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YOUR RESEARCHNo Deal & No Regrets
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Run through the auction numbers and a sophisticated "fargo"
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When the dealer ran through the auction numbers and a sophisticated "Fargo"
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I own a beautiful 02 C4s, as pretty as any out there. I've had it for almost two years and with the CPO running out shortly I entertained the thought of trading up for a later model. The local dealer, or stealer, had a 04 C4s that made my baby look like a beater. Truly like new with 8000 miles on the clock and loaded with carbon fiber, leather all over, sport exhaust, etc. etc. The asking price of 63K didn't seem out of line considering everything. And with a fresh two year CPO this car could be mine, I figured, for about 15k to 18k more.
When the dealer ran through the auction numbers and a sophisticated "Fargo"
operation he came back and said my drive is only worth $37K wholesale.
I didn't bother to question why a Porsche dealer would wholesale a 30,000 mile beauty but to suggest that I put up another 25k was absolutely nuts to me.
I hope my 02 baby forgives me for considering putting it up for adoption.
Shop around. There are some dealers out there who do deal. You just have to go looking for them.
When I traded a Boxster in on my current 996 there was a cash swing of around $5000 on the trade value. One dealer played the same game that he was going to wholesale it, but the other was upfront and said he had buyers that wanted the Boxster and gave me what it was worth. His price on the 996 was also considerably less. I figure it was a $12,000 cash swing between the two dealers.
Why are you surprised by this? That's how these places operate and it's no secret. What do you care if going to retail or wholesale it? Not your concern. Trading in any car is for people who don't need the money or simply can't find time to sell the car on their own. If you really want the newer car, put the car up for sale online. You should be able to get the upper 40's for it.
If you are worried about the CPO running out, maybe consider purchasing a warranty. My car has just shy of 30k miles and the difference in price was significant.
Too bad . . . trade ins are always worse as the price of the trade in gets closer to the price of the other car. If only I did not hate selling things myself. Now, if you wanted a new TT or something, bet the trade in would go up!
Don't tell her...and don't buy her a bunch of love you gifts, or a pampering at the detailers (sure sign she'll know you were up to something no-good!) Just drive her hard for all of us this weekend.
I have been in this boat a number of times. When it is all said and done, I never could justify putting up 20K for a little newer car and few [more] years warranty. [more as my car is under AM warranty].
If I ever move up, I'll do it right, and not just move up a grade. I'll go for the senior class
I think you did right. Keep your baby, save up some nickels, and in a couple years drop it all on a brand new 997/998.
-td
A trade-in is not such a bad thing if the price they offer you is acceptable, because it will decrease the amount of taxes you have to pay. In your case, depending on the % close to $2,000 in tax savings.
I would never buy a brand new pcar for a few reasons. They lose value faster than my stock portfolio in the first couple years (quite a feat!); I can't afford to buy new (see prior stock thing); and I prefer to stay married.
In California, it doesn't work that way, you pay sales tax on the selling price of the vehicle. Your trade-in is just part of the payment. Surprised more states don't do it this way since the state makes more money.
Your car is a beauty. Stick with. Hell, mine's two years older than yours and I can't imagine parting with it ever. Rides like a charm, clean as a gem, and there's history there brother. If you have 15k itching a hole in your pocket, get a BMW R1200S...you'll love it.
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