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Old 01-28-2012, 06:57 PM   #1
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Low trade on 08 Focus

So I am thinking it's time for a new car. Currently have on 08 SE with 99,000 miles. Rear bumper has some rash on it for parking on city streets but otherwise the car is in ok condition.I owe 6g, Dealer offered $4000, . This is kbb fair condition price. They are however knocking 3 grand (1500 in incentives included) off the new 12 SE. This would wipe the negitive equity. Just not sure I want to do this. Is it worth getting out of the 08 and washing the neg equity? I would be out the door at $20K. Or just lower than if I were paying sticker.



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Old 01-28-2012, 08:50 PM   #2
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you could probably get more money by selling it yourself,then using that money as a down payment.
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Old 01-28-2012, 09:12 PM   #3
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^^^This. I know dealer trades are the easiest route, and I simply traded my '05 along with my '04 Wrangler when I purchased a '12 Mazda3 recently, but a car still as relatively "new" as an 08, even with 99k on it, I'd give it a halfway decent shot at selling it yourself. I'd bet you could most certainly get at least 5k out of it.

And the kicker is, they'll most certainly give you the same 3k off the price of the '12.

Don't go simply by KBB. NADA is known to be the "better" source these days, and typically will give you values a little higher. As for my trades, the used manager had already glanced over my Wrangler when I'd been in a few days earlier looking at a used Mazda, so when I went back after another dealer pissed me off with a low ball, he simply went on NADA, punched in all the info for the Wrangler, as well as the Focus (which they hadn't seen and didn't for several days more after giving me the new car lol) and went off their values. See what NADA gives you for a value, and at least try to push for that price point if you want to go the trade route. It may give you at least a little more in bargaining.
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Old 01-28-2012, 09:19 PM   #4
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try entering you info into edmunds.com. I found they were fairly accurate when i bought my cx7 and my more recent 01 toyota corolla (winter beater). They give you trade in, private party sale prices and what they dealer would most likely sell it for.
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Old 01-28-2012, 09:35 PM   #5
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Yeah you probably won't get much better unless you try to sell it yourself and then who knows. Its the mileage that hurts you. Insurance co only wanted to give me $4,000 for my totaled 07. It had 160,000 miles on it, but other wise it was in perfect condition. Leather seats, all options, still smelled new inside. No way I could replace it for 4k. I finally got $5,500 out of em, but I was still ticked!
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Old 01-28-2012, 09:56 PM   #6
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IMHO,why not hang onto the 08 until you have a better down payment. If you walk out of a dealership with a 12 paying 20k. You will be in a negative equity, only more so than what you're now.
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Old 01-28-2012, 10:09 PM   #7
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Yeah, dealers want high quality used cars. Your car is probably only usable to them as a wholesale it off car. So the poor offer.
The rear bumper and mileage are the problems.
One point you forget is the sales tax money you save with a trade in.
$4,000 around my state is about $225 in taxes I would NOT have to pay due to trade in.

My rare 1999 Contour SVT as a trade I was offered only $800.
It was supposed to be worth $3,000.
It had 'issues' so i sold it to a friend for $800. They got a GREAT deal.
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Old 01-28-2012, 11:17 PM   #8
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I traded in my 08 focus with 110k miles and got 5k for it. But we've gone to that dealership for years. Everyone in my family buys from them.
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Old 01-29-2012, 01:02 AM   #9
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Didja try Carmax yet? They're typically a little higher than other dealers.
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Old 01-29-2012, 06:49 AM   #10
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Thanks for the replies. My biggest mistake with the 08 was pushing the financing to 72 months. This is why I am behind. If I wait another year the car will have around 130,000 miles, and be worth nothing. Right now I would save sales tax on $4000 of the purchase. About $300. I will be needing new tires if I keep it. $450. Trans service etc, and all the possible problems that come with a high mileage car.
It looks like I can get 2.84% financing @60 months with a payment of $347.
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