I have a 2006 bmw 325i that’s reached its end of life and so need to be get ridden off. It has over 105k miles on it and the pending repairs will cost about 5-6k to fix.
We have decided to lease another non bmw car and debating whether to trade in this vehicle as part of the downpayment or sell it online via Vroom.
Got a quote for 2800$ from a local Mazda dealer while Vroom quoted 2000$ online.
Should I go with Vroom or trade in and take the extra 800$ for it. I know the general advice on this forum is 0$ down due to risk of losing the downpayment on accidents.
But still want to hear your thoughts. Are there any other sites like Vroom that can give quotes for selling an used car online sight unseen?
This ! Always keep new car deal separate from the old car sell of / trade.
Also, have you checked how much you can probably get for selling private yourself? If time allows of course?
When I leased a Forester recently, I traded in my Outback which gave me sales tax credit, then the dealer cut me a check for the trade value. Saved me around $1,500 in sales tax which has to be paid on the entire price in Texas.
Didn’t knew that they can cut me a check for my used car. Last dealer I spoke to said that they can only apply the trade in value as downpayment and can’t write me a check and that’s not how trade ins work. Looks like it’s possible to get a check for trade in without applying as downpayment. I’ll check with the dealer
This is typical of salesman not knowing how things actually work, just how things usually work.
What’s the difference to the dealership whether they cut you a check for $2800 or cut the captive a check for $2800 to apply as down payment on your lease? So silly.
So I double checked with the dealer and they said the following …
“We are no interesting in buying your trade. You can use it for down payment.its not a vehicle that we buy standalone for our pre-owned inventory.”
Given this and vroom pays 2000$ , should I just go with vroom or does it make sense to trade it in for 2800$ and force to use it as down payment? Which is better?
Strange that they won’t cut you a check back. They could always jack up the price of the car by $2800, take the trade in for $2800 and still cut you a check back. It’s all semantics and juggling the numbers, I’m assuming it’s just too complicated for them or they are inept or both
Start a new deal and do not mention the old car. Period. Once you have a deal you like (search here for what you might consider a good deal) you can start asking about your old car”s value. I’ll bet vroom carvana carmax shift or private party will beat the dealer offer because dealers don’t want clunkers for the most part.
That’s a bunch of horse crap the dealer is doing. Take the offer and shop it to other dealers and just say I want to sell it. I have an offer already and I want to see if you’ll be higher. No mom and pop shop.
You know, people say car max is the best bet… but I’ve shopped every quote I’ve ever gotten from Carmax (four) and each one was thousands under what carvana/vroom or local dealers would offer me.
Never had a positive experience at Carmax, but it must be me because a few folks on here have had positive ones.
I understand selling a car privately maybe discomforting for some people . However it’s almost always such a high return for little effort especially on dirt cheap cars like this one , it should be no brainer.
Your vehicle needs 5 to 6k in repairs let’s be honest you wont be disclosing that to a private seller. Carmax gives great values but they need a lower price for your vehicle because it will gi straight to their own auction.
Also if it was me I would talk to the general manager or take that quote to another mazda dealer and have them match it
That’s wrong. I once traded in a car I owned and leased a replacement. The dealer wrote me a check for her $14,000 at signing. My daughter just traded her Honda in for a new Jeep and again, the dealer wrote a check for $1,900 at signing for the equity in her Honda
So do you guys suggest that I sell it vroom and not use it as down payment ?
I got quotes from other Mazda dealers and they are all in the 1299$ range max. No one will match this guys quote. What’s the best course of action here ? Is 800$ difference from vroom worth the trade in ?
This is typical of salesman not knowing how things actually work, just how things usually work.