Dealership offers to swap my Old car for a completely New one!
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My son recently did this with a Nissan Altima. Not only were his payments the same between to older Altima and the new one (of course new terms for length), but he even got a stepped up model because it was the last day and my son knew how to push back at the salesman.
Yeah I thought so and I asked him if my remaining payments are gonna be the same. He said yes, I wouldn't pay anymore than what payments are remaining.
NO WAY!
My friend gets these offers all the time from the same dealer and she always takes them up on it. Her payments don't increase , but her loan term does. And of course it does because you can't give someone a brand new car with the same payment amount without extending the term of the loan. It's impossible. Most people don't quite catch on. The one's that do are already hooked on getting the new car. My friend just keeps paying and paying. She does this literally every 3 years so she never pays off a car. I told her she might as well lease. It's the little scam dealers are doing to get you into another new car.
My Toyota dealership offered me the same deal. I'm driving a 2006 very low mileage V6 RAV4 and they offered to put me in some crappy new Yaris or a similar undesirable vehicle. I told them to pound sand.
No dealer needs a 3 year old used car on their lot which they bought for as much as they would sell an equivalent new one for. If they can sell new ones for that price, the used one would just rot on their lot. Who would buy it?
Somewhere there is a catch. Less content on the new one, balloon payment at the end, or moving you into a lease to use trade equity to balance the payments, money down, something...
Forget the payments for a minute, ask them what your out the door price would be on the deal (straight up trade, no cash down, all taxes and fees included)?
Quote:
Originally Posted by Blue biker
The "modus operandi" is to get you in the door. They can't get you to sign the deal over the telephone or online. They need you with a pen in hand.
Of course if you believe this offer from the dealer I'll offer you a way to pay off the car. I have a bridge that goes from Manhattan to Brooklyn, I'll sell that to you cheap. If you charged a small toll for everyone that crossed it you'd be a millionaire.
That's called bait and switch, and its illegal.
Quote:
Originally Posted by CGab
NO WAY!
My friend gets these offers all the time from the same dealer and she always takes them up on it. Her payments don't increase , but her loan term does. And of course it does because you can't give someone a brand new car with the same payment amount without extending the term of the loan. It's impossible. Most people don't quite catch on. The one's that do are already hooked on getting the new car. My friend just keeps paying and paying. She does this literally every 3 years so she never pays off a car. I told her she might as well lease. It's the little scam dealers are doing to get you into another new car.
Quote:
Originally Posted by YelloJacket
Yeah I thought so and I asked him if my remaining payments are gonna be the same. He said yes, I wouldn't pay anymore than what payments are remaining.
I read that as, and I think OP clarified this already, that his payments would be the same amount and same length.
OP, So have you pursued this? You haven't yet said, what kind of car you have.
I assume you got it from the dealer contacting you, but what is the make, model, and extra options for the vehicle you have?? Have they said what vehicle they are offering, that alone could be a major downgrade, but if its newer, that might be what the appeal is supposed to be.
Honda dealer calls me constantly offering me the same thing. I have told them I'm not interested and they still call. WHen I buy my next car, I am going back to the Dodge/Jeep dealership that NEVER did that to me.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
