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I asked him even that. He said my remaining number of payments would be the same too.
Here is a little tip for you. Read the fine print. If they tell you that the remaining payment is the same every month and the amount of payment left is the same, look at the section where they tell you how they based that on. Most like, the assumption is based on your trade in value being much more than what your outstanding loan is.
You are going to find that the trade in value is a lot lower than what they used to calculate the number they gave you. Guess what? Pay the difference and you sure can walk away with a brand new car.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I get those offers in the mail all the time, they say that my used ______ is in great demand, have even gotten it for two different cars from the same dealer.
The other trick is that a dealership mails you a flyer saying they want to buy your car so come on down this weekend to the store. The dealership really wants you to trade in your car for a new one.
I asked him even that. He said my remaining number of payments would be the same too.
How can that be, man? Just think about it. If the payment is the same and the amount of payments left doesn't change then they are paying you to drive a new car. Why would they do that? Your car is worth less than the one you would be trading on, right?
How can that be, man? Just think about it. If the payment is the same and the amount of payments left doesn't change then they are paying you to drive a new car. Why would they do that? Your car is worth less than the one you would be trading on, right?
Fine print probably says "with $10,000 down payment"
Salesman will say yes to every question just to get you through the door
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)?
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