Trade in

[JeRNuT]

I am starting to think I want a dfferent color then black mica. I know there is no way to know with out going to the dealer but, how much money do you think I would loose if I trade in my 2003 MSP with 5000 miles for another 2003 or a 2003.5 MSP? This is just something I am considering and I want to know if I should foreget the whole thing right now?

 

[JOS3]

it depends on what you owe on your current loan..............

 

[JeRNuT]

i owe 14500 on my current loan. I bought the car for 20000 before taxes and such.

 

[jonnydoe48]

paint it some exotic color for less =p

 

[KYREDP5]

If you only owe around 14,500 I wouldn't think you would get ***** too bad on a trade in.

 

[InitialDMP5]

I'm kinda stupid when it comes to trading in newer cars. So let me get this straight. So you owe 14,500 on your car loan. If you trade it in for a new car, and you don't get what you owe on the loan, then you will still have to pay the difference on a loan for a car you don't even have? am I getting this right? and if you do get what you owe on the loan, do they right you a check or something for it? or you just hand over the loan to the dealership and they take it over?

 

[TexP5]

paint it some exotic color for less =p

Yea I second this idea. A good quality paint job would probably end up costing you less mone and would DEFINITELY be less of a hassle than dealing with a trade in and an upside down loan. Plus you can choose ANY color not just the few offered by Mazda and you'll have a really one of a kind MSP. Have you seen 1GarnetRedLX's car? Search for that name and find some pics of his car. It's beautiful and uique. Shows what you can do with a really nice paint job.

 

[fkmp5]

I'm kinda stupid when it comes to trading in newer cars. So let me get this straight. So you owe 14,500 on your car loan. If you trade it in for a new car, and you don't get what you owe on the loan, then you will still have to pay the difference on a loan for a car you don't even have? am I getting this right? and if you do get what you owe on the loan, do they right you a check or something for it? or you just hand over the loan to the dealership and they take it over?

if you don't get what you owe, they'll add the difference to the price of your new car.. and you finance it.. if you do get what you owe, and then some, they subtract the difference from your new car.. and you finance it .. make sense?

 

[mp5]

You said you got the car for 20,000 before taxes and such so you probrably got it for around 21,500. Let say just for arguments sake the dealer gives you 16,000 for your trade, unlikely but possible. That means you have spent 5,500 so far for your car. Since you only have 5,000 miles and you registered in April, I'm guessing you've had the car for about 3 months, which means your montly payment equates to around 1830 a month. Even if you've had the car for 6 months your monthly payment for your car has been around 920 a month. Those kind of payments put you in some pretty exotic wheels. So even if you didn't "loose" money on your trade, since you only owe 14,500, your still gonna get ***** by your dealer on a trade in.

 

[JeRNuT]

yeah i was really tired last night and have given the thought more time today. I put 6000 down on my car; that is why I owe 14500. My payments are only 300 a month. If iwas really lucky and my dealer gave me 18000for my car and i went with the orange one which is 20500 minus the 1500 rebate equals 19000 before taxes. this leaves me about 2500 worse off then i started. not really what i was looking for. I love my car. I just need to get rid of the hesitation so I stop thinking i need to get a SRT-4.