How does trade in work?

Ask the Hackrs
41

sorry, didn’t know it.

42

Middle man?

43

Two things to keep in mind to minimize bad deals.

  1. Keep the transactions separate. Sell your car. Then lease a new one.

  2. Don’t go to the dealer for the new car you want till you’re ready to take it home. Do it all via email. Bonus points if you get them to deliver the car to you. (They will do this!)

44

Find someone who knows their numbers to go in with you and work the deal, or find someone to do the deal on your behalf, so all you have to do is go in and sign papers.

I’m in Austin and am also in the market for an Accord. I can give you tips on what I’ve learned from talking with multiple dealers, but I can’t find any deals worth doing right now.

45

It’s a lease, not sure how much equity you expected to have or why you think you paid $15k more than you should have. Did you put a lot down? The only thing you can really do now is try to get a good deal on the next one.

1 Like
46

MSRP of Honda Civic 2016 is around $18k.

In total through the 3year lease I paid $14k.

The payoff is $14k.

In my eyes, that’s $28k for a $18k car.

47

That’s an, ahem, interesting view.

So don’t buy the car. Voila, you “saved” $14k

48

That’s only a difference of $10k and doesn’t take into account taxes and interest. Also, I thought the MSRP was $21k in an earlier post.

49

There’s no way the RV was around 78% for a 3 year lease.

2 Likes
50

Math is hard.

51

I’ll volunteer to fly out to Austin and assist for a modest fee.

1 Like
52

I suggest everyone stop responding to OP until he posts a copy of his current lease contract.

In before he asks what a lease contract is.

53

I’m new to this site, but after reading all of this, something seems fishy. $390/month? 39K miles for 3 years? Again, i’m a newbie, but if this person really paid/pays that much money for a Civic, maybe they actually bought the car. I mean I have the same situation and I pay $271 for an Si.

54

Or, more likely, he truly is clueless and doesn’t even know what he signed 3 years ago let alone what he’s going to sign now.

55

Its kind of interesting that since he was “called out” he has not posted any information. I’m sorry if I broke any ethical site issues, but come on, $390/month to lease a Honda Civic with an MSRP of $18K over 39 months? Maybe he thinks he’s in a lease, but he’s actually bought the car???

56

OP, if you are still out there, do not take all this personally! Come back and let the experts here help you. We are all good and bad at certain things. You need help in this area and you luckily found the best place to get all the help you need for free. Take the help and get yourself a nice new ride for way less than you spent before.