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Honda Vehicle Exchange Program
Posted on 9/3/13 at 2:22 pm
Posted on 9/3/13 at 2:22 pm
I recently had some recall work done at Team, which apparently put me on their radar. Today, I received a personalized mailout saying that, "due to a shortage of reliable pre-owned blah blah blah" my car is eligible for this program. They are offering 110% of NADA book value on my car, .9% APR, etc.
I didn't have any real intention of selling my car in the short term, but I'm not opposed to it. My car is in perfect condition, but is about eight years old, so I'm going to have some costly routine replacements coming up in the next few years. Which brings me to my question. Is this something I should seriously consider, or is it some bullshite gimmick where once they get me out there, they'll give me my 110% on my trade in, but won't move off the sticker of the car I'd be buying?
I had never heard of this before, so I figured I would come here and see if anyone had any experiences with the program.
I didn't have any real intention of selling my car in the short term, but I'm not opposed to it. My car is in perfect condition, but is about eight years old, so I'm going to have some costly routine replacements coming up in the next few years. Which brings me to my question. Is this something I should seriously consider, or is it some bullshite gimmick where once they get me out there, they'll give me my 110% on my trade in, but won't move off the sticker of the car I'd be buying?
I had never heard of this before, so I figured I would come here and see if anyone had any experiences with the program.
This post was edited on 9/3/13 at 2:24 pm
8
Posted on 9/3/13 at 2:36 pm to Joshjrn
I wouldn't discuss the trade till you negotiate the new purchase.
And you can make an anonymous call asking them this exact question
And you can make an anonymous call asking them this exact question
Posted on 9/3/13 at 3:06 pm to Joshjrn
used car market is tight right now so they have been offering stuff like this at the dealerships. just make sure you get a good deal on the car you are buying.
Posted on 9/3/13 at 3:12 pm to Joshjrn
quote:I got one of these for my Toyota a few months ago. It's just an incentive program to get more business.
Today, I received a personalized mailout saying that, "due to a shortage of reliable pre-owned blah blah blah" my car is eligible for this program.
Posted on 9/3/13 at 6:30 pm to Joshjrn
quote:What is your 8 year old honda worth? 10% of $8,000 is just $800. That isn't exactly enough money to make you jump at a new vehicle. You will lose MUCH more than that in depreciation in the first year of a new vehicle.
They are offering 110% of NADA book value on my car
Posted on 9/3/13 at 10:40 pm to eelsuee
quote:
What is your 8 year old honda worth? 10% of $8,000 is just $800. That isn't exactly enough money to make you jump at a new vehicle. You will lose MUCH more than that in depreciation in the first year of a new vehicle.
Top of the line Accord, so right around $10-11k. But, I get what you're saying.
Posted on 9/3/13 at 10:42 pm to Joshjrn
My parents just did this with my dad's 2010 Camry, but what they did was look on the lot for the 1 car they wanted so they didn't have to go through all the hassle of wandering the lot with the sales person. They showed up to the dealership and had them pull that specific car around to look at/drive. They also approached the deal with the attitude that they didn't HAVE to buy a car, so if the numbers didn't work, they were going to walk away. I don't remember the exact numbers, but they ended up buying the new car. I'd say it's worth looking in to, especially with an car that will be facing some routine maintenance in the fairly near future.
Posted on 9/4/13 at 7:54 am to Joshjrn
Read the fine print. They sent me something like this for my 03 ford f150. They start deducting from the price based on some ridiculous mileage. I would have basically gotten less than the value I could get on trade in. Still riding in my 03
Posted on 9/4/13 at 8:11 am to Joshjrn
I got a similar letter for my 2011 Tahoe. My dad got one for his 2010 Silverado at the same time. I'm not saying that they don't need the used car inventory, but at the bottom of it, it's still a gimmick to get you into a new car. It may be a good deal, but it's not like they aren't taking a loss on the new car so that they can get your used car on the lot.
Posted on 9/4/13 at 12:20 pm to Joshjrn
quote:
gimmick
My wife got one of those a couple years back on her accord. It was in excellent shape and only two years old. We were wanting to trade up to an SUV anyway, so she took it in. Waited around a couple of hours and they come back and offer less than the trade in value and nowhere near close to what the mail offer said. Traded it for another brand that weekend for considerably more than the honda place was offering.
I also get those kind of offers quarterly on my F-150. Used to be from the dealership I bought it from only, but now I get them from a Dodge dealership too.
All that said, don't waste your time with this offer.
Posted on 9/4/13 at 3:13 pm to Bubba Bexley
quote:
Joshjrn
I work at Moss Honda in Lafayette....and am not familiar with this program. I can check into it though and see whats the deal...
Posted on 9/4/13 at 3:18 pm to Coach Guidry
Update...
This is nothing to do with Honda...we offer no such program. This is a 3rd party company that certain delearship hired in order to get you into the door...
This is nothing to do with Honda...we offer no such program. This is a 3rd party company that certain delearship hired in order to get you into the door...
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