This is topic opinons/help on trading in an auto in forum General Talk at Northern California Ford Owners  .


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Posted by 94gt (Member # 3060) on :
 
my g/f has a 2001 mitsubishi eclipse that whe wants to trade in towards an 00-04 mustang gt.

But 20k is owed, kbb says about 9-10k but they paint isnt looking too good on the roof.

she wants to ditch the eclipse and get a stang, but we are both unsure about how to not get jipped, any suggestions??
 
Posted by 5.0-srt-4 (Member # 5864) on :
 
if you pwe 20k on that u already got jipped lol sry bro.....got gap ins lol jk good luck
 
Posted by Apexmotorsports (Member # 5307) on :
 
If you owe 20K on the Eclipse you will have a hard time finding someone to take it in on a trade when you are upside down $10K.

The ONLY way you will be able to trade it in is- the dealer takes your Eclipse, gives you $8K and tacks on the $12K you are under to the price of the new car.


Mike Mak
Apex Motorsports
ApexMotorsports.com
2555 Lafayette Blvd. Suite #122
Santa Clara, CA 95054
Phone: 408/588-0075 Fax: 408/588-0089

Griggs Racing, Maximum Motorsports, Evolution Motosports, SCT, Racelogic, H&R, Ford racing, Kenne Bell, MAC, Bassani, Vortech, Koni, Hawk, AFR, Tokico, Baer Racing, Magnaflow, Flowmaster, Diablosport, $3 Nitrous Refill
 
Posted by outlawd94cobra (Member # 265) on :
 
quote:
Originally posted by Apexmotorsports:
If you owe 20K on the Eclipse you will have a hard time finding someone to take it in on a trade when you are upside down $10K.

The ONLY way you will be able to trade it in is- the dealer takes your Eclipse, gives you $8K and tacks on the $12K you are under to the price of the new car.


Mike Mak
Apex Motorsports
ApexMotorsports.com
2555 Lafayette Blvd. Suite #122
Santa Clara, CA 95054
Phone: 408/588-0075 Fax: 408/588-0089

Griggs Racing, Maximum Motorsports, Evolution Motosports, SCT, Racelogic, H&R, Ford racing, Kenne Bell, MAC, Bassani, Vortech, Koni, Hawk, AFR, Tokico, Baer Racing, Magnaflow, Flowmaster, Diablosport, $3 Nitrous Refill
He's right, you'd be lucky if the dealer gives you 7K for the car. She'd be paying 30k+ for a 20k car.

[ September 26, 2005, 01:22 AM: Message edited by: outlawd94cobra ]
 
Posted by 9Venom9 (Member # 2805) on :
 
Sorry man but it looks like your stuck with the Eclipse.
 
Posted by blind (Member # 3052) on :
 
got gap insurance? leave it parked with the keys in it, door open, engine running in oakland [worship] [worship] [Big Grin]
 
Posted by AL STOCK (Member # 1852) on :
 
quote:
Originally posted by blind:
got gap insurance? leave it parked with the keys in it, door open, engine running in oakland [worship] [worship] [Big Grin]
[Whoo Whooooo!]
 
Posted by 94gt (Member # 3060) on :
 
quote:
Originally posted by Apexmotorsports:
If you owe 20K on the Eclipse you will have a hard time finding someone to take it in on a trade when you are upside down $10K.

The ONLY way you will be able to trade it in is- the dealer takes your Eclipse, gives you $8K and tacks on the $12K you are under to the price of the new car.


Mike Mak
Apex Motorsports
ApexMotorsports.com
2555 Lafayette Blvd. Suite #122
Santa Clara, CA 95054
Phone: 408/588-0075 Fax: 408/588-0089

Griggs Racing, Maximum Motorsports, Evolution Motosports, SCT, Racelogic, H&R, Ford racing, Kenne Bell, MAC, Bassani, Vortech, Koni, Hawk, AFR, Tokico, Baer Racing, Magnaflow, Flowmaster, Diablosport, $3 Nitrous Refill
whoa... I dont owe shit on the car, lol... I'm just trying to think of ways to help her out. She knows she got screwed, and I know that *if* she could find a place to take her car in, that she would be "upside down" at about 12k.

thanks for the input and reccomendations guys! [patriot]
 
Posted by 02GeeTee (Member # 5905) on :
 
quote:
Originally posted by AL STOCK:
quote:
Originally posted by blind:
got gap insurance? leave it parked with the keys in it, door open, engine running in oakland [worship] [worship] [Big Grin]
[Whoo Whooooo!]
I got gap insurance..Hmmm..
 
Posted by Luke87GT (Member # 21) on :
 
Sounds like you are screwed anyway you move forward...

I like Blind's idea (:
 
Posted by 94gt (Member # 3060) on :
 
its not my car! lol
Ive been telling her to just start dumping every extra dollar she has into the loan to get it down fast.
but then she brought up the point of being able to just trade it in, and still have the negative value of her eclipse tacked onto the new(used) car. FWIW, she was looking at a 01-04gt
 
Posted by Red00GT (Member # 5653) on :
 
wow! [Eek!] she owes 20K on the eclipse!! how much did she pay for that thing? 30+ [Razz]

for real though..the dealer will tack on whats left of the loan onto the new car..so for a 2001GT which would be around 12-16K maybe more..because of gay ass dealers these days...she will be payin 28-30K on a 2001GT..wow..just wow.. [Razz]
 
Posted by bunchmyfunky (Member # 360) on :
 
quote:
Originally posted by 94gt:
its not my car! lol
Ive been telling her to just start dumping every extra dollar she has into the loan to get it down fast.
but then she brought up the point of being able to just trade it in, and still have the negative value of her eclipse tacked onto the new(used) car. FWIW, she was looking at a 01-04gt
Put some stickers on the eclipes a fart can and a nice big wing. Some kid will buy it for 20k [Smile] then go out and spend 12k or less on an 01 GT.
 
Posted by 94gt (Member # 3060) on :
 
quote:
Originally posted by bunchmyfunky:
quote:
Originally posted by 94gt:
its not my car! lol
Ive been telling her to just start dumping every extra dollar she has into the loan to get it down fast.
but then she brought up the point of being able to just trade it in, and still have the negative value of her eclipse tacked onto the new(used) car. FWIW, she was looking at a 01-04gt
Put some stickers on the eclipes a fart can and a nice big wing. Some kid will buy it for 20k [Smile] then go out and spend 12k or less on an 01 GT.
she already has an exhaust, stereo, and rims... and a brake kit that ive been too lazy to put on lol
 
Posted by MINGRYGT (Member # 2439) on :
 
Just to let you know, if your buried in your car, the only way to trade your car in is to either buy the car for 5000 back of book or put down a lot of money. A lender will only lend a certain percentage of the cars value. In your case your best bet would be to go to a credit union, because they will lend upto 125 % of kbb retail. Thats only if you have "A" credit.. Example: 02 GT kbb retail is $16,370. 125% is $20,452. that # includes tax and license as well.. another good thing to know is when buying a car dealers dont pay for mile adds on the book value but c/u will finance the extra value.. basically find a 01-04 GT with super low miles come with enough to pay for tax and license and your good. And just so you know this is what I do for a living.
 
Posted by 02GeeTee (Member # 5905) on :
 
quote:
Originally posted by 94gt:
quote:
Originally posted by bunchmyfunky:
quote:
Originally posted by 94gt:
its not my car! lol
Ive been telling her to just start dumping every extra dollar she has into the loan to get it down fast.
but then she brought up the point of being able to just trade it in, and still have the negative value of her eclipse tacked onto the new(used) car. FWIW, she was looking at a 01-04gt
Put some stickers on the eclipes a fart can and a nice big wing. Some kid will buy it for 20k [Smile] then go out and spend 12k or less on an 01 GT.
she already has an exhaust, stereo, and rims... and a brake kit that ive been too lazy to put on lol
Well, I would beo lazy also to put a brake kit on an Eclipse. [Razz]
 




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