Opinions on trading in my car for 2011 V6 stang - Ford Mustang Forum
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post #1 of 18 (permalink) Old 06-13-2010 Thread Starter
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Opinions on trading in my car for 2011 V6 stang

Hi there, So recently I've been trading in my 2008 Honda Civic Si for a Stang. The Civic only has 17K but the Stang just looks so sweet and that 31 mpg is very good too and the 6 speed stick shift . So I still owe on my Civic about 13 grand which is less than what the car is worth, which is a good thing right?

So I would appreciate if you guys could tell how to get a deal on a Stang with me doing a trade in because I've never done a car trade in where I still owe on my current car.

Thanks!

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post #2 of 18 (permalink) Old 06-13-2010
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Great to have you on AFM, Sounds like a solid trade but you might still be upside down for your trade which would be added to your V6 total and your monthly payment, if you can handle that aspect of it , get yourself a Mustang. That's what I did when I traded any have never been happier with the deal I made higher or not I didnt care.


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post #3 of 18 (permalink) Old 06-13-2010
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When it is a all possible, sell your car outright and don't trade it in. If you do decide to trade it in, keep a few things in mind. Dealers are good at making it sound like you are getting a good deal. They need to make money on your trade-in and have to insure it while they have it. The key is knowing what the deal is. Let's say a dealer has 4k to play with on a new car and you could easily get 2k off without a trade in. They may make it look like your are getting a good deal on the trade when in fact, the same money could have come off the price of the new car. If they give you 16 and you owe 13, the 3 will come off the price of the new car (like a down payment). Know what the retail on your car is worth before dealing and don't expect to come out just as good as if you sold it outright.

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post #4 of 18 (permalink) Old 06-13-2010 Thread Starter
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Great to have you on AFM, Sounds like a solid trade but you might still be upside down for your trade which would be added to your V6 total and your monthly payment, if you can handle that aspect of it , get yourself a Mustang. That's what I did when I traded any have never been happier with the deal I made higher or not I didnt care.
Thanks! Yeah I'm kinda trying to avoid having a higher payment and also paying for two cars, one of which I wouldn't be driving anymore. So you think it would be if I sell my Civic on my own instead of trading it in?
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post #5 of 18 (permalink) Old 06-13-2010
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That is the better way to sell it outright as long as you can sell for what you owe or more if your can.

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post #6 of 18 (permalink) Old 06-13-2010
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Selling it yourself is the best, trading it in is the easiest.

You owe 13, they want to give you 14(and sell it for 17), but by dealing with the tire kickers, you could pull down 15-16. Dealers are looking at how much they can buy or sell your car at auction and overall profit out of the entire deal.

You negotiate your price on the Mustang (probably not a lot of room) then negotiate your trade. A salesperson should know that you're trading it in anyways.
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post #7 of 18 (permalink) Old 06-13-2010
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Selling out right is not always better, in my case I traded my 2009 Gt in for my 2010 Shelby and they gave me 25k for my trade, which was like getting close to 27k cause of the TAXES I saved between my trade and the new car,and I still got 4k under MSRP on my ride.So it definately depends on the deal you can get at the dealership,most of the time they are eager to make a deal and will offer a very sound one,just make sure it is!!!

As far as selling it yourself, this could be an ok thing if you get top dollar for your ride,but don't forget this process takes longer and you have to mess with the riff raff and tire kickers not to mention it puts off your plans on the car(stang) you want now...Oh and also a big one is..You'll be making extra Car Payments(finance charges)while your waiting to sell...

GO FOR A TRADE BUT MAKE SURE THEY DON'T SCREW YA, be smart about it!!!!
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post #8 of 18 (permalink) Old 06-13-2010
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I prefer to sell myself. There are THOUSANDS of dollars to be made by doing it yourself. Pay for ads, get free ads, but advertise that crap out of it.

You'll get a ton of calls from people who want to help you advertise it some more -- ignore them. If someone calls and asks, "do you still have the vehicle for sale... they have no idea what your selling or care. They're just ad scammers.

A Civic Si will sell quickly. Don't let the dealer have YOUR money.

Since you owe, you'll have to work with the buyer to get the title after they give you the check. I think Capital One has a deal where they offer some escrow services and the UPS store for notarizing the deal (but it's been a few years since I went that route so check the details.)

Dealers make it easy for you to trade in a car. For good reason. Profit.
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post #9 of 18 (permalink) Old 06-13-2010
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Keep the Honda and forget about a Mustang. The Honda gets better gas mileage and is certainly a great car. The only thing which might be better about a Mustang would possibly be the feel of the shifter.
The Honda will certainly require fewer repairs and your car is not even broken in yet. Enjoy dreaming, but spend your money more wisely than on a new car you certainly don't need...as you already have a great car. Also the service departments at Honda Dealerships are much better at treating their customers properly than Ford Dealerships.
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post #10 of 18 (permalink) Old 06-13-2010 Thread Starter
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Thank for the replies guys. How can I make sure I don't get screwed on a trade in?

S197gt: You do have good point. I do love my Si but after I saw that V6 TV ad I was dam that's freaking nice!
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When deciding between trading and selling, factor in taxes, advertising, and the PIA of dealing with idiots. Unless you can get MUCH more selling it, go for the trade, if the offer is reasonable. Plus, you have a lien on your Civic, which makes it hard to sell outright.
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Bitter much?

You haven't been to MY local Honda dealership have you? They're more than happy to help but won't wipe a cupholder down without a half hour labor charge.

The Si is a great car but entirely different from a Mustang. Nothing beats a rear-wheel drive car for performance FEEL.



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Originally Posted by s197gt View Post
Keep the Honda and forget about a Mustang. The Honda gets better gas mileage and is certainly a great car. The only thing which might be better about a Mustang would possibly be the feel of the shifter.
The Honda will certainly require fewer repairs and your car is not even broken in yet. Enjoy dreaming, but spend your money more wisely than on a new car you certainly don't need...as you already have a great car. Also the service departments at Honda Dealerships are much better at treating their customers properly than Ford Dealerships.
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Quote:
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Bitter much?

You haven't been to MY local Honda dealership have you? They're more than happy to help but won't wipe a cupholder down without a half hour labor charge.

The Si is a great car but entirely different from a Mustang. Nothing beats a rear-wheel drive car for performance FEEL.

Yeah think this guy should be in a honda forum somewhere ,talking about Rice or something,........hello you in the right spot................
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When I first started looking for a new car I went to a Honda dealer to see if they had an Civic Si. Walked all around their lot for like 20 minutes, didn't see one. Walked in the show room a couple times, not a single person greeted me. I later e-mailed and they told me they "only have one in the entire state". Ha! doubtful.

I then decided if I'm going to spend that much for a new car, I might as well put a bit more down and get a Mustang.
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Civics are over-priced econo-boxes.

The new Mustang is a HUGE value leader.

I won't even consider comparing them side-by-side because there simply is NO comparison beyond the steering wheel and 4 tires.

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