LS1again

iTrader: (4)

Hey everyone, need a little advice. A buddy who works at a dealership told me about this SS they took in on trade. I got the dealer down to 14k and the owner told me that's as low as they can go. I did a KBB and NADA lookup and they both said clean retail was no more than about 13k. The car is pretty clean with just normal wear and tear for an 8 yr old car. Tires are brand new, has an SLP lid and LM exhaust, and an SLP stb. Interior is in pretty good shape and she drives smoooooth all the way up to at least 100 Tranny shifted nice, clutch felt good, just an all around nice example of a clean F body.

So my question is, is this car worth 14k or should I just pass if I really can't get him any lower? Carfax is clean for what it's worth. Here are 2 pics I took with my phone today and a pic of the motor my buddy took earlier:

oChristiano

iTrader: (6)

Mileage etc? I wouldn't pay over 12k max depending on if it has lower miles,but some will pay extra for SOM..

Edit, didn't notice mileage in title. Defiantly no more than 12k personally.

NC01TA

I agree with oChristiano. I would not pay over 'retail' for a 66,000 mile car. If the car had 30,000 or maybe 40,000 miles they could ask for a slight 'premium' over retail, especially in that color. Give them your phone number and let them sit awhile. I bet they come down and contact you. Highly unlikely anyone will be rushing to them to pay $14,000.

LS1again

iTrader: (4)

Well I was "told" that if they didn't get rid of it by this week, they were just going to wholesale it. However, who knows if that was just a tactic to rush me in to a decision and give them asking price. They were asking 15,995, and I told them I'd think about giving $14k. However that was before they told me they could probably only give me $17k for my G8, because it has a history after I got in to a minor rear end collision and had the front clip and hood replaced. They said if it werent for that history they'd be willing to give me up to $20k for my car, however people probably wouldnt want to pay full retail for the car because of the accident, even though it was repaired by an authorized Geico body shop and you'd never know it was in an accident. So had I been able to get that $20k, I would have had $1500 left over after paying off the G8 loan to roll in to the SS and I would have done 14k just to make the process a little easier since I would only have to finance $12500.

Whatever, if its meant to be it'll happen. If they would rather wholesale it, which I can't see them getting more than 12k max from a wholesaler, instead of selling it to me for 13k, that's their prerogative I guess. I do appreciate the feedback, thanks for confirming what I was thinking!

NC01TA

Wow!! They are feeding you some serious BS. Good for you for holding your ground. Wholesale on that '02 SS is less than $8,000 (and the color means nothing to 'wholesalers'). They will call you. 14k is still too high though. Be patient!!!
The negative with this deal is the trade-in. They don't want it basically so are offering you bottom dollar and also want you to pay top $$ for the Camaro. Sell it yourself and bring cash to the dealer. Let's see them walk away from that so they can 'wholesale' it out. No chance!

LS1again

iTrader: (4)

Still working the deal right now. I told my buddy I did some research and found that the SS is worth 13k max, so if they can give me 17,500 for the G8 and the SS for 13k we might have a deal. So we'll see what happens, I have a feeling they're gonna deny it. Doesn't make much of a difference to me, as much as I want to finally get my hands on an SOM SS, a car I have longed after since I first saw one, it's still not something I want to walk away with without making the rules of the deal. As everyone says, for this kind of car it's a buyers market.

NC01TA, how do you know the wholesale numbers? I was trying to find those myself and unfortunately don't know anyone in the business that could give me some advice. If it's really 8k or less, then I can't see why they wouldnt wanna give it to me for 13.

oChristiano

iTrader: (6)

I'd go for lower, I mean the car books for 10,900 in EXCELLENT condition. I'd offer 10k and sell your G8 elsewhere. Walk in with 11k or 10k cash, if they turn you down there let it sit for a week or 2 they'll be calling you.

NC01TA

OP, One good way to figure out 'wholesale' value, or at least get an 'idea in the ballpark' is to go to www.kbb.com and punch in the car information and hit 'trade-in' value. Even then they will give you choices of excellent, good, fair and the prices are reasonably close to 'wholesale'. They are not exact but it gives you a general idea which is what most people need to know. You know that if a trade-in value is listed at $8,000 then 'wholesale' will be quite close, certainly not $10,000 or something way different. An exception would be on a car you are buying with a high markup like a 'new' car at list price. They have much more room to give the person a bigger trade-in but that still doesn't change the wholesale number. KBB is giving the average trade-in value.
Here is another link too that might help you out http://www.ehow.com/facts_5847417_wh...-vehicle_.html

LS1again

iTrader: (4)

Well, as much as I hate to do it, I might end up biting at the 14k/17k offer before they get rid of the car. I really don't want to let it slip through my hands and either go to a wholesaler or someone else because of a measly grand. A grand would only end up being another 20 bucks a month, which isn't a big deal to me, and I know he's not going to go below 13 as a rock bottom price anyways. Business is business I guess, and when it comes down to it he has something that I want. If I had cash it'd be a different story, but having a car with a lien on it makes things a bit cloudier for me. Oh well, such is life. All I know is if this goes through, I am stoked at the thought of rowing through those gears again

johnlv6

iTrader: (3)

They aren't going to get $10k for it at auction...I'm not sure why you'd jump at the chance to give them $13k for it. Look around the classifieds on LS1Tech...you can EASILY find a 00-02 SS for under $13k with ~60k miles. That is very clean and the mileage is good, but that is not a $13-14k car.

If you have to unload that car in the next year or so, your loan is going to be so upside down that you will NEVER be able to unload it. That's something you need to keep in mind...especially when you're talking about throwing money away only being another "20 bucks a month."

It is a buyers market right now...not a sellers market. There are enough good cars out there that you don't have to deal with a seller that isn't reasonable.

LS1again

iTrader: (4)

I understand I could find a cheaper car through a private seller, but my issue here is the trade in. Even if I could sell my car outright, I would then have to find a car right away, which might not be an easy task. And then when I do find one, I'd have to spend the money on a plane ticket to get to where the car is and the gas to get it home. There's a few hundred right there easily. And unfortunately, I dont have a 2nd vehicle at the moment that I could drive while I'd be in the process of finding a car. It's more of a convenience this at this point, and yes it does suck for me and if I do go through with this I understand I'll be overpaying. It's the nature of the best I suppose. If I go upside down in the future if I need to sell it, then I'll have to deal with that if and when the time comes.

When it comes down to it, he has something I want that nobody in the area has, and he has the means of getting it to me without going through the hassle of selling my car outright. For what it's worth, because I'd be trading the G8 in, I wouldn't have to pay the 8% sales tax on the SS, which kind of helps.

It may be a buyers market, but that really only comes in to play when you have cash in hand, which I unfortunately do not.

Black 99 Bird

iTrader: (31)

You will be upside down the second you drive off the lot in the SS. What % rate are they giving you for the loan on the SS, what rate are you paying on the G8 now?

LS1again

iTrader: (4)

The rate I'm hoping to get on the SS is 5.99 from a credit union I have the G8 through right now, which has me at 3.99 because it's an 08. I owe 18300 on the G8 now, so I'd have to roll 1300 in to the SS. If I wanted the SS straight up on a clean deal with no trade he'd do 13k, but I guess he's afraid of the G8 not selling soon and then he'd lose money wholesaling it. Probably a bunch of BS, I know.

I've been thinking about it, and I think I'm going to tell them no deal unless they'll do 13k with the trade. I've done some research on autotrader and cars.com for similar cars at other dealers around the country, and found that a fair dealer retail price would be 13k. And if he's not going to get much from a wholesaler, which is his only option because I don't think anyone else in the area the car is in is going to buy it, then I think my request is fair. I guess I just got so excited at the fact I could finally own a car I've wanted for so long that I kinda lost sight of financial reality. If he doesn't wanna deal at 13k, then I'll just keep the G8 for now and advertise it. If it sells and I can't find an F-body I want, I'll buy something cheap for the time being and just continue the hunt.

dhowdy

iTrader: (2)

The G8's are very desirable cars as far as I'm concerned. He won't have a problem selling it. You really would be better off to take the others advise and sell it privately so you're not upside down on the current loan and then buy the SS without the trade. Also, it does sound like the price could come down if you have some patience.

LS1again

iTrader: (4)

I decided to drop the idea, I told my buddy who was going to sell it to me that it just doesn't seem like a good offer and if they wanna offer it to me for 12.5 in a clean deal, as long as I can sell the G8 for at least 17.5, then I'll take it. So we'll see what happens. But I did find a real nice NBM SS on here with more mods that I'd prefer a whole lot more (stang56k's car), so hopefully I can get the G8 sold and then pick up that car. We'll see what happens.

Thanks for steering me the right way guys, I guess I just let my excitement get the best of me lol.

NC01TA

Smart! I still say you will be getting a phone call from them. It isn't over yet.

LS1again

iTrader: (4)

We'll see! It would be nice if they did and would make my life easier. As much as I love that other NBM SS, flying down to TN and driving it back up wouldn't be extremely easy for me. It'd be worth it, just a bit difficult. A local car purchase would be quite nice. If they call, cool. If they dont, well, f*ck them for choosing to take 10k from a wholesaler instead of 12,500 from me.

Now I just gotta work on selling the G8!

Black 99 Bird

iTrader: (31)

Glad to see you are making the right choice.

LS1again

iTrader: (4)

Well guys, I feel like I owe everyone a few beers lol. I put my car up for sale on a local racing board, and a kid PM'ed me wanting to trade his all stock (with the exception of lowering springs) red 99 SS M6 for my car, and he's local! He's offering to give me a set of used Kooks headers and y-pipe with it along with a brand new nitrous kit that's never been opened, both items I would probably just sell for pocket cash for a catback, lid, and a tune. Who knows, maybe keep the headers, we'll see. He told me he wants 11,500 for the car, so I gotta go to the bank tomorrow and see if they'll let me take a loan out against the SS that would then be put towards the G8 loan, and then have him give me cash on top of the deal. Hopefully it's something I can swing. It'd be great to walk away with a few grand in my pocket and have it be a local deal to boot!

NC01TA

Racing board? Kid? Do your homework on the car so you don't buy a 'money pit' of an abused car. That would be worse than the dealer's rip-off attempt.