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re: Dealer wanting to know your payoff when trading in

Posted on 5/18/16 at 9:36 am to
Posted by Topwater Trout
Red Stick
Member since Oct 2010
70176 posts
Posted on 5/18/16 at 9:36 am to
quote:

You should not even bring up trading your current vehicle in until you agree upon a price for the car you are buying.
Posted by DoUrden
UnderDark
Member since Oct 2011
26320 posts
Posted on 5/18/16 at 9:38 am to
When I walk into a dealer I tell them the only number I am worried about is the price I am paying, I don't want to hear payment amout or about interest rates, we are negotiating the price of the car the rest will work itself out.
Posted by Schmelly
Member since Jan 2014
16429 posts
Posted on 5/18/16 at 9:38 am to
quote:


Wait. You are honestly suspicious of why a dealer would want to know how much you owe on a car before they take it in on a trade? You can't be serious.


They gotta make an offer before they "take it". Tell me what that number is, then I'll tell u if I like it. Whether it's paid for or I'm upside down like a mofo makes no difference
Posted by Schmelly
Member since Jan 2014
16429 posts
Posted on 5/18/16 at 9:40 am to
quote:

ou should not even bring up trading your current vehicle in until you agree upon a price for the car you are buying.


I don't. But I went there to sell the car...then I saw something I liked, lol
Posted by ForeverLSU02
Albany
Member since Jun 2007
52585 posts
Posted on 5/18/16 at 9:40 am to
quote:

What does what I owe matter when telling me what you're gonna offer me?
They're just trying to figure out the best way to frick you
This post was edited on 5/18/16 at 11:33 am
Posted by Schmelly
Member since Jan 2014
16429 posts
Posted on 5/18/16 at 9:40 am to
Zactly
Posted by Spilled Milk
Member since Mar 2015
1075 posts
Posted on 5/18/16 at 9:40 am to
quote:

They gotta make an offer before they "take it". Tell me what that number is, then I'll tell u if I like it. Whether it's paid for or I'm upside down like a mofo makes no difference



Here's the deal, the argument being made is the dealer needs all the available financials to see if they're wasting their time...this is the definition of two way street.
Posted by N2cars
Member since Feb 2008
40320 posts
Posted on 5/18/16 at 9:42 am to
quote:

They gotta make an offer before they "take it". Tell me what that number is, then I'll tell u if I like it. Whether it's paid for or I'm upside down like a mofo makes no difference


Agree, but I would tell them I am trading it in. They just don't need to know the payoff deal.

What you are looking for is the highest value for the trade and the most movement off of sticker.
(Obviously)
Posted by N2cars
Member since Feb 2008
40320 posts
Posted on 5/18/16 at 9:44 am to
quote:

this is the definition of two way street.


The definition of two way street is to be honest about trading it in, not revealing payoff.

Tell me then, what did y'all pay for the car?

(Hint: no one at the dealership actually knows true cost)
Posted by Placebeaux
Bobby Fischer Fan Club President
Member since Jun 2008
51852 posts
Posted on 5/18/16 at 9:45 am to
Don't show your hand baw.
Posted by TigerSaints318
Shreveport
Member since Dec 2009
1815 posts
Posted on 5/18/16 at 9:47 am to
At some point you will need to provide that info. It isn't necessary until you want an idea of payments or want to get a loan approved.
Posted by Schmelly
Member since Jan 2014
16429 posts
Posted on 5/18/16 at 9:48 am to
quote:

quote: this is the definition of two way street. The definition of two way street is to be honest about trading it in, not revealing payoff. Tell me then, what did y'all pay for the car? (Hint: no one at the dealership actually knows true cost)


Bingo
Posted by Schmelly
Member since Jan 2014
16429 posts
Posted on 5/18/16 at 9:49 am to
quote:

At some point you will need to provide that info
. My argument is that point is just as soon as u make me a legit offer
Posted by PokerPastime
Member since Jan 2009
2470 posts
Posted on 5/18/16 at 9:50 am to
quote:

You should not even bring up trading your current vehicle in until you agree upon a price for the car you are buying.


Disagree, tried this approach and got where I wanted on the new vehicle but then they just low balled the shite out of me on trade. I walked out of 2 dealerships after trying this and getting the same result both times.

Better off know what you want to pay for new vehicle and what you want for trade. Tell dealer to get there than figure out how you want to handle payments
Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
96240 posts
Posted on 5/18/16 at 9:51 am to
quote:

What does what I owe matter when telling me what you're gonna offer me?


Well, he does want to know if you're underwater, but really he wants to know how low he can bid for it to make sense to you.

I would tell him it's none of his business and ask for what he'll sell it for (retail) as an opening offer.
Posted by LNCHBOX
70448
Member since Jun 2009
89386 posts
Posted on 5/18/16 at 9:52 am to
quote:

. It isn't necessary until you want an idea of payments


You don't need to give them that info. There are plenty of calculators you can use to figure out payments. You should know all of that kind of stuff before you go in to make a deal. The less opportunities you give them to frick you, the less they'll be able to.
Posted by gamatt53
Member since Nov 2010
4934 posts
Posted on 5/18/16 at 9:52 am to
quote:

Disagree, tried this approach and got where I wanted on the new vehicle but then they just low balled the shite out of me on trade. I walked out of 2 dealerships after trying this and getting the same result both times.

Better off know what you want to pay for new vehicle and what you want for trade. Tell dealer to get there than figure out how you want to handle payments



Then you should have sold your old vehicle somewhere else. Pretty simple?
Posted by CaptainsWafer
TD Platinum Member
Member since Feb 2006
59449 posts
Posted on 5/18/16 at 9:52 am to
quote:

Whether it's paid for or I'm upside down like a mofo makes no difference


I feel like it does if you are upside down like a mofo.
Posted by its1999
Member since Aug 2009
1040 posts
Posted on 5/18/16 at 9:55 am to
quote:

You also should have came in with a guaranteed purchase offer from somewhere else so they will beat that.


This. When we bought our last vehicle, i went into the local dealer under the guise of "just looking, want to test drive, we'll let you know."

I narrowed it down to the features I wanted, then called every dealership in a 3-5 hour radius to get a quote. For that large a purchase, we were willing drive a little distance for it.

Found the absolute lowest one and asked my local dealer to beat it. He couldn't beat it, but he did match it and they added a tow hitch for free. Did not go back into that dealer till we were ready to sign papers.
Posted by Rickety Cricket
Premium Member
Member since Aug 2007
46883 posts
Posted on 5/18/16 at 9:55 am to
I agree with that general rule, but I've also had success in getting a good trade in number, then negotiating the "walk out" number. That way you're negotiating on the actual number, and they can decide whether to increase the trade or lower the new car.
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