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Discussion Starter · #1 · (Edited)
CLIFFS AT THE BOTTOM

So today I decided to trade off my 2002 acura rsx type s for a 2006 Mitsubishi Eclipse GT and I was in one hell of a suprise. First I was checking it out and everything was cool it looked nice, it was fast, it was cheap. It was $13,995 and had 46000 miles not a bad deal right. The previous nite, I looked up the blue book value on the type s, I have 74000 miles and the car is in great condition. The Blue book value ran at $9995 which is trouble for me, seeing how I still owe 13700 on the car, but I expected to be in negative equity.

The appraisal guy takes my car for a spin, he's gone for a good minute, he comes back with a smile on his face. I can tell he enjoyed the vtec! They have their little meeting and come to the cubical where im sitting. He tells me that my car is worth $6500... Im thinking get the fuck outta here! I tell him I bought this car a little over a year ago and I bought it for $15000. I said I cannot find any type s's for under $12000. I continue to say you mean to tell me that in ONE YEARS TIME my cars value dropped that much into negative equity that it's worth half of what I owe. BULLSHIT!!!

I started to snatch my keys and walk the fuck out! But he tells me I can help you , I can put you in a Brand new 2009 Mitsubishi Galant @ $20000, with lots of rebates and I'd pretty much start clean. I test drive the galant and it's not that bad, I actually kinda like it! I need the rebates to flip me back right side up. And Now im in decision.


Should I:

A. Keep the Type S and tell them to eat a baby dick (continue plunging into negative equity)
B. Go to a different dealership and see what the appraisal is there (possibly no rebates)
C. Fuck it and take the deal for a new start

Has anyone else dealt wit the same things when they traded their acura in?



Cliffs!

- Went to trade the type s in today for a 2006 eclipse gt
- They appraised the 2002 Type s with 74000 [email protected] $6500.
- They offer to give me a new car and a brand new car and a fresh start
 

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HONDA PACT
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so in over a year you only paid off 1300 on your car and you want to get a new car that cost even more. yes it may seem like a fresh start at first but you'll probably put yourself in an even worse position later on.
 

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RAGING DEMON
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Also, Buy a car at the end of the month... Because Salesman have to make quota for the month. Also, Shop around and its always best to go in there with your own money!! Take out an loan from your bank. Go, on autotrader and find a car you like and print up the page of the vehicle you like with a cheaper price. Take it to the dealership!! And I never buy a car on the first day... I always sleep on it. Also, play mom and pop with dealership i.e Joe Car lot has the same car for 1000 dollars cheaper than you have it listed down the highway. But always be willing to walk away whenever you feel uncomfortable. And always get what you want and not what the dealership is giving you.... Is there anything wrong with your car!! I would keep and pay it off first!!
 

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go test drive a 3.5 altima, and see if you can get a similar deal. plus see where the nissan dealer quotes your car.
 

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made of particles
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/\/\/\w3rd. the dealer isnt looking out for you - the glont thing, even if it seems like a steal or whatever, is just putting you more in the hole. do you really need it? just tired of the rsx or what?

dealer will never give you blue book for a tradein. some places will do better than others but...

case in point, when they first came out i was lookin at mazda 3's, and had a truck to trade in - 2000 gmc sonoma, book on it was like 8k. mazda dealer said hed give me 3500 for it as a trade in. that didnt sound like a good deal to me so i said fuckit.

few months later, found my rsx at a subaru dealer, they gave me 7k for the truck. glad i tried somewhere else - got a cooler car ( :) ), and got a shitton more mon-ay for the truck.

i guess what im getting at is: dont rush into something just cuz the dealers making it look like a sweet deal, they try to pressure you to make a decision before you can have a logical, rational sit-down-and-think-about-it period. cuz they know when you do, youre gonna walk. so theyll be like "oh this deal is only good for today" or whatever, and youre like fuck i dont wanna miss a deal, so then you let them screw you.

patience man. patience.
 

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Any dealership is going to low ball you so they can make $$ on it. If they were to offer you book value, or market value, how would they make any money off of it? No matter where you go, any dealership will low ball you. Best bet if you do want to get a new car, sell it privately and then go get a newer car.
 

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RSX nuff said
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dont do it...you can get more for your car alot more..when i i went to get my rsx i owed 17k on my civic em2 and they paid it off and gave me my rsx for 14k 6% interest you can find the deal u want .plus the gallant fuck that car. it seems like a deal but the gallant will devalue even faster acura>mitsubishi any day..bro you can get a used tsx for like 15k low miles
 

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EJ25 FTW
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65,259 Posts
one, the guy is ripping you off on that trade. sell third party and make more.
second, Mitsubishi's dont hold value (unless its an evo)

buying a new car is going to make you even more broke. Just pay off your car, and sell it later for the down. That way you dont owe for a new car, and pay off the diff on your old car.
 

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Com
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You can get a lot more selling private party. kbb for private party is 12000. Also i see a galant as a downgrade. Even if it's newer.
 

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YUMADTHO
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You already know your car is worth a whole lot more than what the dealer told you. You are just fine in the RSX, and you don't need a new car, especially if you're already in a pinch. Since you're already in a bind, getting a newer car is just going to set you up for even more failure and "negative" equity seeing as (no offense) that you haven't managed this one too well. On that subject, you're not even in the negative: it's all in your head. The "equity" in your car really only matters if you go to trade it in or sell.

That said, work your ass off, pay your car down till you own it, or until you're even and then sell it/start over.
 

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#1.

When you go into trade your car, you should always have them appraise the car before you tell them you are interested in buying another. Either way, I would not switch from an RSX-S to a Galant.
 

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#1.

When you go into trade your car, you should always have them appraise the car before you tell them you are interested in buying another. Either way, I would not switch from an RSX-S to a Galant.
wrong.

when you go to buy a car, you never let them know you have a trade in until after you negotiated their best price for the car you are buying. when you've squeezed every last deal from them and you have it in writing, then you talk trade in.

no matter what, be prepared for them to low ball. if they won't make a fair offer, then walk. hint: any offer that includes negative equity is retarded. any offer you have to rationalize as the ts is doing, is retarded as well.
 

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Premium Member
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You already know your car is worth a whole lot more than what the dealer told you. You are just fine in the RSX, and you don't need a new car, especially if you're already in a pinch. Since you're already in a bind, getting a newer car is just going to set you up for even more failure and "negative" equity seeing as (no offense) that you haven't managed this one too well. On that subject, you're not even in the negative: it's all in your head. The "equity" in your car really only matters if you go to trade it in or sell.

That said, work your ass off, pay your car down till you own it, or until you're even and then sell it/start over.
for real. it's this sort of mentality that caused the mortgage crisis. why do people insist on living beyond their means?
 

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4-MMC OG
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1,907 Posts
Go back to dealer. Piss on his desk. Send him a bill for 20k.

Same shit they're trying to do to you.
 
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