Unicorn?
08-06-19 | 07:15 AM
#76
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Joined: May 2008
Posts: 2,207
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From: Tennessee
I think you come to a point though where you have to look at how much you're "overpaying" and decide how much your time and energy is worth.
1. Do you enjoy constantly looking for cars and trying to negotiate with dealers on a national level?
2. Do you actually want to have the car and drive it and enjoy it?
If the answers to these questions are 1. no, and 2. yes then I don't think a couple thousand dollars over a "average market value" is the end of the world for the right car that has been maintained well and that you like. At the end of the day "market value" is what somebody is willing to pay, and if dealers are letting you walk on offers that you think are fair...your assessment of market value is not accurate regardless of whether it jibes with some online assessment of it or not. Car dealers understand market value too I promise you, and when they let you walk they know that they are likely to net more from somebody else...which means the price you want to pay is below market value.
If you enjoy looking around and messing with dealers then this advice is moot, but if you don't, once you get your car and are done having to deal with this you won't miss the little bit of extra money.
1. Do you enjoy constantly looking for cars and trying to negotiate with dealers on a national level?
2. Do you actually want to have the car and drive it and enjoy it?
If the answers to these questions are 1. no, and 2. yes then I don't think a couple thousand dollars over a "average market value" is the end of the world for the right car that has been maintained well and that you like. At the end of the day "market value" is what somebody is willing to pay, and if dealers are letting you walk on offers that you think are fair...your assessment of market value is not accurate regardless of whether it jibes with some online assessment of it or not. Car dealers understand market value too I promise you, and when they let you walk they know that they are likely to net more from somebody else...which means the price you want to pay is below market value.
If you enjoy looking around and messing with dealers then this advice is moot, but if you don't, once you get your car and are done having to deal with this you won't miss the little bit of extra money.
08-09-19 | 12:12 PM
#77
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Joined: May 2008
Posts: 2,207
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From: Tennessee
I so appreciate everyone's help here. Great family connected thru Lexus. Proud to be a member. I took everyone's advice and mulled it over. I was debating on what to do with my LS and it hit me. An old friend once said if I ever was selling my car to call him first. He bought it over the phone for a fair price for me and him. Then I debated over which of the two F Sports I wanted. I decided to go for the 14 because of price, mileage and pretty much the same tech as the 16. The only real difference was it didn't have the safety alert feature, and you have a split screen, but everything else is pretty much there. We met at a fairly good deal and I made the deposit. I'm very pleased and excited. Probably going to take about a week or a little longer to get the car shipped to me. But in the meantime, I can relax and enjoy the new car "to me" experience. Thanks again!!!
08-09-19 | 03:13 PM
#81
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Joined: May 2008
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From: Tennessee
It’s not so much about the time or ratio of dollars to donuts. For me, it’s feeling good about the deal.
08-09-19 | 05:52 PM
#82
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Joined: May 2012
Posts: 58,118
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From: Maryland
But like you said, to each his own.
08-11-19 | 05:31 PM
#84
Driver
Joined: Aug 2014
Posts: 188
Likes: 36
From: Georgia
It took me over a year of calling dealerships from different states to find my lexicorn,
but I was really trying to lowball to get an impossible steal. Thank God I managed to find a dealership that was willing to swallow my $17,000 in negative equity from my 2015 fully loaded hyundai sonatra. My expectations wasn't even proximate to being realistic, but I soldiered on and eventually end up purchasing a 2013 LS460L with 76,000 miles for $41,000. The car been in an accident that slightly damaged the bumper, and the dealer paid to get it fixed. I made this amazing deal on July 28, 2018, and never regretted my decision one bit. The car was prolly overpriced, but in return I get the most enjoyable experience in driving this “Luxurious SuperYacht”.
but I was really trying to lowball to get an impossible steal. Thank God I managed to find a dealership that was willing to swallow my $17,000 in negative equity from my 2015 fully loaded hyundai sonatra. My expectations wasn't even proximate to being realistic, but I soldiered on and eventually end up purchasing a 2013 LS460L with 76,000 miles for $41,000. The car been in an accident that slightly damaged the bumper, and the dealer paid to get it fixed. I made this amazing deal on July 28, 2018, and never regretted my decision one bit. The car was prolly overpriced, but in return I get the most enjoyable experience in driving this “Luxurious SuperYacht”.
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jonathanz (08-11-19)
08-11-19 | 08:49 PM
#85
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Joined: Mar 2016
Posts: 2,596
Likes: 296
From: Missouri
It took me over a year of calling dealerships from different states to find my lexicorn, but I was really trying to lowball to get an impossible steal. Thank God I managed to find a dealership that was willing to swallow my $17,000 in negative equity from my 2015 fully loaded hyundai sonatra. My expectations wasn't even proximate to being realistic, but I soldiered on and eventually end up purchasing a 2013 LS460L with 76,000 miles for $41,000. The car been in an accident that slightly damaged the bumper, and the dealer paid to get it fixed. I made this amazing deal on July 28, 2018, and never regretted my decision one bit. The car was prolly overpriced, but in return I get the most enjoyable experience in driving this “Luxurious SuperYacht”.
but I was really trying to lowball to get an impossible steal. Thank God I managed to find a dealership that was willing to swallow my $17,000 in negative equity from my 2015 fully loaded hyundai sonatra. My expectations wasn't even proximate to being realistic, but I soldiered on and eventually end up purchasing a 2013 LS460L with 76,000 miles for $41,000. The car been in an accident that slightly damaged the bumper, and the dealer paid to get it fixed. I made this amazing deal on July 28, 2018, and never regretted my decision one bit. The car was prolly overpriced, but in return I get the most enjoyable experience in driving this “Luxurious SuperYacht”.I am curious about what you said above. What did you mean by a $17,000 negative equity? If you bought a 2015 sonata and sold in 2018, was the depreciation so steep that you were upside down by $17,000? That seems unbelievable! And, what did you mean by the dealership swallowing the negative equity? Are you saying they paid your bank $17K to get you to buy the 2013 car for 41K? Can you please explain?
08-13-19 | 02:33 AM
#86
Driver
Joined: Aug 2014
Posts: 188
Likes: 36
From: Georgia
Hi Soldier76, It's really great to hear that you pulled the trigger on your dream car last year. Congrats! Please post some pics, if you haven't already! The LWB cars are truly spectacular and I love all the extra space in the back.
I am curious about what you said above. What did you mean by a $17,000 negative equity? If you bought a 2015 sonata and sold in 2018, was the depreciation so steep that you were upside down by $17,000? That seems unbelievable! And, what did you mean by the dealership swallowing the negative equity? Are you saying they paid your bank $17K to get you to buy the 2013 car for 41K? Can you please explain?
I am curious about what you said above. What did you mean by a $17,000 negative equity? If you bought a 2015 sonata and sold in 2018, was the depreciation so steep that you were upside down by $17,000? That seems unbelievable! And, what did you mean by the dealership swallowing the negative equity? Are you saying they paid your bank $17K to get you to buy the 2013 car for 41K? Can you please explain?
08-13-19 | 05:04 AM
#87
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Joined: Mar 2016
Posts: 2,596
Likes: 296
From: Missouri
I had traded in my 2007 lexus ls460l (wit transmission problems) that I owned for about 6 months for a 2013 Toyota Avalon hybrid, that I owned for 1 month. The avalon was traded for a brand new 2015 hyundai sonatra 2.0t Ltd, which i end up financing for $47,000 with a 2% interest rate. I was paying on the sonatra for almost 3 years before trading it in for my lexus. Let me know if you want me to elaborate on anything I prolly left out or go more indebt.
08-13-19 | 09:24 AM
#88
Driver
Joined: Aug 2014
Posts: 188
Likes: 36
From: Georgia
Thank you Soldier. I am curious about the next step. When you traded in the Sonata for your 2013 Lexus, how much did you get for the trade-in? You seem to be saying that the trade-in price was $17,000 below the amount you still owed on the Sonata after 3 years. Is this correct?
08-13-19 | 09:45 AM
#89
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Joined: Mar 2016
Posts: 2,596
Likes: 296
From: Missouri
I owed closed to $30,000 and this dealership was only offering me 13 to 14 thousand for ole Frank sonatra. I managed to get them to give me more for my vehicle which was $17,000 (or close to it). They brought the lexus down to like $27,000. Then had me at a 9.5% interest rate. I eventually refinanced (before my first payment) for 5.5%. The dealership even had someone drive the car to my house from Kentucky (I live in ga btw) and took my car based on my word and pics I had sent them.
Happy driving! You have a great car, and do post some pics, inside and out.
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Soldier76 (08-13-19)
08-13-19 | 11:41 AM
#90
Thread Starter
Pole Position
Joined: May 2008
Posts: 2,207
Likes: 345
From: Tennessee
It took me over a year of calling dealerships from different states to find my lexicorn, but I was really trying to lowball to get an impossible steal. Thank God I managed to find a dealership that was willing to swallow my $17,000 in negative equity from my 2015 fully loaded hyundai sonatra. My expectations wasn't even proximate to being realistic, but I soldiered on and eventually end up purchasing a 2013 LS460L with 76,000 miles for $41,000. The car been in an accident that slightly damaged the bumper, and the dealer paid to get it fixed. I made this amazing deal on July 28, 2018, and never regretted my decision one bit. The car was prolly overpriced, but in return I get the most enjoyable experience in driving this “Luxurious SuperYacht”.
but I was really trying to lowball to get an impossible steal. Thank God I managed to find a dealership that was willing to swallow my $17,000 in negative equity from my 2015 fully loaded hyundai sonatra. My expectations wasn't even proximate to being realistic, but I soldiered on and eventually end up purchasing a 2013 LS460L with 76,000 miles for $41,000. The car been in an accident that slightly damaged the bumper, and the dealer paid to get it fixed. I made this amazing deal on July 28, 2018, and never regretted my decision one bit. The car was prolly overpriced, but in return I get the most enjoyable experience in driving this “Luxurious SuperYacht”.
The following users liked this post:
Soldier76 (08-13-19)