Other Talk "Otterville" plus Religion/Politics

Buying/Selling a Car for the First Time

Old 03-06-08, 08:18 PM
  #1  
DVD Talk Platinum Edition
Thread Starter
 
Join Date: Aug 1999
Location: Seattle, WA
Posts: 3,673
Buying/Selling a Car for the First Time

I've decided to trade down my jeep and this is the first time I've done it. I'm wondering if there's anything I have to do in preparation to trade it in to the dealership.

I imagine have my title ready, but is there anything else? Also, I'll be trading my jeep for a Toyota, and the place I'll go to has very little to do with jeeps, do I need to get it checked out at a Jeep place, or should I be fine having the Toyota dealer do it?

I'm taking a test drive this weekend of Corolla and Yaris, is the goal for those mainly just to see if I like driving it, or should I pay attention to other things?
Wazootyman is offline  
Old 03-06-08, 09:05 PM
  #2  
DVD Talk Legend
 
Join Date: Jan 2000
Posts: 16,173
If you are trading in a jeep, better bring your own tube of lube, you are giong to get raped

Anything remotely gas guzzling these days and you aren't going to get anything for it. You might be better off with a personal sale on your own. Stick a sign in the window and drive it around.
4KRG is offline  
Old 03-06-08, 11:24 PM
  #3  
DVD Talk Legend
 
Heat's Avatar
 
Join Date: Dec 2000
Location: Central Illinois
Posts: 16,701
The Yaris is the "it" car, you should be able to actually negotiate a good deal on the Corolla. Also check out the Honda Civics, they are reasonable now that the Honda Fit has become popular.

For now, become very familiar with the Yaris and Civic over at www.edmunds.com , know the MSRP prices, invoice prices, options, and how much the options run as well as any rebates / sales incentives going on. And of course, the edmunds "TMV" (true market value) number - that is your goal. Do the same on the Civic & Fit, then go test drive the Civic / Fit so you have something to compare the Corolla / Yaris to as well as so that you can talk about how much you liked them when you talk to the Toyota salesman - if you are too eager of a buyer you lose negotiating room, if it seems that you are on the fence between Honda / Toyota you have much more leverage.

And keep in mind that your best way to buy is to actually email requests for quotes to 10 or 15 different dealers within 100 or so miles of you - the pages at edmunds listed below will talk about this.

http://www.edmunds.com/advice/buying...les/index.html
read the articles "10 steps to buying a new car" and "confessions of a car salesman".

Also check out these pages / stories:
http://www.carbuyingtips.com/scams.htm
http://www.carbuyingtips.com/carintro.html

And as mentioned above, sell the Jeep on your own, there is now way you will get a "fair" price at the dealer - or if they do it will be a shell game where they just charge you more for the car. When you sell the jeep, be sure to take cash only, no money orders / cashiers checks (easily forged these days).

How much of a down payment do you have? If you don't have a few thousand, keep driving your jeep and start putting $400 / month into a savings account to build up your downpayment - the $400 representing what your new car payment would be. If you have trouble making this payment to yourself each month, you can't afford the car. And as for loans, be sure to check out the rates at credit unions. Aren't a member of a credit union? Join one, or check out www.penfed.com (pentagon credit union, anybody can join but some may have to pay a fee).

Last edited by Heat; 03-06-08 at 11:30 PM.
Heat is offline  
Old 03-06-08, 11:25 PM
  #4  
DVD Talk Platinum Edition
Thread Starter
 
Join Date: Aug 1999
Location: Seattle, WA
Posts: 3,673
Hence why I'm trading in the Jeep.

It's more likely I could get more from a private sale than the dealership? Wouldn't it be more likely that a private sale person would deny me?
Wazootyman is offline  
Old 03-06-08, 11:33 PM
  #5  
DVD Talk Legend
 
Heat's Avatar
 
Join Date: Dec 2000
Location: Central Illinois
Posts: 16,701
Originally Posted by Wazootyman
Hence why I'm trading in the Jeep.

It's more likely I could get more from a private sale than the dealership? Wouldn't it be more likely that a private sale person would deny me?
If you don't know what a private sale is, you really need to start reading / studying the system or else you are going to get ridden hard and put up wet at the dealer. Take some time, don't rush into a purchase.

"Private sale" means that *you* sell the jeep. Put ads in the windows, on grocery store bulliten boards, on craigslist, and the weekend newspaper, wherever is common in your area to put ads.
Heat is offline  
Old 03-06-08, 11:41 PM
  #6  
DVD Talk Legend
 
Matthew Chmiel's Avatar
 
Join Date: May 2000
Location: Las Vegas, NV
Posts: 13,263
You NEED to sell the Jeep in a private sale.

The dealers are going to rip your asshole in two and then sell it at quadruple the rate they bought it from you at.

My co-worker has a Jeep that's over 20 years old and he gets offers all the time on the street from people offering up to ten grand for it. Then again, the people in Vegas are nuts, so take that at face value...

I ended up buying the Honda Fit Sport this past summer and I got $1500 for my trade-in, a 1996 Nissan SE pickup, a surprise considering my truck needed repairs that equaled the same value. I was originally looking at the 2008 Scion XB, but the Toyota dealership wanted to only give me $800 for the truck.
Matthew Chmiel is offline  
Old 03-07-08, 07:25 AM
  #7  
DVD Talk Legend
 
Join Date: Jun 1999
Location: USA
Posts: 12,244
http://www.edmunds.com/advice/sellin...0/article.html
Brian Shannon is offline  
Old 03-07-08, 07:30 AM
  #8  
DVD Talk Gold Edition
 
Join Date: Nov 2005
Location: Galt's Gulch
Posts: 2,623
What type of Jeep is it?
John Galt is offline  
Old 03-07-08, 07:43 AM
  #9  
DVD Talk Hall of Fame
 
Join Date: Nov 1999
Location: Austin, TX
Posts: 8,757
Not to hijack this thread, but I was actually going to start a similar one. I'm thinking about buying a new car as well.. Right now, I have a 1999 Infiniti with about 90,000. I haven;t done the 90000 maintenance on it yet which will run me around $400ish... My question is should I bother to do it?.. and to add on to that question to make it more general, if i'm selling a car, should I make sure the belts are changed, plugs are new, etc? Is it better for me to pay out of my pocket or take a little less in the sale of the car?
j123vt_99 is offline  
Old 03-07-08, 07:47 AM
  #10  
DVD Talk Gold Edition
 
Join Date: Nov 2005
Location: Galt's Gulch
Posts: 2,623
Spend as little money as possible but make sure it appears to be in excellent working order (ie if the belts are squeaking or have cracks in them, then replace them). Especially if selling to a dealer, they couldn't care less about a 90,000 mile service as they're just going to go and do the same thing to it when they prep the car to sell.

Last edited by John Galt; 03-07-08 at 07:50 AM.
John Galt is offline  
Old 03-07-08, 09:06 AM
  #11  
DVD Talk Special Edition
 
Join Date: Nov 2000
Location: Northern VA
Posts: 1,445
Just to add to the conversation here. I know people have said to sell it private, but I'll post some tips if you did wind up trading in. (I believe www.edmunds.com has a guide to negotiating you might want to look at). I'm sure you have bought a new car before, but I'll just put my whole routine down here anyway which includes trade in.


First, you need to go to www.edmunds.com like folks above said and get the new car price with the options you want and print it out. Then you need to get the trade in and private sale values for your jeep. Be honest about the condition to yourself.

I would have the jeep washed and cleaned well.


When you get to the dealer, the number one thing is to keep everything seperate. That is, talk about one thing at a time. The way dealers make money is they give on some things, but then make it up on others (like financing, trade in, etc).

1. Don't mention your going to trade in your jeep. Say your going to sell it to a friend and he is waiting for you to get your new car. Act like your in NO RUSH at all and are really just seriously looking. Right now your doing nothing, but finding the car you want and negotiating the price of your new car. They will ask about trade in, financing, etc. Just say all of that is taken car (your own loan or cash, etc) of so doesn't matter. Do not talk about monthly payments, they will just add and take away years on the loan. You don't want to talk about loans or monthly payments. If you get the price on the car you want, the monthly payments will be whatever they are. Stay focused on the price.

2. Once you figure you can't get them any further on the price of the new car and have it ON PAPER IN FRONT OF YOU (they usually do this automatically with some BS line written under it like "great deal OTD!"), then say, "well, what would you give me for my jeep out there?" They might be surprised since you said it was being sold to your friend, but say that he doesn't have to have it, he would just be willing to buy it off you for a second car or something. They will take a look at your jeep and find a ton of stuff they don't like. Now you break out the edmunds print out and show it to them and tell them your not happy with the offer. Negotiate the price of your trade in. DO NOT TALK ABOUT THE PRICE OF THE NEW CAR, your done there, tell them your happy with the price they gave you on the paper and there is no need to talk about it.

3. Once your get the best trade in price locked down on paper have them set it up and then if your going to finance through them, go talk financing with the guy in the back. Know what rate you can get from your local bank or credit union. A note about this:

Ford has their own credit company. I'm not sure if Toyota or the others do. It's very nice because you can get online and get preapproved for a very competitive rate. You bring the slip into the dealer and they have to give you the ford loan at that rate. They have nothing to say about it because your preapproved. You need to make sure they don't trick you and try to get you on a loan with a local bank. This is their last chance to make money. They will take a loan from suntrust or something for 4% and then give it to you for 5% and make money off you.

If your car company doesn't have a corporate credit firm like that, then you can take whatever financing offer they have for you. Just know that you can get the same loans from the local banks that they can so make sure you know the rates so they better match or beat what you can get on your own.

Key is to be prepared to walk at any time and make sur ethey know it. Always keep all the negotiating seperate, your trade in has nothing to do with the price of the car. The financing has nothing to do with the price of the car.
Jeeden is offline  
Old 03-07-08, 09:08 AM
  #12  
DVD Talk Special Edition
 
Join Date: May 2001
Posts: 1,340
Yaris is awfulllll. It's cute on the outside, but the inside is cheap looking plastic and it's ridiculously tiny.
kaze0 is offline  
Old 03-07-08, 09:24 AM
  #13  
DVD Talk Hall of Fame
 
Join Date: Nov 2000
Location: On the banks of the Red Cedar
Posts: 9,867
You may want to look into the Scions as well. I like the xA and xD, but I am not a fan of the new xB

[Hank Hill] Don't pay a dollar over sticker price [/Hank Hill]

There is a white Fit for sale on the bulletin board w/ only 3700 miles on it, if you want a slightly used model and a trip to East Lansing, Michigan!

Last edited by jonw9; 03-07-08 at 01:18 PM.
jonw9 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.