My local Ford dealer is hosting a buy-back program this month

[unfocused1]

Originally Posted by opies

We traded in a 2011 Kia Sorento on our 2012 Focus. We were given more than we owe on it and there was no special program going on. The Focus was a used vehicle. The difference between what we owed on the Kia and what they gave us for it covered in full the Premium Care extended warranty.

That's the best way to do it. Buying it new means you know who's driven it and where it's been, but depreciation is a killer. But the extra warranty coverage is one I would always do...

Originally Posted by GN Prime

just go up and talk to them, it can't hurt:) just don't sign anything lol!

Hehe. Agreed.

Based on the consensus of responses, I won't fall for it. I love my '12 and want to not dig deeper into "new car debt".

[unfocused1]

Originally Posted by kam327

Yep, it's a scam. They use the email to make you feel like you're special and try to hide the truth in the numbers.

I got a postcard in the mail from the local Honda dealer, saying they wanted my wife's '08 Taurus and would give us top dollar (>$1,000 over KBB value). Even had the approximate mileage of our car on our postcard. Must have gotten our info from KBB or NADA when I went online to value the car. When I took it in for an evaluation, sure enough they confirmed they'd give me top dollar, but it ended up they also wanted to rape me on the new vehicle purchase. Took a while to get to it since at first all they'd talk was monthly payments.

Can't hurt to talk to them, but be ready to walk at the first sniff of foul play.

Thanks!

And to ALL who responded.

When I did my trade-in, the car was almost in new condition - apart from scratches thanks to people who were not me. But they could easily be blemished out. And it had far fewer than average miles... I fought to get the KBB value and pretty much got it, but that's cool your dealer gave you more than the KBB value.

Originally Posted by scott7278

It can't ever hurt to inquire, but to be honest, there's probably quite a gap between the amount you owe and how much your 2012 is worth, unless you put down a significant amount of money at the time of purchase. At this point of the loan, a good chunk of the money is going to interest, so the principal is not decreasing as rapidly as it will down the road.

People get shocked when they find out 1) How little the dealer wants to give them, combined with 2) How much they still owe (if they don't keep up with the balance).

Not wanting to rain on your parade, but don't get your hopes up, and don't go backwards in your loan just to go one year newer, unless you absolutely hate what you're driving.

Much thanks!

I pretty much love what I'm driving, the last time I traded my car was worth $4k more than what was owed (and I still put down another $3k on top of that)... and it wasn't the most recent car, either - for my current situation I'd be owing, and I traded solely for safety features I should have been more assertive about the first time around. I'm absolutely content with what I've got...

[Ybbogus]

Why would you ever trade a car that's is less than 3 years old??? Steepest depreciation curve. Total waste of money. If you go that route you will get taken 120% of the time and will end up driving a 35k dollar golden Focus. It's simple math really.......
Dealers offer these sovcalled buybacks to sell new cars and to make money on yours. If you fall for it, dealer is the winner. :)

[Kabigon]

Originally Posted by unfocused1

The letter also says I would get "top dollar" for a trade-in to buy a new vehicle.

That is total nonsense.

They want to get you into their showroom and hope that you make an emotional buying decision.

Dealers are in business to make as much money as they can, not to benefit their customers.

[e30og]

I get emails and letters from my dealer all the time, is just a gimmick. The only way to find a true deal is check Ford incentives.

Dealers are tricksters. period. Any special promotion or event that happens, if they give you an inch they take it somewhere else. Its all about rushing you into their car and pulling a fast one to compensate for the 'deal'

Keep the car

oh and I PROMISE they wont give you even near what its worth

[Rogerschro]

Originally Posted by e30og

I get emails and letters from my dealer all the time, is just a gimmick. The only way to find a true deal is check Ford incentives.

Dealers are tricksters. period. Any special promotion or event that happens, if they give you an inch they take it somewhere else. Its all about rushing you into their car and pulling a fast one to compensate for the 'deal'

Keep the car

oh and I PROMISE they wont give you even near what its worth

I've decided to trade one of my Focus on a C-max. I got full trade value even though I owed about 3000 more than KBB. I am effectively paying about 1000 under MSRP for the C-max, but I got the Zebart treatment and the ESP thrown in. In all a good deal.

[asting]

Just because you got more than you owed doesn't make it a good deal. If it's a $20k car and you put down ten grand, just because they'll offer you 15 a year later doesn't make it a good deal. Car values drop crazy fast the first few years. You basically paid a few thousand for a one year lease.

[opies]

Originally Posted by Ybbogus

Why would you ever trade a car that's is less than 3 years old??? Steepest depreciation curve. Total waste of money. If you go that route you will get taken 120% of the time and will end up driving a 35k dollar golden Focus. It's simple math really.......
Dealers offer these sovcalled buybacks to sell new cars and to make money on yours. If you fall for it, dealer is the winner. :)

Not always true.

Not to mention since we are currently in a market where more and more people can only afford used cars, their value has increased. Both to people who wish to sell them, and to dealers who have more and more people looking for used over new.

[scott7278]

Originally Posted by suss6052

Now for the average person that's true, they may have been more concerned about $0 down and hitting a certain payment per month. I was more concerned about what I would still owe.

That's very wise!

Sent from my Android using FF Mobile.

[Rogerschro]

Originally Posted by asting

Just because you got more than you owed doesn't make it a good deal. If it's a $20k car and you put down ten grand, just because they'll over you 15 a year later doesn't make it a good deal. Car values drop crazy fast the first few years. You basically paid a few thousand for a one year lease.

Had I done a one year lease, I would have paid about the same, so yes, you are correct. BUT, I think it was a good deal, and since it is my choice and I agreed with the terms, it is a good deal for me. Someone else may not think so but at the end, it is each of our choices we live with.