Can i do it?
Thread Starter
Drifting
Joined: Apr 2010
Posts: 1,578
Likes: 23
From: Waldorf, MD
Can i do it?
I have a 2010 Grand Sport in excellent condition, about 15,000 miles. I am not particularly enamored by the C7. I'm giving thought to trying to trade my Vette off on a 2013 Z06 for direct trade to a dealer. I have a very good relationship with my dealer who is a great Corvette dealer. My conditions would be direct trade with no increase in payments. I base this on the fact that a number of dealerships are trying to unload their C6 inventory, I know my dealer is begging for good trade ins, and my car has about $18K in equity according to KBB trade in values. Can I do it?
Team Owner
Joined: Dec 2003
Posts: 57,408
Likes: 164
From: queensbury ny
what's your payment?? Your car will probably sell on a dealers lot for 30 something since BRAND NEW 2LT GS's (I don't know what yours is since you didn't say) are or did sell in April anyway for 48 and change.A z06 is what,85 grand??Go to bankrate.com,look down and find "auto payment calculator" and plug in some numbers,term of loan and interest you think you'd get.80 GRAND - SAY 30 GRAND FOR YOURS -15 GRAND DISCOUNTS = 35 GRAND PLUS TAX,,TAGS AND HAT YOU CURRENTLY OWE.As an example...in short WE NEED MORE INFO!!
Team Owner
Joined: Aug 2012
Posts: 33,477
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From: resting comfortably in my mind
St. Jude Donor '14
Wait just a minute. you said keep the same payment, but nothing about the term, rate, or amount borrowed intitially. My suggestion to you would be to google "car payment calculators" and plot the numbers yourself, unless you want to put all of it out here. You may be able to get close by extending the term a bit, especially if you took a short note on the ten.
there is one dealer who has a few in the mid sixties I nthe dealer sale area.
there is one dealer who has a few in the mid sixties I nthe dealer sale area.
Last edited by flange; Jun 30, 2013 at 05:55 PM.
Safety Car
Joined: Aug 2010
Posts: 3,600
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From: F'burg VA
St. Jude Donor '13 thru '20,'22,'24 thru '26
Thread Starter
Drifting
Joined: Apr 2010
Posts: 1,578
Likes: 23
From: Waldorf, MD
not08cranymore and all,
Read again that I said trade-in according to KBB. They say $41K and I owe about $23K, diff is $18K. Some dealers on the web are showing $92K for a new Z06 discounted to $75K. $75K-$18K = $57K. Throw in a few grand for tax and whatever and your at $60K which is $1K/month.
what's your payment?? Your car will probably sell on a dealers lot for 30 something since BRAND NEW 2LT GS's (I don't know what yours is since you didn't say) are or did sell in April anyway for 48 and change.A z06 is what,85 grand??Go to bankrate.com,look down and find "auto payment calculator" and plug in some numbers,term of loan and interest you think you'd get.80 GRAND - SAY 30 GRAND FOR YOURS -15 GRAND DISCOUNTS = 35 GRAND PLUS TAX,,TAGS AND HAT YOU CURRENTLY OWE.As an example...in short WE NEED MORE INFO!!
Team Owner
Joined: Mar 2012
Posts: 49,235
Likes: 3,901
From: Best Island in the U.S.
St. Jude Donor '12 thru '17
Can you trade for a newer car and keep the same payment? Yup, that won't be any problem. Of course, your loan will be longer to pay the difference.
Trading cars and concentrating only on payment amount is a car dealer's wet dream. They can almost always get the payment you need but you'll usually get screwed.
Trading cars and concentrating only on payment amount is a car dealer's wet dream. They can almost always get the payment you need but you'll usually get screwed.
Team Owner
Joined: Aug 2012
Posts: 33,477
Likes: 273
From: resting comfortably in my mind
St. Jude Donor '14
did you happen ot tell anyone what your current payment is? Vette payments are all over the map, depending upon price, amount put down, term, and rate. my payment was seven thousand a month for six months.
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Team Owner
Joined: Jun 2005
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From: Northern, VA
St. Jude Donor '15
"In honor of jpee"
Can you trade for a newer car and keep the same payment? Yup, that won't be any problem. Of course, your loan will be longer to pay the difference.
Trading cars and concentrating only on payment amount is a car dealer's wet dream. They can almost always get the payment you need but you'll usually get screwed.
Trading cars and concentrating only on payment amount is a car dealer's wet dream. They can almost always get the payment you need but you'll usually get screwed.
Team Owner
Joined: Dec 2003
Posts: 57,408
Likes: 164
From: queensbury ny
Read again that I said trade-in according to KBB. They say $41K and I owe about $23K, diff is $18K. Some dealers on the web are showing $92K for a new Z06 discounted to $75K. $75K-$18K = $57K. Throw in a few grand for tax and whatever and your at $60K which is $1K/month.
Last edited by not08crmanymore; Jun 30, 2013 at 08:12 PM.
Thread Starter
Drifting
Joined: Apr 2010
Posts: 1,578
Likes: 23
From: Waldorf, MD
not08crmanymore,
If you can get that big discount, so can I. Its all relative. Its all about the deal.
If I can buy a 2013 for 48600,which I did,you will not be getting anywhere near 41 grand for your soon to be 4 year old car hence my numbers up there.
Team Owner
Joined: Dec 2003
Posts: 57,408
Likes: 164
From: queensbury ny
If you can get that big discount, so can I. Its all relative. Its all about the deal.
Race Director
Joined: Sep 2007
Posts: 16,557
Likes: 2,106
From: Peoria/Phoenix AZ
C6 of Year Finalist (performance mods) 2019
I've always found that selling my car privately and then buying the replacement for 100% down, has always got me the best prices on both sides of the deal. The bonus is, there are no monthly payments.
I hate debt, but if you have to finance, at least sell your car first rather than trade it.
I hate debt, but if you have to finance, at least sell your car first rather than trade it.
Le Mans Master
Joined: Jan 2006
Posts: 6,642
Likes: 450
From: Texarkana Texas
I think the best way to find out would be to take your car to the dealer and see what they will give for it. Then find out what they will take for the Z06 and find out what the difference is. Then you will know for sure.
Racer
Joined: Apr 2013
Posts: 449
Likes: 4
From: Palm Harbor Fl
I have a 2010 Grand Sport in excellent condition, about 15,000 miles. I am not particularly enamored by the C7. I'm giving thought to trying to trade my Vette off on a 2013 Z06 for direct trade to a dealer. I have a very good relationship with my dealer who is a great Corvette dealer. My conditions would be direct trade with no increase in payments. I base this on the fact that a number of dealerships are trying to unload their C6 inventory, I know my dealer is begging for good trade ins, and my car has about $18K in equity according to KBB trade in values. Can I do it?
You leave out too much info, New car price? your trade in value" dealer fees? sales tax( on difference between MsRP & trade in).
Terms of finance? rate and so forth. What's on the back end( finance guys) I only ask because I sold imports back in 06. There is too much missing info to give you a precise answer. You need to sit down and do the numbers. Good luck
