praetor

You youngsters have no idea what scary interest rates look like. Auto loans use to be 12 to 15%. My Dad's first mortgage was 11.2% and he had outstanding credit and put down nearly 40%

websurfer

I hear from my dad that it's 19% when you purchased the home way back. Excellent credit also.

I had 9.5% for my home before in 2001 also.

kolyan

Trade-in is about 42k but dealers always want to get it for less or they have to sell you something with a markup or something. Basically all dealers want trade that they can sell at auction for a profit, at $42k its zero profit

100% mint (means needs nothing, no tires, no brakes, no scratches, all detailed and ready for sale) MMR is $41.9, Estimated retail $42.7, Last sale similar car $42.7 (almost 2 months ago)

Longevite1

@websurfer did you try Carvana?

websurfer

Yes, they quote me $37,500. Best price online was Vroom at $40,180.00 (read some people took a while to get that check). Shift was another low ball offer

Been thinking about a few months but only decided to post yesterday about this.

FWIW, The Acura wasn't able to give a Lexus quote given the vehicle was too new as 2020. Weird how the dealership works.

I went to the Lexus dealership today where I purchased the vehicle, they gave me the best price of $39,300. Toyota is offering close to that number at $39K.

Carmax gave the worst price at $36K. The appraisal person was asking his buddy on GS and didn't seem to understand which model of Lexus it was. It's funny since we got the best price with another Carmax appraisal during the vehicle shortage time.

After thinking over the night, I'll keep the car for now. Can't beat the 0% financing and the vehicle still drives great with tons of loaded options. Not sure I can keep it 10 years like @praetor

I guess I have to break the news to the Toyota dealer.

jgscott

iTrader: (1)

Just FYI:

When you try to sell your car to a Dealer, you should already know that it will be the lowest value of the possible ways for you to sell your car. Selling your own car is frightening to some, but I don't know why? It's about a risky as you are, based on how you actually handle it. Auto Trader and some other sites now try to verify sellers and buyer and will even vet the funding and guarantee the funds and backed up good. If you plan to buy another car it's good to consider if the trade value to them minus the difference in tax does not offset the cost of selling to say a Carmax or personal sale, Where you will then come back and pay full Tax on the ne car you buy.

If you want to get rid of the car you have and buy something else at a Dealer it's best to shop at least 3 dealers and use the Web source to search and get quotes in other states. Just because KKB says $42k does not mean you can buy or sell for $42k. The old saying is it's worth what someone will actually give you for it. So those options are it, or........ you can wait and see if pricing changes and gets any better.

I always sell my own cars. I will not buy a car nor a house right now with these very overinflated prices still. Just a few months ago where I am in Atl, they were getting $3k over sticker for New Rav4's. Two hours down the road in another state they were asking just sticker no markups. I helped a family member go get a Rav4 Limited about 7 months ago. We sold their older Rav4 for about $3k more that the Dealers offered on Trade. Wait it out, a GS to Rav4 is a big downgrade IMO.

websurfer

Thanks all those that replied and offered thoughts and suggestions.

websurfer

Great advice, thanks.

Yes, it does feel like a big downgrade after comparing the niceties as in the Lexus. Even the NX doesn't feel as good as the GS. Looking and feeling the interior plastic is thin in the interior and exterior looks decent on the Rav4. I've been asking questions on that Rav4 forum also.

Longevite1

You should try the new RX.

I thought the seat on GS is great, I did many road trips, no issues. but I noticed, after a year or 2, I have to make little adjustments here and there because I'm go getting older and heavier.

websurfer

Thanks, I already have a Lexus RX 350L. Not selling that one anytime soon. Getting older also. I tried not to be heavier with diet and exercise.