Car trade in question

[CaptainCrunch]

So about a year and a half ago I bought a new/used car. A Tucson. That's when I sold my jeep to Pylon who did an awesome job with it but I digress.

I got a email from the dealership that I bought the car from. They're short on used cars and they want to see if I'm interested in trading my car in for a new car.

They're also offering a bunch of incentives. Black Book value plus, a couple of grand in cash back etc.

Frankly I don't want to be paying more monthly then I'm paying now. I'm pretty happy with the car I have.

What are the ramifications here in terms of doing this, I'm assuming that for example I'm going to end up at zero in terms of paying for a car.

I'm assuming that black book value by itself, they're not going to value the car at the level that my current car loan is at.

I know that the members of CalgaryPuck are super edumacated and smart and someone has probably gone through this process before and I want to see if there are pitfulls here.

[Amethyst]

I get these letters all the time from Kia, but I figure if they're offering, they are the ones coming out ahead not me.

[Jacks]

Ya, they just want to sell you a new car, they will be offering you "wholesale" blackbook not "retail" black book. You can sell your vehicle for wholesale easily anytime you want.

[DuffMan]

I get those from the dealership I got oil changes from

[puffnstuff]

Yeah they are just trying to move new units. Their used stock is low for Tucsons, right? But call in looking for a used Tucson and they will have a few to show you.
If you can pay off the current loan completely or come out ahead there with what they will pay for it and either have the same payment or lower for a new ride, you can consider it I guess. If youre happy with your ride, why do it?

[kukkudo]

It's a marketing thing for you to come in. They are not low on anything, they will give you a wholesale BB value and yes few grand off the new unit. You can easily sell your vehicle for way more than wholesale BB on kijiji/trader. Really depends if the new one has any major changes?

I would keep your vehicle, if you really want to get rid of it sell it privately. Those cash back incentives etc are always available from the dealer.

[rain_e]

Sir captaincrunch

request for a confidential business relationship.

I represent a team of highly placed officials with the nigeria national petroleum corporation (nnpc) as well as the federal government contract review committee (crc), who are interested in commencing immediate business relationship with you, we hereby strongly solicit your assistance in transferring (forex) funds which totals us$25,500,000.00 (twenty five million, five hundred thousand united states dollars only) into a reliable personal or company account overseas which you have absolute control over.

These funds are presently trapped in the nigeria national petroleum corporation (nnpc) account with central bank of nigeria (cbn). These are as a result of grossly over - invoiced contracts which were executed for the nnpc during the last administration in nigeria and are presently under verification. To this effect, the present administration in nigeria set up a contract review committee to identify, verify, scrutinize, approve and recommend for payment all valid contracts that have been fully executed in the course of our assessment, we have identified a lot of misappropriated and inflated funds which are presently floating in the suspense account of the central bank of nigeria ready for payment. The companies, which executed the contracts, have been duly paid. It is the over inflated sum of us$25,500,000.00 that we now intend to transfer into a foreign account urgently.

I have been delegated as matter of capability by my colleagues to secure the cooperation of an overseas partner into whose account this over invoiced sum could be transferred for onward disbursement amongst us. Please confirm your willingness to assist us by sending your bank particulars and information via the above fax number or e-mail me for further information.

We will share the fund in a ratio which will be satisfactory to all. However, we propose 60% for us (the officials), 30% for the account owner (you) and 10% to be used in settling taxation and all local and foreign expenses, which are directly related to this project's prompt realization. This is being strongly considered by us over here as our pattern of disbursement. Please note that this transaction is 100% risk free and safe. So send immediately the above named requirements through my /fax: 191449317563 or e-mail me.

This transaction was supposed to have been carried out before the last year rolled out but for the xmas break so your prompt and urgent reply to this call will facilitate processing of things because we intend to accomplish this transfer within five working days.

Please treat with the strictest confidentiality and utmost urgency.

Yours faithfully,

senator rain_e

[White Out 403]

the only way this transaction works is if your car needs major repairs. lots of dealerships will include repairs on trade ins, so, lets say you need to do a few major repairs that cover say 1500, 2000 dollars.... it could be a lot easier to trade it in than to pony up the dough firs then try and sell on kijiji

[#22]

[4X4]

You guys are so cynical. Southgate Chev has been trying to get their hands on my 2007 Sierra for years. It's a pretty rare colour (black), so it's pretty obvious why they want it. Plus, it's only got 330,000km on it. But I refuse to sell it to them. If I did, how would I get around?

[Hockeyguy15]

Guys you're all missing the fact that he bought his car new/used. It's obviously as rare as a unicorn.

Don't listen to them CC, this letter is probably legit.

[Derek Sutton]

Originally Posted by CaptainCrunch

So about a year and a half ago I bought a new/used car. A Tucson. That's when I sold my jeep to Pylon who did an awesome job with it but I digress.

I got a email from the dealership that I bought the car from. They're short on used cars and they want to see if I'm interested in trading my car in for a new car.

They're also offering a bunch of incentives. Black Book value plus, a couple of grand in cash back etc.

Frankly I don't want to be paying more monthly then I'm paying now. I'm pretty happy with the car I have.

What are the ramifications here in terms of doing this, I'm assuming that for example I'm going to end up at zero in terms of paying for a car.

I'm assuming that black book value by itself, they're not going to value the car at the level that my current car loan is at.

I know that the members of CalgaryPuck are super edumacated and smart and someone has probably gone through this process before and I want to see if there are pitfulls here.

"We want your trade!!!" Is a marketing approach to you to head in to the dealership, your trade is just as desirable as everyone else's who was part of the email blast. A couple of points here.

1) Many people are quite happy to learn that they can get a brand new vehicle for the same payment they are making now on their current car.

2) It often takes about 1/2 your term to be in an equitable position on your trade in provided you didn't start with any negative equity to begin with.

3) Black book values does not mean a thing. There is one book for all of Canada, and each market is different. Market value is way more important the black book value.

4) Dealers will often slide all, some of or a portion of the rebates into your trade value. If they are not a full disclosure dealership ask to see a quote with no trade and a quote with your trade in order to see what you are actually getting for it.

5) Many rebates are subject to the terms off the sale ie: cash, financing, 0% financing, trade in bonus etc..

[DoubleF]

My understanding is this. They are willing to lose $1000 ish in trade in value to make double on a car sale. I'm guessing someone on the inside like Pylon can confirm or deny, but this has always been my perception.

It's literally spend to save, which isn't really much of a savings unless you are upset with the car and are looking to ditch it anyways.

[Bobblehead]

The APA did their regular survey of car dealers. This time it was Calgary's turn. There was a W5 report about it recently, here is the APA write-up about what they found. 17/20 dealerships they visited failed.

http://www.apa.ca/2017-apa-w5-investigation-calgary.asp

And I get letters from the dealership asking me to sell my 2004 Tacoma about once a year, I guess.

[rotten42]

I used to get these on a monthly basis from the local Toyota dealer about my V6 Rav4. "They are in big demand and we want to buy it from you".

Of course they won't offer you anywhere near what you want for it and they will be trying to sell you on a new car from them. No on both counts. Hey, but thanks you for letting me know about the demand for my vehicle. It helped quite nicely when I sold it privately for much more than you were offering.

[pylon]

Yeah CC. It's just a marketing tool for an event sale. We stopped doing those things about a year ago. All the emails just end up pissing customers off.