Hwy. Robbery
Melting Slicks
Joined: Aug 2006
Posts: 3,056
Likes: 10
From: Wisconsin
If you are serious about purchasing a new one, check with other dealers and consider selling it yourself.
THere are dealers out there that have folks looking for a car just like yours. You never know, try Car Max for an outright sale as well.
THere are dealers out there that have folks looking for a car just like yours. You never know, try Car Max for an outright sale as well.
Bow-Tie Guy
Joined: Dec 2004
Posts: 1,057
Likes: 30
From: Chesapeake VA
Safety Car
Joined: Feb 2007
Posts: 4,939
Likes: 448
From: CHOCOWINITY NC
I'm sure not all those are being replaced with '08's. It would be time for 3 year leases on eary '06's to be running out. Turn-ins are probably headed to the auction which is further devaluing prices.....
Team Owner
Joined: Aug 2003
Posts: 38,314
Likes: 35
Here in the northeast, Galves and not KBB is the reference typically used to determine trade in value.
The LS3 is definitely having an effect on prices and trade in values of pre '08 Corvettes.
One dealer is offering a brand new '07 convertible for 8K off sticker.
The LS3 is definitely having an effect on prices and trade in values of pre '08 Corvettes.
One dealer is offering a brand new '07 convertible for 8K off sticker.
Melting Slicks
Joined: Aug 2007
Posts: 2,641
Likes: 80
From: Florida
Hi Joe,
Kinda like the quote from the movie, Field Of Dreams...."Build it and they will come." In this case it's, "Build it and they will Buy."
AL
Instructor
Joined: Mar 2007
Posts: 107
Likes: 0
From: McKinney TX
First, let's be clear...he didn't get the trade offer from Kerbeck!!!!
I just read the post and even to me it sounded like we offered him $5,000 off MSRP and then the trade number. We are giving $5,000 off our remaining 2007 Z06s, but we didn't give him a number for his trade...that was the other dealer who wouldn't budge from the price of his used Z!
As far as Kelly and Edmunds, they're good guides, but they are usually behind the trends by a few weeks. Sometimes their high, sometimes, their low.
Most dealer go by weekly auction results. They track what a car has done at the auction over the past few weeks. Not only does this give a value, but it also shows if a particular model is trending up or down.
Dealer get these results from all over the country every day. It usually take a few weeks for the online sites to catch up with a trend.
Right now, Corvettes are trending down a bit. Probably the announcement of the new motor has caused a lot of trade ins so the supply is up. Also, with 0% on NEW 2006s and huge discounts on NEW 2007s, dealers at the auction are not willing to spend as much on the cars to put on their lots when it's so attractive to buy a new one.
I just read the post and even to me it sounded like we offered him $5,000 off MSRP and then the trade number. We are giving $5,000 off our remaining 2007 Z06s, but we didn't give him a number for his trade...that was the other dealer who wouldn't budge from the price of his used Z!
As far as Kelly and Edmunds, they're good guides, but they are usually behind the trends by a few weeks. Sometimes their high, sometimes, their low.
Most dealer go by weekly auction results. They track what a car has done at the auction over the past few weeks. Not only does this give a value, but it also shows if a particular model is trending up or down.
Dealer get these results from all over the country every day. It usually take a few weeks for the online sites to catch up with a trend.
Right now, Corvettes are trending down a bit. Probably the announcement of the new motor has caused a lot of trade ins so the supply is up. Also, with 0% on NEW 2006s and huge discounts on NEW 2007s, dealers at the auction are not willing to spend as much on the cars to put on their lots when it's so attractive to buy a new one.
Thanks for clearing this up.
Thread Starter
Racer
Joined: Aug 2003
Posts: 488
Likes: 0
From: TARPON SPRINGS FL
New Deal Offerd
Kerbec was right they offerd me a 07 z at 72000 new . No mention of trade ,another dealer offerd me 32000 ,now my phone has not stopped ringing all day ,Ferman in tarpon springs has this to offer ,07 z loaded 75900 with giving me 43000 for my 06 a6 ,im upside down by negitive equity ,i only paid 44900 for this car 90 days ago and financed tax total owed now 48000 .This is there plan 5000 down and my car they take care of what i owe , 84 months at 1325 , what do you think ? thats the best offer so far .
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Le Mans Master
Joined: Mar 2007
Posts: 6,666
Likes: 14
From: Mission Viejo CA
Kerbec was right they offerd me a 07 z at 72000 new . No mention of trade ,another dealer offerd me 32000 ,now my phone has not stopped ringing all day ,Ferman in tarpon springs has this to offer ,07 z loaded 75900 with giving me 43000 for my 06 a6 ,im upside down by negitive equity ,i only paid 44900 for this car 90 days ago and financed tax total owed now 48000 .This is there plan 5000 down and my car they take care of what i owe , 84 months at 1325 , what do you think ? thats the best offer so far .
I would not rush into this, but it's your money amigo. Good luck.
Former Vendor
Joined: Oct 2004
Posts: 8,127
Likes: 1,656
From: Atlantic City NJ
Kerbec was right they offerd me a 07 z at 72000 new . No mention of trade ,another dealer offerd me 32000 ,now my phone has not stopped ringing all day ,Ferman in tarpon springs has this to offer ,07 z loaded 75900 with giving me 43000 for my 06 a6 ,im upside down by negitive equity ,i only paid 44900 for this car 90 days ago and financed tax total owed now 48000 .This is there plan 5000 down and my car they take care of what i owe , 84 months at 1325 , what do you think ? thats the best offer so far .
As far as the 07Z...$75,900 is not loaded. Is that the MSRP or the price? A loaded Z06 would be $77,990. Even if they are selling the 07 at MSRP, it's a good deal. They're just using MSRP to show you more for your trade. Figure they are discounting $4,000 and giving you $39k for your trade...they come out to be the same deal, but you would flip if they told you $39 for your car.
Watch the interest rate. They have been climbing so shop the rate.
Team Owner
Joined: Aug 2003
Posts: 38,314
Likes: 35
Kerbec was right they offerd me a 07 z at 72000 new . No mention of trade ,another dealer offerd me 32000 ,now my phone has not stopped ringing all day ,Ferman in tarpon springs has this to offer ,07 z loaded 75900 with giving me 43000 for my 06 a6 ,im upside down by negitive equity ,i only paid 44900 for this car 90 days ago and financed tax total owed now 48000 .This is there plan 5000 down and my car they take care of what i owe , 84 months at 1325 , what do you think ? thats the best offer so far .
They're giving you 43K leaving you 5K in the hole.
You pay the 5K and then carry the 75,900 for 84 months at 1325.00 per month.
Works out to an interest rate of 11.25% or thereabouts.
Ooops, forgot you pay 6% sales tax on your cars in Florida, right?
75,900 -43,000= 32,900 * .06= $1974.00 for your sales tax if you are paying 6% on the difference.
The way I see it, you'd end up leaving out of there owing 75,900 + the 1974 in sales tax
75900 A payment of 1325.00 would still put you around 11% on the interest unless you have thrown in a warranty or gap insurance or something else you are leaving out.
Last edited by '06 Quicksilver Z06; Aug 8, 2007 at 09:19 PM.
Team Owner
Joined: Aug 2006
Posts: 133,592
Likes: 30
St. Jude Donor '11, '16
[QUOTE=RedDevilR6;1561412603]Blue Book is NOT i repeat NOT a basis for the trade in price of the car. Not wholesale, OR retail. It is a LENDING guide for banks! QUOTE]
Do tell, that is a new one...
KBB is real world information, and dealers really hate that you have it as a consumer....
Do tell, that is a new one...
KBB is real world information, and dealers really hate that you have it as a consumer....
Team Owner
Joined: Aug 2006
Posts: 133,592
Likes: 30
St. Jude Donor '11, '16
Kerbec was right they offerd me a 07 z at 72000 new . No mention of trade ,another dealer offerd me 32000 ,now my phone has not stopped ringing all day ,Ferman in tarpon springs has this to offer ,07 z loaded 75900 with giving me 43000 for my 06 a6 ,im upside down by negitive equity ,i only paid 44900 for this car 90 days ago and financed tax total owed now 48000 .This is there plan 5000 down and my car they take care of what i owe , 84 months at 1325 , what do you think ? thats the best offer so far .
Former Vendor
Joined: Aug 2005
Posts: 5,774
Likes: 0
From: Loganville GA
You will almost always get more for your car by selling it yourself. The economics of a trade-in...the dealer has to sell your car at a markup to make profit or break even. The dealer has fixed and variable costs associated with turning a trade-in.
Good luck on getting the Z, that would be a hoot.
Good luck on getting the Z, that would be a hoot.
Team Owner
Joined: Aug 2006
Posts: 57,804
Likes: 1
From: Portrichey FL
St. Jude Donor '13
After test driving a c6 z06 [2007]fully loaded, atomic orange i had my taste buds opened for a new ride,but the dealer won:t budge ,75999 for a used 07 z with 2100 mi.I called kerbec in NJ.,new 08 z06s will be cheaper ,left over 07 list at 77,220, they discount 5000 .For my 06 c6 a6 3lt i was offord 32000 , what a smack in the face .Ill drive my vette into the gulf of mexico before i give it to him ,kelly blue book is 42700 wholesale and 47500 for sug. retail but the payment will be a mear 1650 per month for 84 months ,not.
Safety Car
Joined: Jan 2006
Posts: 4,598
Likes: 78
From: Miami FL
2020 C6 of the Year Finalist - Unmodified
St. Jude Donor '08-'09-'10-'11-'12-'13-'14-'15-'16,'17,'18-'19-'20-'21-'22
Since you asked . . .
. . . I WAS going to tell you what I really thought about someone who would buy a Corvette that he wants to trade on a "better" Corvette after only 90 days (!!!
) of ownership, and then complain about the severe financial hosing he would take.
But I checked your profile first, saw that you are a boxing trainer by profession, and Tarpon Springs is only a 5 hour drive to Miami, so I decided to keep my opinion to myself.
Good luck with whatever you do, and I hope you really enjoy whatever Corvette you find yourself driving in the future.
) of ownership, and then complain about the severe financial hosing he would take.But I checked your profile first, saw that you are a boxing trainer by profession, and Tarpon Springs is only a 5 hour drive to Miami, so I decided to keep my opinion to myself.
Good luck with whatever you do, and I hope you really enjoy whatever Corvette you find yourself driving in the future.
Thread Starter
Racer
Joined: Aug 2003
Posts: 488
Likes: 0
From: TARPON SPRINGS FL
Great Advice Guys
You know how u get blindsided when you want something ,this is a loaded z but remember it has 2100 mi on it. Your wright 84 months is a long time , i know im stuck between a rock and a hard place , my wife is freaking out , this is my 16 vette and have always lost money ,ive been paying for vetts since 1973 ,some guys have a drug habit, a women habit ,alcohol or gambling ,mine is vetts .Somehow i get to make the payments,but u have to pay if u want to play.Answer to your question the int. rate is 10%, thanks for your input ,if i had no trade i would be at kerbeck in the morning,i talked to a young girl at kerbec yesterday and i was amazed how much info she had and how pleasant she was, kerbec is on my favorits so im always checking them out , great people worth the ride.
Advanced
Joined: Jul 2007
Posts: 92
Likes: 0
From: Lilburn Georgia
I've been hesitiant to jump in on this one but I just got to say it .....
Step back and take a close look at his. What's your payment now? If I read the rest of the figures right, your going to be paying more with the new car and be upside down on the trade, right?
What's the difference between your new payment and the one you're making now? $300? .... $400 per month?
Put $1000 in a Vanguard mutual fund - try one of the International Index funds, then save $400/month for 24 months. If you net an 8% return (conservative) after taxes, you'll have about $11,500 .... 10%, you'll have over $12K. I'll bet you've got a mortgage and some credit card debt, right? Pay off your credit cards or work to get your car loan balance so you're not upside down on that loan .... in 2 years you'll have a credit rating that will get you less than 7% interest on a 48 month loan at any credit union and $12000 to put down + a better trade in situation to boot.
Take it slow, Mon.
Step back and take a close look at his. What's your payment now? If I read the rest of the figures right, your going to be paying more with the new car and be upside down on the trade, right?
What's the difference between your new payment and the one you're making now? $300? .... $400 per month?
Put $1000 in a Vanguard mutual fund - try one of the International Index funds, then save $400/month for 24 months. If you net an 8% return (conservative) after taxes, you'll have about $11,500 .... 10%, you'll have over $12K. I'll bet you've got a mortgage and some credit card debt, right? Pay off your credit cards or work to get your car loan balance so you're not upside down on that loan .... in 2 years you'll have a credit rating that will get you less than 7% interest on a 48 month loan at any credit union and $12000 to put down + a better trade in situation to boot.
Take it slow, Mon.