February Discussion Thread!
#1021
02-12-2011, 10:49 PM
Veronica:
Today at my work, one of your technicians from Infiniti (Michael) stopped by the Lexus dealer to try to work up a deal for a 2008 certified, pre-owned IS250. Everything went fine until we got to his trade which is a 2006 black G35 6MT coupe, 67K miles, and every bolt-on mod you can think of including a Top Secret front bumper, suspension, rims, exhaust, plenum spacer, etc. It looks nice and all except he owes a little over $17K. He was looking to get 15.5K for his car but we hit it at 13K. He got up and simply said "You can stop right here, we have nothing to discuss, give me my key..."
He pretty much walked out without even giving us an opportunity to work with him. What is wrong with people like him these days, thinking that just because they work at a dealer and know exactly what their car's worth based on "blue book value" and what he claimed his used car manager told him without purchase, gives them what they think a better advantage over us as a dealer? We always go by the black book, nothing else, and on the same token we're trying to make some money on our end
V, if you ever come across with him at your work, tell him that if he wants to give us a chance, he should get a printout of the appraisal on his car from the used car manager at OI and come back to the dealership. I didn't get a chance to give him my card since he left kinda abruptly but you can give my cell if he would like to contact me.
Today at my work, one of your technicians from Infiniti (Michael) stopped by the Lexus dealer to try to work up a deal for a 2008 certified, pre-owned IS250. Everything went fine until we got to his trade which is a 2006 black G35 6MT coupe, 67K miles, and every bolt-on mod you can think of including a Top Secret front bumper, suspension, rims, exhaust, plenum spacer, etc. It looks nice and all except he owes a little over $17K. He was looking to get 15.5K for his car but we hit it at 13K. He got up and simply said "You can stop right here, we have nothing to discuss, give me my key..."
He pretty much walked out without even giving us an opportunity to work with him. What is wrong with people like him these days, thinking that just because they work at a dealer and know exactly what their car's worth based on "blue book value" and what he claimed his used car manager told him without purchase, gives them what they think a better advantage over us as a dealer? We always go by the black book, nothing else, and on the same token we're trying to make some money on our end
V, if you ever come across with him at your work, tell him that if he wants to give us a chance, he should get a printout of the appraisal on his car from the used car manager at OI and come back to the dealership. I didn't get a chance to give him my card since he left kinda abruptly but you can give my cell if he would like to contact me.
#1022
02-12-2011, 11:29 PM
Help clear this up for me..... He owes 17k, but he want's 15.5k and you could offer him maybe 13k. Who pays the bank? Do you guys subtract the 13k from the 17k? and he gets the differences towards the new car?
#1025
02-12-2011, 11:55 PM
No. Lets say he owed 17k and the dealer gave him 14k for it. If he bought a Lexus for 20k. Well, he still owes 3k so they tack it on his purchase which is now 23k. It's called being "upside down."
#1027
02-13-2011, 12:10 AM
Right. The term upside-down generally refers to the situation in which a car buyer owes more on his auto loan than his car is worth. The amount by which the loan balance exceeds the car's value is called negative equity, or negative ownership value. No one wants to be in that situation but most of us are. Cars depreciate very fast
#1028
02-13-2011, 12:28 AM
I will be driving in my G coupe for a while till i have no more student loans... or I start banking really hard. btw does anyone know how to search craigslist for a wider area? I hate picking just tampa.
#1029
02-13-2011, 12:53 AM
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i'm keeping my sedan until it falls apart. it's been paid off for a long time and feels good not to have a payment. I sold my elise back in may of last year just do i wouldn't have a car payment anymore. kind of regret selling it, really fun car, but oh well.
#1034
02-13-2011, 10:08 AM
Veronica:
Today at my work, one of your technicians from Infiniti (Michael) stopped by the Lexus dealer to try to work up a deal for a 2008 certified, pre-owned IS250. Everything went fine until we got to his trade which is a 2006 black G35 6MT coupe, 67K miles, and every bolt-on mod you can think of including a Top Secret front bumper, suspension, rims, exhaust, plenum spacer, etc. It looks nice and all except he owes a little over $17K. He was looking to get 15.5K for his car but we hit it at 13K. He got up and simply said "You can stop right here, we have nothing to discuss, give me my key..."
He pretty much walked out without even giving us an opportunity to work with him. What is wrong with people like him these days, thinking that just because they work at a dealer and know exactly what their car's worth based on "blue book value" and what he claimed his used car manager told him without purchase, gives them what they think a better advantage over us as a dealer? We always go by the black book, nothing else, and on the same token we're trying to make some money on our end
V, if you ever come across with him at your work, tell him that if he wants to give us a chance, he should get a printout of the appraisal on his car from the used car manager at OI and come back to the dealership. I didn't get a chance to give him my card since he left kinda abruptly but you can give my cell if he would like to contact me.
Today at my work, one of your technicians from Infiniti (Michael) stopped by the Lexus dealer to try to work up a deal for a 2008 certified, pre-owned IS250. Everything went fine until we got to his trade which is a 2006 black G35 6MT coupe, 67K miles, and every bolt-on mod you can think of including a Top Secret front bumper, suspension, rims, exhaust, plenum spacer, etc. It looks nice and all except he owes a little over $17K. He was looking to get 15.5K for his car but we hit it at 13K. He got up and simply said "You can stop right here, we have nothing to discuss, give me my key..."
He pretty much walked out without even giving us an opportunity to work with him. What is wrong with people like him these days, thinking that just because they work at a dealer and know exactly what their car's worth based on "blue book value" and what he claimed his used car manager told him without purchase, gives them what they think a better advantage over us as a dealer? We always go by the black book, nothing else, and on the same token we're trying to make some money on our end
V, if you ever come across with him at your work, tell him that if he wants to give us a chance, he should get a printout of the appraisal on his car from the used car manager at OI and come back to the dealership. I didn't get a chance to give him my card since he left kinda abruptly but you can give my cell if he would like to contact me.
