Was looking at corvettes today

HaZe_X · 07-15-2010, 08:09 PM

Ive been thinking about trading the Camaro in on a 3LT coupe today, well that is until the dealer told me the trade in value of my car is $32,000..Seemed a little low I thought? Especially since the payoff is $37,000 ...Black on black 2SS, MN6, 2100 miles.

Ive had the urge for a vette for a while now, cant decide what to do, and Im not willing to take 32k for the car.

Russo · 07-15-2010, 08:11 PM

37k is alot left on payoff, what was the car worth to begin with?

HaZe_X · 07-15-2010, 08:14 PM

Quote:

Originally Posted by Russo

37k is alot left on payoff, what was the car worth to begin with?

sticker was $37,xxx...After taxes and such it came to 40k-ish..I took a 72 month loan, stupid me was not thinking at the time. Ive had the car since Dec 09. Im paying $233 just in interest every month.

PAUL SS · 07-15-2010, 09:04 PM

Quote:

Originally Posted by HaZe_X

sticker was $37,xxx...After taxes and such it came to 40k-ish..I took a 72 month loan, stupid me was not thinking at the time. Ive had the car since Dec 09. Im paying $233 just in interest every month.

Ouch. I went 72 months a year ago and my last interest payment was $82.00

Brokinarrow · 07-16-2010, 01:55 PM

Very bad idea to trade in a new car shortly after you bought it.

<------- I know, trust me

2010 SSRS · 07-16-2010, 02:09 PM

try selling your Camaro and you will probably get a lot more money.

ImportImage · 07-16-2010, 02:30 PM

32,000 is actually not that bad for trade in. But the bad thing is you owe 37k and will be upside down. You can try to sell the car but you will be hard pressed to sell it at 37k private owner.

If you are dead set on the vette- trade the camaro in and make it a life lesson learned.

I would just keep the Camaro and enjoy it till about a year away from warranty and then trade it in while it still has some kind of warranty left.

HaZe_X · 07-16-2010, 09:04 PM

IMO I think 32k is a bad number. I was looking at lets say cars.com, I see some 2SS's with 2-3,000 more miles then mine going for 35-36k.

I guess if I REALLY want to get rid of it private party is the way to go.

I know Im upside down on the loan, its the 5k hit that kills me. I would have been ok taking a 2k hit (if thats even realistic)

motor1 · 07-16-2010, 09:10 PM

Well considering the fact that they are giving Corvettes away I am sure they will absorb a lot of the difference, you could always sell it on Ebay.....

Indpowr · 07-16-2010, 09:13 PM

For the price you paid for the Camaro you could have bought a 1LT Corvette.

At this point keep the Camaro unless you can not live without the Vette

HaZe_X · 07-16-2010, 09:15 PM

Quote:

Originally Posted by motor1

Well considering the fact that they are giving Corvettes away I am sure they will absorb a lot of the difference, you could always sell it on Ebay.....

Yes they are, 0% for 60 months, plus he was going to give me $500 above invoice for a fully loaded 3LT coupe. Im going to do something, either keep modding the camaro to fill a void, or step it up.

HaZe_X · 07-16-2010, 09:16 PM

Quote:

Originally Posted by Indpowr

For the price you paid for the Camaro you could have bought a 1LT Corvette.

At this point keep the Camaro unless you can not live without the Vette

Dont remind me!

*The_Blur* · 07-16-2010, 09:30 PM

Keep in mind that the dealer is obligated to send your car through service for a safety inspection. Service departments will receive pay for doing this, and part of that difference is incorporated into the value of your car. That's part of why private party cars have more going for them as far as selling price. There's no payroll involved.

Many banks will finance up to 120% of a new car's value. Keep that in mind.

Iroczlover · 07-16-2010, 09:39 PM

why get a new vette they keep their value over the years & are starting to rise alittle bit more.

bought my 90 3yrs ago & its gone up for 11 to nearly 15 now lol.

husbands vette keeps going up too

Find a C5 or early c6 you can handle

07-15-2010, 08:09 PM	#1
HaZe_X Drives: Trailblazer SS & Camaro SS Join Date: Nov 2009 Location: North Jersey Posts: 758	Was looking at corvettes today Ive been thinking about trading the Camaro in on a 3LT coupe today, well that is until the dealer told me the trade in value of my car is $32,000..Seemed a little low I thought? Especially since the payoff is $37,000 ...Black on black 2SS, MN6, 2100 miles. Ive had the urge for a vette for a while now, cant decide what to do, and Im not willing to take 32k for the car. __________________ 2010 Camaro 2SS/RS/LS3 -Black on Black - Kooks 1-7/8 Headers, Dyno Tuned, ADM Race CAI, QTP Cutouts, Hurst Short Throw, SJM Line Lock, Alpine PDX 1.1000, (2) Alpine Type R's, ...Soon to be cammed!

07-16-2010, 01:55 PM	#5
Brokinarrow Drives: 2012 Honda NC700x Join Date: Sep 2008 Location: Indianola, IA Posts: 5,317 View My Garage	Very bad idea to trade in a new car shortly after you bought it. <------- I know, trust me __________________

07-16-2010, 02:09 PM	#6
2010 SSRS Drives: 3 V8 Camaros Join Date: May 2009 Location: The Ocean State Posts: 111,186 View My Garage	try selling your Camaro and you will probably get a lot more money. __________________ Jannetty Racing JRE Street Package

07-16-2010, 09:04 PM	#8
HaZe_X Drives: Trailblazer SS & Camaro SS Join Date: Nov 2009 Location: North Jersey Posts: 758	IMO I think 32k is a bad number. I was looking at lets say cars.com, I see some 2SS's with 2-3,000 more miles then mine going for 35-36k. I guess if I REALLY want to get rid of it private party is the way to go. I know Im upside down on the loan, its the 5k hit that kills me. I would have been ok taking a 2k hit (if thats even realistic) __________________ 2010 Camaro 2SS/RS/LS3 -Black on Black - Kooks 1-7/8 Headers, Dyno Tuned, ADM Race CAI, QTP Cutouts, Hurst Short Throw, SJM Line Lock, Alpine PDX 1.1000, (2) Alpine Type R's, ...Soon to be cammed!

07-16-2010, 09:30 PM	#13
The_Blur Moderator Drives: 2018 Harley-Davidson Street Bob Join Date: Nov 2007 Location: San Diego Posts: 14,768	Keep in mind that the dealer is obligated to send your car through service for a safety inspection. Service departments will receive pay for doing this, and part of that difference is incorporated into the value of your car. That's part of why private party cars have more going for them as far as selling price. There's no payroll involved. Many banks will finance up to 120% of a new car's value. Keep that in mind. __________________ RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// Operation Demon//Buy at Invoice//RACECARWEAR RESPECT ALL CARS. LOVE YOUR OWN. warn 145:159 ban

07-15-2010, 08:11 PM	#2
Russo Unofficial Glass Tech Drives: 2014 Ford F150 FX2 Join Date: May 2009 Location: Raceland, LA Posts: 1,376	37k is alot left on payoff, what was the car worth to begin with?

07-16-2010, 02:30 PM	#7
ImportImage Drives: 2012 GTR, 2009 GTR Join Date: Jul 2010 Location: Cape Coral, FL Posts: 1,947	32,000 is actually not that bad for trade in. But the bad thing is you owe 37k and will be upside down. You can try to sell the car but you will be hard pressed to sell it at 37k private owner. If you are dead set on the vette- trade the camaro in and make it a life lesson learned. I would just keep the Camaro and enjoy it till about a year away from warranty and then trade it in while it still has some kind of warranty left.

07-16-2010, 09:10 PM	#9
motor1 Drives: 2010 Camaro 1SS/RS/M6.....no longer Join Date: Dec 2009 Location: Virginia Posts: 479 View My Garage	Well considering the fact that they are giving Corvettes away I am sure they will absorb a lot of the difference, you could always sell it on Ebay.....

07-16-2010, 09:13 PM	#10
Indpowr Account Suspended Drives: Corvette C6 Join Date: May 2008 Location: Florida Posts: 6,959 View My Garage	For the price you paid for the Camaro you could have bought a 1LT Corvette. At this point keep the Camaro unless you can not live without the Vette

07-16-2010, 09:39 PM	#14
Iroczlover The Krazzy bytch Drives: Which car I have 9 vehicles? Join Date: Jun 2008 Location: Yelm, wa, Hell if I think about it to much Posts: 7,918	why get a new vette they keep their value over the years & are starting to rise alittle bit more. bought my 90 3yrs ago & its gone up for 11 to nearly 15 now lol. husbands vette keeps going up too Find a C5 or early c6 you can handle

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