Last post on Jun 16, 2013 at 3:04 PM
You are in the Smart Shopper
What is this discussion about?
Car Buying, Car Selling
#2978 of 3257 Re: GTI Detail [Mr_Shiftright]
Jun 15, 2012 (9:49 pm)
I had not thought about zip code and did not even realize that AT did a "buy it directly" program. I logged onto it, and when I put in my zip code that was the end of it, so I put in my office zip code (about 30 miles away) and I received a "pending offer" response. Strange, as I live in an upscale neighborhood and my office is located in quite the opposite.
#2979 of 3257 trading in a car that i owe money on
Jul 30, 2012 (7:03 am)
i would like to trade in my 2009 hyundai elantra that has 29K mileage & i currently owe $7,900. i was told that if i trade in this car w/a balance, that the dealer will add my current loan to my loan of my new car? is this correct/
#2980 of 3257 Re: trading in a car that i owe money on [padoodie]
by kirstie_h HOST
Jul 30, 2012 (7:29 am)
Not necessarily true. If you trade in your Elantra, and it is worth MORE than $7,900, then your loan is paid off. It is like selling the car privately - if you sold it for $7,900, then used that money to pay off your loan, your loan balance would be $0. You are basically selling your Elantra to the dealership.
If your car is worth LESS than $7,900, then the difference between $7,900 and what you get for it would be added to your new loan. For example, if you traded it in for $6,900, you would have to either pay $1,000, or have it added to your new car loan.
#2981 of 3257 GAP insurance on a leased car
Jul 31, 2012 (2:09 am)
hello. is GAP insurance available on leased cars? I have always financed my cars and purchased GAP insurance. What happens if a car is leased and the car is totalled?
#2982 of 3257 Re: GAP insurance on a leased car [padoodie]
by Mr_Shiftright HOST
Jul 31, 2012 (9:36 am)
short answer---yes, you can get GAP insurance on a lease and in fact, it is often required by the leasing company.
You can find this information right here on the Edmunds site:
GAP INSURANCE--HOW IT IMPACTS YOUR CAR LOAN
#2983 of 3257 quick question for dealers..
Aug 06, 2012 (9:11 pm)
Where on earth do they get so many newer vehicles with low miles on them from?
I understand alot of vehicles come from rental fleets, but do alot of people default on loans or trade in newer vehicles or whats the scoop.
#2984 of 3257 Re: quick question for dealers.. [carstryke]
by Mr_Shiftright HOST
Aug 07, 2012 (9:35 am)
Off lease auction sales I would guess, plus, as you say, trade-ins.
I have heard from salesmen friends (anecdotal, so can't verify) that in their stores they estimate that about 1/2 the people who buy new cars are trading in cars that they still owe money on---so in other words, 50% trade in prior to the term of their loan (which is usually 5 years).
They also tell me that perhaps 1/4 of those people (not sure if they meant 25% of the 50%, or just 25% of everyone buying a new car) are upside-down in their loans, and blend the old loan into the new one---yikes!
#2985 of 3257 Recently purchased a used car from dealership and having problems
Aug 10, 2012 (7:20 pm)
I recently purchased a car from the dealership in may 2012 and everything was fine. I'm a first time buyer so when my plates and tags hadn't arrived i was thinking it just needed more time. then my insurance sent me a letter of cancellation for failure to send registration, yet i hadn't received my registration yet. so i went to the dealership and they said the DMV sent a notice of my make and model being recalled and need to be certified. remind you that was in June 2012 and the dealership failed to mention or call me regarding that, only because i showed up was i informed. so i took my car to a certified dealership to get checked out it passed and i returned to my dealership with the proof of corrections. Finally my car has been registered and i barely received a call today 08/10/12 to pick up my plates and registration, yet they told me i have to pay an additional $226 before they hand them over. i already paid for registration in the contract. And to top it off i just received a notice from DMV for renewal of registration for Oct 2012. I'm confused why am i paying all this money to the dealership if i have to re register it in Oct. i payed $250 in contract and they want $226 now and in Oct my renewal is $169. The dealership is unprofessional they even typed up my contract with the wrong spelling of my name they fail to contact me for anything i have a feeling that something is going on and they are trying to hustle me. please help should i pay them the $226 or not?
#2986 of 3257 Re: Recently purchased a used car from dealership and having problems [510taurus]
Aug 14, 2012 (3:58 pm)
I wouldn't. I'd complain to your local consumer protection office or dealership licensing body (if there is one).
Sounds like the whole deal was a big mess from the start.
#2987 of 3257 Re: Recently purchased a used car from dealership and having problems [boomchek]
Aug 21, 2012 (12:23 am)
I bet the $250 he paid was a Document Fee, not Tag/Title Fee.....