Car Advice

[2pacnbiggie]

I made a thread like this a lil while ago but things changed a lil bit for me...

so anyway i have a 2007 pontiac g5 that i got last year it was 14k. I gotta 72month loan where im paying 211 a month, right now i owe roughly 10,600 left to go on my loan.

I like the car but problem is i want something bigger like a Grand Prix or a Charger.

Im thinkin about trading in for like a 04-05 grand prix or a 05-06 charger.

any suggestions? would i be able to do a trade in and get them to pay my loan off, and get a shorter loan ( like a 2-3 year loan) and a little bit lower payment?

im thinkin of going to da dealership where i got the car, or goin to carmax to see what kinda deal i could get...

but usually if ur trading in a newer car for a older car do they give u a deal

i never traded in before so i was jus wondering any info would be appreciated

 

[PuffnScruff]

you might be better off trying to sell the car yourself through autotrader or something like that. it doesnt hurt to ask the dealership either

but damn a 07 g5 for 14k? i didnt know you could get them that cheap

 

[ARon]

Aint they g6's?

Sometimes you will see dealerships with deals like we'll pay off any trade in value, but then they add it to your loan. The value of each vehicle is what is gonna matter. But yeah, when you buy the new car you can pretty much specify what type of loan you want, the length and what not, if your credit works with it.

I think Deez works for a dealership so hope he replies.

 

[DeeezNuuuts83]

so anyway i have a 2007 pontiac g5 that i got last year it was 14k. I gotta 72month loan where im paying 211 a month, right now i owe roughly 10,600 left to go on my loan.

$14k for a brand new Pontiac? That's hard to believe, unless you got tricked into a lease.

any suggestions? would i be able to do a trade in and get them to pay my loan off, and get a shorter loan ( like a 2-3 year loan) and a little bit lower payment?

Usually if you trade in a financed vehicle that isn't paid off, what they do is they pay off the balance of your loan and include that amount in the purchase price of the vehicle. But you're fucking retarded if you think you can pay LESS per month for a SHORTER term. The trade-in aside, the numbers won't add up correctly. If you trade your car for a new one, your monthly payment would shoot up quite a bit, even if you stuck with a 72-month financing term since you're not just paying for the new vehicle but for the remainder of the original vehicle.

Unless you've either got money to burn or really dislike your Pontiac, your best bet would be to stick with it until it's paid off, otherwise you'll take quite a financial hit, especially when you get dicked over for the trade-in value and the payoff.

 

[2pacnbiggie]

you might be better off trying to sell the car yourself through autotrader or something like that. it doesnt hurt to ask the dealership either

but damn a 07 g5 for 14k? i didnt know you could get them that cheap

Actually igot my g5 last august it was higher back then, now i've seen them being sold for about 12k in sales papers/auto ads and shit...

i never really fucked with autotrader or sold a car myself or none of that stuff so im a little skeptical about that and im not too familiar with the whole car selling process by urself so im kinda leanin more towards jus tradin it in

Aint they g6's?

^^
naw its a g5 its a brand new pontiac car that came out for 2007 they debuted them a year ahead cuz i got mines in the middle of 06 when they first came out. Thats actually the exact color and everything that i have of my car. I only got roughly 8k miles on it 2.

Sometimes you will see dealerships with deals like we'll pay off any trade in value, but then they add it to your loan. The value of each vehicle is what is gonna matter. But yeah, when you buy the new car you can pretty much specify what type of loan you want, the length and what not, if your credit works with it.

I think Deez works for a dealership so hope he replies.

Yea im sure my credit should work good enough for a trade in. So say i owe about 10,600k on my loan now...and the car i wanted to trade for lets say it was 4, they would flip it so i owe 14k on the car im tradin for and start off a new loan where im payin off 14k on the car i traded for? is that how it goes?

is there ever a instance where they'll give u a deal cuz ur trading in a new/current car for a car thats like 3-5 years old or older?

 

[2pacnbiggie]

$14k for a brand new Pontiac? That's hard to believe, unless you got tricked into a lease.

Naw it wasnt a lease, they sell four as low as $12-13k that i've seen in sales lately the msrp is roughly $15k

Usually if you trade in a financed vehicle that isn't paid off, what they do is they pay off the balance of your loan and include that amount in the purchase price of the vehicle. But you're fucking retarded if you think you can pay LESS per month for a SHORTER term. The trade-in aside, the numbers won't add up correctly. If you trade your car for a new one, your monthly payment would shoot up quite a bit, even if you stuck with a 72-month financing term since you're not just paying for the new vehicle but for the remainder of the original vehicle.

Well i was thinkin bout trading in for a used 04-05 grand prix or a used charger, thats why i was wondering if i traded in for a used gp or a charger, would i be able to getta shorter term and pay less a month if i went with a used car. Im not desperate to trade it in i was just considering, because eventually i'll pay the whole car off early, im jus curious as to how trades work.

Unless you've either got money to burn or really dislike your Pontiac, your best bet would be to stick with it until it's paid off, otherwise you'll take quite a financial hit, especially when you get dicked over for the trade-in value and the payoff.

Yea i pretty much figured that much from what i've read so far about trade ins. I like it tho i jus want something bigger ill prolly end up waitin til i pay the whole thing off anyway

 

[DeeezNuuuts83]

Yea im sure my credit should work good enough for a trade in. So say i owe about 10,600k on my loan now...and the car i wanted to trade for lets say it was 4, they would flip it so i owe 14k on the car im tradin for and start off a new loan where im payin off 14k on the car i traded for? is that how it goes?

is there ever a instance where they'll give u a deal cuz ur trading in a new/current car for a car thats like 3-5 years old or older?

This is how it works. And these are all HYPOTHETICAL numbers just for the purpose of examples.

The selling price of the car you want (after negotiating): $15,000
Fees (tax, registration, etc.): $1,537
Trade-in value: $10,000 (-)
Estimated pay-off: $10,600
Subtotal (selling price + fees - trade-in value + pay-off): $17,137

So based on this example, $17,137 is the amount that you would have to finance. (I used your actual pay-off, and unless you put a BIG down payment, it is very common for the pay-off to exceed the value of the car, so a lot of people end up in the negative.) The actual monthly payment would depend on your down payment, credit score, financing option (through the dealership or through a credit union), length of financing term, etc.

 

[ARon]

I'm bein too lazy to go look but a used 04-05 Grand Prix or Charger is going to be more than 15,000, I think. Your best bet I think would be to sell what you have now. You said you around 10600 and they are selling right now for 12-15, so sell it and use what you have left over on a down payment on the car you want. But yeah your payments are not gonna go down if that is what you want. The only way your payments will go down is if you refinance what you have now, but then you're stuck with what you got and you'll be paying longer.

 

[2pacnbiggie]

This is how it works. And these are all HYPOTHETICAL numbers just for the purpose of examples.

The selling price of the car you want (after negotiating): $15,000
Fees (tax, registration, etc.): $1,537
Trade-in value: $10,000 (-)
Estimated pay-off: $10,600
Subtotal (selling price + fees - trade-in value + pay-off): $17,137

So based on this example, $17,137 is the amount that you would have to finance. (I used your actual pay-off, and unless you put a BIG down payment, it is very common for the pay-off to exceed the value of the car, so a lot of people end up in the negative.) The actual monthly payment would depend on your down payment, credit score, financing option (through the dealership or through a credit union), length of financing term, etc.

thanks for the breakdown.

puttin a downpayment for a trade in is optional right? or is that just to try to get a lower note? i've heard a couple stories from people where all they did was jus bring in their carnote payment books/give em their social and they did the trade like that without a downpayment on the trade...

and on another off topic note...

has anybody seen the new 2008 g8...heres a pic..

 

[DeeezNuuuts83]

puttin a downpayment for a trade in is optional right? or is that just to try to get a lower note? i've heard a couple stories from people where all they did was jus bring in their carnote payment books/give em their social and they did the trade like that without a downpayment on the trade...

It depends on a few factors. If you've got a good credit score, then you can probably get away with 0 down. Some dealerships count the trade-in as a down payment, while some subtract it from the subtotal right away. But if you have extra cash, I'd recommend throwing some down to lower your monthly payment, which saves you money later on (since there is a smaller balance to be financed). In addition, if you put a big enough down payment, you won't really need to get GAP insurance, which is basically another way car dealerships make money off of you.

and on another off topic note...

has anybody seen the new 2008 g8...heres a pic..

Ugly.

 

[SiGh]

^co sign.

They arent that good looking.

 

[DeeezNuuuts83]

^ Yup. Top Pontiac looks like a riced-out one, bottom one looks like a vulture.

 

[linx]

If I may go off topic for a second please, I just wanna ask Deeeez something quick since he seems like he can answer my question.

DeeezNuuuts:

I've had my car for about 7 months now and I haven't been comfortable with it yet. What I mean is, the way the car is. Like the way it runs and shit. Cause i've had problems with it from day one. I got the big problems fixed (had to pay myself of course, I really got fucked with this car.. but I won't get into that) and now i'm having stupid small problems (atleast I think they're small). My real question is..

Is it possible for me to get rid of the car (I FINANCED) without fucking up my credit/money situation? I don't wanna turn my credit into bad credit and I don't wanna get rid of the car if I have to pay money on this and that still. Basically if I gotta dish out a bunch of money I wouldn't want to.

 

[DeeezNuuuts83]

Is it possible for me to get rid of the car (I FINANCED) without fucking up my credit/money situation? I don't wanna turn my credit into bad credit and I don't wanna get rid of the car if I have to pay money on this and that still. Basically if I gotta dish out a bunch of money I wouldn't want to.

It is very possible for you to get rid of the car without negatively affecting your credit score. In all honesty, the only thing that would bring your credit score down is missing a payment. However, to get rid of your current car for a new car will make you take a financial hit no matter what. It would be safest for you to just stick with the car you have now, unless it just bothers you that much. Not to be a dick, but you should've researched the car through the internet and through test drives long before buying it.

 

[PELLA]

stay clear from domestic cars, theyre the worst.

 

[DeeezNuuuts83]

^ True. The only domestic I would ever buy is the Corvette C6 Z06. If I had the money, that is.

 

[gaylord]

what about the viper? dunno, you said the vette, so i immediately thought of it's longtime rival... even a firebird or a camaro? from what i've heard these were relatively reliable cars.... relative to other american cars, but... hell, i'd get one of those if i could...

 

[DeeezNuuuts83]

what about the viper? dunno, you said the vette, so i immediately thought of it's longtime rival... even a firebird or a camaro? from what i've heard these were relatively reliable cars.... relative to other american cars, but... hell, i'd get one of those if i could...

The C6 Z06 shits all over the current Viper. The Viper is all about raw American muscle and exclusivity, whereas the Z06 was GM's efforts at trying to provide the entire package, and it does so for less money than a Viper. The Firebird and Camaro are currently out of production and have been for several years, and personally I'm not really looking forward to the upcoming Camaro. Reliability aside, they just weren't well-built cars and were far from being a good overall package. Camaros had crappy brakes and handled like boats.

 

[linx]

Not to be a dick, but you should've researched the car through the internet and through test drives long before buying it.

Well from what I read, the car was nice in general. Good everything. And I took it for a test drive and it seemed fine. Then when I got it, boom. There's a big story behind it that I don't feel like getting into, haha.

 

[PuffnScruff]

The C6 Z06 shits all over the current Viper. The Viper is all about raw American muscle and exclusivity, whereas the Z06 was GM's efforts at trying to provide the entire package, and it does so for less money than a Viper. The Firebird and Camaro are currently out of production and have been for several years, and personally I'm not really looking forward to the upcoming Camaro. Reliability aside, they just weren't well-built cars and were far from being a good overall package. Camaros had crappy brakes and handled like boats.

i way say the opposite about the camaros. i had a 94 camaro and it handled great. i would drive it all around curvy country roads at high speeds and it handled damn well. my dad has a 98 camaro that he purchased slightly used in 02 wiht about 20,000 miles on it. a lot of times his job has him drive from office to office across state and he has put many miles on it since owning it. he had over 220,000 on it last time i drove it in december. the car hasnt had any major problems at all and it handled just as well as my old camaro.

ive never had a problem with my brakes on my old camaro either. there were plenty of times those brakes saved me from hitting a deer while doing 60.

i have driven boats. many differen models of cadillacs (currently driving one), lincolns, oldsmobiles ( i mean really big olds like delta88's), the camaros i have driven didnt handle or drive anything like a boat