I 'm thinkin of getting the new Infinit FX45 and want to trade in my 03 TL-S. But I'm still financing my car so I was wondering how the trade would work.

Would they offer me a price for my car and use that towrds my purchase. At the same time, I would need to be making my current payments as well as the additional coast of the car-minus the trade in value correct?

If so, I'll be having lots of mods for sale.

 

yes..u will lose a lot of $$$ on the mod
as dealers do not give a sh@t at your mods
and all u can do is try to make it back to as stock as possible
and sell the mod parts to private party
and try to get as much $$ on your cls as trade in value
dealer will take care of your financing ..i believe so.
and they will set up a new loan on the new car for u..
that is basically how trade in works..
however, u've got to know the bottom line of the value of your 03 cls lol..
i know your cls is still new..however, once the new car is titled.
it is considered as used car..and the price drops like hell..
so..be prepare to see the terrible price that your dealer is willing to offer your 03 cls. however..u just need to pay the tax differences between the new car and your cls trade-in
good luck

 

If you have on 03, depending on how much you still owe on your car, you could up losing your ass on a trade.

 

1st, you drop your pants
2nd, bend over
3rd, take the anal rape
4th, sign the papers
5th, say goodbye to cls
6th, see car on lot for sale 2 days later for $6000 more than they gave for trade in

 

dont forget the astro-glide

 

To do it right, DONT negotiate by payments. Work from price and figure payments and term out yourself ahead of time. Know what your willing to pay for the new car and what you want for the trade. They always want to work from payments since they can extend the term by a year or two to get any price and interest rate they want.

 

NEVER NEGOTIATE BY PAYMENTS!!!

 

Try selling to a private party, u always get fucked on a trade in

 

Have you ever heard the ad "WE'LL PAY OFF YOUR TRADE NO MATTER HOW MUCH YOU OWE! Negative equity will be applied to new loan balance! "?

Negative equity means you owe more for the car than the dealer is paying you for it. Some dealers will say you are "upside down" on your financing. Unless you are paying your loan well ahead of schedule, you are typically "upside down" for the first few years. For example, if you owe $25K on your current car and the dealer is only willing to give you $20K for it as a trade-in, you have $5K in negative equity. The dealer is more than happy to add $5K to your new loan balance to cover your negative equity.

Continuing this example, say you negotiate a deal for $30K for that new car and $20K for your trade in. The dealer takes your trade in and actually gives your bank (not you) the $20K toward paying off your car. But you still need another $5K to pay off the car. So the dealer generously loans you that $5K and gives it to your bank to finish paying off your trade in. So now you have a $30K car loan plus a $5K loan for your negative equity for a total loan of $35K.

Since the loan is so high relative to the value of the car, it is very difficult to get a good interest rate. So you will likely have a $35K loan at a very high interest rate.

You now have a new car and a new loan of $35K with a very high interest rate. But as soon as you drive that new car off the lot its value drops to $27K. So immediately you have $8K in negative equity on your new loan. The only real winner in this case is typically the dealer.

 

Dam, that was well explained. Shit, guess I'll have to think harder about trading in my TL-S

 

Don't mention anything about a trade, either, until you have the lowest price, IN WRITING, you're willing to pay. If the dealer knows you have a trade, he can offer you more in trade, potentially, but he'll make it up with a higher price on the new car.

 

Werd.

Finalize the number of the new car in writing, then say, oh by the way i have a trade.

 

How To Buy A New Car And Avoid Dealer Scams

 

Whats the difference. He'll probably then try to jack you on the trade

 

Even if you are losing on the trade, you're not financing the hidden amount over the life of the loan. Saves you interest. You could try selling it yourself, too.