships never lose!
One of my dumbass co-workers bought a 03 V-6 RUSTANG and after all said and done, he is paying $29K for it. WTF was he thinking. He took it back 3 weeks later cause financing fell through, guess what, the dealer charged him $850 for rental charges, $50 a day + mileage. HA HA!
He tried to trade his 03 Geo Tracker (horrible resale) He owed $14K, dealer gave him $8K, tacked on $6K to the 03 Mustang Loan, and then made him sign a promise to pay to fix the hail damage on the Tracker. Man what a moron. They added $2K extended warranty, $1500.00 life insurance, $199 Security System, gap insurance, and many more rip off add ons.
Needless to say he is back in his 03 Geo Tracker and out $850. He also took a loan of $2K for a downpayment on the Mustang and is paying 20% interest, some people just are born stupid!
GL on your deal, I hope you get a good deal, its worth a shot! Keep us informed, you will love the Z, if you get one!
1. Buyer wants to rid his beaten up ALtima.
2. Buyers owes $11,500 on an ALtima that needs body work.
3, Buyer will get sucked into to buying the Z, and forget about how much the dealer will give him on the Altima. $10 they work the payment plan and extend the months to like 72 or 84 months.
This is simple, its called being Upside Down on a Loan, which in your case is your loss and the dealers gain.
They will win this one, make you do a promise to pay, ie get the car fixed or low ball you so low and add the difference to your Z. You'll end up paying for a Roadster and you get a Base Model.
Not to be mean but I hope you get Gap insurance. How much $ are you putting down on the Z?
The dealer will butt rape you, I promise! They will add up all the damage, tell you it costs $5K to fix, when it costs them maybe $800 and deduct $5K from $11500.
Watch the low ball tactics. Stealerships never lose!
One of my dumbass co-workers bought a 03 V-6 RUSTANG and after all said and done, he is paying $29K for it. WTF was he thinking. He took it back 3 weeks later cause financing fell through, guess what, the dealer charged him $850 for rental charges, $50 a day + mileage. HA HA!
He tried to trade his 03 Geo Tracker (horrible resale) He owed $14K, dealer gave him $8K, tacked on $6K to the 03 Mustang Loan, and then made him sign a promise to pay to fix the hail damage on the Tracker. Man what a moron. They added $2K extended warranty, $1500.00 life insurance, $199 Security System, gap insurance, and many more rip off add ons.
Needless to say he is back in his 03 Geo Tracker and out $850. He also took a loan of $2K for a downpayment on the Mustang and is paying 20% interest, some people just are born stupid!
GL on your deal, I hope you get a good deal, its worth a shot! Keep us informed, you will love the Z, if you get one!
Last edited by zand02max; 06-08-2005 at 07:04 PM.
06-08-2005, 06:57 PM
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I agree with the above. Don't put any money into the trade in. It would be cheaper for the dealer to fix the car up and move it along. Use the money you save for the Z.
06-08-2005, 10:32 PM
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Originally Posted by gsazabi
Hey Stuff thanks for your input=) I'm guessing you're referring to Nissan of Thousand Oaks?
Ya TO is pretty close to Northridge, but they don't seem to have 6MT Enthu. trim i'm looking for.
Regardless, I will still call them for possible inventory. Would you mind giving
the dude's name and #? Thanks!
Ya TO is pretty close to Northridge, but they don't seem to have 6MT Enthu. trim i'm looking for.
Regardless, I will still call them for possible inventory. Would you mind giving
the dude's name and #? Thanks!
oh, I think I forgot to mention their number is (805) 497-4515.
Heh, I checked the inventory of the 3 closest dealers to me and that 6mt ent. is pretty hard to find... the closest one was Santa Barbara...
06-08-2005, 11:58 PM
#18
Man I'm getting really discouraged now=(
I know I'll lose alotta money, but I HAVE to get the Z this Sat!
All I ask for it is $8000 on the trade in (which I doubt I will get)
and get the car up to $33,000 OTD including my upside down balance. (on Enthu.)
If it's higher than that I'll just forget it for now-_-
BTW my 03 Altima has 44,000miles on it. I will be putting down 10G for the Z.
Just checked my credit score : 718
Not bad...but not as high as I hoped it would be after all these years of payments=(
I think the score would've been higher if it was updated with my current credit card balance, which is a LOT lower.
I thought they update that shiet every day
I know I'll lose alotta money, but I HAVE to get the Z this Sat!
All I ask for it is $8000 on the trade in (which I doubt I will get)
and get the car up to $33,000 OTD including my upside down balance. (on Enthu.)
If it's higher than that I'll just forget it for now-_-
BTW my 03 Altima has 44,000miles on it. I will be putting down 10G for the Z.
Just checked my credit score : 718
Not bad...but not as high as I hoped it would be after all these years of payments=(
I think the score would've been higher if it was updated with my current credit card balance, which is a LOT lower.
I thought they update that shiet every day
06-09-2005, 06:22 AM
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credit reports are slow to update. but there's NOTHING wrong with 718. I know plenty of people who would kill for that score.
44K miles!! That's a killer on top of all the damage. Good luck!
44K miles!! That's a killer on top of all the damage. Good luck!
06-09-2005, 11:30 AM
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If you've got 10G for a down payment, why not sell the Altima yourself, use what you need to pay off your loan and the rest for the down payment on the Z. You'll save a bunch.
Trust me, don't f*ck your financial picture by paying too much for the Z.
Trust me, don't f*ck your financial picture by paying too much for the Z.