I'm in Shelton, CT, PM sent.
I'm in Shelton, CT, PM sent.
Selling a car with a loan on it is easy.
They pay you and you pay the loan holder or they pay the loan holder and you get what is left. They won't be able to transfer title until they get a clearance letter from the loan holder.
Selling a car that is less than 2 years old is ALMOST always a losing proposition.
Unless you put a fair amount down and you are willing to take a loss, you are normally upside-down on the loan.
They will offer you $14,500. Sorry. 
So a quick glance on Carmax says they are selling them for 21-22K and they try to make at least 15-20% GM on sales so 16-17K with 17.6K as top dollar.
Based on my info, which is what Carmax usually uses as a guide, The offer will be between $16.6 Below Average Example, to $19.9 as an Above average example. I'm pulling all the aggregate National Auction Data. Manheim Market Report (MMR).
The offer might change if there is any prior paint work, or mods as they have to announce it if they take it to Auction.
I'm dying no more than $17.5.
Good Luck!
Only mod is a different rear bar and I can put the stock one back on before I sell it, but considering I'll probably just sell it private the new owner might want the Strano bar that is on there now.
NGTD wrote: Selling a car that is less than 2 years old is ALMOST always a losing proposition. Unless you put a fair amount down and you are willing to take a loss, you are normally upside-down on the loan.
Or you got the car for a lot less than MSRP and have a very low interest loan.
Harvey wrote: Or you got the car for a lot less than MSRP and have a very low interest loan.
You and everybody else. ST Foci were widely advertised for a lot less than MSRP and with very low interest rates...I would generally expect the second hand market values to already be adjusted correspondingly. Remember that advertised prices are not necessarily any better indication of selling prices (market value) on used cars than they are on new cars. So early on, it's still usually the down payment covering a good chunk more than just TTL that makes the biggest difference between in the clear and under water...At least among people who aren't bad negotiators with worse timing.
All this talk about how bad the Carmax quote will be has me not even wanting to go now. 
Driven5 wrote:Harvey wrote: Or you got the car for a lot less than MSRP and have a very low interest loan.You and everybody else. ST Foci have been widely advertised for a lot less than MSRP and with very low interest rates...I would generally expect the second hand market values to already be adjusted correspondingly. Remember that advertised prices are not necessarily any better indication of selling prices (market value) on used cars than they are on new cars. So early on, it's still usually the down payment that makes the biggest difference between in the clear and under water.
I guess we will see. Not everyone qualifies for low interest rates, but there are definitely deals to be had on new ones. Still, it's not like I'm trying to get what I paid for the car out of it. The used price is still a significant discount from what I paid new.
Judging by what I've seen I'm pretty sure I can get more than what I owe out of it and my down payment was minimal.
Harvey wrote: Judging by what I've seen I'm pretty sure I can get more than what I owe out of it and my down payment was minimal.
That's always a good thing.
Glad to hear Joey is finally going to run the c5!
I'm pulling all the aggregate National Auction Data. Manheim Market Report (MMR).
Man, i miss that perk of working at Manheim. Pulling random reports on stuff i was curious about. 
If Manheim above average value is close to $20k I feel okay with my situation as I'm pretty sure my car is in that range given the options and mileage. I say this knowing full well that people are pretty unrealistic about their own situation in these cases (my car is the best!), so take it for what you will.
crxmike wrote: Glad to hear Joey is finally going to run the c5!
Tires for a C5 are probably gonna run me close to what I would have spent for tires on the ST so it's a win for me and I don't have to keep figuring out this silly FWD thing.
It's especially a win once I don't have the loan and insurance payments.
WillrunifChased wrote: Carmax $17k. What is the prize for picking the closest number?
Winner. You're the only one that guessed exactly $17k from what I can see.
They also had a 2013 with 10k miles and the same options in silver in the showroom when I walked in for $22k. I was like, oh yeah, not getting anywhere close to $19-20k offer.
I'll be putting an ad up soon. Will put the car back to stock including the stock tires which have only a couple thousand miles on them.
Glad it was at least at the high end of my range I guessed.
Harvey wrote:WillrunifChased wrote: Carmax $17k. What is the prize for picking the closest number?Winner. You're the only one that guessed exactly $17k from what I can see. They also had a 2013 with 10k miles and the same options in silver in the showroom when I walked in for $22k. I was like, oh yeah, not getting anywhere close to $19-20k offer. I'll be putting an ad up soon. Will put the car back to stock including the stock tires which have only a couple thousand miles on them.
That's why I wanted to know what the prize was?
I got a quote on the 370Z from Carmax when I was selling it, and they basically told me they offer what they could get at auction. And no, I didn't take the 370 offer, instead sold it myself for $5k more.
Oh, and for what its worth, I called and told most of the local dealers I had it for sale and one bought it from me. They had a customer looking for a 370Z specifically, and gave me a great offer. Of course they wouldn't tell me who so I could sell directly though...
It sucks, but it makes sense. They won't really want to pay much more than auction price for it, because if they can't sell it on their lot, they don't want to take a big loss.
WillrunifChased wrote:Harvey wrote:That's why I wanted to know what the prize was?WillrunifChased wrote: Carmax $17k. What is the prize for picking the closest number?Winner. You're the only one that guessed exactly $17k from what I can see. They also had a 2013 with 10k miles and the same options in silver in the showroom when I walked in for $22k. I was like, oh yeah, not getting anywhere close to $19-20k offer. I'll be putting an ad up soon. Will put the car back to stock including the stock tires which have only a couple thousand miles on them.
We should have started a pool. Get the boxes out.
racerdave600 wrote: Oh, and for what its worth, I called and told most of the local dealers I had it for sale and one bought it from me. They had a customer looking for a 370Z specifically, and gave me a great offer. Of course they wouldn't tell me who so I could sell directly though...
If you're happy with the offer that seems like a good situation. The dealer takes all the risk so there's no chance of you being sued for anything whatsoever.
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