Dealship Trade Deal in progress --- Is this a good deal? HELP!!!!

[TroyZ28]

My Tradein

Z-28 M6 2001 60,000Mi (Extended Warrantee 75K)
Leather, Power everything
Exterior/Interior Very Good
Mechnically worn but not too noticible yet

-- They are offering $9,500



Thier Car
Z-28 M6 2002 8,000Mi Aniversary Addition
Cloth, Power everything
T-Tops
17" SLP Chrome Rims
Exterior/Interior Excellent
Mechnically tight not broken in much

-- They are asking $19,000


I have been negociating all day. This is where it is.
I have $100.00 down and several more hours
to think about it. I know I could get more for my car
but how much? Is it worth the hassle?

[Joe 1320]

Maybe I'm wierd, but I wouldn't spend 10K to buy the same car you already have. Yeah, it has fewer miles and a different trim package, but think of what could be done to yours for $10K.

[Jeff_in_Atl]

I didn't want to say anything but I have to agree with Joe. $10,000 is a big difference for 1 year. Yea I know there is 50,000 miles difference but could buy a crate engine and trans for half of that. Your also giving up the leather. The only pros I see is T tops and less miles. The cons are lossing the leather and $10,000.

[tabahr]

I would agree with Joe. For 10G you could really make you curent car a monster. If it feels to loose, put in polygraphite bushings. Give her a stage 3 clutch, and swap the LS1 for a LS6. The latest issue of HRM has a very interesting write up on turning an LS1 into a large cube monster. 10G could REALLY go a long way.

The down side... You will never get your money back. See my post on cars as an investment. Here is what I would do.

1) sell your old car privately. Do NOT trade it in. I use a home equity line to buy my new toy, then I sell the old one afterwards to pay twards the line. The difference then gets made up over the next few months until it is payed off.

2) don't settle for a car at a local dealer. That REALLY limits your variety and price options. Look online, nationwide for the EXACT car you want for the price you are willing to pay. I was able to find my 94 for 7,500 with 51K on it.

3) spending 10G to get basically the same car that is ONE year newer is foolish. Dont be in a hurry. This could becaome an expensive lesson in automotive economics.

4) The newer the car, the more you will loose in depreciation every year. I think you have already seen this with your 2001. Do the math some time and figure out what it has cost you to drive that car. Just subtract what you can sell it for from what you have in it, then divide that by the months you have owned it. You will get a $/month figure that might make you . Now you want to do that again on another newer car??

My final recommendation... If you really are not happy with your current car.. Spend as little as you have to on it to make youself happy. Prefferably something you can remove at the point of sale. Maybe some rims, or a shifter. Have the bushings replaced to stiffen it up. Doing this is way cheeper than trading in.

Of course, all this advice is null and void if you have enough $$ you never need to worry about it... In that case, PARTY ON!!

[TroyZ28]

Hmmmmm $9500 trade in with a lid and catback is slower than the car with less mile

You guys got some good points. I just wanted to focus on Apples to Apples. One Apple is new the other has had a rough life.

Its a never ending story here. I bought my car for $23 worth $9 - $12 for trade in now. If I trade it in on a similiar car with less miles keeping the monthly payment the same. Then later in life I will loose on this car.

Honestly I think I have some onforseeen mechanical problems with my car that I don't want to deal with. I have mishifted several times. You know that 3rd to 2nd @100 MPH and I autocrossed it a few times. I am afraid to keep the car. My point all the money in the world won't turn that odometer back and I won't get any of the money back. It consumes oil, grinds in 2nd, and the values or pinging noise worries me. I know the OEM clutch is on its last leggs. Right now its very tradable and everything works. I am afraid to really find out what letting the clutch out in 2nd @100 a few times has done internally. I really don't want to sell this car to anyone and have it come back to byte my @$$.

What I want is another sports car not to mod or race or fix just to enjoy speeding to work everyday. Yes I know its about the same car but guys theres not much out there to choose from being RWD and affordable and low mileage.

I hear you. I just want to tell you why I feel I am in a rush. Here's an real eye opener to me also.

[tabahr]

OUCH

Paid 23000 for it and selling for 9500?? Had it for 2 years? that is 13,500 to drive 2 years. That is 562.50 per month to drive it. You want to do that all over again?? Keep your car and pay it off. Once it is paid for you will have the money you used to be spending on payments to put in a new clutch. Put bigger heads on it with new stainless valves etc, etc. No car payment = freedom to play. 562/month can buy lots of parts to have fun installing. With the kind of $$ you have invested in it already, how can you justify selling it? My wife would have my nads.

[TroyZ28]

Ouch yes! Reality bytes.

Its the mileage that kills most of the value not the years owning it. 60,000 Miles since I bought it August 2000 with 3 Miles on it. So its 20,000+ Miles I put on it per year. After 3 years not 2. Still I am back and fourth with this.

I don't know what I could sell it for. Maybe $3000.00 more but there is pros and cons to that also.

[tabahr]

example

I paid 7500 for my car and another 500 to ship it home. so..figure 8000

in 2 years i'm sure it will still be worth at least 6000. Figure it out to a monthly cost and it comes to $83.00 per month. Even if it has a problem now and then I can drive it and feel GOOD. It doesn't bother me to fix it every once in a while, either. At 83/month I can afford to fix it!!

Good luck.

[TroyZ28]

Good point

That sounds very good on your end. Now I got a question for you each of you.

Z28M62001 60,000 Miles 75,000 transferable limited warrantee
Exterior looks great
1 Fender slightly bent because it was lifted wrong
Pretend you never knew the hell I put it through.

How much would you offer me?

[tabahr]

Looking at similar cars on www.autotrader.com the cheapest car i find that year with your options is $16,750 at a dealer. That has 35K on it.

Looking in www.kbb.com the "private party value" of your exact car in "excelent" condition is 13,855.

I would guess you could get 13 for it all cleaned up nice. no lower than 12,500. that puts you at a 10,000 loss over 3 years bringing your "level screwed" down to $277.00 per month. Getting better, but you're still walking funny from that mop handle that your car has placed up your rear end.

[Joe 1320]

The trade makes no sense financially. Do the math on the payments, you are paying way more than 9500. By the time you make all your payments combined with the increase in insurance (you know they will increase because of a newer car), this is no deal. I still say you could put a new engine and trans for mucho less, then the car will be paid off sooner. I've been down that road before and it's not worth it. If you sell your car to a private owner for $14K then buy it, that might be OK, but even then I personally wouldn't do it.

[badTAbird]

My car is paid for and has many newer parts than a 2002. If your happy with the looks it takes little money to get it back to new. Sell your car private then walk into the dealer with cash so you can have a leg up on him.

[TroyZ28]

Done

It wasn't a great deal at all, however with a couple thosand down I keep the same payment! Now I have a new Z28 that I am going to baby just like the previous owner did. The whole car drives so different with only 8K on it. I know what a F-Body can do. I am just going to drive it easy and enjoy it.

Even though by alot of your standards I was raped by the deal I was happy to get out of my worn F-Body before the wear and tear caught up with me. I wonder what problems the new owner of my abused Z with 60K on it will face. I really drove it hard! Imagine for a second a HOT day in Texas and redlining each gear not knowing your over a quart short of oil.

[tabahr]

A LT1 can run on just over 1qt of oil in normal driving conditions. It gets dirty very fast, though. The 5 qt capacity is just a reservior. Being 1qt low will not harm anything. As long as the pickup is submerged you are fine.

[markd79ta]

The NADA average trade on your car is about 18,000. The average retail on the car you want is about 25,000 for a difference of 7,000. Now they are offering you $9,500 for your car, and $19,000 for their car for a difference of $8,500. Get those numbers down to $7,000 or walk unless you don't mind donating an extra $1,500 to the salesman as a tip.