I'm trying to sell me honda accord coupe and the dealer is telling me that i have almost three thousand in negative equity. My deal breaker was get me out of my car and i will pay my own taxes, tags, and title and we have a deal. but he told me he couldn't do it even though my car is the top of the line for accord w/low miles. so i got up and left and the sales mgr was trying to negotiate another vehicle with me but I still stuck to my decision. do you think this was a good idea and do you thing they will call even though its a $3000.00 difference? please help! serious answers. what should i do?
2007-11-26 02:58:48 · 11 answers · asked by mizunderstood 2 in Cars & Transportation ➔ Buying & Selling
3g's not bad but what year is the car.
2007-11-26 03:27:00 · answer #1 · answered by KEMET 3 · 0⤊ 0⤋
If you are truly upside down in your loan payoff then there isn't much the dealer can do about that. It doesn't really matter if your car has low miles and has a lot of options. If you owe more on the car than the car is worth you're in a bind. You'll need to sell the car yourself and try to minimize the negative equity or simply wait until you've paid more on the car loan.
You might also try looking at a different new car. If you are trying to buy the brand new 2008 Accord there is no reason for the dealer to discount that car for you. It's a hot seller and they have no problem selling every car they get. They have no incentive for giving you a price break. That is why they tried to get you to move to a different vehicle, one that has more room in the price for negotiations.
2007-11-26 03:10:42 · answer #2 · answered by mccoyblues 7 · 0⤊ 0⤋
try to borrow the money from an un-established loan that the bank doesn't know where its going if u still have a lien. Otherwise keep the car..dealers are out for the money so u could probably get someone to take over you current finances even if u offered an incentive (Which would be cheaper than the 3,000 you would have to pay) Never go to a dealer they only give u a current blackbook value at about 70% of the car's initial value!
2007-11-26 03:05:05 · answer #3 · answered by Leah D 3 · 0⤊ 0⤋
The key point is the amount they are willing to pay you for it. Honda's usually command top dollar. Check out other used cars simliar to yours on Kbb.com, etc. so you have a firm grasp of it's dollar value regardless of what you owe. Once you have a good feel for it's value, you'll know if you are getting a fair price. If it's -3,000 or +2000 you'll make a better decision.
p.s. A dealer will never let anybody walk away from a deal if it makes sense to them. Don't call them
2007-11-26 03:08:04 · answer #4 · answered by GILMEISTERA 3 · 0⤊ 0⤋
Go to kbb.com or edmunds.com and find out what your trade-in value is on your car. Take what you owe on it, then reassess what the dealer is trying to do to you. If you are buying a new car, do the same. And keep in mind the dealers sometimes get secret kickbacks and rebates from the manufacturer that can get you a better price. And the last day of the month they are desperate to increase their month's stats, so that is a good day to deal.
2007-11-26 03:08:28 · answer #5 · answered by Flatpaw 7 · 0⤊ 0⤋
There is no way that a dealer will call it even because someone has to pay the lender the $3000 that is still owed on the car.
I just wrote about that topic this morning.
Good luck!
2007-11-26 03:06:45 · answer #6 · answered by Miss Motor Mouth 4 · 0⤊ 0⤋
It somewhat relies upon. there is in lots of circumstances an incredible variety of income in used autos, yet no longer constantly. The broking is generally keen to barter, yet they nonetheless ought to make a income. you won't be ready to tell by employing the merchandising value of a vehicle how lots the broking unquestionably paid for it. they might have paid $10,000 or they might have paid $14,500. one element I assure is which you only isn't waiting to purchase the vehicle for decrease than the broking paid. What are you keen to pay? supply that, or a splash decrease, and negotiate from there. in case you do unlike their value, say you will seem someplace else.
2016-09-30 04:46:09 · answer #7 · answered by ? 4 · 0⤊ 0⤋
"No" is the most powerful tool you have when buying a car. Stick to your guns. Look around, get quotes from other dealers and use them to negociate. Use the Internet to get trade in and resale values, and have the print outs with you.
Dealers need to buy low so they can resell at market value, if you can sell your car privately you'll get more for it.
2007-11-26 03:10:03 · answer #8 · answered by TL 5 · 0⤊ 0⤋
just because you think your car is worth something, doesnt mean it is. the trade in value is way less than the 'sale' value. look it up if you dont believe the dealership..kellybluebook.com. negative equity means you owe more on the car than the trade in value. to fix that problem in the future, pay more than the min payment each month. I pay double my payment, and if i traded my car in now, i'd get 3000 from it towards another car.
2007-11-26 03:07:01 · answer #9 · answered by Anonymous · 0⤊ 1⤋
THE ONLY WAY THAT THE DEALER WILL CALLED THIS EVEN IS BY ADDING THE DIFFERENCE TO THE NEWER VEHICLE.
2007-11-26 03:08:36 · answer #10 · answered by Anonymous · 0⤊ 1⤋
Are you trying to trade it in? Sounds like you've already been ripped off once and now you're about to get in even deeper.
2007-11-26 03:02:42 · answer #11 · answered by dog8it 4 · 0⤊ 1⤋