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could i do this??

 
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  #1 (permalink)  
Old 19 Sep 2003, 01:17 pm
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Join Date: Dec 2002
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Default could i do this??

hello all, my wife has an 02 pt ( bought sept 01) do you think i could trade it in towards a new car?? with no money out of my pocket?? just curious any thoughts would be great
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Old 19 Sep 2003, 02:03 pm
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Check Kelly Blue Book (on line)... if you have $400 worth of equity someone will probably be more than happy to help you!
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Old 19 Sep 2003, 02:29 pm
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kelly blue book says trade in value of the 02 is 11,575 i know the pay off is higher than that
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Old 21 Sep 2003, 01:52 am
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Quote:
quote:Originally posted by bobs turbo pt

kelly blue book says trade in value of the 02 is 11,575 i know the pay off is higher than that
Bob,

I traded in an '02 for my '03 GT. At 12,000 miles, the local dealer was willing to go $12K trade-in. The maarket is flooded with used cars, due to all the incentives on new cars and the low interest rates. When I finally got serious about trading for the GT, my '02 had a little over 17K miles on it, and they started at $7K trade in. I got them up to $9K over the phone, and got a preliminary deal. When I drove to the dealership (50 miles each way), they got a look at my '02, and through progressive sales proposals, went through $9.5K, $10K, $10.5K; then I told them I would sleep on it. The salesman askes me to stay a few minutes longer, and went to get the new car Sales Manager. He turned the sale over to himat that point. I was asked what it would take to trade, and I gave a figure; against a price of 100 over invoice (which I had roughly confirmed using online shopping services). There was a $2500.00 incentive involved, and I was nice enough to let them either take that off the invoice + $100.00 deal, or add it in to the trade-in figure; still against the invoice + $100.00 price.

When the smoke had cleared, I got $13,750 out of my '02 against the '03 GT. With the rapid depreciation of new cars, and the large amounts of used cars on lots, many dealers are only trying to give what they can get at the auction as trade-in; even on late models. I went out as state to by my '03 GT in order to be able to purchase GAP insurance. As it was, I was driving the '02 with a replacement cost of $7K at the auction and a payoff of $15K. GAP is not offered in my state, so it was worth it to drive the extra, pay the additional for GAP (about $400.00), and suck wind for 2.5K carry over into the '03.
GT.

The dealers will tell you right away that they don't go by Kelly or Blue Book. The Auction proce is what they are going to use as a basis for trade-in.

Good luck. As year end approaches, the '03 models will start looking like inventory tax potential. When that starts to happen, there will be some good deals to be found. Either that, or your dealer has a "Foreign Trade Zone" close by to park the excess inventory for the end of the year inventory. I live in a port town, and we have such a facility close at hand. You would be surprised at what some will do to avoid taxes...
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Old 21 Sep 2003, 01:56 am
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I got my loaded 2003 GT for 23K in June. If you can find a 03 GT on a lot now, I know they will take a good offer.
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Old 22 Sep 2003, 11:55 am
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i am waiting for a phone call today, he says what its worth and what i owe are about 2,500 away so the rebate might close that gap, we will see what happens i will keep everyone posted!!
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Old 22 Sep 2003, 12:21 pm
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Join Date: Jul 2003
Location: ON, Canada.
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GTSteve, is that 23K out the door, all in?
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